SIE practice questioneasyAccount Titles – Minors
Which type of account cannot be opened in the name of a minor?
- AIndividual account✓ Correct answer
- BUGMA account
- CCustodial account
- DTrust account
Explanation
Why A — Individual account
A minor cannot open an individual account because they lack contractual capacity. Minors can have assets in UGMA or custodial accounts managed by an adult.
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