SIE practice questionmedium529 Education Savings Accounts
Which type of account is specifically designed to save for qualified educational expenses?
- AOptions account
- B529 plan account✓ Correct answer
- CTraditional IRA
- DMargin account
Explanation
Why B — 529 plan account
A 529 plan is a tax-advantaged account specifically for education savings. Traditional IRAs are for retirement, options accounts for option trading, and margin accounts for borrowing.
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