SIE practice questionmediumBeneficial Ownership
Who is considered the beneficial owner in a trust account?
- AThe broker-dealer
- BThe trustee
- CThe trust beneficiary✓ Correct answer
- DThe branch manager
Explanation
Why C — The trust beneficiary
The beneficiary is the person for whom the trust assets are managed and is considered the beneficial owner. The trustee manages, but does not own, the assets; broker and manager have no claim.
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