SIE Knowledge of Capital Markets Practice Question 33

Correct Answer: D

Explanation:

D: Choice D is correct because the UGMA trustee can be one of a wide range of possible individuals or organizations. Choice A is incorrect because, while an attorney may be involved, a UGMA account at a bank for investment firm may be opened with the trust named in the registration, and the beneficiary stated as the minor, with no attorney involved. Choice B is incorrect because a parent may gift items to the minor child. Choice C is incorrect because the donor need not be a parent of the beneficiary.