SIE Exam Question 404: Answer and Explanation

Question: 404

Many folks living across the country choose to participate in their state's 529 college savings plan. These investment programs are generally referred to by FINRA as:

• A. municipal fund securities
• B. LGIPs
• C. pre-paid tuition plans
• D. UGMA or UTMA

Correct Answer: A

Explanation:

A: The 529 plans are considered by the SEC and FINRA to be municipal fund securities.