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Ch.9 · KYC and Folio Management · easy

At what age does a minor investor's mutual fund folio need to be converted to a regular (adult) folio?

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EXPLANATION

A minor investor attains majority at age 18. Upon turning 18, the folio must be converted to a regular adult folio. The erstwhile minor must submit fresh KYC, bank details, and a signature for the folio to remain operational.

A.18 years [✓ Correct]

B.16 years

C.21 years

D.25 years

EXPLANATION

A minor investor attains majority at age 18. Upon turning 18, the folio must be converted to a regular adult folio. The erstwhile minor must submit fresh KYC, bank details, and a signature for the folio to remain operational.

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