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Ch.9 · KYC and Folio Management · easy

Who can open a mutual fund folio on behalf of a minor?

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EXPLANATION

A minor's mutual fund folio must be operated by a natural guardian (father or mother) or a court-appointed legal guardian. Siblings, grandparents, or other family members cannot act as guardians unless appointed by a court.

A.Any adult family member

B.Natural guardian (parent) or court-appointed legal guardian [✓ Correct]

C.Only the biological parent

D.Only the minor's grandparent

EXPLANATION

A minor's mutual fund folio must be operated by a natural guardian (father or mother) or a court-appointed legal guardian. Siblings, grandparents, or other family members cannot act as guardians unless appointed by a court.

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