SIE (Securities Industry Essentials) Practice Exam

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529 college savings plans are categorized as what type of securities by FINRA?

Federal fund securities
Municipal fund securities
Corporate fund securities
State fund securities

The correct answer is: Municipal fund securities

529 college savings plans are categorized as municipal fund securities by FINRA. These plans are sponsored by states or educational institutions and are designed to help families save for education expenses such as tuition, fees, and room and board. They are not considered federal, corporate, or state fund securities.