Question

Safeguards assets of funds, acts as a transfer agent (cancels/issues shares), keeps shareholder list, and earns custodial fees are all traits of a ______.

A. Custodian
B. Trustee
C. Broker-dealer
D. Asset manager

Answer 1

A trustee is a person or entity that safeguards assets of funds, acts as a transfer agent, keeps a shareholder list, and earns custodial fees.

Step-by-step explanation:

The correct answer is B. Trustee. A trustee is a person or entity that is responsible for safeguarding assets of funds. They also act as a transfer agent, meaning they cancel and issue shares, and keep a record of the shareholders. In addition, trustees can earn custodial fees for the services they provide.