n NISM Certifications
X NISM Series X
Medium

Under the Guardians and Wards Act, who is considered a 'Ward'?

Practice question from NISM Series XB- Investment Adviser (Level 1) Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    All minors

  2. A minor with a guardian for person and/or property

    Correct answer

  3. C

    A minor with court-appointed guardian

  4. D

    Any person with a court-appointed guardian

Why this is the answer

The Act defines a 'Ward' as a minor for whom a guardian has been appointed for either person or property, or both.

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