SIE (Securities Industry Essentials) Practice Exam 2025 - Free SIE Practice Questions and Study Guide

Question: 1 / 400

Which of the following is NOT a function performed by the custodian bank?

Custody of assets

Fund accounting

Selecting the investment manager

The custodian bank performs various functions such as custody of assets, fund accounting, and settlement of trades. However, the selection of an investment manager is not a function of the custodian bank. This task is typically done by the asset owner or investor. The custodian bank mainly provides support services to other financial institutions or larger investment firms, but is not involved in the decision-making process of selecting an investment manager. Therefore, option C is incorrect.

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Settlement of trades

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