SIE practice questionhardAccount Types – Multiple Owners
In an account with multiple owners, which type allows unequal ownership percentages?
- ACustodial account
- BJoint tenants with rights of survivorship (JTWROS)
- CJoint tenants in common (JTIC) account✓ Correct answer
- DUGMA account
Explanation
Why C — Joint tenants in common (JTIC) account
JTIC accounts allow owners to specify unequal interests. JTWROS accounts have equal shares; custodial and UGMA accounts have one beneficial owner.
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