SIE practice questioneasyJoint Accounts
Which joint account type allows either party to trade securities and withdraw funds?
- ASole proprietorship account
- BTenants in common (TIC)
- CUGMA account
- DJoint tenants with rights of survivorship (JTWROS)✓ Correct answer
Explanation
Why D — Joint tenants with rights of survivorship (JTWROS)
JTWROS accounts allow either owner to trade and withdraw. In TIC accounts, owners can trade, but account interests pass to heirs, not other tenants. UGMA and sole proprietorship accounts are single-party accounts.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Account Types questions
- Which statement about traditional IRA contributions is correct?
- Which of the following is a qualified retirement account that offers tax-deferred growth and may be funded by an…
- Regulation T requires customers to deposit what percentage of a purchase when using margin accounts for most stocks?
- Which account type requires all transactions to be paid for in full by settlement date?