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Dancing silently in your chair = appropriate celebration. Jabbing your pencil in the air and yelling "IN YOUR FACE, ETS" = not so much.

Account Ownership Types Drill

  • 1.

    Two unrelated parties set up a joint account. To whom must the brokerage send periodic account statements?

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  • 2.

    A, B, C, and D set up a joint account. A and B are related; they want to set up their piece of the account as a survivorship account. C later dies, followed shortly by B. How is the account divided?