Review Topics
Practice Exams
When taking your exam, don't think about the song "Camptown Races." (We said, DON'T think about the song. Or going to the bathroom.)

UGMA and UTMA Drill

  • 1.

    Pop opened an account for Junior as an UTMA account. The state where the account was opened provides that beneficiaries of UTMA accounts become "of age" at twenty-two. Junior calls the broker on his twenty-second birthday and instructs him to liquidate the account and send him the proceeds. The broker complies with the request. Does the broker have any liability?

  • Looking for more? Why is this annoying box in the way? It's because you haven't paid for the course yet!

    We'll give you the first and last question on this exam. So you know we actually did the whole thing.


*Securities is a registered trademark of the College Board, which was not involved in the production of, and does not endorse this product.