Exercise
Match the description with the type of account
A. UGMA accounts
B. Transfer on death (TOD) accounts
C. Partnership accounts
D. Individual accounts
E. Corporate accounts
F. Joint accounts
G. Institutional accounts
1. _____ These accounts can only be opened by a living, competent person who is not a minor.
2. _____ These are accounts of a bank or investment company, a registered investment adviser, or any other business or person with total assets of at least $50 million.
3. _____ These are accounts in which more than one party can access and make trades.
4. _____ Assets in these accounts pass to a named beneficiary without having to go through probate.
5. _____ A partnership agreement, which shows who will have trading authority in the account, must be signed prior