SIE Understanding Trading, Customer Accounts and Prohibited Activities Practice Question 10

Question: 10

Which of the following describes a joint account?

A. A corporate resolution is needed to specify who may open the account and who may initiate activity.

B. The trust agreement must be on file, along with documentation of the trustee's authority to determine activity for the good of the beneficiary.

C. The partnership agreement is required.

D. Any owner may determine activity, but all owners must sign when a signature is needed.