Finra Exam Series-6 Topic 6 Question 8 Discussion

Only Selections I and IV are true statements. If Eddie and Edith open a JTWROS account with you, you can accept a buy or sell order from either one of them, and any correspondence concerning the account can be sent to either one of them. However, a check must be made out to both of them, in the same manner that the account is titled. A JTWROS account is a ''joint tenants with rights of survivorship'' account, which means that if either Eddie or Edith die, the account assets pass directly to the other one and do not go into the deceased's estate.