American_Bankers_Association

CTFA · Question #89

Two people wishing to open a checking account may do so in which one of the following ways:

The correct answer is D. All of the above. See the full explanation below for the reasoning.

Fiduciary and Trust Activities

Question

Two people wishing to open a checking account may do so in which one of the following ways:

Options

AThey can each open individual checking accounts (on which the other cannot write checks)
BThey can open a joint account that requires both signatures on all checks
CThey can open joint account that allows either one to write checks (the most common type of joint
DAll of the above

How the community answered

(50 responses)

A
14% (7)
B
10% (5)
C
4% (2)
D
72% (36)

Topics

#joint accounts#checking accounts#account titling#deposit accounts

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