Series 7 - General Securities Representative Exam

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UGMA accounts

Are JTWROS accounts
A
Are JTIC accounts
B
Are custodial accounts
C
Are individual accounts
D
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Explanations

UGMA accounts (Uniform Gifts To Minors Act) are custodial accounts set up for a child that is too young to have his or her own account. The adult custodian makes the investment decisions for the account

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