Series 6 Customer Account Types

Account-type questions test whether the representative understands who legally controls the assets and who has authority to act. That matters because the same investment recommendation may be handled differently depending on whether the account is individual, joint, custodial, trust-based, or owned by a legal entity.

High-Yield Account Distinctions

The strongest answer identifies the ownership form first, then asks what documents or authority support the action in the fact pattern.

Key Takeaways

• Account type determines authority, transfer treatment, and documentation needs.
• Joint, custodial, and trust accounts are common Series 6 distinction traps.
• The safest answer is the one that respects the legal ownership structure before taking action.

In this section

• Series 6 Individual Accounts
  Ownership, authority, and practical features of individual customer accounts for Series 6.
• Series 6 Joint Accounts
  Shared ownership structures, rights, and exam-tested distinctions among joint account types.
  • Series 6 JTWROS Accounts
    How joint tenants with right of survivorship accounts work and why they matter on Series 6.
  • Series 6 Tenants in Common Accounts
    Ownership shares, transfer rules, and exam distinctions for tenants in common accounts.
• Series 6 Custodial Accounts
  Custodial accounts for minors, including ownership, control, and transfer rules tested on Series 6.
  • Series 6 UGMA Accounts
    UGMA account structure, permitted assets, and control rules relevant to the Series 6 exam.
  • Series 6 UTMA Accounts
    UTMA account structure, broader asset coverage, and transfer rules tested on Series 6.
• Series 6 Corporate and Partnership Accounts
  Authorization, documentation, and control issues for corporate and partnership accounts on Series 6.
• Series 6 Trust Accounts
  Trust account authority, trustee powers, and documentation issues tested on the Series 6 exam.