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10 Cards in this Set

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  • Back
Fiduciary
a third party who has been legally appointed to prudently manage the account on behalf of another person or entity.
custodial
an adult who has been designated to act on behalf of a child, who is the beneficial owner of the account.
Cash Account
The basic investment account, in a cash account a customer pays in full for any securities purchased.
Margin Accounts
Allows a customer to borrow money for investing.
partnership agreement
an unincorporated association of two or more individuals. Partnerships frequently open cash, margin, retirement, and other types of accounts necessary for business purposes.
Prudent investor Rule
Requires fiduciaries to make wise and safe investments.
Discrectionary Account
An account setup with preapproved authority for a registered represetative to make transactions without having to ask for specific approval.
Trading Authorization
A document (limited power of attorney) that is filed in order to allow a broker/dealer the ability to make discretionary transactions for a client.
JTWROS
Joint Tenants with Right of Survivorship: ownership stipulates that a deceased tenants interest in the account passes to the surviving tenants.
TIC
Tenants in Common: Ownership provides that a deceased tenants fractional interest in the account is retained by that tenants estate and is not passed to the surviving tenant.