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Which joint account requires all account holders to jointly authorise every transaction?

easy Q3 of 15
Banking Awareness - Types Of Bank Accounts
Which joint account requires all account holders to jointly authorise every transaction?
AJointly
BEither or Survivor
CAnyone or Survivor
DFormer or Survivor
Step-by-Step Solution

  1. Step 1: Identify the operation requirement.

    All holders must approve transactions.

  2. Step 2: Match with the account type.

    This is the definition of a Jointly operated account.

  3. Final Answer:

    Jointly → Option A

  4. Quick Check:

    All must sign = Jointly ✅
Quick Trick: All signatures required means Jointly.
Common Mistakes:
MISTAKES
  • Selecting Either or Survivor despite joint operation requirement.
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