Banking Awareness - Types Of Bank Accounts
Which joint account instruction is generally preferred when one account holder is less active in daily banking operations?
Which joint account instruction is generally preferred when one account holder is less active in daily banking operations?
medium Q8 of 15
Step-by-Step Solution
Step 1: Identify the activity pattern.
One holder is less active.Step 2: Match with suitable rule.
Former or Survivor allows only one (first-named) to operate.Final Answer:
Former or Survivor → Option BQuick Check:
Single active holder = Former or Survivor ✅
Quick Trick: Single active holder points to Former or Survivor.
Common Mistakes:
- Choosing Jointly which complicates operations.
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