Answer:
Each account separately.
Explanation:
Securities Investor Protection Corporation coverage is applied "PER CUSTOMER NAME."
Therefore, if a customer has an individual cash account and individual margin account, that is considered as one name; the joint margin account with his wife is a second name; the custodian account for each of the two children is third name; and fourth name respectively.
Hence, If the firm liquidates, Securities Investor Protection Corporation covers four accounts.
