FINRA General Securities Representative SIE Question # 42 Topic 5 Discussion
SIE Exam Topic 5 Question 42 Discussion:
Question #: 42
Topic #: 5
For which of the following account types will the partial ownership pass into an estate account upon the death of one of the individuals listed on the account?
In atenants in commonaccount, each owner has a distinct percentage of ownership. Upon the death of one owner, their share does not transfer to the surviving owner(s); instead, it becomes part of the deceased’s estate.
C is correctbecause ownership is divided, and the deceased’s share passes to their estate.
Ais incorrect because partnerships have different agreements governing ownership transitions.
Bis incorrect because trust corporations are governed by trust agreements, not estate processes.
Dis incorrect because JTWROS accounts pass ownership directly to the surviving account holder(s).
[Reference:SIE Study Guide, Chapter 9: Account Ownership and Beneficiaries, ]
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