SERIES 6 CANDIDATES, STUDY AND KNOW THE VARIOUS TYPES OF ACCOUNT REGISTRATION AND BE ABLE TO DISTINGUISH THEIR SIMILARITIES AND DIFFERENCES
Are you planning to take the Series 6 Exam to qualify as representatives registered to sell mutual funds and variable annuities? Then be forewarned that FINRA's Content Outline for the Series 6 Exam includes account registration types in Section 2.1. These account registration types include tenancy in common (TIC), tenancy by the entirety, joint tenancy with rights of survivorship (JTWROS), and others. Bob Eder has a full treatment of the types of account registration in his Study for the Series 6 Exam . Here is a sample of Bob Eder's discussion: Tenancy by the Entirety (2.1) This form of ownership is available only between married couples. About 20 states still permit tenancy by the entirety. It grants the wife equal right to the use of the property ab initio , i.e., from the very beginning of the partnership, for example, the family home. Tenancy by the entirety considers husband and wife to be one legal unit. It does not permit creditors to attach the interests of one of