SERIES 6 CANDIDATES SHOULD STUDY AND KNOW DIFFERENT ACCOUNT REGISTRATION TYPES
The Series 6 exam asks questions about account registration types, such as tenants-in-common, joint tenants with rights of survivorship, community property, sole proprietorships, partnerships, corporations, and unincorporated associations. How do I know that the Series 6 asks questions on various account registrations? Section 2.1 of FINRA's Content Outline lists the v arious types of account registrations as Series 6 required knowledge . Therefore make sure that you can describe and define each of the various account registrations. For example, what is the difference between tenants in common and joint tenants with rights of survivorship (JTWROS)? Joint tenancy is common among married couples. It means that if one of the partners or "tenants" die, his or her portion will automatically pass to the surviving partner. However, tenancy in common does not automatically pass a deceased tenant's share to the surviving tenant. The deceased partner's share simply goes in...