Uits
In a limited partnership DPP, which partner has unlimited liability?
The general partner (GP) has unlimited personal liability for partnership obligations. Limited partners have liability limited to their investment amount, as long as they do not participate in management decisions.
Complete Analysis & Legal Rationale
The general partner (GP) has unlimited personal liability for partnership obligations. Limited partners have liability limited to their investment amount, as long as they do not participate in management decisions.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Does not match the governing concept in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing concept in the explanation.
Does not match the governing concept in the explanation.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.