Account Types
Which statement is TRUE about a tenants in common account?
TIC: no right of survivorship, unequal ownership OK, any number of owners. JTWROS: right of survivorship, equal shares.
Complete Analysis & Legal Rationale
In a tenants in common (TIC) account, there is no right of survivorship. When one owner dies, their share passes according to their will or state intestacy laws, not automatically to surviving owners. Ownership percentages can be unequal, any number of owners is allowed, and they need not be related.
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 materials.