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Official Practice ProblemFINRA Series 7 Blueprint: Function 1
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Question #s7-prep3-s7-q-356Function 1Fundamental

Account Types

Which type of joint account features the right of survivorship?

Correct Choice: D

Both Joint Tenants with Right of Survivorship (JTWROS) and Tenancy by the Entirety feature the right of survivorship, where the surviving owner(s) automatically inherit the deceased owner's share. Tenancy by the entirety

Complete Analysis & Legal Rationale

Both Joint Tenants with Right of Survivorship (JTWROS) and Tenancy by the Entirety feature the right of survivorship, where the surviving owner(s) automatically inherit the deceased owner's share. Tenancy by the entirety is available only to married couples. Tenants in common has no survivorship rights.

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:

Choice AIncorrect
Concept Trap

Does not match the governing concept in the explanation.

Choice BIncorrect
Concept Trap

Does not match the governing concept in the explanation.

Choice CIncorrect
Concept Trap

Does not match the governing concept in the explanation.

Choice DCorrect
None

Matches the verified teaching point in the explanation.

Authorities & References:

Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA materials.

🏛️

Regulatory Authority & Citations: Primary Legal Sources

Verified citations governing Question #s7-prep3-s7-q-356 (FINRA Series 7 Content Outline)

To pass the FINRA Series 7, candidates must understand not just the calculation formulas, but the exact federal securities acts, SRO rulebooks, and statutory frameworks that enforce them. Review the primary authority records below:

FINRAFINRA Series 7 Content Outline— General Securities Representative Examination (Series 7) Content Outline

Outline-level citation pending rule-specific upgrade. Verify against current FINRA materials.

Read FINRA Official Rule

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