Passlane Sign in

Ch.9 · Systematic Transactions — SIP, SWP, STP · medium

In a mutual fund folio, which of the following is the correct order of holding for joint accounts in terms of redemption authority?

0% of students got this wrong

EXPLANATION

In 'Either or Survivor' mode, any joint holder can redeem independently. In 'Joint' mode, all holders must sign the redemption request. The holding mode governs operational authority.

A.Any one holder can redeem independently by default

B.All holders must always sign regardless of holding mode

C.Either or Survivor — any holder can redeem; Joint — all holders must sign [✓ Correct]

D.Only the first holder can submit redemption requests

EXPLANATION

In 'Either or Survivor' mode, any joint holder can redeem independently. In 'Joint' mode, all holders must sign the redemption request. The holding mode governs operational authority.

Practising Chapter 9 one question at a time?

Try the full chapter — 80 questions, tracked score, weak area breakdown.

Practice Chapter 9 →Take the mock test →