Series 6 - Investment Company And Variable Contracts Products Representative Exam
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A mother bought $12,000 of XYZ stock in 2001. When she died in 2012, the stock was valued at $23,000. If the children decide to sell the stock after inheriting it, what is the fair market value of the stock?
$0
A
$11,000
B
$12,000
C
$23,000
D
Explanations
When a person dies and leaves securities to heirs, the cost basis to the recipient is the fair market value on the date of the account owner's death.
Pricing
Basic
Part of the questions for each course
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- Course
- Questions
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- SIE
- 20 of 150
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- Series 6
- 30 of 500
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- Series 7
- 50 of 625