SIE practice questionhardAccount Types: Estate Accounts
An executor opens an estate account with a broker-dealer after a client’s death. Which document is REQUIRED for authorization?
- AA power of attorney from the deceased
- BThe decedent's last will only
- CA copy of the court appointment (letters testamentary)✓ Correct answer
- DA medical certificate
Explanation
Why C — A copy of the court appointment (letters testamentary)
The executor must provide court-issued documents, such as letters testamentary, showing legal authority to act for the estate. A will alone is not sufficient for broker-dealer authorization, and a power of attorney terminates at death.
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