Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following will not result in termination of a limited partnership?
  1. transfer of ownership of a limited partnership interest
  2. sale or transfer of partnership assets
  3. majority vote of the limited partners to end the partnership
  4. arrival of the termination date established in the partnership agreement
Explanation
Answer: A - transfer of ownership of a limited partnership interest. Transfer of ownership does “not” result in automatic termination.
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