Series 7 Exam Question 70: Answer and Explanation

Question: 70

Which of the following partnership documents includes the rights and responsibilities of the general and limited partners?

• A. Certificate of limited partnership
• B. Subscription agreement
• C. Partnership agreement
• D. Both (A) and (C)

Correct Answer: C

Explanation:

C. The partnership agreement lays out the rights and responsibilities of the limited and general partner(s).