SIE Understanding Products and Their Risks Practice Question 18
Question: 18
Which of the following is common to both limited partnerships and tenant in common (TIC) transactions?
Correct Answer: A
Explanation:
A: Limited partnerships (LPs) and tenant in common (TIC) transactions often involve investment in real estate. Choice B is true of LPs, but change in TIC participants requires acceptance of the new investor by the bank making the loan. Choice C is true of LPs, but TICs require unanimous consent. Choice D is true of TICs, whereas LPs may be limited to fewer than five hundred investors by securities law.
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