n NISM Certifications
X NISM Series X
Medium

When a person dies intestate, their property is distributed according to the applicable laws of succession, such as the Hindu Succession Act or Indian Succession Act, depending on their religion.

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Laws of succession

    Correct answer

  2. B

    Court Orders

  3. C

    Probate

  4. D

    Family Settlement

Why this is the answer

In the absence of a will, property distribution follows the laws of inheritance and succession applicable to the deceased's religion.

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