n NISM Certifications
X NISM Series X
Medium

When does a 'Will' take legal effect?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    When it is made and signed

  2. When the maker of the Will dies

    Correct answer

  3. C

    When the court approves it

  4. D

    When registered with a notary

Why this is the answer

A Will becomes operative only upon the death of the testator, serving as a posthumous instruction for asset distribution.

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