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    Question

    In case of the death of a bank account holder, payment

    to a registered nominee means:
    A Nominee becomes the legal heir to the money Correct Answer Incorrect Answer
    B Nominee acts as a trustee to hand over funds to legal heirs Correct Answer Incorrect Answer
    C Nominee can use the money as personal property Correct Answer Incorrect Answer
    D Nominee can transfer funds directly to government accounts Correct Answer Incorrect Answer
    E Nominee can immediately close the account permanently Correct Answer Incorrect Answer

    Solution

    Nominee is merely a custodian, not the legal heir; actual ownership is decided as per succession laws.

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