RFC® Registered Financial Consultant Exam

A 'wait-and-see' buy-sell agreement is best described as one in which:

The business has no obligation to purchase a departing owner's interest The entity has first right to purchase, followed by the surviving owners if the entity declines Surviving owners must decide whether to buy at the time of the triggering event The purchase price is determined after the triggering event occurs

Correct Answer:

The entity has first right to purchase, followed by the surviving owners if the entity declines

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