California Private Investigator Practice Exam

According to the State Controller's Office, what is the most common type of unclaimed property?

1. Real estate

2. Bank accounts

3. Vehicles

4. Investment properties

The correct answer is: Bank accounts

The most common type of unclaimed property, as identified by the State Controller's Office, is bank accounts. This is primarily because individuals may forget about old accounts, or they may change addresses and lose track of account information. Unclaimed bank accounts typically include savings accounts, checking accounts, and certificates of deposit that have not had any activity for a certain period of time. In contrast, real estate, vehicles, and investment properties, while they can also become unclaimed due to a variety of situations, tend to involve more complex ownership issues and are less frequently abandoned compared to bank accounts, which can be less immediately noticeable. This prevalence of unclaimed bank accounts highlights the importance of keeping personal financial records organized and regularly checking on accounts to avoid losing track of them.