Executor / Executrix is an individual with the authority to manage the affairs of a decedent’s estate.
Applying "Executor / Executrix" to Securities Exams:
When a person dies their assets become part of what is collectively referred to as their estate, and an executor is appointed to oversee the distribution of the deceased’s estate. An executor may be an attorney, but that is not a prerequisite, as anyone can be appointed executor. If stock or bond certificates are part of the estate, the executor’s signature would be required in order to make "good delivery" on the sale of those securities.