A Series 24 Exam Question!

Here is a great series 24 exam question from the Supervision of Brokerage Office Operations section of the series 24 exam:

When a customer enters a sell order and the customer is in possession of the certificates, a broker dealer must determine all of the following except:


A) Whether the securities are in deliverable form

B) The location of the securities

C) Whether the client can make delivery promptly

D) Whether the transfer agent has accepted the securities

ANSWER:

D) A firm must make an affirmative determination and be reasonably sure the client can make prompt delivery. Approval of the transfer agent is not a factor when accepting a sell order.

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