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Question # 71

Which of the following best describes the role of a custodian bank in broker-dealer operations?

Options:

A.

Issues new securities on behalf of corporations

B.

Holds customer securities in safekeeping and processes settlements

C.

Guarantees clearing of all derivative contracts

D.

Provides SIPC insurance for customer accounts

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Series 99 License Overview

Name Series 99 License
Code Series 99 License
Vendor Finance, Insurance and Real Est
Certification Financial Industry Regulatory Authority (FINRA)

Series 99 License Questions