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FINRA Series 7

Category - Series 7

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The return by the receiving party of securities previously accepted for delivery or a demand by the delivering party for return of securities that have been delivered is called:

rejection
close-out
reclamation
re-delivery

Explanation

Answer: C - reclamation. In a reclamation a dealer requests that another dealer reclaim an improper delivery.

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FINRA Series 7

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FINRA Series 7

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