Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following is not good delivery on a sale of 470 shares?
  1. 47 10-share certificates
  2. 4 100-share certificates and one 70-share certificate
  3. 8 50-share certificates, one 40-share certificate, and one 30-share certificate
  4. 2 100-share certificates and 3 90-share certificates
Explanation
Answer: D - 2 100-share certificates and 3 90-share certificates. Three 90-share certificates are not good delivery because they cannot be combined into 100-share amounts.
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