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FINRA Series 7

Category - Series 7

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Which of the following is not usually an additional function of a mutual fund’s custodial bank?

transfer agent
investment advisor
registrar
dividend disbursing agent

Explanation

Answer: B - investment advisor. The custodial bank is usually also selected for other functions, but not as investment advisor. That assignment is generally performed by a special advisory firm or the mutual fund management company.

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