Series 10 Exam Question 50: Answer and Explanation

Question: 50

An MSRB member executes an order for an institutional customer in the marketplace. The customer purchases municipal bonds issued 10 years ago, maturing in 5 years. According to Rule G-15, all of the following must be on the customer's confirmation, EXCEPT:

• A. A CUSIP number.
• B. The extended principal.
• C. The type of securities registration.
• D. The legal opinion.

Correct Answer: D

Explanation:

All of the answers are required on the confirmation except a legal opinion.