Series 7 Exam Question 303: Answer and Explanation

Question: 303

All of the following can validate a mutilated certificate EXCEPT

• A. the issuer
• B. the broker-dealer
• C. the registrar
• D. the paying agent

Correct Answer: B

Explanation:

B. Broker-dealers cannot validate mutilated certificates. Mutilated certificates must be validated by entities directly associated with the issuer.