The Process of Providing Custody and Escrow Services, Clearance and Settlement

question 32

Multiple Choice

The process of providing custody and escrow services, clearance and settlement services, and research and other advisory services by a securities firm involves the function of

• A)mergers and acquisitions.
• B)market making.
• C)investment banking.
• D)back-office functions.
• E)cash management services.

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Definitions:

Clouded Title

A title that has any irregularity, claim, or lien that creates uncertainty about the true ownership of the property.

Oral Agreement

A verbal contract in which the terms are agreed upon through spoken communication rather than in writing.

Specific Instructions

Detailed directions or orders issued for performing a particular task or operation.

Unenforceable

Refers to a contract or clause that, due to legal reasons, cannot be executed or enforced by law.