With Regard to Clearing Procedures for Bond Transactions,when a Transaction

question 44

Multiple Choice

With regard to clearing procedures for bond transactions,when a transaction is conducted,electronic book entries are made that transfer book ownership of the bond certificates from the seller to the buyer and transfer funds from the purchaser's cash account to the seller's.However,

• A)physical transfer of the bonds seldom takes place.
• B)the physical transfer of the bonds takes place as much as 3 days later.
• C)the physical transfer of the bonds takes place as much as 6 weeks later.
• D)the physical transfer of bonds only occurs if the depository banks that physically store bond certificates are different for the buyer and seller.

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