The delivery of which of the following to a broker/dealer would be considered a fail to deliver?
A mutilated certificate.
A municipal bond without the legal opinion attached.
A bond trading ex-legal without a legal opinion attached.
Certificates delivered in par value denominations totaling the amount of the transaction.
A) III and IV.
B) I and II.
C) I and III.
D) II and III.
Answer: B) I and II.