Handler "PageHandlerFactory-Integrated" has a bad module "ManagedPipelineHandler" in its module list

After an update to Microsoft .NET 4.0 or upon initial setup of IIS an HTTP Error 500.21 - Internal Server Error is received with a description of Handler "PageHandlerFactory-Integrated" has a bad module "ManagedPipelineHandler" in its module list.

Microsoft .NET 4.0 Framework was not completely installed with IIS or a change was made requiring it be re-installed in IIS.

1. Execute the following based on 32 or 64 bit versions of .NET 4.0 and the Operating System.

64 bit Operating System

%windir%\Microsoft.NET\Framework64\v4.0.30319\aspnet_regiis.exe -i

32 bit Operating System

%windir%\Microsoft.NET\Framework\v4.0.21006\aspnet_regiis.exe -i

2. Review the Application pools to ensure the .NET Framework, Managed PipeLine Mode and Identity are correct.

Here is a screenshot of the typical Application pools for SecureAuth.

3. If this is the first time the Web Admin Console has been run you must run Update Web.config otherwise the console will error.