NISM-Series-VII Authorized Test Dumps | Online NISM-Series-VII Lab Simulation

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NISM NISM-Series-VII Exam Syllabus Topics:

Section	Objectives
Topic 1: Investor Grievance Redressal	- Process of investor grievances redressal 1. Procedures for handling complaints 2. Regulatory requirements
Topic 2: Regulatory Framework	- Role of the Securities and Exchange Board of India (SEBI) 1. Regulatory oversight 2. Investor protection
Topic 3: Trade Life Cycle	- Steps and participants involved in the trade life cycle 1. Clearing and settlement process 2. Role of the back office in a securities broking firm
Topic 4: Securities Broking Operations	- Front Office, Middle Office and Back Office functions in a Securities Broking Firm 1. Risk management 2. Trade execution 3. Settlement processing
Topic 5: Risk Management	- Risk management in a securities broking firm 1. Identifying and mitigating risks 2. Compliance and control measures
Topic 6: Indian Securities Market	- Overview of the Indian securities market 1. Various market participants and their roles 2. Different products traded

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Online NISM-Series-VII Lab Simulation - NISM-Series-VII Test Online

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions (Q289-Q294):

NEW QUESTION # 289
What is the primary benefit of 'Interoperability' among Clearing Corporations for a Clearing Member (CM)?

A. It allows the CM to execute trades on the Exchange without maintaining a Base Minimum Capital.
B. It enables the CM to select a single Clearing Corporation to clear and settle trades executed on multiple stock exchanges.
C. It guarantees that the CM will receive interest on the cash component of the Core Settlement Guarantee Fund.
D. It mandates the CM to maintain separate settlement accounts for each Exchange, thereby segregating risk.
E. It allows the CM to act as a Custodian for institutional clients without separate registration.

Answer: B

Explanation:
Inter-operability among Clearing Corporations enables a Clearing Member to select the Clearing Corporation of its choice to clear and settle trades executed in multiple exchanges. This allows market participants to consolidate their clearing and settlement functions at a single Clearing Corporation.

NEW QUESTION # 290
Regarding the maintenance of a Running Account for funds by a stock broker for a client, which of the following statements accurately reflects the regulatory requirement for the actual settlement of funds?

A. Settlement is mandatory only when the credit balance exceeds Rs. 10,000; otherwise, funds can be retained indefinitely.
B. Settlement dates are determined individually by each stock broker based on their internal risk management policy.
C. Settlement must occur within 24 hours of the payout for every transaction, regardless of the running account authorization.
D. Settlement shall be done on the first Friday and/or Saturday of every month/quarter, based on the annual calendar issued jointly by Stock Exchanges.
E. Settlement must be done on the last trading day of every month or quarter as per the client's preference.

Answer: D

Explanation:
As per the source, the settlement of running accounts of funds shall be done on 'Quarterly and monthly basis, on the dates stipulated by the Exchanges'. Specifically, 'Settlement of running account shall be settled on first Friday and/or Saturday of every month/quarter.' Stock exchanges jointly issue the annual calendar for this purpose.

NEW QUESTION # 291
For the purpose of corporate action adjustments in the Equity F&O segment, under what specific condition is a dividend deemed to be 'extra-ordinary', thereby necessitating an adjustment to the futures and options contracts?

A. If the dividend yield exceeds the risk-free interest rate (MIBOR) prevailing on the declaration date.
B. If the dividend amount exceeds 10% of the closing price of the scrip on the record date.
C. If the dividend is declared as an 'interim' dividend rather than a 'final' dividend.
D. If the dividend amount is at and above 2% of the market value of the underlying security.
E. If the dividend declared is more than 5% of the paid-up capital of the company.

Answer: D

Explanation:
According to the methodology for adjustment in Equity F&O, for extra-ordinary dividends i.e., at and above 2 percent of the market value of the underlying security, there would be an adjustment in Equity F&O. Dividends below this threshold are deemed ordinary and no adjustment is made.

NEW QUESTION # 292
Under the 'Block Mechanism' in demat accounts for sale transactions, what is the specific operational protocol regarding the movement and unblocking of shares if the sale transaction is **not** executed on the trade day (T day)?

A. Shares are automatically transferred to the Trading Member's pool account and returned to the client on T+1 day.
B. Shares remain blocked until the client explicitly submits a cancellation instruction via the depository participant.
C. Shares are debited from the client's account and held in a suspense account by the Depository until the next trading session.
D. Shares are transferred to the Clearing Corporation's settlement pool and returned only after the auction session on T+1 .
E. Shares continue to remain in the client's demat account and will be unblocked at the end of the T day.

Answer: E

Explanation:
According to the block mechanism framework, if a sale transaction is not executed, the shares shall continue to remain in the client's demat account and will be unblocked at the end of the T day. This eliminates the movement of shares from the client's demat account for early pay- in and back if the trade is not executed.

NEW QUESTION # 293
In the context of handling settlements during holidays, specific provisions are made regarding the utilization of assets received from a prior settlement. How is the pay-out from the first settlement treated in relation to subsequent obligations?

A. It is automatically converted into liquid assets and pledged to the Core Settlement Guarantee Fund.
B. The cash or securities pay out from the first settlement shall be made available to the member for meeting his pay-in obligations for the subsequent settlement(s).
C. It is locked in the member's pool account for 24 hours to prevent misuse.
D. It must be transferred to the client's beneficiary account immediately and cannot be used for subsequent proprietary obligations.
E. It is returned to the Clearing Corporation to cover potential shortfalls in the subsequent settlement's auction.

Answer: B

Explanation:
The source states: 'The cash or securities pay out from the first settlement shall be made available to the member for meeting his pay-in obligations for the subsequent settlement(s).'

NEW QUESTION # 294
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