NISM-Series-VII: NISM Series VII - Securities Operations and Risk Management Certification PDF - Testinsides NISM-Series-VII actual - NISM-Series-VII test dumps

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NISM NISM-Series-VII Exam Syllabus Topics:

Section	Objectives
Topic 1: Indian Securities Market	- Overview of the Indian securities market 1. Different products traded 2. Various market participants and their roles
Topic 2: 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 3: Risk Management	- Risk management in a securities broking firm 1. Compliance and control measures 2. Identifying and mitigating risks
Topic 4: Regulatory Framework	- Role of the Securities and Exchange Board of India (SEBI) 1. Regulatory oversight 2. Investor protection
Topic 5: 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 6: Investor Grievance Redressal	- Process of investor grievances redressal 1. Regulatory requirements 2. Procedures for handling complaints

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions (Q302-Q307):

NEW QUESTION # 302
According to the requirements for maintaining books of account, what specific details must be recorded in the 'Register of Transactions' (Sauda Book)?

A. Details of all dematerialized securities held in the broker's pool account and beneficiary account.
B. Only the net obligation of funds and securities to be settled with the Clearing Corporation.
C. General expenses, overheads, salaries, and petty cash adjustments for the broking firm.
D. Each transaction effected, showing the name of the security, its value, rates gross and net of brokerage, and names of the clients.
E. Receipts and payments of funds involving clients, distinguishing between margin and settlement obligations.

Answer: D

Explanation:
The Register of Transactions (Sauda Book) is required to include each transaction effected. It must show the name of the security, its value, rates gross and net of brokerage, and names of the clients.

NEW QUESTION # 303
A purchaser of securities wishes to streamline the process of receiving securities into their demat account. What are the permissible modes for a client to handle receipt instructions with their Depository Participant (DP)?

A. Standing instructions are only valid for government securities and not for equity shares.
B. The client must mandatorily issue a separate physical receipt instruction for every single trade.
C. The client must grant a Power of Attorney to the Clearing Corporation to auto-credit securities.
D. Receipt instructions are not required at all as the Clearing Corporation has a unilateral right to credit any account.
E. The client can give a one-time standing instruction to the DP for receiving securities, or choose to issue separate receipt instructions for each purchase.

Answer: E

Explanation:
A purchaser of securities can give a one-time standing instruction to his DP for receiving securities in his account. This standing instruction can be given at the time of opening of account or later. Alternatively, the client may choose to issue separate receipt instruction to his DP every time the client makes any purchase of securities.

NEW QUESTION # 304
Which of the following guidelines are mandated to enable smooth settlement processes and help Clearing Corporations meet obligations in case of holidays? (Select all that apply)

A. Depositories shall facilitate inter-depository transfers within one hour and before pay-in for the subsequent settlement begins.
B. Settlements for all trade dates falling on holidays must be deferred to the next working week.
C. Pay-in and pay-out of the first settlement must be completed before the commencement of the subsequent settlement.
D. CCs shall clear and settle trades on a sequential basis.
E. Members are prohibited from using the pay-out of the first settlement for the subsequent settlement's pay-in.

Answer: A,C,D

Explanation:
The guidelines include: 1. 'The CCs shall clear and settle the trades on a sequential basis'; 2. 'pay-in and the pay-out of the first settlement shall be completed before the commencement... of the subsequent settlement(s)'; 3. 'depositories shall... facilitate the inter-depository transfers within one hour and before pay-in for the subsequent settlement begins.' Option D is incorrect as settlements are completed on the same day. Option E is incorrect as the pay-out is specifically made available for the subsequent pay-in.

NEW QUESTION # 305
A securities broking firm configures its Compliance Management System (CMS) to manage data retention policies in accordance with the Prevention of Money-Laundering Act (PMLA), 2002.
Review the JSON configuration snippet below regarding record retention timelines:

Based on the SEBI directives and PMLA provisions, which setting in the configuration is legally NON-COMPLIANT?

A. All settings are compliant
B. suspicious_transaction_reports: 5_years_from_reporting_date
C. transaction_records: 5_years_from_transaction_date
D. client_identity_documents: 3_years_from_account_closure
E. Both transaction_records and suspicious_transaction_reports

Answer: D

Explanation:
According to Section 12 of the PMLA, 2002, reporting entities must maintain records of documents evidencing the identity of clients and beneficial owners (e.g., account files, business correspondence) for a period of five years after the business relationship has ended or the account has been closed, whichever is later. The configuration setting of '3 years' is non-compliant.

NEW QUESTION # 306
Identify the trading sessions or mechanisms that are explicitly NOT applicable under the T+0 settlement cycle. (Select all that apply)

A. Continuous Trading Session
B. Auction Session
C. Pre-open Session
D. Early Pay-in via Block Mechanism
E. Post Close Session

Answer: B,C,E

Explanation:
According to the source, 'Pre-open, Special Pre-open, Block window, Auction, Periodic call auction and Post close session are not applicable under T+0 settlement.' Note: While a later circular advised facilitating a block deal window, the core exclusions listed include Pre-Open, Auction, and Post Close. Continuous Trading and Early Pay-in are applicable features.

NEW QUESTION # 307
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