NISM Series VII - Securities Operations and Risk Management Certification pdf test & NISM-Series-VII test dumps

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NISM NISM-Series-VII Exam Syllabus Topics:

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

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions (Q155-Q160):

NEW QUESTION # 155
Stock Exchanges are required to jointly issue an annual calendar for the settlement of running accounts. According to the regulations, on which specific days of the month/quarter is the settlement of running accounts scheduled to take place?

A. First Monday and/or Tuesday of every month/quarter.
B. Any day chosen by the broker provided the gap does not exceed 30/90 days.
C. 15th and/or 30th of every month/quarter.
D. Last Friday and/or Saturday of every month/quarter.
E. First Friday and/or Saturday of every month/quarter.

Answer: E

Explanation:
To ensure uniformity and clarity, settlement of running account shall be settled on the "first Friday and/or Saturday" of every month/quarter. Stock exchanges issue the annual calendar for this purpose.

NEW QUESTION # 156
A claim against a defaulter trading member is received by the Stock Exchange after three years from the date of expiry of the specified period for lodging claims. How is such a claim categorized under the IPF guidelines?

A. It is referred to the SEBI Complaints Redressal System (SCORES) for arbitration.
B. It is treated as a priority claim but paid only after all timely claims are settled.
C. It may be dealt with as a civil dispute.
D. It is automatically rejected and cannot be pursued in any forum.
E. It is eligible for 50% of the compensation limit applicable to timely claims.

Answer: C

Explanation:
The text states: 'Any claim received after three years from the date of expiry of the specified period may be dealt with as a civil dispute.'

NEW QUESTION # 157
In the context of risk management for the T+0 settlement cycle, how are securities shortages handled if a selling member fails to deliver shares?

A. Security shortages are directly closed out at 10% above the highest price of the day across all exchanges for the T+0 market.
B. By conducting an auction session on T+1 day along with the regular market auction.
C. The trade is annulled, and the buyer is refunded the transaction amount without penalty.
D. By imposing a standard valuation debit of 20% above the closing price.
E. By conducting an auction session on T+0 day at 2:30 PM.

Answer: A

Explanation:
The source states that 'Auction shall not be conducted in case of securities shortage. Security shortages shall be directly closed out at 10% above the highest price of the day across all exchanges for T+0 market.'

NEW QUESTION # 158
Regarding the settlement timelines for Mutual Fund transactions executed on the Stock Exchange platform, which of the following statements accurately describes the funds pay-in requirement for subscription and the funds pay-out timeline for redemption?

A. Funds pay-in for subscription: T+0; Funds pay-out for redemption: T+0 for Liquid funds and T+2 for Equity funds.
B. Funds pay-in for subscription: T+2; Funds pay-out for redemption: T+3.
C. Funds pay-in for subscription: T+0; Funds pay-out for redemption: T+1 to T+7 depending on the scheme.
D. Funds pay-in for subscription: T+1 ; Funds pay-out for redemption: T+1 for all schemes.
E. Funds pay-in for subscription: T+1 ; Funds pay-out for redemption: T+2.

Answer: C

Explanation:
Funds pay-in for subscription are done on a T+0 day basis. The transfer of funds for redemption is carried out on a T+1 , T+2, T+3, T+4, T+5, T+6 and T+7 basis depending upon the category of scheme.

NEW QUESTION # 159
Select the correct statements regarding the online risk management system capabilities that a broker must possess for Middle Office Operations. (Select all that apply)

A. The system must maintain separate ledgers for proprietary and client trades but need not monitor them in real-time.
B. Only orders within parameters like Order Quantity, Value Limits, and Price Limits should be pushed to the exchange.
C. The system should have the capability to generate reports relating to margin requirements and delivery obligations.
D. The system should strictly allow order modification only after trade execution is confirmed by the back office.
E. The system must have on-line real-time risk management for all orders placed on the exchange trading system.

Answer: B,C,E

Explanation:
The source specifies: 'The broker system should have an on-line risk management capability for all orders placed on the Exchange platform.' (Option A). 'The system should have pre-defined limits / checks such as Order Quantity and Value Limits... and only such orders which are within the parameters specified by the RMS are allowed to be pushed into exchange trading engines.' (Option C). 'The broker system should have capability to generate reports relating to margin requirements, payments, and delivery obligations.' (Option E).,

NEW QUESTION # 160
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