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NISM NISM-Series-VII Exam Syllabus Topics:

SectionObjectives
Depository Operations- Corporate actions
  • 1. Dividends, bonuses, splits
    • 2. Record dates and entitlement processing
      - Demat account framework
      • 1. NSDL and CDSL roles
        • 2. Account opening and maintenance
          Clearing and Settlement- Clearing mechanisms
          • 1. Netting and settlement obligations
            • 2. Clearing corporations and counterparties
              - Settlement systems
              • 1. Margining and risk adjustments
                • 2. T+1/T+2 settlement cycles
                  Risk Management in Securities Markets- Market and operational risk
                  • 1. Types of financial risks
                    • 2. Operational risk controls
                      - Risk mitigation systems
                      • 1. Surveillance and compliance mechanisms
                        • 2. Margins and collateral systems
                          Securities Market Operations- Trading process
                          • 1. Trade confirmation and reporting
                            • 2. Order execution and trade lifecycle
                              - Market participants and structure
                              • 1. Roles of brokers, exchanges, and investors
                                • 2. Order types and trading mechanism basics

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                                  最新的 National Institute of Securities Markets NISM-Series-VII 免費考試真題 (Q94-Q99):

                                  問題 #94
                                  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?

                                  答案:D

                                  解題說明:
                                  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.


                                  問題 #95
                                  SEBI has mandated the Direct Pay-out of securities to client demat accounts. What is the specific operational consequence of this mandate regarding the revision of the securities pay-out timing in the T+1 settlement cycle?

                                  答案:D

                                  解題說明:
                                  As a consequence of the mandate for securities for pay-out to be credited directly to the respective client's demat account by the Clearing Corporations, the timing of the payout of securities shall be revised from 1:30 PM to 3:30 PM. This ensures securities are credited on the same settlement day.


                                  問題 #96
                                  A Trading Member executes the following trades in a specific scrip on a given day:
                                  * Buy 500 shares @ Rs. 100
                                  * Sell 300 shares @ Rs. 105
                                  * Buy 200 shares @ Rs. 95
                                  What are the final Net Quantity and Net Fund obligations for the member to be settled with the Clearing Corporation?

                                  答案:E

                                  解題說明:
                                  Net Quantity:
                                  Total Buy = 500 + 200 = 700.
                                  Total Sell = 300.
                                  Net Qty = 700 - 300 = 400 (Buy/Receive).
                                  Net Funds:
                                  Outflow (Buy) = + (200*95) = 50,000 + 19,000 = Rs. 69,000.
                                  Inflow (Sell) = 300*105 = Rs. 31 ,500.
                                  Net Funds = Inflow - Outflow = 31 ,500 - 69,000 = -37,500.
                                  Negative implies Pay Rs. 37,500.


                                  問題 #97
                                  With the implementation of direct pay-out of securities to client accounts by Clearing Corporations, what is the revised timing for the pay- out of securities in the T+1 rolling settlement cycle?

                                  答案:E

                                  解題說明:
                                  SEBI has advised Clearing Corporations to facilitate the direct credit of pay-out securities to the respective client's demat account. As a consequence, the timing of the payout of securities shall be revised from 1:30 PM to 3:30 PM.


                                  問題 #98
                                  Based on the concept of Multilateral Netting, calculate the Net Quantity obligation for Broker 'Z' given the following trades in Security ABC:
                                  1. Broker Y buys 50 shares from Broker Z @ Rs. 10.50
                                  2. Broker X buys 100 shares from Broker Z @ Rs. 10.50

                                  答案:A

                                  解題說明:
                                  For Broker Z:
                                  Trade 1: Sell 50 shares (to Y).
                                  Trade 2: Sell 100 shares (to X).
                                  Total Sell = 150 shares. Total Buy = 0 shares.
                                  Net Quantity = Buy - Sell = O - 150 = -150.
                                  A negative quantity implies an obligation to Deliver 150 shares.


                                  問題 #99
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