NISM NISM-Series-VII Valid Exam Question - NISM-Series-VII Valid Exam Online

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NISM NISM-Series-VII Exam Syllabus Topics:

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

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions (Q296-Q301):

NEW QUESTION # 296
Which of the following instruments is specifically defined as a rupee-denominated bond issued outside India by Indian entities to raise money in local currency from foreign investors?

A. Masala Bonds
B. American Depository Receipts (ADRs)
C. Global Depository Receipts (GDRs)
D. Foreign Currency Convertible Bonds (FCCBs)
E. Indian Depository Receipts (IDRs)

Answer: A

Explanation:
Masala Bonds are rupee-denominated bonds issued outside India by Indian entities. They are debt instruments which help to raise money in local currency from foreign investors,. FCCBs are issued in foreign currency. IDRs are for foreign companies raising funds in India. GDRs and ADRs are equity-based instruments issued by foreign depository banks,.

NEW QUESTION # 297
In the context of the settlement process, specifically regarding 'Settlement Dues', which of the following statements accurately describes the payment flow and the basis for such payments between the Clearing Agency and its members?

A. Settlement dues are legally payable only by Trading Members to the Stock Exchange, while the Clearing Agency manages only the securities settlement.
B. The Clearing Agency collects settlement dues from Clearing Banks and distributes them to Clearing Members after deducting a statutory fee.
C. Clearing members pay the Clearing Agency based on data from the Depository, while the Clearing Agency pays Custodians based on Exchange data.
D. The Clearing Agency pays all dues to clients directly, bypassing the Clearing Members and Custodians, based on the obligation report.
E. Clearing members and custodians pay the Clearing Agency whatever is due for settlement, and in turn, the Clearing Agency pays them moneys payable for every settlement, based on information provided by the Exchange or Clearing Agency.

Answer: E

Explanation:
According to the section on Settlement dues, 'The clearing members and custodians shall pay to the clearing agency whatever is due to them for settlement of their transactions / positions. In turn, the clearing agency shall pay to the clearing members and custodians moneys payable to them for every settlement for their transactions / positions. This is based on the information provided by the Exchange or Clearing Agency.'

NEW QUESTION # 298
Regarding the operational parameters for the beta version of the T+0 rolling settlement cycle, how is the price band determined and re-calibrated during the trading session?

A. It operates with a price band of +100 basis points from the price in the regular T+1 market, re-calibrated after every 50 basis points movement in the underlying T+1 market.
B. It is set at +1- 10% of the opening price of the T+0 market and remains static throughout the continuous trading session.
C. It is dynamically linked to the futures market price with a variance of 0.5%.
D. It mirrors the price band of the T+1 market exactly, including any circuit breaker halts.
E. It is fixed at +1-5% of the previous day's closing price without any intraday recalibration.

Answer: A

Explanation:
According to the source, the price in the T+0 segment will operate with a price band of +100 basis points from the price in the regular T+1 market. This band will be re-calibrated after every 50 basis points movement in the underlying T+1 market.

NEW QUESTION # 299
In the T+1 rolling settlement process for the Cash Market, how is the 'Pay-in of Funds' executed between the Clearing Member and the Clearing Corporation?

A. The Clearing Bank automatically debits the member's account based on the trade data received directly from the Stock Exchange.
B. The Clearing Member transfers funds via RTGS to the Exchange's Investor Protection Fund.
C. The Clearing Corporation pulls funds directly from the client's bank account via the UPI block mechanism.
D. The Clearing Corporation advises the Clearing Bank to debit the Clearing Member's account and credit the Clearing Corporation's account.
E. The Clearing Member issues a physical cheque to the Clearing Corporation by 11 AM.

Answer: D

Explanation:
During the pay-in of funds, the Clearing Corporation advises the Clearing Banks to debit the account of Custodians/Clearing members and credit its (Clearing Corporation's) account. The Clearing Bank executes this based on the instruction.

NEW QUESTION # 300
Regarding Indian Depository Receipts (IDRs) and the regulatory framework for their conversion or redemption into underlying equity shares, which of the following statements accurately reflects the permissible conditions?

A. The headroom for conversion is calculated based on the total paid-up capital of the issuing company rather than the specific number of IDRs issued.
B. Investors can request redemption into underlying shares at any time, but the underlying shares must be held by a domestic custodian registered with SEBI.
C. Redemption is permitted after 1 year from the date of listing, subject to available headroom calculated as originally issued IDRs minus outstanding IDRs adjusted for redemptions.
D. Redemption is permitted immediately upon listing, provided the fungibility is restricted to one-way conversion from IDRs to shares only.
E. Two-way fungibility is strictly prohibited; investors can only convert underlying shares into IDRs but cannot redeem IDRs into shares.

Answer: C

Explanation:
The regulations for IDRs state that 'Redemption/Conversion is permitted after 1 year from the date of listing of the IDRs.' Furthermore, 'Two way fungibility of IDRs is permitted... However, the number of shares that can be converted into depository receipt should be within the headroom available.' The headroom is defined as 'the number of IDRs originally issued minus the number of IDRs outstanding, which is further adjusted for IDRs redeemed into underlying equity shares.'

NEW QUESTION # 301
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NISM NISM-Series-VII Valid Exam Question - NISM-Series-VII Valid Exam Online

NISM NISM-Series-VII Exam Syllabus Topics:

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions (Q296-Q301):