NISM NISM-Series-VII

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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions:

1. 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?

A) End of Day (EOD) on T day
B) 1:30 PM on T+1 day
C) 10:30 AM on T+1 day
D) 3:30 PM on T+1 day
E) 9:00 AM on T+2 day

2. Which of the following statements accurately describe the rules and procedures for **Dividend Adjustment** in the Equity F&O segment?
(Select all that apply)

A) In case of extra-ordinary dividend, the total dividend amount is reduced from all strike prices of option contracts.
B) Adjustment for extra-ordinary dividend is carried out only on futures contracts, not options.
C) Dividends below 2% of the market value of the underlying stock are deemed ordinary dividends and no adjustment is made.
D) The revised strike prices due to extra-ordinary dividend are applicable from the record date.
E) If shareholders in the AGM change the rate declared by the Board, the market price reference changes to the closing price on the day previous to the AGM.

3. Under the regulatory framework defined in Section 24 of the Companies Act, 2013, the administration of specific provisions for listed companies (or those proposed to be listed) is delegated to the Securities and Exchange Board of India (SEBI). Which of the following matters is EXCLUSIVELY administered by SEBI under this delegation, while remaining otherwise under the Central Government's administration?

A) Conduct of Annual General Meetings
B) Registration of the company's memorandum of association
C) Appointment of key managerial personnel
D) Non-payment of dividend
E) Incorporation of the company

4. In the context of the 'Application Supported by Blocked Amount' (ASBA) facility processed by intermediaries in public issues, what is the critical pre-condition explicitly mandated by SEBI before the ASBA applications can be processed?

A) The physical form must be received by the Registrar.
B) The syndicate member must issue a physical acknowledgement slip.
C) The application monies must be blocked in the investor's bank account.
D) The General Index Register (GIR) number must be verified.
E) The application must be uploaded to the Exchange bidding platform.

5. Which mechanism enables the Clearing Corporation to act as a legal counterparty to all trades, thereby becoming the buyer to every seller and the seller to every buyer, to ensure settlement guarantee and manage default risks?

A) Trade Enrichment
B) Multilateral Netting
C) Interoperability
D) Dematerialization
E) Novation

Solutions: