NISM National Institute of Securities Markets NISM-Series-VII Braindumps

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NISM NISM-Series-VII Exam Syllabus Topics:

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

Question #1
To ensure a smooth settlement process in case of holidays, Clearing Corporations (CCs) are required to follow a specific operational sequence. Which of the following statements accurately describes this sequence regarding multiple settlements scheduled for the same day?

A. CCs shall process all pay-ins for all scheduled settlements simultaneously before initiating any pay-outs.
B. The pay-out of the subsequent settlement must be completed before the pay-in of the first settlement to ensure liquidity.
C. Settlements are aggregated into a single net obligation for the entire holiday period to avoid sequential processing.
D. CCs shall prioritize the settlement with the highest volume, regardless of the chronological order of trade dates.
E. The pay-in and pay-out of the first settlement shall be completed before the commencement of the pay-in and pay-out of the subsequent settlement(s).

Question #2
Which of the following statements accurately reflect the regulatory framework and exposure limits for Margin Trading Facility (MTF)?
(Select all that apply)

A. Exposure to any single client at any point of time shall not exceed 20% of the broker's maximum allowable exposure.
B. Stock brokers must obtain prior permission from the exchange before offering MTF.
C. Only corporate brokers with a net worth of at least Rs. 3 crore are eligible to provide MTF.
D. Stock brokers shall disclose gross exposure towards MTF to the Stock Exchanges on or before 6:00 PM on T+1 day.
E. Collateral and Funded stocks need not be marked to market daily if they are Group 1 securities.

Question #3
Under the Beta version of the T+0 rolling settlement cycle, how are securities shortages handled differently compared to the standard T+1 settlement cycle?

A. Shortages are auctioned on T+0 day at 4:00 PM.
B. Shortages are carried forward to the T+1 auction session.
C. The trade is annulled and no close out or auction is performed.
D. Security shortages are directly closed out at 10% above the highest price of the day across all exchanges for the T+0 market.
E. Shortages are settled using the Securities Lending and Borrowing (SLB) mechanism immediately.

Question #4
Regarding the facility provided by Clearing Corporations to Clearing Members for the pay-in of securities through NSDL/CDSL, which automated mechanism is available to streamline the process?

A. Delivery-out instructions generated automatically by the Clearing Corporation based on the net delivery obligations of its Clearing Members.
B. Auto-borrowing of securities from the Securities Lending and Borrowing (SLB) platform to meet shortfalls.
C. Automatic conversion of physical shares to demat shares on the pay-in date.
D. Auto-pledge of client securities directly to the Clearing Corporation without broker intervention.
E. Automatic debit of the client's bank account for the value of securities short delivered.

Question #5
Based on the Securities Contract Regulation Act (SCRA), 1956, select all the instruments that are explicitly included in the definition of 'Securities' from the list below.

A. Zero Coupon Zero Principal Instruments
B. Electronic Gold Receipts
C. Government Securities
D. Private Promissory Notes between individuals
E. Derivatives

Solutions: