NISM NISM-Series-VII Questions & Answers - in .pdf
- Vendor: NISM
- Exam Code: NISM-Series-VII
- Exam Name: NISM Series VII - Securities Operations and Risk Management Certification
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NISM Series VII - Securities Operations and Risk Management Certification Sample Questions:
1. Various intermediaries play specific roles in the securities ecosystem. Which specific group of intermediaries is described as providing 'important infrastructure services' to both the primary and secondary markets?
A) Merchant Bankers and Underwriters
B) Registrars and Transfer Agents, Custodians, and Depositories
C) Stock Brokers and Sub-brokers
D) Foreign Portfolio Investors (FPls) and Mutual Funds
E) Investment Advisors and Research Analysts
2. A financial services firm applies for registration as a Portfolio Manager. They nominate Mr. X as the Principal Officer. Mr. X holds a professional qualification in finance from a recognized university. Regarding his experience, which of the following conditions MUST he satisfy to meet the eligibility criteria?
A) Experience of at least 5 years in related activities in the securities market, including at least 2 years in portfolio management or investment advisory services or fund management.
B) Experience of at least 7 years in related activities in the securities market, with no specific requirement for portfolio management experience.
C) Experience of at least 5 years strictly as a stock broker or dealer in the equity derivatives segment.
D) Experience of at least 2 years in related activities in the securities market if he holds a CFA charter.
E) Experience of at least 3 years in related activities in the securities market, with at least 1 year in portfolio management.
3. While Equity Derivatives generally follow a T+1 settlement cycle for daily and final settlement, which specific segment has a Final Settlement cycle of T+2 basis?
A) Currency Derivatives
B) Stock Options (Physical Settlement)
C) Index Futures
D) Interest Rate Futures
E) Index Options
4. Under Section 12 of the Prevention of Money Laundering Act (PMLA), 2002, what is the mandatory retention period for documents evidencing the identity of clients and beneficial owners?
A) Five years after the business relationship between a client and the reporting entity has ended or the account has been closed, whichever is later.
B) Seven years from the date of the suspicious transaction report filing.
C) Five years from the date of the specific transaction.
D) Ten years from the date of account opening.
E) Two years from the date of the last transaction in the account.
5. In the T+1 rolling settlement cycle for institutional trades involving a Custodian, what is the specific deadline for the 'Obligation Transfer Request (OTR)' for trades where the 'INST' code was used?
A) 4:15 PM on T Day
B) 11:00 AM on T+1 Day
C) 7:30 AM on T+1 Day
D) 8:00 PM on T Day
E) 9:00 AM on T+1 Day
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: D |
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