NISM-Series-VII 무료 덤프문제 온라인 액세스

What is the primary benefit of 'Interoperability' among Clearing Corporations for a Clearing Member (CM)?

• A.It mandates the CM to maintain separate settlement accounts for each Exchange, thereby segregating risk.
• B.It allows the CM to execute trades on the Exchange without maintaining a Base Minimum Capital.
• C.It allows the CM to act as a Custodian for institutional clients without separate registration.
• D.It guarantees that the CM will receive interest on the cash component of the Core Settlement Guarantee Fund.
• E.It enables the CM to select a single Clearing Corporation to clear and settle trades executed on multiple stock exchanges.

Which of the following statements accurately describe the operational aspects of the Beta version of T+0 rolling settlement cycle introduced by SEBI? (Select all that apply)

• A.An auction session will be conducted on T+0 day itself for any securities shortage.
• B.Security shortages shall be directly closed out at 10% above the highest price of the day across all exchanges for T+0 market.
• C.Trading timings for the T+0 session are from 09:15 AM to 3:30 PM.
• D.There shall be no netting in pay-in and pay-out obligations between T+1 and T+0 settlement cycles.
• E.Pay-in for T+0 sell obligations is allowed only by way of early pay-in using the block mechanism.

Under the regulatory framework for 'Authorized Persons' (AP) in the securities market, which of the following compliance requirements is mandatory for their appointment?

• A.The AP is legally liable for their own acts, completely absolving the Trading Member.
• B.The AP must be a corporate body under the Companies Act, 2013.
• C.The AP must register as a separate Trading Member with the Exchange.
• D.The Trading Member must obtain specific prior approval for the AP for each segment separately.
• E.The AP must deposit a separate Base Minimum Capital (BMC) directly with the Clearing Corporation.

If the conciliation process fails and the **Market Participant** decides to pursue online arbitration, what specific financial requirement must they satisfy prior to the initiation of the online arbitration?

• A.They must pay a non-refundable arbitration fee of Rs. 25,000.
• B.They must provide a Bank Guarantee equivalent to 50% of the claim value.
• C.They must deposit 100% of the admissible claim value with the relevant Market Infrastructure Institution (MII).
• D.They must obtain an indemnity bond from the investor for the full claim amount.
• E.They must deposit 75% of the claim value with the Investor Protection Fund (IPF).

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?

• A.The pay-out timing is deferred to T+2 day at 9:00 AM.
• B.The pay-out timing remains unchanged at 1 :30 PM.
• C.The pay-out timing is synchronized with the funds pay-out at 10:30 AM.
• D.The pay-out timing is advanced from 1:30 PM to 11 AM.
• E.The pay-out timing is revised from 1:30 PM to 3:30 PM.