NISM Series VII - Securities Operations and Risk Management Certification - NISM-Series-VII Exam Questions

QUESTION NO: 1
According to the 'Default Waterfall' mechanism for the Core Settlement Guarantee Fund (Core SGF), if a member defaults, which resource is utilized immediately **after** the defaulting member's monies (and insurance) are exhausted, but **before** the Core SGF corpus is accessed?

QUESTION NO: 2
When the obligations arising out of the cash segment settlement and physical settlement of the F&O segment are settled on a net basis, how are the Securities Transaction Tax (STT) and Stamp Duty treated?

QUESTION NO: 3
When a stock broker places an order for an additional subscription of mutual fund units in physical mode through the Exchange system, which of the following data fields is mandatory to ensure the transaction is processed correctly?

QUESTION NO: 4
When a stock broker undertakes 'Video In-Person Verification' (VIPV) for client on-boarding through a digital medium, which of the following operational conditions must be strictly ensured?

QUESTION NO: 5
In the General Clearing Process for the Cash Segment under the T+1 rolling settlement cycle, by what specific time must the custodial confirmation of trades be completed on the T+1 day?

QUESTION NO: 6
In the case of a declaration of 'extra-ordinary' dividend by a company, how is the adjustment applied to the Futures contracts on that stock?

QUESTION NO: 7
Under the 'Direct Pay-out' of securities framework mandated by SEBI, to which category of clients is this facility not applicable?

QUESTION NO: 8
Under the framework of 'Interoperability among Clearing Corporations', how are the inter-Clearing Corporation exposures managed in the peer-to-peer link to ensure that a default by one Clearing Corporation does not cause financial loss to the other?

QUESTION NO: 9
Which of the following statements accurately describe the features and conditions of the 'Net Settlement of Cash segment and Futures & Options (F&O) segment upon expiry of stock derivatives'? (Select all that apply)

QUESTION NO: 10
Which of the following statements accurately describe the operational mechanisms and participants of the Indian Money Market segments? (Select all that apply)

QUESTION NO: 11
Under the SCORES 2.0 framework, if a complainant is dissatisfied with the resolution provided by the entity and requests a first review, the Designated Body (DB) may seek clarification from the entity. What is the specific timeline mandated for the Designated Body to submit the revised Action Taken Report (ATR) to the complainant after seeking such clarification?

QUESTION NO: 12
Stock Exchanges are required to jointly issue an annual calendar for the settlement of running accounts. According to the regulations, on which specific days of the month/quarter is the settlement of running accounts scheduled to take place?

QUESTION NO: 13
The 'Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme' is specified under which schedule of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019?

QUESTION NO: 14
In the process of Broker Netting with the Clearing Corporation, what is the sequence of events regarding the determination of obligations?

QUESTION NO: 15
When a Partnership Firm registered under the Indian Partnership Act, 1932 applies for admission as a member of a Stock Exchange, which specific structural requirement must be identified and maintained as per Exchange norms?