NISM NISM-Series-VII 試験概要:

NISM NISM-Series-VII 試験シラバストピック:

NISM Series VII - Securities Operations and Risk Management Certification 認定 NISM-Series-VII 試験問題：

1. In the context of risk management for the T+0 settlement cycle, how are securities shortages handled if a selling member fails to deliver shares?

A) By conducting an auction session on T+1 day along with the regular market auction.
B) By imposing a standard valuation debit of 20% above the closing price.
C) The trade is annulled, and the buyer is refunded the transaction amount without penalty.
D) By conducting an auction session on T+0 day at 2:30 PM.
E) Security shortages are directly closed out at 10% above the highest price of the day across all exchanges for the T+0 market.

2. In the context of the Block Mechanism for sale transactions, which of the following statements accurately describes the permissible flow of securities for **matched orders** up to the pay-in day?

A) Securities are transferred to a temporary 'Client IJnpaid Securities Account' before being moved to the Clearing Member's pool account.
B) Securities remain in the Client's demat account until the pay-out day, after which they are directly transferred to the buyer's account.
C) Securities are transferred from the Client's account to the Trading Member's (TM) Pool account, and the TM can further transfer them to any other TM's pool account.
D) Securities are debited from the Client's demat account and credited to the linked TM Pool account; the TM shall further transfer such securities only to the CM Pool account.
E) Securities are debited from the Client's demat account and credited directly to the Clearing Corporation's settlement account, bypassing the Trading Member.

3. Under the framework for 'Settlement of Account of Clients', specific provisions exist for clients who have not traded for a certain period. If a client has a credit balance but has not executed any transaction in the last 30 calendar days, how must the Trading Member (TM) handle the settlement of funds?

A) The TM must return the entire credit balance to the client on the upcoming settlement date of the monthly running account settlement cycle, irrespective of the client's preference for a quarterly cycle.
B) The TM must settle the account within 24 hours of the 30th day of inactivity.
C) The TM must retain the funds until the next quarterly settlement date chosen by the client.
D) The TM can continue to maintain the running account if the credit balance is below ? 10,000.
E) The TM is permitted to transfer the funds to the Investor Protection Fund (IPF) if the client remains inactive for more than 30 days.

4. 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?

A) By maintaining a Core Settlement Guarantee Fund (Core SGF) that is shared equally between all interoperable Clearing Corporations.
B) By maintaining sufficient collateral comprising (a) Margins as per existing Risk Management Framework and (b) Additional capital based on credit risk.
C) By netting the pay-in and pay-out obligations of the Clearing Corporations against the Investor Protection Fund.
D) By requiring the Stock Exchanges to act as the primary guarantor for any inter-CC default up to 50% of the Minimum Required Corpus.
E) By creating a reserve contract for scrips exclusively listed on one exchange to be invoked at the time of outage.

5. In the context of the Indian Money Market, which of the following instruments represents an extension of the interbank call market for uncollateralized lending and borrowing of funds for a period specifically defined as between 15 days and 1 year?

A) Cash Management Bills
B) Market Repo
C) Term Money
D) Notice Money
E) Commercial Paper

質問と回答：