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NISM NISM-Series-VII Exam Overview:

NISM NISM-Series-VII Exam Syllabus Topics:

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

1. In the context of the SEBI Complaints Redress System (SCORES), certain types of complaints are explicitly excluded from its purview Which of the following scenarios represents a complaint that is NOT dealt with through SCORES?

A) Complaint regarding non-receipt of refund in an Initial Public Offer (IPO)
B) Complaint against a company where a moratorium order is passed in insolvency proceedings
C) Complaint regarding non-receipt of dividend from a listed company
D) Complaint regarding discrepancy in the demat account holding statement
E) Complaint regarding unauthorized trading by a registered stock broker

2. Which mechanism enables the Clearing Corporation to act as a legal counterparty to all trades, thereby becoming the buyer to every seller and the seller to every buyer, to ensure settlement guarantee and manage default risks?

A) Multilateral Netting
B) Novation
C) Trade Enrichment
D) Interoperability
E) Dematerialization

3. In the context of the settlement of running accounts for funds, specific rules apply to clients who have been inactive. 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?

A) The TM is required to obtain a fresh running account authorization from the client to retain the funds further.
B) The TM must return the entire credit balance on the upcoming settlement date of the monthly running account settlement cycle, irrespective of the client's preference.
C) The TM must transfer the funds to the Investor Protection Fund (IPF) immediately after the 30th day.
D) The TM can continue to retain the funds if the client has opted for a quarterly settlement cycle.
E) The TM can adjust this credit balance against the margin obligations of other clients in the same family group.

4. Under the regulatory framework defined in Section 24 of the Companies Act, 2013, the administration of specific provisions for listed companies (or those proposed to be listed) is delegated to the Securities and Exchange Board of India (SEBI). Which of the following matters is EXCLUSIVELY administered by SEBI under this delegation, while remaining otherwise under the Central Government's administration?

A) Conduct of Annual General Meetings
B) Non-payment of dividend
C) Appointment of key managerial personnel
D) Incorporation of the company
E) Registration of the company's memorandum of association

5. Based on the 'Cyber Security and Cyber Resilience Framework (CSCRF)' for Stock Brokers, which of the following correctly match the 'Cyber Resiliency Goals' with their definitions? (Select all that apply)

A) Withstand: Restore business functions to the maximum extent subsequent to adversary attacks.
B) Anticipate: Maintain a state of informed preparedness from adversary attacks.
C) Contain: Localise containment of crisis and isolate trusted functions from untrusted ones to continue business operations.
D) Recover: Continue essential business functions at times of adversary attacks.
E) Evolve: To change business functions and its supporting cyber capabilities to minimize adverse impacts of adversary attacks.

Solutions: