Chp Sr No.

Questions Option 1 Option 2 Option 3 Option 4

1 Who assists Foreign Institutional Investors I Clearing and Settlement of Depository None of the
1 Clearing Members Custodian
their trades Participant above

_______ contracts are settle by physical delivery o deliverable grade Interest Rate None of the
1 2 Index Future Currency Future
securities using electronic book entry system of the depositories. Future above

_______ gives the buyer the right, but not the obligation to sell a given Both 1 & 2 None of the
1 3 quantity of the underlying asset, at a given price on or before a gven Call option Put Option options above
future date
_______ is used by issuers for raising fresh capital from the investors by Secondary None of the
1 4 making intital public offers or right issues or offer for sale of equity or Primary market OTC Market
Market above
Debt.
_______ is a market for financial assets that are close substitutes of Commodities Interest Rate None of the
1 5 Money market
money Market Futures Market above
Partially
_______ cannot be converted partially/Fully to equity shares of the Fully Convertible Non Convertible None of the
1 6 Convertible
company Debentures Debentures above
Debentures
Which of the following Entitles an investor to buy equity shares after a Commodities None of the
1 7 Put options Warrants
specified time period at a given price Futures above
Which of te following Is a market for short term funds and instruments Short term market Financial market
1 8 Money market primary market
having a maturity period of one or less than one year.
An active secondary market is not required for the growth of the
1 9 1 0
primary market and capital formation
Last Friday of the Last Thursday of Last trading day None of the
1 10 Derivatives Contract expiry on the month the expiry month of the month above
Treasury bills & Gov Sec's & Gov Sec's & Tax None of the
1 11 Government Securities are of two types namely Gov Sec's Corporate bonds Free bonds above
The primary The secondary None of the
1 12 In _____, the issuer is in direct contact with the investor OTC Market
market market above

the same as the two business days None of the

1 13 In Currency Futures, the last trading day for a futures contract is last Thursday before the expiry
expiry date above
date

the same as the two business days None of the

1 14 In Interest Rate Futures, the last trading day for a futures contract is last Thursday before the expiry
expiry date above
date
Notional 12 year Notional 10 year None of the
1 15 In Interest Rate Futures, trading is based on coupon bearing coupon bearing Treasury Bills. above
GOI security GOI security
1 16 Market type indicates Settlement no Trading Segment ISIN None

Securities market help in transfer of resources from those with idea

1 17 1 0
resources to others who have a productive need for them
4 days ina year
last Thursday of Last trading day None of the
1 18 The expiry date for the interest Rate Furture in india is specified by the
every month of every moth above
regulator
Memebers of Capital market None of the
1 19 The Registars and Transfer Agents, Custodiants and Depositories are Clearing Members Stock Exchange Intermediaries above
Commodities &
The secondary market on the other hand operates through two OTC & Derivatives OTC & Exchange None of the
1 20 Curriencies
mediums, namely _____ Market Traded Market above
Market
None of the
1 21 What is the lot size for the Interest Rate futures in India 100 1000 2000 above
Which are the two methods through which funds can be raised by the None of the
1 22 Private Placement Public Placement Both of the above
company above

1 23 which Deriative contracts are settled in cash Index Future Stock future index Options All of the above

In OTC, securities OTCEI is the OTC Markets have

are traded and None of the
1 24 Which is not about OTC markets ? recognised OTC huge trading
settled bilaterally market in india volumes above
over the counter

Issue made to
Issue made to all Issue made to those investors
Which of the following terms best describes the term Private None of the
1 25 investors in select group of who already hold
Placements above
Securities market people shares of the
company

_____ are commercial loans availed from any internationally recognised None of the
2 26 source such as bank,export credit agencies, foreign equity holders and ECB ADR GDR above
international capital market
Qualified Foreign
_____ comprises of peoples who invest above rupees two lakhs in a High Networth None of the
2 27 Institutional institutional
single transation. Individuals (HNI) above
Buyers (QIB) Investors (FII)
_____ are bonds issued by Indian Companies and subscribed to by a None of the
2 28 non-resident in foreign currency ADR GDR FCCB above
 5 years from the 10 years from the 10 yearscessation
from the
date of start of the date of start of date ofof the
transactions the transactions
How long should be the the records of suspicious transactions (as transactions None of the
2 29 between the between the
defined by PMLA 2002) be maintained by the finanacial institution? between the above
clients and clients and clients and
financial financial financial
institutions institutions institutions

Clearing
corporation acts stock exchange
Stock brokers as a counterparty rank the orders None of the
2 30 Novation is the process though which __________ route their client and guarantees based on price- above
orders settlement to time priority
both the buyer
and seller

Recognition of
Listing of
Securities Contracts (Regulation) Act, 1956 has regualtory jurisidiction securities on stock the securitiesin
intermediaries Investors None of the
2 31 over Protection above
exchanges market
5% of the gross 10% of the gross 8% of the gross None of the
2 32 The base minimum capital should be less than ______ in the exchange outstanding outstanding outstanding above
business business business

The experience of being an apprentice to a member is not recognised

2 33 1 0
for an individual while applying for individual trading membership

2 34 The Maximum prison term for the offence under PMLA 2002 is 3 years 5 years 7 years 2 years

Corporate and None of the

2 35 Trading member can be ????? Sole Proprietors A&B
Banks above
Under ______ of PMLA 2002, offences include counterfeiting currency
2 36 Part A Part B Part C Part D
notes under the indian Penal code (IPC)
Under Part B of PMLA 2002, offences are considered as money Rs. 25 lakh or Rs. 30 lakh or Rs. 15 lakh or
2 37 laundering if the total value of such offences is _______ more more Rs. 5 lakh or more more
Standard
2 38 Which company was the first to raise equity through IDR UCO Bank UBS Barclays
Chartered
 They are
They are
FCCB's are bonds subscribed convertible into a FCCB's are non-
to by
2 39 Which is not True about FCCB's issued by indian a non-resident certain number of interest bearing
in
Companies ordinary shares at instruments
foreign currency a preferred price

Intended Merger & De-

2 40 Which of the following is a price sensitive information? declaration of quaterly results all of the above
merger news
dividends

Which of the following options are available in case freezing of demat Freeze for Debits Freeze for credits Freeze for debits
2 41 Both A & C
accounts? only only as well as credits

Which part under PMLA 2002 deals with money laundering offences
2 42 Part A Part B Part C Part D
with cross border implications?
Which policy seperates the insider areas from public areas inside a None of the
2 43 Closed Wall Chinese Wall Black Box
broking company? above
Which section of PMLA deals with the appeal against the order or
2 44 Section 25 Section 42 Section 17 A&B
decision of the appellate tribunal?
Which section of PMLA deals with the appointment of appellate
2 45 Section 25 Section 26 Section 17 A&B
tribunal and procedure to file an appeal?
Which section of PMLA makes the accussed responsible for proving
2 46 Section 15 Section 24 Section 17 B&C
that the proceeds of the alleged crime are un-tainted

Which section of PMLA stipulates every financial institution to maintain None of the
2 47 a record of all cash transactions of 10 lakhs or more in foreign currency? Section 9 Section 12 Section 6 above

Which section of PMLA gives the power to the govt to own the None of the
2 48 Section 9 Section 3 Section 6
properties confiscated by adjudicating authorities above

All series of cash

All cash transactions
transactions of the integrally
Which type of transactions has to be reported by the financial value of more than None of the
2 49 connected to Both of the above
institutions as per PMLA 2002? Rs 10 lakh or its above
each other which
equivalent in have been valued
foreign currency below Rs 10 lakh
 Which financial institutions or corporate bodies issue bonds,
2 50 debentures and commercial paper, government securities and treasury 0 1
bills are issued by governments

_______ electronically captures and processes institutional transactions None of the

3 51 SIP STP SWP
in one pass, from the point of first deal to final setlement above

_______ provides the financial guarantee for all transactions executed Clearing
3 52 SEBI RBI Stock Exchange
on the exchange corporation
_______ is the risk of monetary loss resulting from inadequate or failed None of the
3 53 Market Risk Operational Risk Regulatory Risk
internal processes, people and systems or external events above
_______ is where the trader purchases or sells their security at the best None of the
3 54 Market Price Limit Price Stoop Loss price
market price available above

Risk Management Order matching

3 55 _______ is/are front office functions in a Share broking office Placing of Order and routing of and its conversion Only a & c
order into trade

_______ occurs when the rules governing the securities industry are None of the
3 56 Market Risk Operational Risk Regulatory Risk
changed, giving rise to potential loss above

In english or any
language
contained in the
VIII form other
than that must be Only in English In any languageat English or Marathi
3 57 Account holder can sign in an account opening form attested by a (marks-0.25) his wish
Magistrate or
Notary Public or a
Special Executive
Magistrate

All necessary details for the clearing of futures and option contracts or Information
3 58 Trade Approval Trade enrichment Trade settlement
the settlement of cash Securities are added by ______________ Addition

Documents register showing full particulars of shares and securities

3 59 received and delivered,has to be maintained and preserved for a 2 years 3 years 5 years 7 years
minimum period of______ years.

3 60 In India,the Pay-in of securities and funds happens on__________ T+1 by 11 AM T+2 by 11.30 AM T+2 by 10.30 AM T+1 by 11.30 AM

In normal Settlement,Close out of re-bad delivery happens

3 61 on__________ T+9 T+4 T+5 T+8
 In normal Sttlement, Re-bad delivery reporting and pickup happens
3 62 on__________ T+3 T+4 T+5 T+8

In Spite of running authority letter given by the cutomer,the broker Once every None of the
3 63 Once every year Once every week
should settle quarter above
If more than one order is available at the same price then they are
3 64 Descending price Descending Ascending time Ascending Price
arranged in ____________ order.

Electronic Electronic None of the

3 65 ECN stands for ________ Easy capital Note Contract Note clearing & Netting above

The___________means the trade must be done during the opening Market on open Market on close None of the
3 66 Open order
range of trading prices order order above
The stock broker has to maintain a mapping of the client IDs used at the
3 67 time of order entry in the system, with all the particulars given in the 3 Years 5 Years 7 Years 2 Years
KYC form for a minimum period of__________
Latest Bank Cancelled Cheque Any of the above
3 68 What should be provided by the client as a proof of bank account? statement Both a & b
leaf
/passbook

Which of the following can be given as Address proof for KYC Latest Demat Latest Telephone Both of the None of the
3 69 Procedure? Account statement Bill above above

Ordering
Which of the following is not a business function of a stock broking PortfolioManage Auditing System Disaster Recovery
3 70 Management
office? ment system
system
Which of the following is not a part of custodian information of a
3 71 location of custody type of custody security type All of the above
security master file?

The contract note In the case of

should be gigitally elec-tonic Contract notes
signed,encrypted, contract note should be issued Only Electronic
non-tamperable, (ECN),log of with the client contractnotes
3 72 Which of the following is not true about contract notes and in accordance sending ECN to name and clients should be issued
with the clients email id code written on if the client has
information an email id
should be them
Technology Act maintained
2000
 The market on
close order is done
at volume Trade on market The market on The market on
on close order
weighted average close order is close order is
takes place in a
3 73 Which of the following is not true about market on close order? price of the done with done between
separate session
security in the last called?Post minutes of the 3.00 pm to 3.30
half an hour of the closing session ? market closing pm
trade before the
market close.

None of the
3 74 Who signs 'surrendered for demat' in the share certificates for Demat? NSDL (mark-0.25) Dp ISSUER/RST Agent above
settlement clearing,funds & settlement,order
3 75 Trade ends with the __________ of the _________ clearing,obligation obligation securities placed

Order matching
Which of the following steps of a trade's life cycle is a middle office and its conversion Risk Management Affirmation and
3 76 Routing of order
function at a broking firm ? confirmation
into trade

3 77 Best buy price is the _____ amingst all orders highest sell price lowest sell price highest buy price highest sell price

FIIS tarding in the Indian Securities market use the services of a Registrar &
3 78 __________ to assist them in the clearing and the settlement of custodian PCM Transfer Agent All of the above
executed trades. (RTA)
A mutual fund manager gives the purchase or sale order of any
3 79 security without having any specific fund in mind for allocating those True 0
securities for which order has been given .

allocation details
of the securities institutional client
Confirmation of Confirmation of traded to the
Broker issues contract notes for the trades of a mutual fund manager code from the
3 80 trades from trades from the respective
only when he receives the- mutual fund
cutodian fund manager funds /scheme manager
from fund
manager
 Contract notes Contract notes Electronic
Contract notes with weighted should be serially contract notes
should be signed average rates of
Which of the following statement with respect to the cintract notes ,is by stock broker or trade should starting from the only if the issued
numbered should be
3 81 client
not true? by an authorized contain an beginning of the has pre
signatory of the annexure with
the details there accounting year authorized the
stock broker of the broker stock broker
on

declare the start

applies
For determining obligations of the clearing members /cutodians the Starts settlement applies member of clearing and
3 82 multilateral
clearing corporation process -wise netting settlement
netting process
None of the
3 83 For stop loss sell order,trigger price should not be ________limit price lower than greater than equal to above
Apart from unique order number what else is given to the broker as
3 84 Order Details Time stamp Order Conditions All of the above
order confirmation
Ratings based on
Which they adhere against which a these standards
3 85 Every broker has a set of standards: client is must be reported all of the above
to measured to the
management

Second database
stores
Computer system instructions to Computer system
has a network
is coupled to a first configure the interface over
database that system to receive which messages
Which of the following is not true regarding the computer system stores data from order None of the
3 86 can be
having a network interface for trade allocation? associating management above
exchanged with
portfolios with systems an order
different risk messages
classes describing trades management
of financial system
instruments.

participant code
financial
Order management system messages for trade allocation purpose in case of risk class
3 87 instrument size of the trade
does not include institutional identifier
identifier deals
 Trade is allocated among portfolios based on a portfolio size
3 88 _____________associated with each portfolio statement target ratio risk class all of the above

Buying obligation
determining
delivery vs settlement &
3 89 What are the two phases of the settlement activity? obligation & Pay -in &Pay out selling
payment obligation
setting obligation settlement

T+2 by 12.00
3 90 Pay out of securities and funds happen on - T+2 by 12.30 pm T+2 by 2.30 pm T+2 by 1.30 pm
noon
SEBI (Stock
Stock brokers are required to maintain books of account as prescribed Securities Contract brokers and Sub- Requirement of
3 91 by the (Regulation)Rules brokers) exchanges All of the Above
Regulations

Seprate ledgers,reflecting the cutomers transactions including

customer-wise record of money received and paid securities received reverse
Chronological
3 92 and delivered specifically transactions made inconsolidated cutomers Chronological asending orders desending orders
order
account and the customer account information shall be maintained in order
the

Automatic Automatic link of

Automatic entry of On-line trading
3 93 Which of the following is not a trade function of a stock broking office identification of executionof
daily executions system new customers orders
What is the time limit specified for the mutual fund manager to allocate before the end of before the start Before the end of After issuance of
3 94 the purchased securities to the respective funds/schemes and send the trading session of next day's contract note by
the day
details to the broker? trading session the broker
which of the following feature is not attrituted to the Electronic Acknowledged by
3 95 Digitally Signed Encrypted Non-tamperable
Contracts Notes issued by the broker? the client
A contract note without consideration is null and void under the Securities Securities and
Indian Contracts Indian Evidence
3 96 ______ and hence all contracts should mention the consideration Acts Contracts Act Exchange Board
seperately. (Regulation) Act of India Act

International
Practice of carrying out pay-out of funds and securities by the Clearing Settlement in Fair Delivery versus Organsiation of
Natural law of
3 97 Corporation once the pay-in of funds and securities has been carried and Equitable Securities
Justice payment
out is in accordance with principle of manner Commissions
(IOSCO)

To call on clients communicating getting new

Which of the following job responsibilty is not handled by sales team of to suggest trading client orders to None of the
3 98 clients to the
a brokerage firm? ideas and take the approprate above
brokerage firm
orders trading desks
 In person Details of a vaild
Proof of address Photocopy of the verification is also bank account
should be either along with a
PAN card with required to be
Which of the following formalities to be adhered to at the time of original and cancelled cheque
3 99 original or self made either by
account opening along with the KYC form, is not true? photocopies or leaf with a copy
attested the broker or by
self attested of the latest bank
photocopies the authorised
photocopies A/C statement
person. /pass book

If the client does

For Smooth not wish to issue To settle the If client has
functioning, in delivery account at mapped multiple
case the client instruction slip periodic interval
100 For what purpose SEBI has approved brokers to collect authority letter if client does not bank a/c with one
3 does not wish to for every order in
from the client? trading a/c and
give Power of case if he has wish to exchange uses all bank a/c
Attorney in favour demat account cheques for dialy for payment.
of the broker. with the DP other transactions.
than the broker

101 Each stock broker is required to send a statement of account for both
4 Every Month Every Quarter Every Year Every Week
funds and securities once in ______
_____ for any security is higher of 5%, or 1.5 times the standard The Extreme Loss Maintenance
4 102 deviation of daily logirithmic returns of the security price in the last six SPAN margin Initial Margin Margin Margin
months.
Mark to Market
4 103 _____ is popularly refered as second line of defence Exposure margin Initial Margin SPAN margin
Margin

104 _____ requirement is based on 99% value at Risk over one day time Extreme Loss
4 Initial Margin MTM Margin All of the Above
horizon Margin

105 An absolute minimum of _____ as a deposit with the exchnage shall be None of the
4 Rs. 2.5 lakh Rs. 1.5 lakh Rs. 3.5 lakh
maintained by member brokers of the Delhi and Ahmedabad Exchange above

within 6 months
at the end of the from the end of None of the
4 106 Annual returns has to be submitted by the broker to the exchange by No time limit accounting year the accounting above
year

As per the SEBI (Stock brokers and Sub-Brokers)Regulations, an absolute

minimum of _______ as a deposit with the Exchange shall be
4 107 maintained by the member brokers of the Bombay & Calcutta stock Rs. 50 Lakh Rs. 10 Lakh Rs. 15 Lakh Rs. 5 Lakh
exchange
 MTM Margin is the margin levied by the exchange in both equities and
4 108 Derivatives segment 1 0

Closing price of Closing price of Closing price of Theoritical price

109 MTM on the un-expired illiquid futures contracts is calculated by using the futures the futures
4 contracts on the the underling on of the futures
the _____ contracts on the the Trading day contract
previous day Trading day

110 Member contract books of a stock broker has to be maintained for the
4 2 years 3 years 5 years 7 years
period of _____ years as required by SC( R )R

111 Initial margin is calculated on portfolio basis and not on individual script
4 TRUE 0
basis

112 For the securities list of Group III the VaR margin is equal to five times
4 TRUE 0
the index VaR and scaled up by root 3

113 For Group I securities, the script wise daily VaR is _______ the volatility None of the
4 3.5 times, 7.5% 3 times, 5% 5 times, 7.5%
subject to a miminum of ______ above
Rule 15 of the SC( R ) R states that every member of recognised stock
4 114 exchange should maintain and preserve the fllowing books of accounts 3 years 5 years 2 years 7 years
and documents for the period of ____ Years
On the futures
On the equities On government None of the
4 115 SPAN method for calculating margin requirement is for trades done- and options
segment securities above
segment
Extreme Loss Brokers capital
Daily Margins & None of the
4 116 The Components of credit risk management are ? Margin & VaR Adequacy & Daily
VaR margins above
margins Margins

117 Extreme Loss Margin is collected on the basis of net open positions of
4 TRUE 0
the stock broker
Daily margin,
MTM margin & Daily margin & initial & MTM None of the
4 118 The margins leived by the exchange for the derivatives segment are Extreme loss MTM margin margin above
margin

Higher of 1 lakh Lesser of 1 lakh

4 119 The penalty for delay in furnishing information by a broker is ____ 1 Crore per day per 1 Crore
day or 1 Crore per day or 1 Crore

Option premium Option premium

Initial Margin & None of the
4 120 What are the amrgins applicable if you write an call option MTM margin Margin & MTM Margin & Exteme above
margin Loss margin
 this is determined
Exposure margins at the beginning
is based on a This is charged
this is also called over and above of every month
4 121 Which of the following is not true about Exposure margins? single percentage
on the value of the as initial margin the initial margin for the following
month by the
scrip exchange

Extreme Loss
margins for any The Extreme Loss
security is higher Margin is The Extreme Loss
of 5% or 1.5 times This computation collected/adjuste Margin is
the standard is done at the
4 122 Which of the following is not true about Extreme Loss margins? d against the total collected on gross
deviation of daily start of each liquid assets of open positions of
logarithmic month the member on a the stock broker
returns of the
security price in real time basis
the last six months

The rates are

Initial margin
calulation is done The margin is thefutures
system treats computed at 5
and intervals one at
using SPAN, a leived at trade options contracts the beginning of
4 123 Which of the following is not true about SPAN? product developed level on real-time differently for the day 3 during
by Chicago basis calculation of market hours and
Mercantile margins one at the end of
Exchange the day.

In futures and options segment, the positions are allowed based on the
4 124 margin available to satisfy _____ requirements of the Exchange. Total Margin Additional margin VaR Margin initial Margin

125 Security deposit kept by the members in the exchanges shall form part base minimum
4 Additional margin initial Margin networth
of the Capital

126 Exchanges are free to stipulate higher base capital in excess of the
4 TRUE 0
minimum statutory requirements
base capital Exposure networth margin
127 Deposit kept at the exchange as a part of the membership requirement
4 requirement of requirement of requirement of requirement of
may be used towards the the member the member the member the member
MTM
The purpose of marginrequireme taking additional
4 128 Additional Capital may be provided by the member for All of the above
initial margin exposure
nt
 Cash transactions
Account Payee in exceptional
129 Which of the following is not the mode of payment to and from client's Direct Credit thru circumstances None of the
4 cheques or
account? ETF above
Demand Drafts with the
prescribed limits

Payout of funds and securities to the clients shall be made ______ of within two within one within 3 hours on
4 130 pay-out by the exchanges. on the same day working days working day from the day
from the day the day
one consolidated separate account None of the
4 131 Constituents' Beneficiary Accounts should be account for all for each client Both of the above above
clients
Which of the following margins are not leived in futures and options Extreme Loss None of the
4 132 segment by the exchanges? Initial Margin MTM margin
margin above

133 Which of the following margins are not leived in equities segment by Extreme Loss
4 Daily margin MTM Margin Initial Margin
the exchanges? margin
Value at Risk
4 134 Daily margin is calculated based on Securities Beta MTM Margin Initial Margin
(VaR)

SPAN margin
PRISM (parallel SPAN (Standard PRISM (parallel (Standard
Risk mgmt
135 Initial margin is calculated is done using ______ a product developed by system), Portfolio Analysis Risk mgmt Portfolio Analysis
4 Chicago
_______ of Risk), Chicago system), Chicago of Risk), Chicago
Mercentile Board of Trade Board of Trade Mercentile
Exchange Exchange

trade level on real- open positions on client level on None of the

4 136 Initial Margin is levied at time basis real-time basis open psositions above

Rates to calculate initial margins are computed at _____ intervals, four, one , two, three, one, one, five, one, three, seven, one, five,
4 137 _____ at the beginning of the day, ______ during market hours and one one one one
____ at the end of the day
 System System System recognises
recognises the recognises the the unique
The system treats unique exposures unique exposures exposures
138 Which of the following is not true about the SPAN systems handling of futures and associated with associated with associated
4 with
F&O contracts options contracts options portfolios
uniformly like extreme deep options portfolios options portfolios
in-the money like short like inter month
positions expiry options
positions

over a period
139 in the case of futures contracts, the initial margin may be computed on over a one-day on trade to trade over a two-day
4 remainded for
the basis of 99% VaR- time horizon basis time horizon
contract expiry

amount of total amount of total

number of number of
options options premium amount
4 140 In case of option purchase the margin leived will be equivalent to the Premium amount multiplied by the multiplied by the for 3 days time
highest premium lowest premium horizon
traded on the day traded on the day
of purchasing of purchasing

the time option is time premium

time option time option is
4 141 In case of option purchase the margin will be leived exercised or settlement is
expires squared-off
expired worthless complete

The end result of the SPAN computation methodology is that the Average of total maximum margin
4 142 ________ on the portfolio will more accurately reflect the inherent risk initial margin minimum margin
margin result
involved with those position as a whole.

Gross open
position signifies Three types of
the gross of all
Margin is required net positions Itthe is important for margins are
stock broker applicable for
which of the following statement is true about the margining system of to be paid on the across all the at any time to option writing-
4 143 option contracts? gross open clients of a know the postion initial margin,
position of the member, on net basis for extreme loss
clients including the all clients margin and mark
proprietary to market margin
postion of the
members
 Initial margin and the MTM margin requirement are based on _______ minimum loss maximum loss a worst case
4 144 calculated by valuing the portfolio under several scenarios of changes in least possible loss
occurred occurred scenario
market conditions over a trading day.

145 under the SPAN methodology of margin computation ______ are 16 posssibe 14 posssibe 6 posssibe 12 posssibe
4 considered and thereafter the margin requirements are specified scenarios scenarios scenarios scenarios
For the purpose of MTM margin collection, position of the client is
4 146 _____ across its various securities and the positions of all the clients of netted, netted netted, grossed grossed, grossed grossed, netted
a member are ______

Neither netting off of the position and set-off against MTM profits two
4 147 rolling settlements is permitted nor netting off or set-off against MTM TRUE 0
profit is permitted for computaion of MTM profits/losses for the day.

For the securities list of Group I, script wise daily volatility calculated daily margin daily MTM
4 148 using the exponentially weighted moving average methodology is daily MTM loss daily returns
requirements profit/loss
applied to

149 VaR margin is collected on ______ by adjusting against the total liquid the next trading right after the daily settlement
4 assets of the member day trade is executed an upfront basis basis

150 what is the time limit exchange has prescribed for system audit report By 31st By 31st March By 31st April
4 By 31st July yearly December
to be submitted by the brokers? yearly yearly yearly

151 large deals between institutions are normally done through market
5 TRUE 0
trades
the DI slip should contain the settlement number for which the
5 152 securities are being transfered to the clearing member account TRUE 0

153 Transfer due to transaction done on a person to person basis is called

5 TRUE 0
off market transactions.

154 what kind of accounts is used to receive shares from selling clients and
5 Delivery Pool Receipt Common
to send shares to buy-ing clients?
Union Bank of None of the
5 155 The Bank of india Share Holding ltd (BOISL) is not a subsidary of- BSE Bank of India India above
It's the _____ functions to make sure that the funds are available in the Clearing member Trading member
5 156 member's account with clearing bank on the day of pay-in to meet the Clearing banks Custodians
's 's
obligations
 He clears and
settles trades
executed by other
member is entitled trading members
to execute trades He clears and who choose to
Which of the following is not true abt Trading and Clearing membership on his own settles trades None of the
5 157 in currency derivatives segment? use clearing
account as well as executed by above
services of the
on account of his himself member
client inCurrency
Derivatives
segment

158 Which account is used to receive shares from selling clients and to send Distribution
5 Delivery Account Receipt account pool account
shares to buying clients? Account

159 Which account is used to Transfer shares from pool account to clearing Distribution
5 Delivery Account Receipt account pool account
agency's account? Account

transfer due to a
Transfer arising Transfer arising
transaction done Transfer arising out of
160 Transfer of securities from one account to another may not be done for on a person to out of
5 out of transmission
the purpose of- person basis is transmission and done
nomination on a stock
called 'off market account closure exchange.
transaction'

Exchange of money for the off-market transactions are handled outside clearing bank clearing agency's depository clearing members
5 161 the ______ environment environment system network

5 162 A market trade is one that is settled through participation of a Depository Clearing Bank Stock Exchange Clearing Agency

Cross netting of Grossing the netting the

multilaternal
5 163 In the stock exchange process of clearing is done by _______. members members net members gross
netting
positions positions positions
Counterparty to
5 164 Clearing and settlement process cannot be classified into Matching Cash settlement Delivery
the trade

5 165 Cash settlement refers to settlement of Premiums Fees mark to market All of the above

Clearing agency enables to clearing members to replace the counter

5 166 party risk between different market participants? Even for instruments TRUE 0
traded outside the exchange.
 In case of the pay-in of securities, Clearing Corporation advises Withdraw from, deposit in,
5 167 depository to _____ pool account of custodians/Clearing members and credit, debit Debit, credit
deposit in withdraw from
____ its (Clearing Corporations's account.
In case of the pay-in of securities, Clearing Corporation advises
5 168 depository to credit _____ of custodians/Clearing members and debit Delivery account pool account clearing accounts receipt accounts
its (Clearing Corporations's) account.

169 Depository informs custodians /Clearing members about pay-in & pay-
5 TRUE 0
out of securities.

170 What is the time line followed for trade confirmation to broker in case
5 T+1 evening T evening T+1 morning T+1 by 12.30 PM
of custodian settled trade for institutional clients?

On T+1 evening
payment of
171 What is the time line followed for credit of shares/funds to client margins or early None of the
5 T+2 T+3
account in case of custodian settled trade for institutional clients? pay-in of above
securities and/or
funds

working out
working out open working out
segment & None of the
5 172 Clearing mechanism for derivatives products does not involve- positions of the instrument-wise obligations of above
clearing members trade details clearing members

173 What is considered for clearing members eposure and daily margin All the below
5 Obligations Trade details Open positions
purposes ? mentioned

all the TM's all the TM's all custodial

174 Open positions of clearing members are arrived at by not aggregating proprietary open Client's open participants open None of the
5 the open positions of- positions clearing positions clearing positions clearing above
through them through them through them

175 Settlement amount for a clearing member is ______ all their

5 Grossed for deposited for netted across aggregated for
TM's/Clients with respect to their obligations on MTM settlement.
Clearing agency None of the
6 176 During pay-in of securities, the securities can be transferred to ______ account Broker account any of the above above
ABC company trades at Rs 1000, 2:1 stock split is anounced. ABC also
6 177 trades in derivatives with lot size of 250 what will be the new lot size of 500 25 1250 2500
ABC after corporate adjsutment?
ABC company trades at Rs 1250, 3:1 stock bonus is anounced. ABC also
6 178 trades in derivatives with lot size of 200 what will be the new lot size of 400 60 600 800
ABC after corporate adjsutment?

179 Periodic settlement of running account may not be necessary for clients
6 TRUE 0
availing margin trading facility
 Strike price adjustment will be made for securities if the company Extraordinary None of the
6 180 declares ______. dividend Ordinary dividend Both of the above above
None of the
6 181 The purchased securities wil be credited in _____ Broker account Client account any of the above above
Fractional All the
182 What will happen if split or consolidation ratio adjustment in Nothing can be None of the
6 settlement can be adjustments will
derivatives results in fractions for market lot/srtike price? done above
done be reversed
None of the
6 183 Which of the following is/are stock benefits declared by the issuer? Rights Amalgamation a&b above

184 Exchange have moved to a faster and efficient mode of settlling trades
6 take 3 days take 5 days take a week take 11 days
within T+2 Days from settlement cycle that used to-
last available last available highest price of
6 185 Daily settlement price for un-expired illiquid future contracts will be- theoritical price
closing price trade price the life cycle.

186 What formula will be used to compute theoretical price for un-expired
6 F=S*ert F=S*e^-rt F=S*e^1/rt F=S*e^rt
illiquid futures contract?

Highest price of Closing price of

the futures Highest price of Clsoing price of
the futures cotract
187 What will be the interim exercise settlement price for Option Contracts cotract on the underlying the underlying
6 on underlying
on Individual Securities. underlying security on the security on the
security on the security on the exercise day exercise day
excerise day. excerise day.

188 Members can download the settlement reports on _______ of the

6 the next day second day the day third day
Settlement end date.
Clearing Bank debits the settlement account of the members within
6 189 _______ on the last date of settlement period. 10.30 AM 10.00 AM 11.30 AM 11.00 AM

190 Unless otherwise specifically agreed to by a client, the settlement of

6 with-in 12 hours on next day with-in 24 hours with-in 2 days
funds/securities shall be done ______ of the payout.
any authorised any holder of
6 191 The authorisation for running account shall be signed by the Client only person on his All of the above
poer of Attorney
behalf
For how many days the stock broker may retain the funds for clients,
6 192 expected to be required to meet margin obligations, calculated in the 3 days 5 days 2 days 7 days
exchange specified manner?

directions issued business practice preference to the directions issued

193 Actual settlement of funds and securities shall be done by the broker,
6 by the clearing
atleast once in a calendar quarter or month, depending on the- by the exchange followed by him client agency
If there is any dispue arising from the statement of account, client shall within 3 working within 5 working within 15 working within 7 working
6 194 bring the same to the notice of the broker preferably ______ from the days days days days
date of receipt of funds/securities or statements.
 funds recived
from client
towards
clients availing collaterals/margin none of the
6 195 Periodic settlement of running account may not be necessary for margin trading s in the form of Both of the above above
facility bank
guarantee(BG)/
Fixed deposit
receipts (FDR)

Within how many days of the request, the stock broker shall transfer
6 196 the funds/securities lying in the credit of the client if the same are lying 5 working days 1 working days 2 working days 3 working days
with him?

197 inter client adjustments for the purpose of settlement of the running
6 TRUE 0
account is not allowed

198 Conditions specified for 'running account' shall apply to each and every
6 TRUE 0
class of investors/clients without any discretion.

199 Which of the following margin is not payable upfront by Clearing Extreme Loss None of the
6 initial Margin Exposure Margin
Members? Margin above

Collateral limits once set are applicable to the trading particular

6 200 member/custodian participants until modification until cancellation settlement period for the day

only in the also in physical Both of the above None of the

6 201 SEBI has specified for settlement _______ for most scrips. dematerialized form above
form
in case of sale of securities, immediately on receipt of intimation of transfer Standing
6 202 trade execution from broker, the seller should issue _____ to the DP Credit instructions Debit instructions
instructions instructions
with whom he maintains his demat account.
in case of sale of securities, can be first transferred only to the brokers
6 203 clearing account and afterwards to the clearing corporaton/clearing TRUE 0
house.
in case of sale of securities, can be transferred either directly to the the clearing
6 204 Clearing Corporation/ Clearing House or the broker's clearing account the Client the DP the broker
agency
as advised by

205 Standing instruction can be given any time of opening of account or

6 TRUE 0
later
transferring receiving
delivery security
6 206 A client can give one-time standing instruction to his DP for- security to/from securities in his All of the above
from his account
his account account
6 207 A ____ of securities can give one time standing instruction to his DP Seller purchaser trader Dealer

consolidated transaction based aggregated credit

208 As an alternate to the standing instruction, the client may choose to separate receipt
6 delivery
issue ______ to his DP every time he makes any purchase of securites instruction debit instruction instruction
instruction

Securities which Clearing member

the client has ma give request
the broker will
purchased will be subsequently to the Clearing
first delivered in Corporation/clear
209 Which of the following statement regarding transfer of purchased transfer the None of the
6 his brokers demat ing house to
security is not true? securities in above
account by the deliver the
client's demat
Clearing securities directly
account
Corporation/Cleari in the client
ng house. account.

6 210 Securities pay-out process is usually completed by- 3.30 pm 2.30 pm 4.00 pm 3.00pm

6 211 Securities pay-in takes place through both Depositories consecutively TRUE 0

Clearing & None of the

6 212 ______ also involved adjustment for corporate actions Clearing Settlement
Settlement above
shall either shall either
shall exacly reamin remain the same remain the same shall continue to
213 Adjsutments for corporate actions should be in the manner that the
6 or remain above or remain below remain the same
value of the market participants position, on the cum & ex-dates the same the original the original as far as possible
position position

retaining the
addressing the adjustment to be relative status of
issues related to carried out on al positions viz. in None of the
6 214 Appropriate adjsutment for Corporate actions will not facilitate in- excerise and open long the money, at the above
assignment positions money, out of the
money

215 Which of the following is not one of the various stock benefits declared None of the
6 Splits consollidations Hive-off
by the issuer of capital? above

Which of the following is one of the various stock benefits declared by Secured Premium
6 216 the issuer of capital? Warrants Amalgamation notes (SPN) All of the above

217 Which of the following is /are cash benefits declared by the issuer of Merger/De-
6 Dividend Hive-off All of the above
capital?. merger
 Adjustments may
Adjustments may entail Adjustments may Adjustments may
entail modifications to entail entail
modifications to position and/or modifications to modifications to
strike price, contract either strike all the strike
218 Which of the following statement regarding adjsutment of the position and specifications price, position price, position
6 corporate is not true? market based on the and market and market
lot/multiplier, nature of the lot/multiplier, lot/multiplier,
based on the corporate based on the based on the
nature of the actionon all nature of the nature of the
corporte action. traded positions corporte action. corporte action.
for the day.

219 If the bonus has been declared in an security in the ratio of A:B the
6 A/B+B (A/B)+B (A+B)/B A+B/B
adjustment factor for the same will be-

220 Adjustment factor of A/B will not apply to which of the following None of the
6 Bonus Splits consolidations
corporate action declared in the ratio of A:B? above

The new market The new position

The new strike lot/ multiplier shall be arrived at Adjustment factor
price shall be shall be arrived at by
221 which of the following is not true about the methodology followed for arrived at by multiplying the will be the same
6 by multiplying the old
corporate adjustment in derivatives? dividing the old position by for both bonus &
old market lot by the adjustment
strike price by the splits
the adjustment
adjsutment factor factor factor.

compute value of
Compute value of Carry out the position
while carrying out corporate action adjustment, which of the following Compute value of the position rounding off the based on the
6 222 method is falsified, used with a purpose to minimize fraction the position taking into strike revised strike
settlements? before adjustment account the exact price,positions & price and market
adjustment factor Market lot lot
 GCT/GTD orders
After the Un-expired of Futures &
announcement of contracts options contracts
the record date, outstanding as on on the
no fresh contracts the last cum-date underlying,
on futures and
223 Which of the following statement is not true regarding the adjustment will be outstanding at None of the
6 options would be
measures in case of mergers? compulsorily the close of the above
introduced on the settled at the business on the
underlying that closing price of last cum-date
will cease to exist the contract on would be
subsequent to the the last cum date. cancelled by the
mergers. exchange

Adjustment factor Adjustment Adjustment factor

Adjustment
(P-E)/E to be factor (P-E)/P to (P-E)/P to be
divided by old be divided by old factor (E-P)/E to multiplied by old
strike price & strike price & be multiplied by strike price &
224 Which of the following statement is not true regarding the adjustment old strike price & multiplied into
6 multiplied into multiplied into
measures in case of righs issue? divided into odd odd lot size to
odd lot size to odd lot size to lot size to arrive
arrive at the new arrive at the new at the new strike arrive at the new
strike price and lot strike price and strike price and
price and lot size
size lot size lot size

a short seller fails a seller fails to a seller delivers None of the

6 225 Default by the broker, which results into auction, does not occurs when- to square up the deliver shares on bad/wrong shares above
position time

In case the arbitral/appellate arbrital award is in favour of the client,

226 the stock exchange shall, on receipt of the same, debit the amount of
7 TRUE 0
the award from the security deposit of the member (against whom an
award has been passed) and keep it in a escrow account.

227 An appeal before the appellate panel of abritrators may be filed within
7 TRUE 0
6 months from the date of receipt of arbitral award.
Above Rs 25 None of the
7 228 Arbitration for claims _______ is decided by a sole arbitrator Above Rs 15 Lakhs Above Rs 5 Lakhs Lakhs above
Rs. 10,000 plus Rs. 13,000 plus
If the claim is above Rs.10 lakh but below Rs.25 lakhs in an arbitrator, Rs. 13,000 plus 1.3 0.3 % amount 0.3 % amount None of the
7 229 then the deposit that has to be paid if the claim is made within 6 % amount above above Rs. 10 above Rs. 10 above
months is Rs. 10 lakhs lakhs lakhs
 Rs. 39,000 plus Rs. 13,000 plus
Rs. 39,000 plus
230 If the claim is above Rs.10 lakh in an arbitration, then the deposit that 0.9 % amount 0.9 % amount None of the
7 0.39 % amount
has to be paid if the claim is made within 6 months is above Rs. 10 lakhs above Rs. 10 above Rs. 10 above
lakhs lakhs

The stock broker

can transferfunds The stock broker
The stock broker from own The stock broker can transfer funds
can transferfunds account to clients cannot transfer from own account
7 231 Which of the following is true ? from own account accounts and funds from own to clients
to clients accounts vice-versa at only account to clients accounts, but the
and vice-versa certain accounts at all reverse is not
circumstances possible.
allowed by SEBI

7 232 Who is the back-bone of the indian market? Stock Exchange Trading Members Investors Regulators

It is an alternate It isunder
prescribed Arbitration aims
Arbitration is a the
dispute at steady
7 233 Which of the following fact about arbitration is not true? Quasi-judicial Arbitration & resolution
resolution for the
process concilliation Act,
mechanism. disputes.
1996

Retired
234 Which of the following is not one of the category of non-members for Retired judges bureaucrats from Chartered
7 Advocates
being on the panel of arbitrators appointed by the exchange? fomr high-court the Ministry of Accountant
Finance

After hearing both After examining After submission

7 235 When the arbitrator close the arbitration reference? all the revelant given by the All of the above
the parties. documents parties.

Final stamp is The award is

taken on stamp forwarded to the
Exchange then,
Award has to be a Ex-parte Awards paper of Rs. 100 which will further
7 236 which of the following statement about arbitration award is not true? and arbitrations
Speaking Award are also given forward the
signatures are
obtained on Final award to the
applicant as well
Awards. as respondent.
 237 Arbitration reference shall be concluded by way of issue of an arbitral within four within three
7 within two months within six months
award _______ from the date of appointment of the arbitrator(s). months months

238 For how many days, the time for issue of arbitral award can be Not more than not more than 21 Not more than Not more than
7 extended for sufficient causes? three months days one months two months
where in one party does not attend the proceedings even upon being
239 served the notice and the arbitrators have to pass a decision based on
7 the documents and arguments given by one party, the award is known Compulsory award Speaking award Ex-parte award one-sided award
as-

Three categories
Higher of amount Claim is filled depending upon
240 Which of the following is the criteria for deciding on requisite deposit
7 of claim/counter with-in or after 6 the amount of All of the above
towards arbitration fees? claim months claim / counter
claim.

the arbitration
the client has reference for the the claim
241 A client who is a party to the arbitration, cannot be exempted from the requested for
7 exemption for the same has been /counter claim is All of the above
deposting arbitration fees in case- filed within 6 upto Rs. 10 lakhs
same' months

Exchange will Exchange will Exchange will

refund the refund the refund the
deposit, if any, to deposit, if any, to deposit, if any, to
the party in whose the party in the party in
favour the award whose favour the whose favour the
is passed and award is passed award is passed
242 How the deposit made towards arbitration fees by the parties, would appropriate the and appropriate
7 and appropriate All of the above
be treated after issuing the arbitral award? deposit, if any, the deposit, if the deposit, if
made by the party, any, made by the any, made by the
against whom the party, against party, against
award has been whom the award whom the award
passed , towards has been passed, has been passed,
claim passed by towards towards penalty
the award. arbitration fees

243 A party filling an appeal before the appleate panel does not pay_____ the statutory the procedural None of the
7 the prescribed fee
along with the appeal. dues deposits above

244 An appeal before the appellate panel of abritrators may be filed within
7 one month 21 days 45 ays two months
____ from the date of receipt of arbitral award.
 The appeal to the appeallate panel of arbitrators should be disposed of within two within three
7 245 _______ from the date of appointment of the appellate panel of such within one months within six months months months
appeal by way of issue of an appellate arbital award

may file an
may file an to the may file an appeal
appeal
application to the to the securities
securities
Court of appeallate
appeallate
have no recourse competent tribunal (SAT)
tribunal (SAT)
available and have jurisdiction in within within 45 days
7 246 A party aggreived by the appellate arbitral award- one month
to honour the accordance with from the date of
award section 34 of the from the date of receiving the
Arbitration & receiving the award from
conciliation Act, award from appeallate panel
appeallate panel
1996 of arbitrators
of arbitrators

Rs. 25000 + 0.25% Rs. 15000 + Rs. 17500 + 0.2% Rs. 27500 +
0.25% amount amount above Rs. above Rs.amount
0.15%
amount above Rs.
247 if the amount of claim is higher than Rs.25 lakhs and claim is filed above Rs. 25 25 lakhs
7 25 lakhs subject to lakhs subject 25 lakhs subject
within 6 months, what would be the amout of deposit? to a subject to a
a maximum of to a maximum of
maximum of maximum of
Rs.50,000 Rs.30,000
Rs.25,000 Rs.50,000

Rs. 25000 + 0.2% Rs. 35000 + 0.5% Rs. 27500 +

amount above Rs. amount above Rs. 0.75% Rs. 39500 + 0.9%
248 if the amount of claim is higher than Rs.10 lakhs and claim is filed after 10 lakhs subject to amount
7 10 lakhs subject amount above Rs.
6 months, what would be the amout of deposit? a maximum of to a maximum of above Rs. 10 10 lakhs
lakhs
Rs.50,000 Rs.65,000

3.9% subject to a 2.5% subject to a 0.75% subject to 4.5% subject to a

249 if the amount of claim is lower than Rs.10 lakhs and claim is filed after
7 minimum of Rs. minimum of Rs. a minimum of Rs. minimum of Rs.
6 months, what would be the amout of deposit? 30000 25000 25000 75000

if the amount of claim is lower than Rs.10 lakhs and claim is filed within 1.36% subject to a 1.3% subject to a 0.75% subject to 2.5% subject to a
7 250 6 months, what would be the amount of deposit? minimum of Rs. minimum of Rs. a maximum of Rs. maximum of Rs.
15000 10000 75000 15000

251 In MFSS/Star MF,No Subscription /redemption order should be entered

8 1 0
with amount equal to greater than Rs 1 crore
An applicant for registration or renewal of registration as a portfolio
8 252 manager is required to pay a non-refundable application fee of Rs 15 Lakhs Rs 1 Lakh Rs 10 Lakh Rs 5 lakh
________ to SEBI.
 Corporate manager has the power to set the branch order value limit
8 253 only and not the user order value limit True 0

254 The facility for modification of mutual fund order does not Depository
8 Scheme name Symbol and series All of the above
include____________ settlement

255 The ISIN of equity shares with rights which are different from equity
8 INP INA IN9 INF
shares bearing INE number starts with ?

256 The minimum investment amount prescribed for acceptance by a None of the
8 1 Lakh 5 Lakh 10 Lakh
portfolio manager from their clients is _____________ above

257 The portfolio manager shall not accept from the clients,funds or
8 True 0
securities worth less than 25 lakh rupees

The award can be The final Award is The award is

a speaking award taken on stamp forwarded to the None of the
8 258 Which of the following is not true about the arbitration awards? or a Ex-parte paper of Rs 100 applicant as well above
award as Respondent

Elimination of all
Elimination of bad risks associated
Immediate
of the following statement related to demateralised securities is deliveries such as Dematerialisation with physical
259 Which transfer and
8 signature of securities held certificates.Sucha
false? registration of
mismatches,invalid in street names s loss
transfer deeds etc securities ,theft,multination
etc

260 ________have obtained for each of the services offered by the Either of the
8 Licenses Certifications Both of the above
stockbrokers above
Mutual fund Personalized Book Runner &
8 261 Which of the following service is not offered by a stock broker's outlet? Margin Funding
Distribution Advice Lead Manager

Once their User

Once their Once their names IDs ,which have
member IDs are are cleared by the to be used fopr
262 When the stock broker is eligible to accept applications for IPOs and
8 approved by the SEBI after book building All of the above
submit them though his terminal online? exchange for the submitted by the purposes,are
purpose Lead Managers approved by the
exchange
 SCSBs would
block the find to SCSBs would SCSBs would
SCSBs woul accept the extent of bid upload the details transfer the
263 Which of the following Function of SCSBs regarding ASBA process is not
8 and verify the and unblock the in the web based amount for un-
true? application. same once basis bidding system of alloted shares to
of allotment is the Excahnge the investor.
finalized

264 Securities settlement for mutual fund schemes traded the Exchange's physical depository None of the
8 online trading platform takes place in- settlement mode. settlement mode Both of the above above

Registrar and Asset

265 Physical settlement of mutual fund schemes traded throughthe
8 Transfer Agents Depositories Management Cutodians
exchange's online trading platform takes place through the (RTA) Companies (AMC)

Physical subscription order for mutual fund scheme through exchange lower than or Greater than or
8 266 traded online system would be rejected if the order amount is not Lower than Greater than
Equal to Equal to
________the amount specified.
Physical redemption order for mutual fund scheme through exchange equal to or lower Equal to or
8 267 traded online system would be rejected if the order amount is Lower than Greater than
than greater than
_______the amount specified.

268 For mutual fund scheme traded through online platform of the
8 T+2 basis T+1 basis T+5 basis T+3 basis
exchange the subscription transactions shall be settled on-
For mutual fund scheme traded through online platform of the None of the
8 269 exchange ,pay out of funds for redemption transactions shall be physical mode Demat mode Both of the above above
directly made to the invesrtors from the RTAs for -
For mutual fund scheme in case the subscription application form Has not been
270 ___________the redemption request for such subscription will not be is not complete in None of the
8 reached to the Both of the above
any respect above
taken by the RTA and shall be rejected. RTA

Portfolio Services to high Asset

271 For what type of service the stock broker makes the investment Investment
8 Management Net worth Management
decision on behalf of the client and manages his investments? Advisory
service (PMS) Individuals (HNIS) Company (AMC)
 who have
completed their
Who have offices 10 years of
The condition of appointing a custodian if total AUM of portfolio in atleast 2 metro Offering purely operation
8 272 manager is more than Rs 500 crores,will not be applicable to portfolio All of the above
and 5 non -metro advisory services without any
managers- citties. suspension and
also have more
than 100 clients

Regulations
The SEBI (Portfolio provide that the fee charged to
Managers) portfolio manager the client by the
regulations 1993 shall charge a fee portfolio manager
have not as per the may be fixed
273 Which of the following statement about fee charged by the portfolio None of the
8 prescribed any agreement with amount or a
managers is not true? above
scale of fee to be the client for return based fee
charged by the rendering for a
portfolio manager portfolio combination of
to its clients. management both
services

Special Reports to
274 Which of the following is not one of the regular reports brought out by Broker financial
8 Stock research Secvtor Reports cater to needs of
the stock-brokers to be used by their clients? reports some investors.

The Book
275 Who prepares the list of trading members who are eligible to
8 The company The custodian Running Lead SEBI
participate in the book building process and provides to the exchange? Manager
Correct Status
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