NISM VI Revision - Test 3 PDF

Priyadharsani -
Status : Pass
Assessment Date : 31-01-2020 18:00:16
(GMT+05:30)
Performance Level : Moderate
77.00 100.00
Your Total Assessment
Score Score
0.00
Cut-Off marks
(Pass Marks)
77.00 M
Your Performance
Percentage Category
This report helps you to

achieve your targets as per
below stated objectives:
Improve your conceptual
understanding
/
Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance
with your performance
Performance Category Definitions
Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the
concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all
the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many
of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of
the concepts.
Performance Criteria
PERFORMANCE CATEGORY Excellent
RANGE 91% to 100% of Max Marks
PERFORMANCE CATEGORY High
PERFORMANCE CATEGORY Moderate
PERFORMANCE CATEGORY Low
RANGE Below 60% of Max Marks
Performance Category based on student marks
/
SECTION (GROUP) NISM VI Revision -Test 3 (NISM VI Revision -Test 3)
EXCELLENT 91.00 and above

STUDENTS WHO BELONG TO 91 TO 100 PERCENTAGE
GROUP
HIGH 81.00 to 90.00

GROUP
MODERATE 61.00 to 80.00

GROUP
LOW Below 60.00

STUDENTS WHO BELONG TO BELOW 60 PERCENTAGE
GROUP
ASSESSMENT Overall Score
EXCELLENT 91.00 and above

GROUP
HIGH 81.00 to 90.00

GROUP
MODERATE 61.00 to 80.00

GROUP
LOW Below and equal to 60.00

STUDENTS WHO BELONG TO BELOW 60 PERCENTAGE
GROUP
Where do you stand?
SECTION NAME NISM VI Revision -Test 3 (NISM VI Revision -Test 3)
SECTION SCORE 77.00 / 100.00
CATEGORY M
OVERALL Overall Score
OVERALL SCORE 77.00 / 100.00
PEFORMANCE CATEGORY M
Recommendations and Suggestions

1. Based on your overall scores:
Your overall score falls in the M category. Please avoid misconceptions and try to increase the speed of
/
solving
solving.
2. Based on your section-wise performance:
You seem to be strong in NISM VI Revision -Test 3. So it is suggested that you attempt NISM VI Revision -Test 3
section first
3. Some general suggestions to optimize your score:
The best performers plan and allocate equal time to each section.
Overall Performance Analysis

The below table shows section-wise analysis of marks scored by you, time spent by you, your percentage, your
accuracy and number of correct, incorrect, unanswered and marked for review questions.
MARKS SCORED BY YOU 77.00
TIME SPENT BY YOU (IN MINS) 46:25
YOUR SECTION PERCENTAGE 77.00%
YOUR SECTION ACCURACY 77.00%
TOTAL QUESTIONS 100
MAX NO OF QUESTIONS - TO ATTEMPT 100
QUESTIONS ATTEMPTED 100
CORRECT 77
INCORRECT 23
UNANSWERED 0
MARKED FOR REVIEW 0
/
SECTION (GROUP) OVERALL Total
MARKS SCORED BY YOU MARKS SCORED BY YOU 77.00
TIME SPENT BY YOU (IN MINS) TIME SPENT BY YOU (IN 46:25
MINS)
YOUR SECTION PERCENTAGE YOUR OVERALL 77.00%

PERCENTAGE
YOUR SECTION ACCURACY YOUR OVERALL 77.00%

ACCURACY
TOTAL QUESTIONS TOTAL QUESTIONS 100
MAX NO OF QUESTIONS - TO ATTEMPT MAX NO OF QUESTIONS - 100

TO ATTEMPT
QUESTIONS ATTEMPTED QUESTIONS ATTEMPTED 100
CORRECT CORRECT 77
INCORRECT INCORRECT 23
UNANSWERED UNANSWERED 0
MARKED FOR REVIEW MARKED FOR REVIEW 0
Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color
Below pie-chart shows section-wise percentage of marks scored
Section-wise marks
NISM VI Revision -Test 3, 77
NISM VI Revision -Test 3
/
Impact of Incorrect Responses
Below table provides the marks lost due to incorrect responses.
SECTION (GROUP) NISM VI Revision -Test 3(grp1)
NUMBER OF INCORRECT RESPONSES 23
MARKS LOST DUE TO INCORRECT 0

RESPONSES
TOTAL SCORE IF INCORRECT RESPONSES 77

WERE NOT MARKED
ASSESSMENT Overall
NUMBER OF INCORRECT RESPONSES 23
MARKS LOST DUE TO INCORRECT 0

RESPONSES
TOTAL SCORE IF INCORRECT RESPONSES 77.00

WERE NOT MARKED
In order to attempt more accurately, consider the following suggestions while attempting the questions:
1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for
later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.
Overall Preparedness Analysis

The below table represents the percentage of correct questions achieved at the analysis level.
Conceptual errors, for which you would require more reading and understanding of concepts.
Minor or careless mistakes, for which you would require a more composed and calm approach towards solving the
question paper.
Time Management
Below table shows the time you spent in each section.
/
TIME SPENT (IN MINS) 46:25
OVERALL Total time spent
TOTAL TIME SPENT 46:25
Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score
well in each section and ultimately meet the cut-off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to
score more.
Response Change Pattern

Below table provides the number of times you have changed your responses while answering the test and also the
nature of those response changes.
CORRECT TO INCORRECT 1
INCORRECT TO CORRECT 0
INCORRECT TO INCORRECT 0
CORRECT TO UNANSWERED 0
INCORRECT TO UNANSWERED 0
ASSESSMENT Overall
/
It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more
often than not, guesswork leads to an incorrect response thereby inviting negative marks which in turn has an
adverse effect on the overall rank.
You must use your knowledge, observation and elimination skills to arrive at the correct answer.
Interpretation and Suggestions

1. Incorrect to incorrect response change:
You may need to work more on the concept level, in order to gain confidence.
2. Incorrect to correct response change:
At the first glance you were not very sure about the solution.
You must spend at least 1 minute per question and if you are not able to reach to the solution, you must revisit
the question to enhance your score.
Perform this response change only when you are confident or have spotted a mistake in the solution of your
first response.
3. Correct to incorrect response change:
You are not sure of the solution and have either applied a wrong concept or made a calculation mistake.
You need to practice more questions on the same concept.
4. Correct to unanswered response change:
You are not sure of the solution
You need to practice more questions on the same concept.
Perform this response change only when you are not confident of your solution.
You must try to spend at least 1 min before leaving it unanswered.
5. Incorrect to unanswered response change:
Your judgment of avoiding negative marks is right.
You must try to spend at least 1 min before leaving it unanswered.
Overview: NISM VI Revision -Test 3

The below table provides your marks in NISM VI Revision -Test 3 along with the average marks scored by the others
(students who cleared this assessment) and the marks scored by the topper.
MARKS SCORED BY YOU 77.00 / 100.00
YOUR SECTION PERCENTAGE 77.00%
YOUR SECTION ACCURACY 77.00%
TIME SPENT BY YOU (IN MINS) 46:25

/
Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color
Question wise Analysis
Correct, 77
Marked for Review, 0

UnAnswered, 0
InCorrect, 23
Correct InCorrect UnAnswered Marked for Review
Performance Analysis: NISM VI Revision -Test 3

1. The below table analyzes your performance at question level
2. It highlights conceptually strong and improvement areas within the section and areas that require reinforcement of
concepts.
3. The accuracy of the response to each question and time spent are correlated and interpreted in terms of expert
advice on preparedness level.
Question wise details

Please click on question to view detailed analysis
= Not Evaluated = Evaluated = Correct = Incorrect

= Not Attempted = Marked for Review = Answered = Correct Option
= Your Option
/
Question Details
Q1. The Depositories Act, 1996 provides for the establishment of
depositories in securities with the objective of ensuring free
transferability of securities.
How to solve : The Depositories Act, 1996 provides for the establishment of depositories in
securities with the objective of ensuring free transferability of securities with speed, accuracy
and security. This is done by (a) making securities freely transferable subject to certain
exceptions; (b) dematerialization of the securities in the depository mode; and (c) providing
for maintenance of ownership records in a book entry form.
Status : Correct
Options :
1. TRUE
2. FALSE
Timespent (in sec): 49 Correct to Incorrect: 0 Incorrect to Correct: 0

Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.
Q2. Units of Mutual Funds and Commercial Papers can be dematerialised.
How to solve : The following categories of securities are eligible for dematerialisation as per SEBI Regulations. * shares,
scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated
company or other body corporate; * units of mutual funds (MFs), rights under collective investment schemes (CISs) and
venture capital funds (VCFs), commercial paper (CP), certificates of deposit (CD), securitized debt, money market
instruments and government securities, unlisted securities shall also be similarly eligible for being held in dematerialized
form in a depository.
Status : Correct
Options :
1. TRUE
2. FALSE
Timespent (in sec): 5 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0

Correct to unanswered: 0 Incorrect to unanswered: 0
Q3. When a minor becomes a major, a fresh DP-Client agreement has to be executed with
the Client.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q4. When dividend cheques are sent to the share holders, its mandatory for the issuer to
print Bank A/c details as received from the Depository.
Status : Correct
Options :
1. TRUE
2. FALSE

Q5. When there were physical shares, the proof of transfer was .
How to solve : When physical shares are sent for transfer to the company, the company after proper verification endorses
on the back of the certificate and enters the buyers name etc.
Status : Correct
Options :
1. The registered letter acknowledgement

2. The endorsement on the physical share
3. The sellers confirmation letter
4. All of the above

Q6. There are two Depositories in India that provides all the Depository services.
How to solve : The two Depositories are NSDL and CDSL.

Status : Incorrect
Options :
1. FALSE
2. TRUE

Comments: You have most probably committed a numerical or conceptual mistake or you would have guessed the answer.
/
Q7. HUF accounts can be opened with joint holders.
How to solve : HUF accounts cannot be opened with joint holders.

Status : Correct
Options :
1. TRUE
2. FALSE

Q8. When a trade is cleared and settled without the participation of a clearing member, it
is called â€“
Status : Correct
Options :
1. Online Trade
2. Web Trade
3. Off Market Trade
4. Block Trade

Q9. A Demat Requisition Form ie. DRF can be rejected by a Registrar and Transfer agent if
Status : Correct
Options :
1. The signatures in their records do not match with that on DRF

2. The securities to be Dematted are not attached with DRF
3. The ISIN number of the security is wrongly mentioned
4. All of the above

/
Q10. If the lender needs concurrence of the borrower for appropriating securities to his
account, the transaction is called ?
Status : Correct
Options :
1. Hypothecation
2. Pledge
3. Either of the above
4. None of the above

Q11. Obtaining PAN Card details of all the holders is compulsory for all categories of
demat account holder(s) apart from some exception
Status : Correct
Options :
1. TRUE
2. FALSE
Q12. When an application is made to transfer Government Securities (G-Secs) in SGL form
to Depository account, the clients signature on the DRF-GS need be verified wit that on the
account opening form.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q13. The sponsors of the proposed depository should apply to for a certificate of
registration
How to solve : As per the provisions of the SEBI Act, a depository can deal in securities only after getting a certificate of
registration from SEBI. The sponsors of the proposed depository should apply to SEBI for a certificate of registration in the
prescribed form. On being satisfied with the eligibility parameters of a company to act as a depository, SEBI may grant a
certificate of registration subject to certain conditions.
Status : Incorrect
Options :
1. RBI
2. NSE or BSE
3. SEBI
4. Finance Ministry

Q14. A Depository Participant may terminate/stop its operation by giving a days notice to
the Depository.
How to solve : On allotment, the Issuer / its R&T agent provides the details of successful allottees to the depository and the
execution date when the securities should be credited to the beneficial owners accounts.
Status : Correct
Options :
1. 30
2. 45
3. 60
4. 90

Q15. The is fully responsible for destruction, mutilation and cancellation of certificates
received and accepted by it for dematerialization.
Status : Correct
Options :
1. Depository Participant (DP)

2. Depository
3. Issuer/R&T Agent
4. Stock Broker

/
Q16. Persons who are holding shares in physical form can get them dematerialised by
submitting them to .
How to solve : Investors have to submit the physical securities along with the DRF (Demat Requisition Form) to the
Depository Participant (DP) with whom they have opened a d'mat account. The DP will them send the physical securities to
the Transfer Agent who will then dematerialise the shares after proper verification.
Status : Correct
Options :
1. their broker / sub broker
2. depository
3. depository participant
4. Bank

Q17. The Client-Participant agreement is a standard agreement and is approved b
Status : Correct
Options :
1. Depositories
2. SEBI
3. Stock Exchange
4. Stock Brokers
Q18. A company ABC co. is coming up with a public offer of Rs 9 crores. Can the company
issue securities in physical form and can the subscribers sell the physical certificates ?
How to solve : As per the Depository Act rules, a company will have to issue securities in Demat form only if the issue size is
above Rs 10 crores. In the above example, the issue size is Rs 9 crore, so the company can issue securities in physical form.
But the same cannot be sold as all trading on stock markets is done in Demat form only.
Status : Correct
Options :
1. No, the company cannot issue securities in physical form and yes the subscribers can sell the
physical certificates
2. No, the company cannot issue securities in physical form and No, the subscribers cannot sell
3. Yes, the company can issue securities in physical form and NO, the subscribers cannot sell
4. None of Above

/
Q19. Which of the following is a Cash Corporate Action ?
How to solve : Bonus and Rights are in the form of additional shares. Dividend is in the form of cash benefit to the share
holders.
Status : Correct
Options :
1. Dividend
2. Bonus
3. Rights
4. All of the above

Q20. Nomination of shares is a provision under which act ?
Status : Incorrect
Options :
1. Depositories Act 1996

2. SCRA 1956
3. Companies (Amendment) Act 1999
4. SEBI Act

Q21. When a Statement of Transaction (SOT) is given to a client on the closure of his
account, the DP has to mention the words prominently on this statement.
Status : Correct
Options :
1. ACCOUNT SUSPENDED
2. ACCOUNT CLOSED
3. ACCOUNT CANCELLED
4. ACCOUNT DE-ACTIVATED
/
Q22. Which of the below details should be mentioned on a Delivery Instruction Slip (DI)
Status : Incorrect
Options :
1. Settlement Number
2. Clearing Member
3. Market Type
4. All of the above

Q23. A demat account with a zero balance of securities can be closed anytime
Status : Correct
Options :
1. TRUE
2. FALSE

Q24. "Non-cash corporate actions" involves which of the following?
Status : Correct
Options :
1. Both monetary as well as non-monetary benefits

2. All benefits other than monetary benefits
3. Monetary Benefits

/
Q25. Who can make an application for demat of securities.
Status : Correct
Options :
1. The Depository
2. The DP
3. The holder of the security
4. The Stock Exchange

Q26. In case of an Off market trade, the debit is effected on the execution date.
How to solve : Any trade that is cleared and settled without the participation of a clearing member or clearing corporation
ie. without the involvement of a Stock Exchange, is called off-market trade. Large deals between institution, trades among
private parties, transfer of securities between a client and a sub-broker, large trades in debt instruments are normally
settled through off-market route. The account holder is required to specify the date on which instruction should be
executed by mentioning the execution date on the instruction. The debit will be effected on this execution date.
Status : Correct
Options :
1. TRUE
2. FALSE

Q27. What are transitory d'mat accounts ?
How to solve : A Transitory account is the account of the clearing member. The securities in this account are held for a
commercial purpose only and are not owned by him.
Status : Incorrect
Options :
1. D'mat account of NRI's

2. D'Mat account of Minors
3. D'Mat account of Clearing Members
4. D'Mat account of Beneficiary

/
Q28. The aggregate value of the securities of the beneficial owners, held in dematerialized
form through a stockbroker DP, cannot be more than times the net worth of the
stockbroker.
Status : Incorrect
Options :
1. 30
2. 50
3. 70
4. 100

Q29. When appllying for shares in an IPO in demat form, the Client ID needs to be filled
up.
How to solve : The Client ID is a part of the Demat A/c no and needs to be filled up in the IPO Apllication form. The shares
alloted in the IPO will be directly credited to the Demat A/c.
Status : Correct
Options :
1. TRUE
2. FALSE

Q30. A Certificate of Deposit cannot be dematerialised.
How to solve : The following categories of securities are eligible for dematerialisation as per SEBI Regulations. * shares,
scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated
company or other body corporate; * units of mutual funds (MFs), rights under collective investment schemes (CISs) and
venture capital funds (VCFs), commercial paper (CP), certificates of deposit (CD), securitized debt, money market
instruments and government securities, unlisted securities shall also be similarly eligible for being held in dematerialized
form in a depository.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q31. In case of transmission of shares to the successors, the successors express their
inability to produce the required documents and if the market value of the securities held
in each of the accounts of the deceased BO as on the date of application for transmission is
not more than Rs. , DP may admit the request for transmission.
Status : Incorrect
Options :
1. Rs 50,000
2. Rs 1 lakh
3. Rs 2 lakhs
4. Rs 5 lakhs

Q32. Nominations can be made by individuals for Beneficiary Accounts held jointly.
How to solve : Nomination can be made only by individuals holding beneficiary owner accounts on their own behalf singly
or jointly..
Status : Correct
Options :
1. TRUE
2. FALSE

Q33. Of the below, which trades are not settled through off market route ?
How to solve : In Derivatives trading, there is no delivery of securities involved. So there is no off market transfer of
securities.
Status : Incorrect
Options :
1. Derivative deals on a stock exchange
2. Deals between a client and a sub broker
3. Deals between two institutions
4. Deals in debt instruments

/
Q34. It is possible for investors to transpose names of the joint holders alongwith the
process of dematerialisation through their DPs
How to solve : The process of effecting changes in the order of joint names appearing on a security certificate is called
Transposition
Status : Correct
Options :
1. TRUE
2. FALSE

Q35. The name of the account holder of a demat account can be changed by making an
application on a Rs 100 stamp paper.
How to solve : The following changes can be done in an demat account : * Standing instruction facility * Address *
Occupation details * Nominee details * Bank details * PAN Number details -E-mail addresses The names of the account
holders however, cannot be changed after opening of demat account.
Status : Correct
Options :
1. TRUE
2. FALSE

Q36. The details of Nomination and Date of Birth are required only of
Status : Correct
Options :
1. Clearing Members Account

2. Corporate Account
3. Individual Owner Account
4. None of this

/
Q37. A is required by a nominee to give effect to transmission of shares.
Status : Correct
Options :
1. Recurring A/c
2. Savings A/c with a nationalised bank
3. Demat A/c
4. Current A/c with any bank.

Q38. If the third letter in an ISIN no. is 'B' then the security is a .
Status : Correct
Options :
1. Equity Share
2. Mutual Fund Unit
3. State Govt. Security
4. Central Govt. Security

Q39. The process of Clearing Corporation transferring the securities to the broker's
settlement-account for the quantity of securities purchased by them on behalf of their
clients is known as 'pay-out'.
Status : Correct
Options :
1. TURE
2. FALSE

/
Q40. A DP has to get an internal audit done of the depository operations on a basis by a
practicing chartered accountant or a company secretary
Status : Correct
Options :
1. Monthly
2. Quaterly
3. Half Yearly
4. Yearly

Q41. A demat account for HUF can be opened with joint holders.
How to solve : A demat account for HUF cannot be opened with joint holders
Status : Correct
Options :
1. FALSE
2. TRUE

Q42. The opening of a clearing member account constitutes a
How to solve : The opening of clearing member account constitutes a "standing instruction" to receive credits from the
clearing corporation when there is a pay-out.
Status : Correct
Options :
1. securities instructions
2. standing insructions
3. debit instruction
4. non of the above

/
Q43. If a public limited company wants to make a public offer of more than Rs 10 crore.
How to solve : According to the Companies Act, 1956 (section 68B) every listed public company, making an initial offer of
any security of Rs. 10 crore and above has to issue it only in dematerialised form in accordance with Depositories Act, 1996.
Status : Incorrect
Options :
1. It has to take special permission from Commerce Ministry

2. The company has to make the public offer both in dematerialized and paper form
3. The company has to make the public offer only in dematerialized form
4. None of Above

Q44. SEBI has made it mandatory for DP's to have in case of loss or destruction of data.
Status : Correct
Options :
1. Printed Copies of data

2. Back Up of records
3. Sufficient Insurance
4. All of the above

Q45. Who is required to give the Inter-settlement Instructions to the Participants for
securities lying within a same CM account but in different settlement a pocket?
Status : Incorrect
Options :
1. Depository
2. Clearing Member
3. Exchange
4. Clearing House
/
Q46. The clearing system attached to the SEBI performs the function of ascertaining the
payin or payout.
How to solve : The clearing system attached to STOCK EXCHANGE performs the function of ascertaining the payin or
payout.
Status : Incorrect
Options :
1. TRUE
2. FALSE

Q47. The Depository Participant has to reconcile its record with the Depository on a basis.
How to solve : The Depository Participant has to reconcile its records with its depository on a daily basis. The depository
system has been formulated to do this reconciliation automatically every day at the end of the day.
Status : Correct
Options :
1. every 12 hours
2. daily
3. every Wednesday and Saturday
4. weekly

Q48. For the requests of rematerialisation, which of the following are definitely required ?
How to solve : Rematerialisation is the process of issuing physical securities in place of the securities held electronically in
the book-entry form with the depository. Is basically reverse of dematerialisation. A beneficial owner holding securities
with a depository can get his electronic holding converted into physical holding at any time. The owner should make a
request to the Issuer or its R&T Agent through his DP in the prescribed Rematerialisation Request Form (RRF). On receipt of
RRF, the DP checks whether sufficient free /lock-in balance of the securities sought to be rematerialised is available in the
account of the client. If sufficient balance is available, the DP accepts the RRF and communicates the request to the
depository through the DP system.
Status : Correct
Options :
1. The request has to be made by the beneficial owner

2. There has to be sufficient balance of securities in the account
3. Both 1 and 2

/
Q49. Who has the authority to cancel the registration of a Depository Participant ?
How to solve : The certificate of registration granted to a DP may be cancelled by SEBI if it is found that: * it is guilty of
fraud, or has been convicted of an offence involving moral turpitude or * it has been guilty of repeated defaults specified
for suspension of the registration.
Status : Correct
Options :
1. NSDL or CDSL
2. The Stock Exchange
3. SEBI
4. Finance Ministry under the instructions of RBI.

Q50. While carrying out the modifications in Corporate Accounts by the DP, the name of
any existing account holder of an account can can be deleted and new ones added.
How to solve : While carrying out the modifications, the name of any existing account holder of an account can neither be
deleted nor can any new name can be added. DPs can only make changes to the name(s) of existing account holder(s) of
the account.
Status : Correct
Options :
1. TRUE
2. FALSE

Q51. The creation of pledge and hypothecation against securities which are held in demat
mode is permitted under section 14 of the Depositories Act, 1996
How to solve : Its under SECTION 12 of the Depositories Act.

Status : Correct
Options :
1. TRUE
2. FALSE
/
Q52. Brokers of stock exchanges that offer settlement through depository are required to
open a Beneficial Owner Account.
How to solve : Brokers of stock exchanges that offer settlement through depository are required to open a 'clearing
member account'
Status : Incorrect
Options :
1. TRUE
2. FALSE

Q53. A client cannot make request for a change in signature in his DP account.
How to solve : The Client can make a request in writing specifying reasons for change in signature.
Status : Correct
Options :
1. TRUE
2. FALSE

Q54. The Delivery Instruction (DI) slip may not contain the settlement number for which
the securities are being transferred to the clearing member account
How to solve : The DI slip should contain the settlement number for which the securities are being transferred to the
clearing member account.
Status : Correct
Options :
1. TRUE
2. FALSE
/
Q55. As per the bye laws of Depository, an application to become a DP should contain the
business history of the applicant of atleast 5 years.
How to solve : The applicant should furnish information and details of its business history for a minimum period of THREE
years or from the date of its inception, if less than three years.
Status : Correct
Options :
1. TRUE
2. FALSE

Q56. The transaction statements can be sent to clients in electronic form if the clients have
agreed to it. In what way can this be done ?
How to solve : The transaction statements can be provided electronically, provided an agreement in the prescribed format
has been executed with the clients for this and adequate security measures have been taken. SEBI allows the DP's to
provide transaction statements and other documents under Digital Signature, as governed under Information Technology
Act, 2000
Status : Correct
Options :
1. In email form with scanned signature

2. In email form with digital signature
3. Only in scanned form
4. All of the above

Q57. The clearing system attached to performs the function of ascertaining the payin or
payout.
Status : Correct
Options :
1. RBI
2. Mutual Fund
3. Stock Exchange
4. All of the above

/
Q58. Where there is an objection from any member of the HUF, transmission of securities
held in the beneficial owner account should be effected only on the basis of a Decree by a
competent Court or the Deed of Partition.
Status : Correct
Options :
1. TRUE
2. FALSE

Q59. The depositories have provided model agreement format to the DPs for
How to solve : The depositories also provide depository facility to the commodity exchanges for settlement of trades
pertaining to warehouse receipts for commodities. For this the depositories have provided a model agreement format to
the DPs.
Status : Incorrect
Options :
1. DRF Receipts
2. Ware house Receipts
3. SGL-2 Receipts
4. Remat Receipts

Q60. An investor in government securities holding electronic balances in the depositories

SGL-2 account can convert them into physical certificates by the process of
rematerialisation.
How to solve : An investor in government securities holding electronic balances in the depositories SGL-2 account can
convert them into physical certificates by the process of rematerialisation. For this, an application has to be made to the
depository, through the DP, in the Rematerialisation Request Form (RRF-GS). On receipt of the RRF-GS, the DP checks the
form for completeness, correctness and validity and also sees if sufficient free balance is available. If the form is found to
be in order and there is sufficient balance, the DP accepts the RRF-GS and intimates the request to the depository.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q61. In case where a state or the central government is the issuer, the depository
reconciles the records of the dematerialised securities with the statement provided by the
RBI on a basis
Status : Correct
Options :
1. Hourly
2. Daily
3. Weekly
4. Monthly

Q62. The entire process of rematerialisation takes a maximum of 30 days.
Status : Correct
Options :
1. FALSE
2. TRUE

Q63. In the process of Rematerialisation, the depository account of a beneficial owner is

debited for the equivalent number of securities are issued.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q64. Arrange the following in proper sequence with respect to dematerialization of
physical certificates- 1. Transaction statement is provided by DP. 2. An investor opens an
account with DP 3. Certificates are marked saying submitted for Dmat. 4. Investor submits DRF
along with the physical certificates
Status : Incorrect
Options :
1. 1-2-4-3
2. 2-4-1-3
3. 2-1-3-4
4. 2-4-3-1

Q65. A DP can collect Rent and Taxes on behalf of a Commodity Exchange.
How to solve : DPs may make their own business/contractual agreement with the commodity exchanges/warehouse
owners, as they deem fit, including terms and conditions related to collection of rent, etc. If DPs are required to collect any
charges/tax/rent on behalf of commodity exchange / warehouse, DPs may have to ensure that such function has adequate
legal b
Status : Correct
Options :
1. TRUE
2. FALSE

Q66. Account means suspending any further transaction from a depository account.
Status : Correct
Options :
1. Suspension
2. Cancellation
3. Freezing
4. Deactivation

/
Q67. When an investor applies in an IPO and wishes to receive the allotted securities in
Demat form he has to fill
Status : Correct
Options :
1. The Depository Name

2. The DP _ID
3. Depository Participant's name
4. All of the Above

Q68. When a DP receives a request for pledge, it verifies whether the securities exist in the
Pledgors account.
Status : Correct
Options :
1. FALSE
2. TRUE

Q69. The application for renewal of certificate of the Depository Participant should be
made through
Status : Correct
Options :
1. SEBI
2. Stock Broker
3. Depository
4. Finance Ministry

/
Q70. Corporate Actions affect only the of the securities.
How to solve : Corporate actions affect the beneficial owners ie. the holders of the securities.
Status : Correct
Options :
1. Borrower
2. Beneficial Owner
3. Depository Participant
4. All of the Above

Q71. The pledgor gives the Pledge closure request to .
How to solve : Steps for Pledge closure procedure : 1.Pledgor repays the loan to Pledgee 2. Pledgor gives a Pledge Closure
request to his DP 3. Pledgor's DP forwards the request to Depository 4. The Depository forwards this request to Pledgee's
DP 5. The Pledgee's DP confirms with the Pledgee with a Pledgee Closure Confirmtion Form 6. This is intimated to
Depository and the Pledgor's DP 7. Pledgor's DP intimates about this to the Pledgor.
Status : Incorrect
Options :
1. Depository
3. Pledgee
4. SEBI

Q72. An investor has to compulsorily fill in the Bank details when filling up the IPO
application form.
How to solve : The Bank Alc details are not needed as the DP will capture these details from the Demat account of the
applicant.
Status : Incorrect
Options :
1. TRUE
2. FALSE

/
Q73. In CDSL, there are option(s) of .
Status : Correct
Options :
1. early pay-in
2. normal pay-in
3. auto pay-in
4. All of the above

Q74. regulates the sale and purchase of derivatives contract on money market securities.
How to solve : A Depository Participant may terminate its participation in the depository by giving a notice of not less than
30 days. On receipt of such notice, the depository may cease to provide any service or act for the DP. The depository
should notify the DP, other participants, clients of the surrendering DP and SEBI within seven days of this action.
Status : Correct
Options :
1. RBI
2. SEBI
3. NSE
4. NSDL / CDSL

Q75. Government has exempted stamp duty on transfer of securities in dematerialized

form.
Status : Correct
Options :
1. FALSE
2. TRUE

/
Q76. Identify the incorrect bracketed portion of the sentence: (Accounts opened) (under
agreement with DPs) shall hold (electronic warehouse receipts)(along with other
securities).
Status : Incorrect
Options :
1. Alongwith other securities

2. Accounts opened
3. Agreement with DPs
4. Electronic warehouse re-ceipts

Q77. Voters ID cannot be accepted as an ID proof for opening Demat A/C. True or False ?
How to solve : The foll ID proofs are accepted for Opening a Demat Account : Passport, Voter ID Card, Driving license, PAN
card with photograph. Also Identity card/document with applicant’s Photo, issued by a) Central/State Government and its
Departments, b) Statutory/Regulatory Authorities, c) Public Sector Undertakings, d) Scheduled Commercial Banks, e) Public
Financial Institutions, f) Colleges affiliated to Universities, g) Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc.,
to their Members; and h) Credit cards/Debit cards issued by Banks are accepted.
Status : Correct
Options :
1. TRUE
2. FALSE

Q78. In case of IPO, when does the Depository credit the shares to the allottees account.
How to solve : Off market transactions are between two persons/accounts on mutually agreeable terms, i.e. a transaction
done on a person-to-person basis, without going through the stock exchange mechanism.
Status : Correct
Options :
1. On the Allotment Date

2. On the Execution Date
3. On the Record Date
4. On the Book Closure date

/
Q79. For Pledge, the pledgor and the pledgee must have a beneficial account with the
same depository as inter-depository pledge is presently not permitted.
Status : Correct
Options :
1. TRUE
2. FALSE

Q80. State True or False - The process of Clearing Corporation transferring the securities
to the broker's settlement-account for the quantity of securities purchased by them on
behalf of their clients is known as 'payin'.
How to solve : It is known as PAY OUT.

Status : Incorrect
Options :
1. TRUE
2. FALSE

Q81. What is an SGL-1 account ?
How to solve : An investor in government securities has the option to have securities issued either in physical form or in
book-entry form (commonly known as SGL form). There are two types of SGL facilities - SGL-1 and SGL-2. In the SGL-1
facility, the account is opened with the RBI directly. Only entities, which fulfill all the eligibility criteria prescribed by RBI, are
permitted to open SGL-1 account.
Status : Incorrect
Options :
1. Its a summary of all demat accounts of one family

2. Its an account opened with RBI directly.
3. Its a Special Government Ledger Account
4. There is no such thing as SGL-1 account

/
Q82. Separate DRFs have to be submitted for Free and locked-in securities.
How to solve : Separate DRFs have to be submitted for: ? Free and locked-in securities; ? Each ISIN; ? Securities locked-in for
different reasons; ? Securities of different paid-up value; and ? For each client account.
Status : Correct
Options :
1. FALSE
2. TRUE

Q83. Its the duty of the depository to announce the record date for every corporate action.
How to solve : The issuer ie. the company determines and announces the record date for the corporate actions like
dividend, bonus issues etc.
Status : Correct
Options :
1. FALSE
2. TRUE

Q84. The Clearing Corporation can directly effect entries to the account of
How to solve : If the broker gives pay-out breakup of his clients to Clearing Corporation, then pay-out of securities are
directly credited in the clients account .
Status : Correct
Options :
1. Brokers
2. Clients
3. Professional Trading Members
4. All of the above

/
Q85. For all public issues in demat form, the company has to enter into an agreement with
any one of the depository.
How to solve : For all public issues in demat form, the company has to enter into an agreement with ALL the depositories.
Status : Correct
Options :
1. TRUE
2. FALSE

Q86. Beneficiary Owners account can be opened by RTA'
Status : Correct
Options :
1. TRUE
2. FALSE

Q87. The depositoryâ€™s G-Sec cell rejects the dematerialisation requests in case rejects
the transfer on account of signature mismatch.
How to solve : The depository’s G-Sec cell also rejects the dematerialisation requests in case RBI rejects the transfer on
account of signature mismatch or in case the signatories are not registered with RBI.
Status : Incorrect
Options :
1. SEBI
2. RBI
3. NSDL/CDSL

/
Q88. When securities are submitted for dematerialisation, the acknowledgement is given
by the to the owner of the securities.
How to solve : The DRF along with the securities is always submitted to the DP by the client. If DRF and accompanying
certificates are found in order, the DP should accept the DRF and issue an acknowledgement to the client.
Status : Incorrect
Options :
1. Depository
2. R & T Agent
4. Parent Company

Q89. In CDSL, the Standing Instructions are also identified as
How to solve : A Transferee can give 'Standing Instructions' [SI] to its DP for securities to be received. If SI is not given,
transferee has to give separate receipt instructions each time securities have to be received. ‘SI’ is also identified as
‘Purchase waiver’ or ‘Confirmation waiver’ in CDSL
Status : Correct
Options :
1. Purchase Waiver
2. Confirmation Waiver
3. Both 1 and 2

Q90. One of the important role of a Securities market is to provide a channel for allocation
of savings to investors.
Status : Correct
Options :
1. TRUE
2. FALSE

/
Q91. A nomination, substitution shall be invalid if the details of the securities entered in
the nomination forms does not match those in the records of the Participant.
How to solve : The Client(s) may make a nomination of his/their account in favour of any person by filing with the relevant
Participant. A nomination, substitution shall be valid only if: * it is submitted to the Participant by the rightful Client(s).The
nomination form has to be signed by all holders. A POA holder cannot nominate. * it is in the prescribed format (format is
given by the depository to the participant). * it is duly signed by Client(s). * it is properly signed and witnessed. * signature
of the Client(s) tally with the specimen signature records. * the details of the securities entered in the nomination forms
match those in the records of the Participant. CDSL Nomination form does not have provision for mentioning securities.
Nomination is applicable to entire holding. * the photograph of the Nominee is annexed to the nomination form. * the
Nominee has signed the nomination form and guardian in case of the nominee being a minor.
Status : Correct
Options :
1. TRUE
2. FALSE

Q92. In NSDL, a pledgor can substitute the securities offered in a pledge transaction.
How to solve : In NSDL, a pledgor (borrower) can substitute the securities offered in a pledge transaction, if the pledgee
(lender) agrees to it.
Status : Correct
Options :
1. TRUE
2. FALSE

Q93. Who are required to give Inter-settlement Instructions to the Participants for
securities lying within a same Clearing Member account but in different settlement
pocket.
Status : Correct
Options :
1. RBI
2. NSDL
3. Clearing Members
4. Clearing Corporation

/
Q94. For dematerialization of Govt. securities the investor has to fill up
How to solve : Remember - Demat request form for dematerializing government securities is different and is called "DRF -
GS".
Status : Correct
Options :
1. WIG - GS
2. DIP - GS
3. DRF - GS
4. GID - GS

Q95. One of the main role of is to promote the development of Securities Market in India.
Status : Incorrect
Options :
1. RBI
2. SEBI
3. Commerce Ministry
4. Finance Ministry

Q96. When a client makes a request for closure of accounts, DPs should provide the SOT
to the Client - what does SOT stand for ?
How to solve : If a client makes a request for closure of accounts, DPs should provide the Statement of Transaction (SOT) to
the Client for the period from the beginning of the quarter in which the account is closed till the date of closure.
Status : Correct
Options :
1. Statement of Transaction
2. Settlement of Transction
3. Settlement of Trading
4. Securities on Termination

/
Q97. In case of Government Securities, The DP must ensure that changes in the beneficial
owner's accounts, such as change in bank details, change of address, etc., are updated well
in advance of the .
Status : Incorrect
Options :
1. due date of interest payment

2. shut Period
3. redemption payment due date
4. All of the above

Q98. The documents have to be sent to , if the shares are in physical form.
Status : Correct
Options :
1. SEBI
2. the Stock Exchange in which the share is traded
3. the company
4. NSDL or CDSL

Q99. The R&T agent has to confirm/reject a Demat request within days.
How to solve : R&T Agent undertakes that the dematerialization and rematerialisation requests are processed within 15
and 30 days respectively. However, the period may be relaxed by the depositories in case of bulk dematerialization
requests
Status : Correct
Options :
1. 10
2. 15
3. 20
4. 30

/
Q100. When the Clearing Corporation CC / Clearing House CH gives pay out, the securities
are transferred
How to solve : The CC/CH gives pay-out and securities are transferred to the buying broker's account. The broker then
gives delivery instructions to his DP to transfer securities to the buyer's account. If a broker gives pay-out breakup of his
clients to CC/CH then pay-out securities are directly credited in the clients account by the CC/CH.
Status : Correct
Options :
1. to the buying broker account

2. to the selling broker account
3. to the buying sub broker account
4. to the selling sub broker account

Your Response Change Pattern: NISM VI Revision -

Test 3
The below table provides the number of times you have changed your responses to the NISM VI Revision -Test 3
questions and also the nature of those response changes.
Error Identification and Rectification: NISM VI

Revision -Test 3

NISM VI Revision - Test 3 PDF

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This report helps you to

Performance Category Deﬁnitions

PERFORMANCE CATEGORY Excellent

RANGE 91% to 100% of Max Marks

PERFORMANCE CATEGORY High

RANGE 81% to 90% of Max Marks

PERFORMANCE CATEGORY Moderate

RANGE 61% to 80% of Max Marks

PERFORMANCE CATEGORY Low

RANGE Below 60% of Max Marks

Performance Category based on student marks

EXCELLENT 91.00 and above

HIGH 81.00 to 90.00

MODERATE 61.00 to 80.00

LOW Below 60.00

ASSESSMENT Overall Score

EXCELLENT 91.00 and above

HIGH 81.00 to 90.00

MODERATE 61.00 to 80.00

LOW Below and equal to 60.00

Where do you stand?

SECTION NAME NISM VI Revision -Test 3 (NISM VI Revision -Test 3)

SECTION SCORE 77.00 / 100.00

OVERALL Overall Score

OVERALL SCORE 77.00 / 100.00

Recommendations and Suggestions

Overall Performance Analysis

SECTION (GROUP) NISM VI Revision -Test 3 (NISM VI Revision -Test 3)

MARKS SCORED BY YOU 77.00

TIME SPENT BY YOU (IN MINS) 46:25

YOUR SECTION PERCENTAGE 77.00%

YOUR SECTION ACCURACY 77.00%

TOTAL QUESTIONS 100

MAX NO OF QUESTIONS - TO ATTEMPT 100

QUESTIONS ATTEMPTED 100

MARKED FOR REVIEW 0

MARKS SCORED BY YOU MARKS SCORED BY YOU 77.00

YOUR SECTION PERCENTAGE YOUR OVERALL 77.00%

YOUR SECTION ACCURACY YOUR OVERALL 77.00%

TOTAL QUESTIONS TOTAL QUESTIONS 100

MAX NO OF QUESTIONS - TO ATTEMPT MAX NO OF QUESTIONS - 100

QUESTIONS ATTEMPTED QUESTIONS ATTEMPTED 100

MARKED FOR REVIEW MARKED FOR REVIEW 0

Below pie-chart shows section-wise percentage of marks scored

NISM VI Revision -Test 3, 77

NISM VI Revision -Test 3

SECTION (GROUP) NISM VI Revision -Test 3(grp1)

NUMBER OF INCORRECT RESPONSES 23

MARKS LOST DUE TO INCORRECT 0

TOTAL SCORE IF INCORRECT RESPONSES 77

NUMBER OF INCORRECT RESPONSES 23

MARKS LOST DUE TO INCORRECT 0

TOTAL SCORE IF INCORRECT RESPONSES 77.00

Overall Preparedness Analysis

TIME SPENT (IN MINS) 46:25

OVERALL Total time spent

TOTAL TIME SPENT 46:25

Response Change Pattern

SECTION (GROUP) NISM VI Revision -Test 3 (NISM VI Revision -Test 3)

Interpretation and Suggestions

Overview: NISM VI Revision -Test 3

MARKS SCORED BY YOU 77.00 / 100.00