Online Access Free NISM.NISM-Series-VII.v2026-07-14.q164 Practice Test (Page 32)

NISM-Series-VII Exam Question 151

If a client submits a transfer instruction where the quantity is *less* than the net delivery obligation provided by the Clearing Corporation, what is the outcome of the validation process by the Depositories?

A.The instruction is rejected because it does not fully meet the obligation.

B.The instruction is held in abeyance until a supplementary instruction for the balance quantity is received.

C.The instruction is carried out by the depositories.

D.The instruction is processed, but a penalty is automatically levied on the client for short delivery.

E.The instruction is routed to the Clearing Member for manual approval before processing.

NISM-Series-VII Exam Question 152

Under the SEBI (Prohibition of Insider Trading) Regulations, 2015, which of the following parties is deemed to be a 'Connected Person' unless the contrary is established?

A.A former employee who left the company 12 months prior to the act.

B.A banker of the company.

C.A shareholder holding 5% interest in the company.

D.A vendor supplying office stationery on a one-off basis.

E.An individual who has never held a position in the company.

NISM-Series-VII Exam Question 153

Under the SEBI guidelines regarding the monitoring of unauthenticated news by market intermediaries, what is the mandatory protocol for an employee who receives market-related news via their personal mail or blog?

A.The employee must verify the accuracy of the news with at least two independent sources before forwarding.

B.The employee should forward the news to clients immediately with a disclaimer stating it is unverified.

C.The news should be forwarded only after the same has been seen and approved by the Compliance Officer.

D.The employee is strictly prohibited from accessing personal mail or blogs on office premises.

E.The employee must report the sender of the news to the Financial Intelligence Unit (FIIJ) within 24 hours.

NISM-Series-VII Exam Question 154

Under the Online Dispute Resolution (ODR) framework, if a Market Participant wishes to initiate dispute resolution against an investor/client through the ODR Portal, which of the following procedural pre-requisites must be strictly fulfilled?

A.The Market Participant must obtain a 'No Objection Certificate' from SEBI.

B.The Market Participant must deposit 50% of the disputed amount with the Stock Exchange.

C.The Market Participant must give due notice of at least 15 calendar days to the investor/client for resolution of the dispute.

D.The Market Participant must wait for a mandatory cooling-off period of 60 days from the date of the transaction.

E.The Market Participant can only initiate ODR if the claim value exceeds Rs. 10 Lakhs.

NISM-Series-VII Exam Question 155

Under the SCORES 2.0 framework, if a complainant is dissatisfied with the resolution provided by the entity and requests a first review, the Designated Body (DB) may seek clarification from the entity. What is the specific timeline mandated for the Designated Body to submit the revised Action Taken Report (ATR) to the complainant after seeking such clarification?

A.Within 15 calendar days of the review sought

B.Within 21 calendar days of the review sought

C.Within 10 calendar days of the review sought

D.Within 7 calendar days of the review sought

E.Within 30 calendar days of the review sought

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NISM-Series-VII Exam Question 151

NISM-Series-VII Exam Question 152

NISM-Series-VII Exam Question 153

NISM-Series-VII Exam Question 154

NISM-Series-VII Exam Question 155

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