Online Access Free NISM.NISM-Series-VII.v2026-07-14.q164 Practice Test (Page 5)

NISM-Series-VII Exam Question 16

Stock brokers are required to maintain evidence of clients placing orders to prevent unauthorized trades. Which of the following statements accurately describes the regulatory requirements regarding the forms of evidence and the retention period?

A.Evidence must be physical records only, retained for 5 years.

B.Evidence can be physical records, telephone recordings, emails, or SMS logs, and must be retained for a minimum of 3 years.

C.Evidence is optional for internet-based transactions and must be retained for 1 year.

D.Telephone recordings are mandatory only for institutional clients and must be kept for 2 years.

E.In case of a dispute, records can be disposed of immediately after the broker files a response.

NISM-Series-VII Exam Question 17

Which type of risk, identified in the risk management framework for stock brokers, encompasses the scenario where a disruption at a firm or settlement system causes a 'domino effect' throughout financial markets?

A.Operational Risk

B.Market Risk

C.Credit Risk

D.Systemic Risk

E.Legal Risk

NISM-Series-VII Exam Question 18

Regarding the execution of a 'Delivery Instruction Slip' (DIS) for debiting a beneficiary account in a depository, which of the following conditions is **MANDATORY** for the instruction to be processed?

A.The DIS must be signed only by the primary holder in case of joint accounts.

B.The DIS must clearly indicate whether the trade is an 'off-market' trade or a 'market' trade.

C.The execution date on the DIS cannot be a future date; it must be the same as the submission date.

D.The DIS must be physically submitted even if the client has enabled electronic DIS facilities.

E.The DIS must be counter-signed by a SEBI registered official.

NISM-Series-VII Exam Question 19

A financial services firm applies for registration as a Portfolio Manager. They nominate Mr. X as the Principal Officer. Mr. X holds a professional qualification in finance from a recognized university. Regarding his experience, which of the following conditions MUST he satisfy to meet the eligibility criteria?

A.Experience of at least 3 years in related activities in the securities market, with at least 1 year in portfolio management.

B.Experience of at least 5 years in related activities in the securities market, including at least 2 years in portfolio management or investment advisory services or fund management.

C.Experience of at least 7 years in related activities in the securities market, with no specific requirement for portfolio management experience.

D.Experience of at least 5 years strictly as a stock broker or dealer in the equity derivatives segment.

E.Experience of at least 2 years in related activities in the securities market if he holds a CFA charter.

NISM-Series-VII Exam Question 20

Regarding participation in the International Financial Services Centres (IFSC), which of the following categories of resident investors is eligible to deal in securities listed in IFSC?

A.Any resident individual irrespective of investment limit.

B.A person resident in India eligible under FEMA to invest funds offshore, to the extent allowed under the Liberalized Remittance Scheme (LRS).

C.Only resident Qualified Institutional Buyers (QIBs).

D.Only resident corporate entities with a net worth exceeding Rs. 100 Crore.

E.Residents are strictly prohibited from dealing in securities listed in IFSC.

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NISM-Series-VII Exam Question 16

NISM-Series-VII Exam Question 17

NISM-Series-VII Exam Question 18

NISM-Series-VII Exam Question 19

NISM-Series-VII Exam Question 20

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