Q1 An application for arbitration can be filed within ____ from the date of dispute [ 1 Mark ] (a) 45 days (b)

3 months (c) 1 year (d) 6 months (e) I am not attempting this question Q2 Which of the following is FALSE about trade cancellation in the NEAT system? [ 1 Mark ] (a) The counterparty to the trade makes similar request on the same trading day. (b) Identity of the users are disclosed to keep transparency. (c) The user can use trade cancellation screen for cancelling trades done during the day. (d) The user can request for trade cancellation from the previous trades screen. (e) I am not attempting this question Q3 Which is the settlement system followed by NSCCL with effect from April 1, 2003? [ 2 Marks ] (a) Daily Settlement (b) T+2 rolling settlement (c) Account Period Settlement (d) T+3 rolling settlement. (e) I am not attempting this question Q4 Which of the following statement/s is TRUE on the NEAT system? (A) Disclosed quantity orders cannot be modified to such a quantity where the disclosed quantity is greater than the order quantity. (B) Except for the Limited Physical market, a user cannot modify an order to a quantity less than the specified Regular Lot and multiples of Regular Lot. (C) Orders cannot be modified to a quantity greater than the issued capital for the security. [ 2 Marks ] (a) Only statements (A) and (C) (b) Only statements (B) and (C)

(c) Statements (A), (B) and (C) (d) Only statement (C) (e) I am not attempting this question Q5 Which of the following functions a branch manager can perform on the NEAT system [ 2 Marks ] (a) The branch manager can receive the End of Day reports for the trading firm. (b) The branch manager can view and perform order and trade related activities for the trading firm. (c) The branch manager can view and perform order and trade related activities and receive the End of Day reports for all dealers under that branch. (d) The branch manager can receive the End of Day reports of all the branches of the trading firm. (e) I am not attempting this question Q6 The daily margin in T+2 rolling settlement comprises of ___________. [ 2 Marks ] (a) Mark to Market Margin and Gross Exposure Margin (b) Mark to Market Margin, Gross Exposure Margin and Value at Risk-based Margin (c) Mark to Market Margin and Value at Risk-based Margin (d) Gross Exposure Margin and Value at Risk-based Margin (e) I am not attempting this question Q7 Which of the following statement/s is TRUE on the NEAT system? (A) Circulars, as and when issued by NSEIL, are available to members on the intranet in their respective trading member directory identified by their trading member id. (B) A message is flashed on the NEAT screen when the circular is downloaded. (C) The circular file is ********.wri where ******** indicates the department and Circular No. [ 2 Marks ] (a) Only statements (B) and (C) (b) Only statements (A) and (B) (c) Statements (A), (B) and (C) (d) Only statements (A) and (C) (e) I am not attempting this question

Q8 Which of the following is not true about Mark to Market Margin? [ 2 Marks ] (a) Mark to market margin is computed on the basis of mark to market loss of a member. (b) Mark to market margin is calculated by marking each transaction in a scrip to the closing price of the scrip at the end of trading (c) Mark to market profit/loss across different securities within the same settlement is set off to determine the mark to market loss for a settlement. (d) Mark to market loss is the notional loss which the member would incur in case the cumulative gross outstanding position of the member in some securities were closed out at the closing price of the securities (e) I am not attempting this question Q9 Auction is held in PQR for 10,000 shares. The closing price of PQR on that day was Rs.149.00 The last traded price of PQR on that day was Rs.144.0 The close price of PQR last Friday was Rs.145.00 The previous day's close price of PQR was Rs.154.00 What is the maximum allowable price at which the member can put a sell order in the auction for PQR? (Assume Price Band applicable for Auction market is +/-20%) [ 3 Marks ] (a) Rs. 184.8 (b) Rs. 180.35 (c) Rs. 154 (d) Rs. 144 (e) I am not attempting this question Q10 A trading member on the NSE, has a branch order value of Rs. 750 lakh for his Mumbai branch and Rs. 600 lakh for Delhi branch. Mumbai branch has two users 'X' and 'Y' with user order value limits of Rs. 200 lakh and Rs. 200 lakh respectively. Delhi branch has one user 'Z' with user order value limit of Rs. 450 lakh. The member applies for a new user at Mumbai. What is the maximum user order value that can be set for the new user? [ 3 Marks ] (a) Rs. 500 lakh (b) Any amount, as there is no restriction on User Order Value (c) Rs. 350 lakh (d) Rs. 150 lakh

(e) I am not attempting this question Q11 A client shall make payment for securities purchased to the trading member _______. [ 2 Marks ] (a) on receipt of the securities (b) Any amount, as there is no restriction on User Order Value (c) before the funds pay-in day (d) within 24 hours of sale (e) I am not attempting this question Q12 Which of the following is NOT a derivative traded on Indian Stock Market? [ 1 Mark ] (a) Index Options (b) Stock Futures (c) Index Futures (d) Forward Rate Agreements (e) I am not attempting this question Q13 Contract note is signed by the _______. [ 1 Mark ] (a) dealer (b) dominant promoters (c) directors (d) authorised signatory (e) I am not attempting this question Q14 Which of the following is FALSE about auctions in the NEAT system? (a) All auction orders are entered into the auction order book. (b) Auction order matching takes place at the end of the solicitor period for the auction. (c) Auction matching takes place only across orders belonging to the same auction. (d) All auction trades take place at the last traded price for that day in the [ 2 Marks ]

regular lot book in the

normal market

(e) I am not attempting this question Q15 In which book type on the NEAT system, does the user enter Limited Physical orders? [ 1 Mark ] (a) SL (b) RL (c) OL (d) SP (e) I am not attempting this question Q16 Which of the following statements is FALSE about the NEAT system? [ 1 Mark ] (a) The order/trade slips are Confirmation/Modification/Cancellation/Rejection slips. (b) Members can take print of confirmation slips at the end of the day from the reprint option in the supplementary menu (c) Margin report is generated on-line. (d) The trade and order slips are generated on-line. (e) I am not attempting this question Q17 If a client buys shares worth Rs. 1,25,000 and sells shares worth Rs. 75,000 through a sub-broker, then the maximum brokerage payable to him is ___. [ 2 Marks ] (a) Rs. 24,000 (b) Rs. 16,000 (c) Rs. 3,000 (d) Rs. 20,000 (e) I am not attempting this question Q18 A trading member submits ____________ to the stock exchange on an annual basis. (A) audited financial statements (B) networth certificate (C) proof of renewal of insurance cover [ 2 Marks ] (a) (A), (B) and (C)

(b) (A) and (C) only (c) (B) and (C) only (d) (A) only (e) I am not attempting this question Q19 Is it compulsory for a trading member to maintain a separate bank account for the Clients? [ 2 Marks ] (a) Yes, only if his clients request for opening a bank account (b) No (c) Yes, only if his clients are not his relatives (d) Yes (e) I am not attempting this question Q20 A copy of an advertisement has to be submitted by a trading member to NSE __________. [ 1 Mark ] (a) for record (b) for information (c) after its issue in publication/media (d) for prior approval before its issue in publication/media (e) I am not attempting this question Q21 A portfolio contains securities with the expected return as follows:Security Probability Return A 40 30 B 20 30 C 40 50 What will be the expected return of the portfolio? [ 1 Mark ] (a) 2.1 (b) 46 (c) 38 (d) 3,150

(e) I am not attempting this question Q22 A settlement system has ________. (A) counterparty risk (B) systems risk (C) liquidity risk [ 2 Marks ] (a) (B) and (C) (b) (A) and (B) (c) only (C) (d) (A) and (C) (e) I am not attempting this question Q23 What does 'OM' indicate as an activity in the 'Activity Log' screen in the NEAT system? [ 1 Mark ] (a) Order Modified (b) Trade Cancelled (c) Trade Modified (d) Order Cancelled (e) I am not attempting this question Q24 NSE's Certification in Financial Markets does NOT allow flexibility in terms of ______. [ 1 Mark ] (a) candidate's presence (b) test date (c) testing centre (d) test time (e) I am not attempting this question Q25 How many depositories are there in India? [ 1 Mark ] (a) 2 (b) 3 (c) 0

(d) 1 (e) I am not attempting this question Q26 In the event of the user forgetting his password on the NEAT system, the trading member is required to _______. [ 1 Mark ] (a) reset the password and inform the exchange (b) login with a password of another user of the same trading member (c) login with the default password and enter a new password (d) inform the Exchange in writing to reset the password (e) I am not attempting this question Q27 Register of transactions (Sauda Book) shall be preserved for a period of _____ years by the stock broker as per the Securities Contracts (Regulation) Rules, 1957 [ 2 Marks ] (a) 7 (b) 5 (c) 10 (d) 6 (e) I am not attempting this question Q28 The members/custodians make available the required securities in their ____________ with Depository Participants by the prescribed pay-in time for securities. [ 2 Marks ] (a) Client Account (b) Receipt Account (c) Delivery Account (d) Pool Account (e) I am not attempting this question Q29 What is the maximum number of depository accounts that can be opened by an investor? [ 1 Mark ] (a) Only one account with a particular depository participant (b) One account only

(c) There is no restriction on the number of accounts an investor can open (d) It depends on his Net Worth (e) I am not attempting this question Q30 VaR margin is charged at differential rate on the ____________ position of the client. [ 2 Marks ] (a) Gross outstanding sale. (b) Net sale (c) Net outstanding sale. (d) Gross sale. (e) I am not attempting this question Q31 Which of the following statements is TRUE? [ 1 Mark ] (a) The reliance on public issues has increased in the recent past. (b) Private placement is costly and time consuming. (c) Public issues is a preferred means of raising resources in the corporate sector. (d) The amount raised through private placements far exceeds that raised through public issues. (e) I am not attempting this question Q32 A registered sub-broker, holding registration granted by SEBI on the recommendation of a trading member, can transact through ____________ [ 1 Mark ] (a) a stock exchange directly (b) any member broker of a stock exchange (c) the member broker who had recommended his application for registration (d) any member broker of any stock exchange (e) I am not attempting this question Q33 ______ or a corporate can become member of an exchange [ 1 Mark ] (a) An individual, a partnership firm (b) Hindu Undivided Family

(c) An individual, a partnership firm, Hindu Undivided Family (d) An individual, Hindu Undivided Family (e) I am not attempting this question Q34 NSCCL uses services of _________ to transfer demat securities [ 1 Mark ] (a) depositories (b) clearing Banks (c) share transfer agents (d) custodians (e) I am not attempting this question Q35 A sub-broker can have a maximum of ___ clients. [ 1 Mark ] (a) 500 (b) 50 (c) unlimited (d) 100 (e) I am not attempting this question Q36 The amount in unpaid dividend accounts of companies shall be transferred to the: ____. [ 2 Marks ] (a) Dividend Equalisation Reserve (b) Investor Education and Protection Fund (c) Investor Protection Fund (d) General Revenue Account of the Central Government (e) I am not attempting this question Q37 Which is the principal Act that governs the trading in securities market in India? [ 2 Marks ] (a) Companies Act, 1956 (b) Securities Contracts (Regulation) Act, 1956 (c) SEBI Act, 1992

(d) Depositories Act, 1996 (e) I am not attempting this question Q38 Penalty points are charged to members for ______________. [ 2 Marks ] (a) only for violation in respect of client code modifications. (b) only for violation in respect of non-confirmation of custodial trades. (c) only for gross exposure and turnover violations. (d) All of the above (e) I am not attempting this question Q39 Members can submit which of the following as additional base capital to NSCCL. [ 2 Marks ] (a) Cash. (b) Bank Guarantee (c) Fixed Deposit Receipts (d) All of the above (e) I am not attempting this question Q40 A trading member on the NSE, has set the branch order value unlimited for his Chennai branch and Rs. 950 lakh for Kolkata branch. Chennai branch has two users 'X' and 'Y' with user order limits of Rs. 250 lakh and Rs. 300 lakh respectively. Kolkata branch has one user 'Z' with user order value limit of Rs. 350 lakh. The member applies for a new user at Kolkata. What is the maximum user order value that can be set for the new user? [ 3 Marks ] (a) Not more than Rs. 950 lakh (b) Zero (c) unlimited (d) Rs. 600 lakh (e) I am not attempting this question Q41 What is the minimum networth for a corporate member in Capital Market and F&O segments of NSEIL? [ 2 Marks ] (a) Rs. 5 lakh

(b) Rs. 200 lakh (c) Rs. 10 lakh (d) Rs. 100 lakh (e) I am not attempting this question Q42 Penalties are charged to members for _____________ [ 3 Marks ] (a) having more than 1000 clients (b) Gross Exposure & Turnover Violations (c) doing excessive trading (d) having more than 500 branches (e) I am not attempting this question Q43 Rahul is supposed to receive Rs. 90,000 from Chandra after 3 years. If the interest rate is 8%, what is the present value of the amount due from Chandra? [ 2 Marks ] (a) 81,444.9 (b) 71,444.9 (c) 86,444.9 (d) 91,444.9 (e) I am not attempting this question Q44 Which of the following statement/s is TRUE about trade cancellation in the NEAT system? (A) The trade cancellation request is sent to the Exchange for approval and message to that effect is displayed in the message window. (B) When a request for the trade cancellation is approved by the Exchange, the parties to trade receive a system message confirming the trade cancellation and the trade cancellation slip is printed at their respective trader workstations. (C) If the Exchange rejects the trade cancellation request, the trade cancellation rejection slip is printed at their respective trader workstations. [ 2 Marks ] (a) Only statements (A) and (C) (b) Only statement (C) (c) Only statements (B) and (C) (d) Statements (A), (B) and (C) (e) I am not attempting this question

Q45 Which of the following obligation reports are NOT generated by the clearing software? [ 1 Mark ] (a) Daily Obligation Statement (b) Final Settlement Obligations Statement (c) Margin Report (d) Daily Obligation Statement of Custodial Trades (e) I am not attempting this question Q46 What can the corporate manager view in the 'Activity Log' screen in the NEAT system? [ 2 Marks ] (a) He can view all activities that have been performed on any order for own User Id only. (b) He can view all the activities that have been performed on any order or all orders under all branches or for a specific branch and for a specific dealer or for all dealers. (c) He has no access to the 'Activity Log' screen. (d) He can view all activities that have been performed on any order of the whole market. (e) I am not attempting this question Q47 What does 'LIS' indicate as a message code in 'Full Message window' in the NEAT system? [ 1 Mark ] (a) All listing related messages (b) There is no such message code as 'LIS' in the Full Message Window (c) All messages related to suspension for trading of listed securities only (d) All messages related to newly listed securities only (e) I am not attempting this question Q48 A person can become a member of __ recognised Stock Exchanges. [ 1 Mark ] (a) 15 (b) any number of (c) 10 (d) only one

(e) I am not attempting this question Q49 In the demat environment, the securities are transferred from one account to another through book entry only on the instructions of the _______. [ 1 Mark ] (a) beneficial owner (b) company concerned (c) stock exchange concerned (d) depository (e) I am not attempting this question Q50 NSCCL pays-out demat securities to the members in the __________ from where these are transferred to the ____________ of the members. [ 2 Marks ] (a) Clients Account, Pool Account (b) Pool Account, Clients Account (c) Delivery Account, Pool Account (d) Receipt Account, Delivery Account (e) I am not attempting this question Q51 The maximum amount of claim payable from the IPF to the investor (where the trading member through whom the investor has dealt is declared a defaulter) is ________. [ 1 Mark ] (a) Rs. 7 lakh (b) Rs. 11 lakh (c) Rs. 17 lakh (d) Rs. 1 lakh (e) I am not attempting this question Q52 If a client buys shares worth Rs. 90,000 and sells shares worth Rs. 1,10,000 through a stock-broker, then the maximum brokerage payable is _____. [ 3 Marks ] (a) Rs. 4,000 (b) Rs. 5,000 (c) Rs. 2,000

(d) Rs. 6,000 (e) I am not attempting this question Q53 Which of the following does NOT issue securities in the primary market? [ 1 Mark ] (a) Government of India (b) Stock Exchanges (c) Companies (d) Financial Institutions (e) I am not attempting this question Q54 As per the provisions of SEBI (Prohibition of Insider Trading) regulations, any person who holds more than _____________ shares or voting rights in any listed company shall make such disclosure to the company. [ 2 Marks ] (a) 2% (b) 10% (c) 5% (d) 3% (e) I am not attempting this question Q55 Which address of the Corporate trading member is printed on the contract note? (A) Registered office address (B) Dealing office address (C) Correspondence address [ 2 Marks ] (a) (C) (b) (B) and (C) (c) (A) and (C) (d) (A) and (B) (e) I am not attempting this question Q56 Mr. Desai has decided to deposit Rs. 100,000 in the bank annually. If the bank has a policy of continuous compounding and the prevailing interest rate is 11.5% how much would his deposit grow upto in 2 years? [ 2 Marks ] (a) 166,141.11

(b) 171,507.54 (c) 185,570.7 (d) 224,871.26 (e) I am not attempting this question Q57 A maximum penalty of Rs. _______ can be imposed for insider trading, as prescribed under SEBI Act, 1992. [ 2 Marks ] (a) 5 lakh (b) 50,000 (c) 3 lakh (d) 1 lakh (e) I am not attempting this question Q58 What does 'P' indicate as a status in the 'Auction Inquiry' screen in the NEAT system? [ 1 Mark ] (a) Auction is pending and yet to begin. (b) Auction is deleted. (c) There is no such status indicator as 'P' in the Auction Inquiry screen. (d) Auction is over. (e) I am not attempting this question Q59 Every stock broker shall preserve the books of accounts and other records prescribed under the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 for a minimum period of _______ years. [ 2 Marks ] (a) 7 (b) 3 (c) 5 (d) 2 (e) I am not attempting this question

Q60 Which of the following is/are TRUE about the ticker in the NEAT system? (A) The user has the option of selecting the securities that should appear in the ticker. (B) When a request for the trade cancellation is approved by the Exchange, the parties to trade receive a system message confirming the trade cancellation and the trade cancellation slip is printed at their respective trader workstations. (C) The ticker displays information about any trade in the system as and when it takes place. [ 2 Marks ] (a) Only statements (B) and (C) (b) Statements (A), (B) and (C) (c) Only statement (C) (d) Only statements (A) and (C) (e) I am not attempting this question

Q:1 A trading member shall be deemed guilty of misconduct if he fails to _______ [ 1 Mark ] (a) submit its audited accounts to the Exchange (b) pay its subscription, fees, arbitration charges or any other money which may be due to the exchange (c) to submit or makes any false or misleading statement in its clearing forms (d) All of the above Q:2 The Message Window in the NEAT system allows a user to view messages broadcast by the Exchange such as, __________ [1 Mark ] (a) corporate actions (b) market news (c) auctions related information (d) All of the above Q:3 100 share of Reliance Ltd. are purchased on Monday. Provided there are no holidays in between, settlement should take place on ______ ? [ 2 Marks ] (a) Wednesday (T+2) (b) Tuesday (T+1) (c) Thursday (T+3) (d) Friday (T+4) Q:4. ______ is a volume related order condition. [ 2 Marks ] (a) An order with a limit price condition only (b) An order with a stop loss only (c) An order with a Disclosed Quantity (DQ) (d) None of the above Q:5 The branch manager receives End of Day reports for _________. [ 2 Marks ] (a) his own orders only (b) all dealers under the trading member (c) all the dealers under that branch (d) any authorized user

Q:6 The following facility allows the user to have a drop down list of client codes at the account field: [ 2 Marks ] (a) Client List Master (b) Client Database Master (c) Client Code Master (d) Client Master Maintenance Q:7 When the user invokes the order entry screen, the field(s) that are (is) taken as default are (is) __________. [ 2 Marks ] (a) Symbol (b) Series (c) Book Type (d) All of the above Q:8 In case the security has not been traded on a particular day, ________ at the NSE is to be considered as the closing price.? [ 2 Marks ] (a) the average closing price for the last one week (b) the theoretical closing price (c) the latest available closing price (d) none of the above Q:9 Auction is held in PQR for 10,000 shares. The closing price of PQR on that day was Rs.259.00 The last traded price of PQR on that day was Rs.254.0 The close price of PQR last Friday was Rs.255.00 The previous day's close price of PQR was Rs.264.00 What is the maximum allowable price at which the member can put a sell order in the auction for PQR? (Assume Price Band applicable for Auction market is +/ 20%) [ 3 Marks ] (a) Rs. 316.80 (b) Rs. 390.65 (c) Rs. 364 (d) Rs. 394 Q:10 A trading member on the NSE, has a branch order value of Rs. 950 lakh for his Mumbai branch and Rs. 600 lakh for Delhi branch. Mumbai branch has two

users 'X' and 'Y' with user order value limits of Rs. 300 lakh and Rs. 400 lakh respectively. Delhi branch has one user 'Z' with user order value limit of Rs. 550 lakh. The member applies for a new user at Mumbai. What is the maximum user order value that can be set for the new user? [ 3 Marks ] (a) Rs. 100 lakh (b) Any amount, as there is no restriction on User Order Value (c) Rs. 250 lakh (d) Rs. 150 lakh Q:11 Securities and funds pay out takes place on ______ working days after the trade date. [ 2 Marks ] (a) T+3 (b) T+1 (c) T+2 (d) within 24 hours of sale Q:12 NSE has implemented ______________ in compulsory rolling settlement with effect from July 02, 2001. [ 1 Mark ] (a) securities-based market-wide circuit breakers (b) index-based market-wide circuit breakers (c) market-wide based securities-wise circuit breakers (d) none of the above Q:13 The c lients introduced by an authorised person to a trading member, would be required to deliver securities and make payments directly in the trade name of the trading member. True or False? [ 1 Mark ] (a) True (b) False Q:14 Security wise User Order Quantity Limit (SUOQL) can be modified anytime during trading hours. True or False? [ 2 Marks ] (a) True (b) False Q:15 ______ can be traded in the Limited Physical Market? [ 1 Mark ] (a) Illiquid shares (b) Futures and Options (c) Odd lots (d) Government Securities

Q:16 Securities Delivered Statement: This statement provides information on ______? [ 1 Mark ] (a) delivering centre (b) total number of shares to deliver for each security (c) quantity delivered and quantity of shares delivered short (d) all of the above Q:17 If a client buys shares worth Rs. 5,25,000 and sells shares worth Rs. 4,75,000 through a broker, then the maximum brokerage payable to broker is ___. [ 2 Marks ] (a) Rs. 25,000 (b) Rs. 15,000 (c) Rs. 10,000 (d) Rs. 20,000 Q:18 An advertisement released by a trading member can contain a recommendation regarding purchase or sale of any particular share or security of any company. True or False? [ 2 Marks ] (a) True (b) False Q:19 No payment for transaction in which a Trading Member is taking position as a principal will be allowed to be made from the clients account? [ 2 Marks ] (a) True, unless his clients approves the payment (b) True (c) True, only if his clients are making payments on time (d) False

Q:20 The Trading Members shall keep the dematerialised securities of Constituents in a separate beneficiary account distinct from the beneficiary account maintained for holding their own dematerialised securities. True or False? [ 1 Mark ] (a) True (b) False Q:21 A portfolio contains securities with the expected return as follows:Security Probability Return

A 30 10 B 40 12 C 30 15 What will be the expected return of the portfolio? [ 1 Mark ] (a) 12.80 (b) 23 (c) 12.30 (d) 14.70 Q:22 ___________ assumes the counter party risk of each member and guarantees financial settlement. [ 2 Marks ] (a) SEBI (b) Central Depository Services Ltd. (CDSL) (c) The National Depository Services Ltd. (NSDL) (d) The National Securities Clearing Corporation Ltd. (NSCCL) Q:23 What does 'OM' indicate as an activity in the 'Activity Log' screen in the NEAT system? [1 Mark ] (a) Order Matched (b) Order Cancelled (c) Trade Modified (d) Order Modified Q:24 One of the requirements for admission to membership on the NSE is to pass an on-line examination under NSEs Certification in Financial Markets (NCFM). [ 1 Mark ] (a) True (b) False Q:25 Where a recognised stock exchange acting in pursuance of any power given to it by its bye-laws, refuses to list the securities of any company, the company shall be entitled to be furnished with reasons for such refusal and the company may appeal to the _________ against such refusal. [ 1 Mark ] (a) SEBI (b) recognized stock exchange (c) Securities Appellate Tribunal (SAT) (d) High Court Q:26 Surveillance and Control (SURCON) is that period after market close during

which, the users have _______ only. [ 1 Mark ] (a) order entry access (b) trade cancellation access (c) trade modification access (d) inquiry access Q:27 A stock-broker shall not encourage sales or purchases of securities with the sole object of generating brokerage or commission. Is the above statement True or False, under the Code of Conduct Guidelines prescribed under SEBI (Stock Brokers & Sub-brokers) Regulations, 1992. [ 2 Marks ] (a) True (b) False Q:28 At the end of the trade cycle, the trades are _______ to determine the obligations of the trading members to deliver securities/funds as per settlement schedule. [ 2 Marks ] (a) grossed (b) aggregated (c) netted (d) offset Q:29 The NSCCL interposes itself as a central counterparty between the counterparties to trades and nets the positions so that a member has security wise net obligation to receive or deliver a security and has to either pay or receive funds. True or False? [ 1 Mark ] (a) True (b) False Q:30 For liquid securities, the VaR margins are based on the ________ of the Security. [ 2 Marks ] (a) volatility (b) returns (c) liquidity (d) exposure limit Q:31 The stamp duty on transfer of demat securities has been waived. True or False? [ 1 Mark ] (a) True (b) False

Q:32 No person shall be admitted as trading member of a recognized stock exc hange if he has been adjudged bankrupt or a receiver order in bankruptcy has been made against him or he has been proved to be insolvent even though he has obtained his final discharge. True or False? [ 1 Mark] (a) True (b) False Q:33 The stop loss orders are prioritised in the stop loss book with the __________________ [ 1 Mark ] (a) most likely order to trigger first and the least likely to trigger last. (b) least likely order to trigger first and the most likely to trigger last. (c) time-price priority algorithm (d) none of the above Q:34 The orders with ______ attribute disclose only a part of the total order quantity to the market. [ 1 Mark ] (a) Immediate or Cancel (IOC) (b) Stop Loss (SL) (c) Disclosed Quantity (DQ) (d) none of the above Q:35 Two buy orders enter into the system and are unmatched : 1) 200 shares @ Rs. 72.75 at time 10:30 a.m. 2) 300 shares @ Rs. 72.75 at time 10:31 a.m. Which order will get a priority for getting executed. [ 1 Mark ] (a) Order no. 1. (b) Order no. 2 (c) both will have equal priority (d) none Q:36 Statement 1 : An active buy order matches with the best passive sell order if the price of the passive sell order is less than or equal to the price of the active buy order. Statement 2 : An passive buy order matches with the best active sell order if the price of the passive buy order is less than or equal to the price of the active sell order. Which of the above statements is True? [ 2 Marks ]

(a) Statement 2 (b) Statement 1 (c) Both statements are true (d) Both statements are false Q:37 The pre-set Market price protection percentage is by default set to _____ of the LTP. [ 2 Marks ] (a) 10% (b) 2% (c) 3% (d) 5% Q:38 A user can simultaneously view a regular inquiry (e.g. MBP) and the Snap Quote display on the trading screen. True or False? [ 2 Marks ] (a) True (b) False Q:39 Fixed Deposit Receipts (FDRs) issued by approved banks can be submitted as a(n) ___________ to NSCCL by trading members. [ 2 Marks ] (a) surety. (b) indemnity (c) warranty (d) additional base capital Q:40 A trading member on the NSE, has set the branch order value unlimited for his Chennai branch and Rs. 800 lakh for Kolkata branch. Chennai branch has two users 'X' and 'Y' with user order limits of Rs. 550 lakh and Rs. 500 lakh respectively. Kolkata branch has one user 'Z' with user order value limit of Rs. 550 lakh. The member applies for a new user at Kolkata. What is the maximum user order value that can be set for the new user? [ 3 Marks ] (a) Not more than Rs. 950 lakh (b) Zero (c) unlimited (d) Rs. 250 lakh Q:41 Upfront margin rates applicable for all securities in Trade for Trade - segment (TT) is ______. [ 2 Marks ] (a) 50% (b) 100 %

(c) 200% (d) 150% Q:42 Penalties are charged to members for _____________ [ 3 Marks ] (a) failure to fulfil their funds obligations (b) failure to fulfil their securities deliverable obligations (c) Margin Shortages (d) all of the above Q:43 Rahul is supposed to receive Rs. 1,00,000 from Chandra after 3 years. If the interest rate is 8%, what is the present value of the amount due from Chandra? [ 2 Marks ] (a) 71,686.34 (b) 79,383.22 (c) 81,232.25 (d) 91,444.9 Q:44 Institutional transactions are identified by the use of the ________ at the time of order entry. [2 Marks ] (a) user code (b) user id (c) participant code (d) client id Q:45 Two sell orders enter into the system and are unmatched : 1) 200 shares @ Rs. 72.75 at time 10:30 a.m. 2) 300 shares @ Rs. 72.70 at time 10:31 a.m. Which order will get a priority for getting executed. [ 1 Mark ] (a) Order no. 1. (b) Order no. 2 (c) both will have equal priority (d) none Q:46 In NSCCL, a _______ is a clearing member but not a trading member. [ 2 Marks ] (a) self clearing member (b) participant (c) broker (d) custodian

Q:47 What does AUI indicate as a message code in 'Full Message window' in the NEAT system? [ 1 Mark ] (a) Auction Initiation Messages (b) Auction User Interface messages (c) All messages related to user interface (d) All messages related to Auctions Q:48 Two buy orders enter into the system and are unmatched : 1) 200 shares @ Rs. 72.75 at time 10:30 a.m. 2) 300 shares @ Rs. 72.80 at time 10:31 a.m. Which order will get a priority for getting executed. [ 1 Mark ] (a) Order no. 1. (b) Order no. 2 (c) both will have equal priority (d) none Q:49 NSCCL becomes the legal counterparty to the net settlement obligations of every member. This principle is called ______. [ 1 Mark ] (a) notation (b) settlement fullfillment (c) novation' (d) obligation guarantee Q:50 The trading members can participate in the Exchange initiated auctions by entering orders as a ______. [ 2 Marks ] (a) participant (b) initiator (c) solicitor (d) none of the above Q:51 One of the Custodial Trade Reports is the ___________ [ 1 Mark ] (a) Client Obligation Report (b) Custodial Trade Pending Confirmation (c) Clearing Member Report (d) None of the above Q:52 If a client buys shares worth Rs. 1,00,000 and sells shares worth Rs. 1,00,000 through a stock-broker, then the maximum brokerage payable is _______. [ 3 Marks ]

(a) Rs. 4,000 (b) Rs. 5,000 (c) Rs. 2,000 (d) Rs. 6,000 Q:53 Which of the following do not issue securities in the primary market? [ 1 Mark ] (a) FIIs (b) State Goverments (c) Companies (d) None of the above Q:54 Auction Square Up Debit Statement: This report gives details of unauctioned deliveries that are squared-up by the Exchange. True or False? [ 2 Marks ] (a) True (b) False Q:55 A trading member shall be deemed guilty of un-businesslike conduct for any of the following or similar acts or omissions namely: [ 2 Marks ] (a) if it transacts its own business or the business of its constituent in fictitious names (b) If it makes a fictitious transaction (c) circulates or causes to be circulated, any rumours; (d) all of the above Q:56 Mr. Desai has decided to deposit Rs. 200,000 in the bank annually. If the bank has a policy of continuous compounding and the prevailing interest rate is 8% how much would his deposit grow upto in 2 years? [ 2 Marks ] (a) 434,141.15 (b) 413,502.54 (c) 485,123.70 (d) 433,820.81 Q:57 Mr. Shah has decided to deposit Rs. 300,000 in the bank annually. If the bank has a policy of continuous compounding and the prevailing interest rate is 12% how much would his deposit grow upto in 3 years? [ 2 Marks ] (a) 1,234,146.15 (b) 1,113,502.54 (c) 1,085,123.70

(d) 1,083,467.63 Q:58 What does 'P' indicate as a status in the 'Auction Inquiry' screen in the NEAT system? [ 1 Mark ] (a) Auction is pending and yet to begin. (b) Auction is deleted. (c) There is no such status indicator as 'P' in the Auction Inquiry screen. (d) Auction is over. Q:59 On Line Backup is a facility that the user can invoke to take a backup of all order and trade related information for the user. True or False. [ 2 Marks ] (a) True (b) False Q:60 Security sigma means the _______ of the security computed as at the end of the previous trading day. [ 2 Marks ] (a) mean (b) volatility (c) impact cost (d) none of the above Answers : 1 (d) 21 (c) 41 (b) 2 (d) 22 (d) 42 (d) 3 (a) 23 (d) 43 (b) 4 (c) 24 (a) 44 (c) 5 (c) 25 (c) 45 (b) 6 (d) 26 (d) 46 (d) 7 (d) 27 (a) 47 (a) 8 (c) 28 (c) 48 (b) 9 (a) 29 (a) 49 (c) 10 (c) 30 (a) 50 (c) 11 (c) 31 (a) 51 (b) 12 (b) 32 (a) 52 (b) 13 (a) 33 (a) 53 (a) 14 (a) 34 (c) 54 (a) 15 (c) 35 (a) 55 (d) 16 (d) 36 (b) 56 (d)

17 (a) 37 (d) 57 (d) 18 (b) 38 (a) 58 (a) 19 (b) 39 (d) 59 (a) 20 (a) 40 (d) 60 (b)