n NISM Certifications
VII NISM Series VII
Medium

A broker must complete the pay-in of funds before the deadline set by the _________.

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Clearing Bank

  2. B

    Custodian

  3. C

    Depository Participant

  4. Clearing Corporation

    Correct answer

Why this is the answer

The Clearing Corporation determines pay-in deadlines for brokers to ensure timely settlement. Brokers must ensure funds are available in their clearing bank accounts before this deadline.

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