n NISM Certifications
VII NISM Series VII
Medium

A person wants to redeem mutual fund units in depository mode but has not provided depository details. Can the request be executed?

Practice question from NISM Series VII Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Yes

  2. No

    Correct answer

Why this is the answer

For depository-mode redemptions, providing DP ID and beneficiary ID is mandatory; otherwise, the request cannot be processed.

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NISM Series VII Mock Test 2