n NISM Certifications
VII NISM Series VII
Medium

After an arbitral award requiring payment by a market participant, the payment must be made within ______ from the date of the award.

Practice question from NISM Series VII Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    30 calendar days

  2. 15 calendar days

    Correct answer

  3. C

    45 calendar days

  4. D

    7 calendar days

Why this is the answer

Payments or required performance under an arbitral award must be completed within 15 calendar days from the award date unless the award specifies an earlier timeline.

Test yourself for real

Take a full NISM Series VII mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.