n NISM Certifications
VII NISM Series VII
Medium

An entity/broker providing depository services must register with SEBI as a _________.

Practice question from NISM Series VII Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Custodian

  2. B

    Bankers to an issue

  3. Depository participant

    Correct answer

  4. D

    Registrar and Transfer Agents

Why this is the answer

Brokers offering depository services must register as depository participants under SEBI and the Depositories Act.

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