As per SEBI rules, the stock broker shall transfer funds/securities lying in the client’s credit within __ working day(s) if with the broker and within _ working days if with the Clearing Member/Clearing Corporation.

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

Options

1, 3

Correct answer
B

2, 5
C

3, 7
D

2, 4

Why this is the answer

Brokers must transfer client funds/securities within 1 working day if held with them and 3 working days if with Clearing Members/Clearing Corporation.

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NISM Series VII Mock Test 5

As per SEBI rules, the stock broker shall transfer funds/securities lying in the client’s credit within ______ working day(s) if with the broker and within _____ working days if with the Clearing Member/Clearing Corporation.

Options

Take a full NISM Series VII mock test.

As per SEBI rules, the stock broker shall transfer funds/securities lying in the client’s credit within __ working day(s) if with the broker and within _ working days if with the Clearing Member/Clearing Corporation.