n NISM Certifications
VII NISM Series VII
Medium

Clearing Members are required to maintain an account with a Clearing Bank. True or False?

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

Options

  1. True

    Correct answer

  2. B

    False

Why this is the answer

Each Clearing Member must maintain a bank account with a designated Clearing Bank to ensure smooth fund settlements and meet pay-in obligations on time.

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NISM Series VII Mock Test 2