n NISM Certifications
VII NISM Series VII
Medium

Electronic contract notes can be issued only if ______ has preauthorized.

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

Options

  1. A

    SEBI

  2. B

    Depository

  3. C

    Client’s bank

  4. The client

    Correct answer

Why this is the answer

Electronic contract notes require prior client authorization, must be digitally signed, and compliant with IT Act 2000.

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NISM Series VII Mock Test 5