n NISM Certifications
V-A NISM Series V-A
Medium

Identify which of these statement(s) is / are CORRECT. (A) When an unitholder gives a request for a Unit Certificate, it has to be issued within 5 working days (B) When an unitholder gives a repurchase request, the repurchase cheque has to be dispatched to the unitholder within 10 working days

Practice question from Nism VA Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Both of the above are correct

    Correct answer

  2. B

    None of the above

Why this is the answer

According to SEBI regulations, mutual funds are required to issue unit certificates within 5 working days of receiving a request and dispatch repurchase proceeds within 10 working days of the redemption request.

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