n NISM Certifications
VII NISM Series VII
Medium

It is the duty of the _______ to ensure sufficient funds in his clearing bank account before the Pay In.

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Depository Participant

  2. B

    Stock Exchange

  3. Clearing Members

    Correct answer

  4. D

    Clearing Corporation

Why this is the answer

Clearing members must maintain sufficient funds in the clearing bank account before Pay-In to meet obligations.

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