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

Mr. Shah gives a local cheque at 2.30 pm of Rs 30 lacs for investment in an Equity Scheme. Which will be the applicable NAV for allotment of units to Mr. Shah?

Practice question from Nism VA Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. NAV of the business day on which the funds are available for utilisation

    Correct answer

  2. B

    Closing NAV of the next business day

  3. C

    Closing NAV of day immediately preceding the date of application

  4. D

    Same day NAV if received before cut-off time

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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