n NISM Certifications
NSM General NISM
Medium

The Clearing Account is used exclusively for _________.

Practice question from NISM Series IV - Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    All transactions of the Clearing Members

  2. B

    Making and receiving payments with Stock Exchange

  3. C

    Making and receiving payments with SEBI

  4. Making and receiving payments with Clearing Corporation

    Correct answer

Why this is the answer

This account is maintained with a designated clearing bank and is used only for settlement of funds with the Clearing Corporation.

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