n NISM Certifications
VII NISM Series VII
Medium

The Clearing Bank credits the settlement accounts of members maintained with the bank by ______ on the last date of the settlement period.

Practice question from NISM Series VII Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    12:30 PM

  2. 1:30 PM

    Correct answer

  3. C

    2:30 PM

  4. D

    3:15 PM

Why this is the answer

Clearing banks complete credit to members’ settlement accounts by 1:30 PM on the last day of the settlement cycle.

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