n NISM Certifications
VII NISM Series VII
Medium

The exchange may levy a penal interest of not less than ____ percent per day on a member's pay-in shortage.

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

Options

  1. A

    0.03

  2. B

    0.05

  3. 0.07

    Correct answer

  4. D

    0.10

Why this is the answer

The exchange or clearing corporation can charge a minimum of 0.07% per day for pay-in shortages by members.

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