n NISM Certifications
VII NISM Series VII
Medium

The penal interest rate levied by the Exchange on trading members per day for pay-in shortages is _____

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

Options

  1. A

    Not less than 0.05% per day

  2. Not less than 0.07% per day

    Correct answer

  3. C

    Not less than 0.09% per day

  4. D

    Not less than 0.03% per day

Why this is the answer

The Exchange may levy penal interest of ≥ 0.07% per day on pay-in shortages.

Test yourself for real

Take a full NISM Series VII mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.