n NISM Certifications
VII NISM Series VII
Medium

The stock broker shall transfer the funds/securities lying in credit of the client within _____ working day(s) if lying with him and within _____ working days if lying with the Clearing Member/Clearing Corporation.

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

Options

  1. A

    Two, Three

  2. One, Three

    Correct answer

  3. C

    Three, Four

  4. D

    Two, Four

Why this is the answer

As per SEBI norms, brokers must transfer funds/securities within 1 working day if they hold them, and within 3 working days if held by the clearing member or clearing corporation.

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