n NISM Certifications
NSM General NISM
Medium

Which statement is TRUE regarding a 'Clearing Bank Account'?

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

Options

  1. A

    Used exclusively for payments with the Clearing Corporation

  2. B

    Closure requires prior permission

  3. C

    Can be debited directly by the Clearing Corporation without permission

  4. All of the above

    Correct answer

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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NISM Series I - Mock Test 4