n NISM Certifications
VII NISM Series VII
Medium

While settling accounts, the broker must send the client a ______ containing an extract from the client ledger for funds.

Practice question from NISM Series VII Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Demat Holding Statement

  2. Statement of Accounts

    Correct answer

  3. C

    Last five years Debits and Credits statement

  4. D

    All of the above

Why this is the answer

Brokers must send a ‘Statement of Accounts’ showing fund and securities transactions unless the client authorizes maintaining a running account.

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NISM Series VII Mock Test 5