n NISM Certifications
VII NISM Series VII
Medium

While settling the account of a client, the member should send a ______ containing an extract from the client ledger for funds.

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

Options

  1. A

    Statement of instruction

  2. B

    Bank account statement

  3. C

    Demat account statement

  4. Statement of accounts

    Correct answer

Why this is the answer

SEBI requires brokers to send a statement of accounts during settlement, including an extract from the client ledger for funds and securities, unless the client authorizes maintaining a running account.

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NISM Series VII Mock Test 4