n NISM Certifications
VII NISM Series VII
Medium

Who prescribes the manner and format of the Contract Note?

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

Options

  1. A

    Company Law Board

  2. B

    Contract Act

  3. C

    Reserve Bank of India

  4. The Exchanges

    Correct answer

Why this is the answer

A Contract Note is issued by brokers to clients in the format prescribed by the Stock Exchanges. It serves as a legal confirmation of trades executed and establishes enforceable settlement obligations.

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