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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Regulatory Framework | 15% | - Compliance requirements for intermediaries - SEBI Act, Rules and Regulations - Code of conduct and ethical practices |
| Topic 2: Trading Operations | 15% | - Order management and trade execution - Front office functions and processes - Client onboarding and KYC norms |
| Topic 3: Market Microstructure | 12% | - Price discovery and market efficiency - Market indices and their calculation - Trading mechanisms and order types |
| Topic 4: Risk Management and Margining | 18% | - Margining systems and methodologies - Risk monitoring and control measures - Types of risks in securities operations |
| Topic 5: Securities Market Overview | 10% | - Market participants and their roles - Types of securities and products - Structure and segments of Indian securities market |
| Topic 6: Technology in Securities Markets | 8% | - Data security and business continuity - Systems for trading, clearing and settlement - Emerging technologies and their impact |
| Topic 7: Investor Protection | 7% | - Mechanisms for dispute resolution - Investor education and awareness initiatives - Investor rights and grievances redressal |
| Topic 8: Clearing and Settlement | 15% | - Delivery versus payment and settlement guarantee - Clearing process and roles of clearing corporations - Settlement cycle and mechanisms |
In the context of the validation process for Pay-In of securities from a client's demat account to the Member Pool Account, how do Depositories handle a specific transfer instruction where the quantity specified in the instruction exceeds the client-wise net delivery obligation provided by the Clearing Corporation?
Correct Answer: A 🗳️
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Which of the following statements are CORRECT regarding the Settlement of Securities in the Indian Cash Market? (Select all that apply)
Correct Answer: C,D,E 🗳️
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A securities broking firm configures its Compliance Management System (CMS) to manage data retention policies in accordance with the Prevention of Money-Laundering Act (PMLA), 2002.
Review the JSON configuration snippet below regarding record retention timelines:
Based on the SEBI directives and PMLA provisions, which setting in the configuration is legally NON-COMPLIANT?
Correct Answer: D 🗳️
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Which mechanism enables the Clearing Corporation to act as a legal counterparty to all trades, thereby becoming the buyer to every seller and the seller to every buyer, to ensure settlement guarantee and manage default risks?
Correct Answer: A 🗳️
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Which of the following statements accurately describe the operational procedures and timelines within the Clearing Process of the Indian securities market (Cash Segment)? (Select all that apply)
Correct Answer: B,C,D 🗳️
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