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NISM Series VI: Depository Operations Cert. Mock Test & NISM Series VI Question Bank details
The NISM Series VI aims to establish a standardized minimum knowledge benchmark for individuals associated with or employed by a registered depository participant. This includes those involved in: (a) Client interaction and dealing, (b) Handling securities of clients, (c) Addressing investor grievances, (d) Internal control or risk management, (e) Activities impacting operational risk, and (f) Maintenance of books and records related to the specified activities.
The certification seeks to elevate the quality of services provided by Depository Participants.
Examination Objectives
Upon successful completion of the examination, candidates should:
- Possess knowledge of the basics of the Indian securities market and the depository system, including the necessity for a depository and key features of the depository system in India.
- Demonstrate understanding of the institutional structure of the depository system in India and the business partners associated with a depository.
- Understand the regulatory framework governing the functioning of depositories and their Depository Participants (DPs), including eligibility criteria, registration procedures, rights, and obligations.
- Acquire knowledge of the various functions performed by the Depository and its Depository Participants (DPs), encompassing dematerialization, trading and settlement, pledging, and hypothecation.
- Comprehend the process of opening a demat account, the necessary documents for account opening, and the significance of a Power of Attorney (POA).
Assessment Structure
The NISM Series VI exam comprises 100 questions, each carrying 1 mark, and candidates are given 2 hours for completion. To pass the examination, candidates must achieve a minimum score of 60%. Negative marking is applied at a rate of 25% of the marks assigned to each question.
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