Skip to content

NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

A beneficiary owner (BO) wants to receive the Depository Participant's statement of transactions and holdings in a periodic manner. Under depository norms, which of the following is the DP required to provide to a BO who has had transactions in the account during the period?

The DP must give the BO transaction statements at the intervals prescribed by the depository, based on the activity in the account. This is a regulatory service obligation and does not depend on a personal request, a visit or an advance fee being paid.

  1. AA transaction statement at the intervals prescribed by the depository, free of charge on the basis of the account's activityCorrect
  2. BA statement only when the BO personally visits the DP office and requests it
  3. CA statement only once a year regardless of transactions
  4. DA statement only if the BO has paid an advance statement fee

Explanation

DPs must furnish transaction statements to BOs at prescribed intervals, depending on account activity, and a holding statement where required. It is not conditional on a personal visit or advance fee. The annual-only option ignores the periodic requirement for accounts with transactions.

Did you get it right without looking?

One question tells you little. A timed set on Investor Services (NISM VI) shows your real accuracy, how long you take and where you lose marks.

Practise Investor Services (NISM VI)Free diagnostic mock

More Investor Services (NISM VI) questions