NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)
A BO who has lost his DIS booklet approaches the DP. What should the DP do?
The DP should take a written intimation from the BO about the lost booklet, block the missing slip numbers so no instruction can be processed on them, and then issue a new booklet following its standard procedure.
- AContinue accepting instructions on photocopies of old slips
- BTake a written intimation of the loss, stop the lost slips from being used, and issue a fresh booklet after due processCorrect
- CClose the demat account immediately
- DAsk the broker to issue transfer instructions on behalf of the BO
Explanation
On loss of a DIS, the BO should inform the DP in writing; the DP marks the lost slip numbers as stopped so they cannot be processed, then issues a new booklet. Accepting old slips or closing the account is incorrect.
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.
More Investor Services (NISM VI) questions
- A BO has submitted a request to close his demat account, which still holds 50 shares of a listed company. Which is the correct position?
- A client, Ms. Nair, receives a bonus issue on shares held in her demat account. Which statement correctly describes how the DP handles the e…
- Mr. Iyer, a BO, complains to his DP that a corporate action credit of bonus shares has not appeared in his demat account. What should the DP…
- A beneficial owner (BO) is unhappy with the service of his Depository Participant (DP) and wants to complain. Which is the correct first ste…
- A beneficial owner (BO) wants to receive a statement of all transactions in her demat account for a period, in addition to the periodic stat…
- Arjun, the sole holder of a demat account, wants his DP to freeze the account because he will be travelling and wishes to prevent any debits…