NISM Certifications · NISM-Series-X-A: Investment Adviser (Level 1) · Grievance Redress Mechanism
An investment adviser's client complaint log shows the following for a quarter: 40 complaints received, 5 pending from the previous quarter, 33 resolved during the quarter. What is the number of complaints pending at the end of the quarter, and the resolution rate against total complaints available for resolution (to the nearest whole percent)?
Twelve complaints are pending and the resolution rate is about 73 percent. Total complaints to resolve are 40 new plus 5 opening, which is 45. Subtracting 33 resolved gives 12 pending, and 33 divided by 45 is roughly 73 percent.
- A12 pending; 73%Correct
- B7 pending; 83%
- C12 pending; 83%
- D7 pending; 73%
Explanation
Total available = 40 + 5 = 45. Pending = 45 - 33 = 12. Resolution rate = 33/45 = 73.3%, about 73%. Ignoring the opening balance gives 7 pending and 83% (33/40), which is wrong because opening pending complaints must be included.
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