Sample Questions

NISM-Series-3A: Securities Intermediaries Compliance (Non-Fund) Mock Tests — 5 random MCQs with answers & explanations

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These 5 questions are randomly selected (standard MCQs only, not case-based).

Q1 How long must a Research Analyst keep copies of their reports?

A. 1 year
B. 3 years
C. 5 years Correct Answer
D. 10 years

Explanation:

Analysts must keep their reports and the data they used to write them for at least five years.

Marks: 1

Q2 Under Takeover rules, how many days does a merchant banker have to send the final report to SEBI after the offer ends?

A. 7 days
B. 15 working days Correct Answer
C. 30 days
D. 45 days

Explanation:

Once a company takeover offer is finished, the banker must submit a report within 15 working days to confirm everything was done correctly.

Marks: 1

Q3 Which Indian agency is tasked with collecting and analyzing data regarding suspicious money trades?

A. Central Bureau of Investigation (CBI)
B. Reserve Bank of India (RBI)
C. Central Investigation Department
D. Financial Intelligence Unit (FIU-IND) Correct Answer

Explanation:

The FIU-IND was created by the government in 2004 specifically to receive and study information about transactions that look like they might be illegal or suspicious.

Marks: 1

Q4 Can a regular civil court decide on matters that the SAT is supposed to handle?

A. Yes, always
B. No, civil courts are barred from these matters Correct Answer
C. Yes, if the amount is small
D. Only with SEBI's permission

Explanation:

To avoid confusion and ensure expert handling, regular civil courts are legally stopped from taking cases that the SAT is authorized to decide.

Marks: 1

Q5 What must a Depository Participant (DP) do regarding their internal accounting systems?

A. Monitor them
B. Review them
C. Evaluate them
D. All of the above Correct Answer

Explanation:

To keep things running correctly and prevent errors, DPs must constantly check, review, and evaluate their own internal money records.

Marks: 1

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