Series VIII Equity Derivatives: exam kya hai, aur kis kram mein baanta gaya hai.

SEEMAYEIN

Practice set kya karta hai, aur kya nahi

Kya milega

• Series VIII ke practice questions deta hai, chaahe poori series ke ya ek unit ke.
• Har answer ke saath explanation kholta hai, taaki galti ki wajah saaf ho.

Kya nahi milega

• Official workbook ki jagah yeh set nahi le sakta.

Poori series ke sawaal kholo

KAISE ISTEMAL KAREIN

Pehle unit, phir poori series

Sabse kaam ka tareeka yeh hai ki ek unit padhne ke turant baad usi unit ka set kholein. Us waqt yaad taaza hoti hai aur galti seedhe us hisse par ungli rakh deti hai jo samajh nahi aaya. Poori series ka mila-jula set baad ke liye chhod dein — woh revision ka kaam karta hai, seekhne ka nahi.

Galat answer ke baad sirf sahi option dekh lena kaafi nahi hota. Ek line mein likhiye ki galti kis wajah se hui — concept adhoora tha, hisaab chhoot gaya, ya sawaal ki wording ulti samajh aayi. Yeh ek line hi batati hai ki dobara kya padhna hai.

DHYAN

Score aur readiness alag cheezein hain

Ek chhote set par achha percentage aur poore syllabus ki taiyari 2 alag baatein hain. Wahi sawaal dobara aane par score apne aap badhta hai, aur woh badhna sirf pehchaan ka hai, samajh ka nahi.

Kuch jawaab samay ke saath badal jaate hain — tax ke niyam, trading ke ghante, contract ki shartein aur regulatory seemayein. Aise sawaalon mein di gayi date dhyan se padhiye, aur aakhri tasdeeq current official workbook se hi kijiye.

Unit 1: Basics of Derivatives
Poori series ka mila-jula set revision ke liye achha hai. Pehli baar padhte waqt ek unit se shuru karna zyada kaam karta hai.

Basics of Derivatives: underlying pehle, contract baad mein.

Derivative ki apni koi value nahi hoti — woh kisi underlying se aati hai. Unit 1 yahi buniyaad rakhta hai: forward, futures, option aur swap mein farak kya hai, aur bazaar mein hedger, speculator aur arbitrageur kis wajah se aate hain.

• Derivative ki value hamesha kisi underlying se nikalti hai.
• Forward, futures, option aur swap — 4 alag dhaanche hain.
• Hedger, speculator aur arbitrageur 3 alag wajah se aate hain.
• Cash bazaar aur derivatives bazaar ek doosre ki jagah nahi lete.

SEEMAYEIN

Is set mein kya milega, aur kya nahi

Kya milega

• Sirf unit 1 ke sawaal chunta hai, taaki buniyaad par hi practice ho.
• Har answer ke baad uski wajah kholta hai, sirf sahi option nahi dikhata.

Kya nahi milega

• Official workbook ki jagah yeh set nahi le sakta.

Is unit ke sawaal kholo

IS UNIT MEIN

Value kahan se aati hai

Sabse pehli baat yahi hai ki derivative apne aap mein koi cheez nahi hai. Uski keemat kisi doosri cheez se nikalti hai — ek share, ek index, ya koi aur underlying. Isliye har sawaal ka jawab dhoondhne se pehle yeh poochhna padta hai ki underlying kya hai aur us par kya tay hua hai.

Uske baad 4 dhaanche aate hain. Forward 2 partiyon ke beech ka apna sauda hai. Futures wahi baat exchange par standard shakl mein. Option ek taraf ko haq deta hai aur doosri par zimmedari daalta hai. Swap ek dhaara ko doosri dhaara se badalne ka intezaam hai.

AKSAR CHHOOT JAATA HAI

3 alag wajah, ek hi bazaar

Exam yeh bhi poochhta hai ki bazaar mein log aate kyun hain. Hedger apne pehle se maujood khatre ko kam karne ke liye aata hai. Speculator kisi anumaan par khatra uthata hai. Arbitrageur 2 jagah ke daam ke farak par kaam karta hai. Yeh 3 ek doosre ke bina bazaar chalta nahi.

Yeh hissa aasan lagta hai, isliye tez padha jaata hai. Lekin baad ke units mein hedging aur arbitrage ke sawaal isi paribhasha par tike hote hain — agar yahan farak dhundhla raha, toh wahan jawab nahi banega.

Unit do: Understanding the Index
Buniyaad ke baad agla sawaal yeh hai ki jis index par contract bante hain, woh number khud banta kaise hai.

Understanding the Index: woh number kaise banta hai.

Index koi ek share nahi, kai shares ka ek number hai. Unit 2 yeh kholta hai ki woh number banta kaise hai — kaunse shares, kis weight par, aur free float ka matlab kya hai. Achhe index ki pehchaan, impact cost aur tracking error bhi yahin aate hain.

• Index ek ginaa hua number hai, koi khareedi ja sakne wali cheez nahi.
• Weight kis aadhar par diya gaya hai, yahi poora farak banata hai.
• Free float sirf woh hissa ginta hai jo sach mein bazaar mein hai.
• Impact cost aur tracking error index ki quality ke paimane hain.

SEEMAYEIN

Yeh set kya karta hai, aur kya nahi

Kya milega

• Unit 2 ke sawaal alag chunta hai — sirf index banne se judi baatein.
• Har jawab ke saath samjhata hai ki woh jawab kis niyam se nikla.

Kya nahi milega

• Index ke aaj ke members ya unke weight yahan nahi milte.

Is unit ke sawaal kholo

IS UNIT MEIN

Chunav, weight aur free float

Index banane mein 2 faisle hote hain: kaunse shares andar aayenge, aur andar aane ke baad har share ka kitna asar hoga. Doosra faisla hi weighting hai. Kahin weight market value par diya jaata hai, kahin daam par — aur dono se banne wale index alag tarah se hilte hain.

Free float ka matlab hai woh hissa jo sach mein bazaar mein khareed-farokht ke liye uplabdh hai. Promoter ya strategic holding us ginti se bahar rehti hai. Isliye ek badi company ka asar index par utna nahi bhi ho sakta jitna uske poore size se lagta hai.

AKSAR CHHOOT JAATA HAI

Achha index kya hota hai

Exam yeh bhi poochhta hai ki ek index ko achha kis wajah se kaha jaata hai. Usme liquidity, saaf niyam, aur bina jhatke ke sauda ho paana shamil hai. Impact cost yahi naapta hai — ek sauda karne par daam khud kitna hil jaata hai.

Tracking error alag sawaal hai. Woh index ka nahi, use follow karne wale portfolio ka paimana hai: dono kitna alag chale. In dono ko ek maan lena is unit ki sabse aam galti hai.

Unit 3: Forwards and Futures
Underlying aur index samajh mein aa gaye. Ab woh contract, jo unhi par bana hota hai — aur uski shartein.

Forwards and Futures: ek hi soch, 2 alag dhaanche.

Forward 2 partiyon ke beech ka apna sauda hai. Futures wahi soch hai lekin exchange par standard shakl mein. Unit 3 yeh farak, contract ki tay shartein, cost of carry se banta pricing, basis ka expiry par sikudna aur open interest ka matlab poochhta hai.

• Forward mein doosri party ka khatra rehta hai. Futures mein clearing beech mein aati hai.
• Futures ki har shart pehle se tay hoti hai, isliye woh aasani se badalte hain.
• Cost of carry batata hai ki futures ka daam spot se kyun alag hota hai.
• Basis expiry ke paas aate aate sikudta jaata hai.

PRACTICE SET

Is set mein kya hai

Kya milega

• Unit 3 ke sawaal deta hai — forward, futures, pricing aur basis.
• Har answer ke baad woh niyam dikhata hai jis se jawab nikla.

Is unit ke sawaal kholo

IS UNIT MEIN

Standard hone se kya badalta hai

Forward 2 logon ke beech ki baat hai: quantity, quality, tareekh, sab aapas mein tay. Iska faayda yeh hai ki woh bilkul zaroorat ke hisaab se banta hai. Nuksan yeh ki use aage kisi aur ko dena mushkil hai, aur doosri party mukar jaaye toh koi beech mein nahi hota.

Futures wahi sauda hai jise exchange ne standard bana diya. Lot ka size, expiry, aur tay hone ka tareeka pehle se likha hota hai. Isi standard hone se 2 cheezein aati hain: khareed-bech aasan ho jaati hai, aur clearing corporation beech mein khada ho jaata hai.

HISAAB

Cost of carry aur basis

Futures ka daam spot se alag kyun hota hai — is sawaal ka jawab cost of carry deta hai. Expiry tak paisa rokne ki laagat aur us beech milne wala faayda, dono milkar farak banate hain. Yeh koi bhavishyavani nahi hai. Yeh ek hisaab hai.

Basis spot aur futures ke beech ka wahi farak hai. Expiry paas aane par woh sikudta jaata hai, aakhir mein dono ek jagah mil jaate hain. Open interest is se alag cheez hai: woh khule pade contracts ki ginti hai, volume nahi — aur exam yeh farak aksar poochhta hai.

Unit 4: Application of Futures
Futures ka dhaancha samajh liya. Ab woh sawaal jo poochhte hain ki us dhaanche ka istemal kis kis tarah hota hai.

Application of Futures: hedging, arbitrage aur spread.

Unit 4 futures ke istemal par hai. Long hedge aur short hedge mein farak, beta ke sahaare portfolio hedge karna, cash aur futures ke beech arbitrage, aur 2 alag expiry ke beech calendar spread — sab yahin aate hain.

• Hedge ki disha us khatre se tay hoti hai jo pehle se maujood hai.
• Beta batata hai ki portfolio index ke saath kitna hilta raha hai.
• Arbitrage 2 jagah ke daam ke farak par tika hota hai, anumaan par nahi.
• Calendar spread ek hi underlying ki 2 alag expiry ke beech hota hai.

SEEMAYEIN

Yeh set kis daayre mein hai

Kya milega

• Unit 4 ke sawaal chunta hai — hedging, arbitrage aur spread.
• Har jawab ke saath uska aadhar likhta hai, taaki tareeka samajh aaye.

Kya nahi milega

• Official workbook ki jagah yeh set nahi le sakta.

Is unit ke sawaal kholo

IS UNIT MEIN

Hedge ki disha kaun tay karta hai

Sabse zyada galti yahin hoti hai. Hedge ki disha apni marzi se nahi chunti — woh us khatre se nikalti hai jo pehle se saath mein hai. Jiske paas shares hain, uska khatra girawat ka hai. Jise aage khareedna hai, uska khatra badhne ka hai. Dono ke liye futures ki taraf ulti hoti hai.

Portfolio par yeh baat beta ke zariye aati hai. Beta yeh naapta hai ki portfolio index ke saath ausatan kitna hila. Usi ke sahaare yeh ginaa jaata hai ki kitne index futures poore portfolio ke barabar khade honge. Yeh anumaan hai, koi pakka number nahi.

AKSAR CHHOOT JAATA HAI

Arbitrage aur spread alag cheezein hain

Arbitrage mein daam ke farak par kaam hota hai: ek jagah lekar doosri jagah dena, jab dono ka farak laagat se bada ho. Iska matlab yeh nahi ki usme khatra shoonya hai — laagat, timing aur execution sab isme ginne padte hain.

Calendar spread ek hi underlying ki 2 alag expiry ke beech hota hai. Wahan sawaal daam ka nahi, dono expiry ke beech ke farak ka hota hai. Exam mein yeh 2 sawaal aksar milte-julte shabdon mein aate hain, isliye pehle yeh dekhna zaroori hai ki 2 cheezein alag hain ya 2 samay.

Unit 5: Introduction to Options
Futures mein dono taraf barabar zimmedari hoti hai. Options usi jagah asymmetry le aate hain — aur wahi agla unit hai.

Introduction to Options: premium ke andar kya hai.

Option kharidne wale ko haq milta hai, bechne wale par zimmedari aati hai — yahi asymmetry poore unit ka aadhar hai. Unit 5 mein call aur put, strike, moneyness, premium ke andar intrinsic aur time value, aur greeks ka parichay aata hai.

• Ek taraf haq hota hai, doosri taraf zimmedari — dono barabar nahi hain.
• Moneyness sirf yeh batata hai ki strike spot ke kis taraf hai.
• Premium 2 hisson se banta hai: intrinsic value aur time value.
• Greeks batate hain ki premium kis wajah se hilta hai.

SEEMAYEIN

Is set ka daayra

Kya milega

• Unit 5 ke sawaal alag karta hai — option ki buniyaadi paribhashayein.
• Har answer ke saath wajah deta hai, taaki concept par pakad bane.

Kya nahi milega

• Greeks ka poora ganit yahan nahi hai — woh workbook mein hai.

Is unit ke sawaal kholo

IS UNIT MEIN

Haq aur zimmedari barabar nahi hote

Option ka poora dhaancha ek hi baat par khada hai: ek taraf haq hai, doosri taraf zimmedari. Jiske paas haq hai woh premium deta hai aur chun sakta hai. Jis par zimmedari hai woh premium leta hai aur uske paas chunav nahi hota. Har payoff isi asymmetry se nikalta hai.

Moneyness isi ke saath aata hai. Strike spot ke kis taraf hai, iska naam ITM, ATM ya OTM hota hai. Yeh sirf jagah batata hai — na yeh ki daam kis taraf jaayega, na yeh ki option sasta hai ya mehnga.

HISAAB

Premium ke 2 hisse

Premium ko 2 hisson mein baanta jaata hai. Intrinsic value woh hissa hai jo abhi, isi waqt, strike aur spot ke farak se milta hai — aur woh kabhi rin nahi hota. Baaki jo bacha, woh time value hai: samay aur anishchitata ki keemat.

Greeks isi time value ke hilne ko naapte hain. Delta underlying ke asar ko, gamma delta ke badalne ko, theta samay guzarne ko, vega volatility ke anumaan ko. Exam mein aksar yahi poochha jaata hai ki kaunsa greek kis wajah se hila, isliye naam ke saath uska kaam yaad rakhna padta hai.

Unit 6: Application of Options
Buniyaadi paribhashayein clear ho gayin. Ab woh unit jahan 2 ya 3 options milakar ek payoff ki shakl banti hai.

Application of Options: payoff ki shakl hi asli sawaal hai.

Unit 6 options ke istemal par hai. Covered call, protective put, straddle, strangle, spread aur butterfly — har ek ka payoff apna hai, aur exam mein yahi payoff ki shakl poochhi jaati hai. Yahan strategies samjhayi jaati hain, kisi ko apnane ki baat nahi hoti.

• Har strategy ek payoff ki shakl hai — pehle woh shakl banao, phir jawab.
• 2 legs milane par dono ke premium aur dono ke strike ginne padte hain.
• Kuch shaklein disha par tikti hain, kuch sirf halchal par.
• Yahan strategies samjhayi jaati hain, sujhayi nahi jaati.

PRACTICE SET

Yeh set kya deta hai

Kya milega

• Unit 6 ke sawaal chunta hai — strategy ka dhaancha aur uska payoff.
• Har answer ke saath samjhata hai ki payoff ki shakl kaise bani.

Is unit ke sawaal kholo

IS UNIT MEIN

Pehle shakl banao, phir jawab

Is unit ke zyadatar sawaal ek hi tareeke se khulte hain: kaagaz par payoff ki shakl bana lo. Har leg alag likho — kaunsa strike, khareeda ya becha, kitna premium. Phir dono ko jodo. Jo aakhri shakl bani, wahi jawab batati hai.

Covered call aur protective put ek maujood position ke saath ek option jodte hain, isliye unka payoff us position ke saath milta hai. Straddle aur strangle ek hi disha par nahi, halchal par tikte hain. Spread 2 strike ke beech ki doori se banta hai, aur butterfly 3 strike se.

AKSAR CHHOOT JAATA HAI

Naam yaad karna kaafi nahi hota

Bahut log strategy ke naam yaad kar lete hain aur payoff ki shakl chhod dete hain. Exam usi jagah pakadta hai: sawaal naam nahi poochhta, woh ek dhaancha deta hai aur poochhta hai ki kis haalat mein kya hoga.

Ek aur baat jo aksar rah jaati hai: premium dono taraf ginna. Jab ek leg khareedi gayi aur doosri bechi gayi, toh shuruaat mein hi paisa dono taraf chalta hai. Us shuruaati farak ko chhod dena poore payoff ko sarka deta hai.

Unit 7: Trading Mechanism
Payoff kaagaz par ban gaya. Ab yeh dekhna ki exchange par order sach mein pahunchta kaise hai aur kis shart ke saath.

Trading Mechanism: order exchange tak kaise pahunchta hai.

Unit 7 bazaar ke dhaanche par hai: trading member aur clearing member ka farak, order ke prakaar aur unke conditions, contract specification, price band, aur corporate action par contract mein hone wale adjustment. Kaunse shares derivatives ke laayak mane jaate hain, yeh bhi yahin aata hai.

• Trading member aur clearing member ka kaam alag alag hota hai.
• Order ka prakaar aur uski shart 2 alag cheezein hain.
• Contract specification mein har shart pehle se likhi hoti hai.
• Corporate action par contract adjust hota hai, khatam nahi.

SEEMAYEIN

Is set ki hadd

Kya milega

• Unit 7 ke sawaal chunta hai — member, order aur contract ki shartein.
• Har jawab ke saath us niyam ka zikr karta hai jis se woh nikla.

Kya nahi milega

• Kisi broker ka platform ya uska tareeka yahan nahi sikhaaya jaata.
• Aaj ki contract shartein yahan likhi nahi hain — woh exchange par hain.

Is unit ke sawaal kholo

IS UNIT MEIN

Kaun kya karta hai

Trading member woh hai jo exchange par sauda karta hai. Clearing member woh hai jo us saude ki zimmedari uthata hai aur settlement poora karta hai. Ek hi sanstha dono kaam kar sakti hai, lekin kaam 2 hain — aur exam is farak par seedha sawaal poochhta hai.

Order ke 2 hisse hote hain: kis tarah ka order hai, aur uske saath kaunsi shart lagi hai. Ek shart daam se judi hoti hai, ek samay se, aur ek is baat se ki kitna hissa bhare bina order rahega ya nahi. Yeh 3 alag alag padhne se hi sawaal saaf khulte hain.

AKSAR CHHOOT JAATA HAI

Corporate action par contract badal jaata hai

Jab underlying share par bonus, split ya dividend jaisa koi corporate action hota hai, toh derivatives contract ko adjust kiya jaata hai — quantity aur strike dono par asar padta hai. Maqsad yeh hai ki jis position ki keemat pehle jitni thi, woh action ke baad bhi utni hi rahe.

Yeh hissa theory jaisa lagta hai aur isliye chhod diya jaata hai. Lekin exam mein iske sawaal seedhe aur ginne wale hote hain, aur asli kaam mein bhi yahi sabse zyada uljhan paida karta hai.

Unit 8: Clearing, Settlement and Risk Management
Order chala gaya. Ab uske baad ka rasta — kaun beech mein khada hai, margin kyun lagti hai, aur settlement kaise poora hota hai.

Clearing, Settlement aur Risk Management: trade ke baad kya hota hai.

Trade ho jaane ke baad ka poora rasta yahin hai. Unit 8 clearing corporation ka kirdaar, daily mark to market, futures ka final settlement, option premium aur exercise ka settlement, aur margin ke alag alag prakaar samjhata hai. Position limits bhi isi hisse mein aate hain.

• Clearing corporation dono taraf ke beech khada hota hai, isliye counterparty ka khatra ghatta hai.
• Futures roz nipatte hain. Options mein premium aur exercise alag chalte hain.
• Margin ek jamanat hai, koi charge nahi — yeh farak exam poochhta hai.
• Position limits batati hain ki ek jagah kitna khula rakha ja sakta hai.

SEEMAYEIN

Yeh set kis par hai

Kya milega

• Unit 8 ke sawaal alag chunta hai — clearing, settlement aur margin.
• Har answer ke baad uska aadhar dikhata hai, taaki kram samajh aaye.

Kya nahi milega

• Aaj ki margin ki dar ya seemayein yahan nahi likhi hain.
• Kisi broker ke apne niyam yahan shamil nahi hain.
• Yeh official workbook ki jagah nahi le sakta.

Is unit ke sawaal kholo

IS UNIT MEIN

Roz ka nipatara aur aakhri nipatara

Futures mein har din ka faayda ya nuksan usi din tay ho jaata hai. Ise mark to market kehte hain: din ke aakhir mein position ko us din ke daam par dobara likha jaata hai aur farak account mein aata-jaata hai. Isliye expiry tak koi bada bakaya jama nahi hota.

Options mein rasta alag hai. Premium ka settlement shuruaat mein hota hai, aur exercise ka settlement tab jab haq ka istemal hota hai. 2 alag ghatnayein, 2 alag samay — inhe ek samajh lena is unit ki sabse aam galti hai.

AKSAR CHHOOT JAATA HAI

Margin ek jamanat hai

Margin koi fees nahi hai. Woh jamanat hai jo is liye rakhi jaati hai ki agar bazaar ulta chala toh nuksan bhar sake. Uske alag alag prakaar hote hain — shuruaat mein lagne wali, khule position ke aakaar par lagne wali, aur options mein premium se judi wali.

Iske saath position limits aate hain. Woh yeh tay karti hain ki ek client, ek member ya poore bazaar mein kitna khula rakha ja sakta hai. Yeh seemayein badalti rehti hain, isliye unke numbers yahan nahi likhe jaate — unke liye exchange aur current workbook hi sahi jagah hai.

Unit 9: Legal and Regulatory Environment
Settlement aur margin ke sab niyam kahin se aate hain. Agla unit wahi jagah dikhata hai jahan se yeh niyam bante hain.

Legal and Regulatory Environment: niyam kahan se aate hain.

Unit 9 yeh batata hai ki derivatives par niyam kaun banata hai aur kis kanoon ke tahat. Securities Contracts Regulation Act, SEBI Act, exchange ke rules aur byelaws, member banne ki shartein, aur investor ke bachaav se judi vyavastha — sab isi hisse mein hain.

• Kanoon upar hai, regulations uske neeche, aur exchange ke rules sabse paas.
• SEBI ke paas niyam banane aur laagu karne dono ka kaam hai.
• Member banne ki shartein kanoon se nikalti hain, marzi se nahi.
• Niyam badalte rehte hain, isliye tareekh dekhna zaroori hai.

SEEMAYEIN

Is set ka daayra

Kya milega

• Unit 9 ke sawaal chunta hai — kanoon, regulations aur exchange ke rules.
• Har answer ke saath yeh dikhata hai ki woh kis darje ke niyam se aaya.

Kya nahi milega

• Niyam ka aaj ka roop yahan poora nahi likha hai.

Is unit ke sawaal kholo

IS UNIT MEIN

3 darje, ek hi dhaancha

Sabse upar kanoon hota hai, jo sansad se aata hai. Uske neeche regulator ke banaye regulations aur circulars. Aur sabse paas exchange ke apne rules, byelaws aur regulations, jo rozmarra ka kaam chalate hain. Har niyam kisi na kisi darje se nikalta hai.

Exam is kram par seedha sawaal poochhta hai: kaunsi baat kanoon mein likhi hai, kaunsi regulator ke niyam mein, aur kaunsi exchange ke apne dhaanche mein. Isliye naam yaad karne se pehle darja pehchanna zyada kaam ka hai.

AKSAR CHHOOT JAATA HAI

Niyam ki apni tareekh hoti hai

Is unit ke bahut se jawab samay ke saath badal jaate hain. Ek circular purane niyam ki jagah le leta hai, aur 2 saal purani kitaab wahi purani baat dohraati rehti hai. Isliye sawaal padhte waqt yeh dekhna zaroori hai ki baat kis samay ki hai.

Yahi wajah hai ki yahan koi seema, dar ya shart likh kar nahi rakhi gayi. Jo cheez badal sakti hai use prose mein likh dena sabse aasan tareeka hai use chupchaap purana ho jaane dena. Uske liye current official workbook aur regulator ki apni site hi sahi jagah hai.

Unit 10: Accounting and Taxation
Niyam ka dhaancha dekh liya. Ab woh hissa jahan sauda kitaab mein darj hota hai aur uska tax tay hota hai.

Accounting and Taxation: kitaab mein kaise likha jaata hai.

Unit 10 yeh 2 cheezein jodta hai: derivatives ke sauday kitaabon mein kaise darj hote hain, aur unka tax kis sar ke neeche aata hai. Margin, premium aur settlement ki entries, saath hi derivatives par lagne wale STT ka aadhar — dono yahin aate hain. Rates samay ke saath badalte hain, isliye current workbook hi authority hai.

• Margin ki entry aur nuksan ki entry 2 alag cheezein hain.
• Premium ka hisaab exercise ya expiry par poora hota hai.
• Tax kis sar ke neeche aata hai, yeh sawaal sabse pehle aata hai.
• Dar aur shartein badalti rehti hain — sirf workbook hi authority hai.

SEEMAYEIN

Yeh set kya hai, aur kya nahi

Kya milega

• Unit 10 ke sawaal chunta hai — accounting entries aur tax ka aadhar.
• Har answer ke saath uska tareeka samjhata hai, sirf natija nahi.

Kya nahi milega

• Aaj ki dar ya seema yahan likhi nahi hai — woh badalti rehti hai.

Is unit ke sawaal kholo

IS UNIT MEIN

Kitaab mein kya kahan jaata hai

Accounting ka hissa yeh poochhta hai ki har ghatna kis khaate mein likhi jaayegi. Margin jama karna ek jamanat hai, isliye woh kharcha nahi hota. Roz ka faayda ya nuksan alag likha jaata hai. Option ka premium tab tak khula pada rehta hai jab tak exercise ya expiry usko band na kar de.

Yeh baat aksar ulti samajh li jaati hai: log margin ko laagat maan lete hain aur premium ko turant kharcha. Dono galat hain, aur exam theek yahin par sawaal khada karta hai.

AKSAR CHHOOT JAATA HAI

Pehle sar, phir dar

Tax ke sawaal mein pehla kadam yeh hai ki aamdani kis sar ke neeche aayegi. Uske baad hi baaki sab tay hota hai — kya ghataya ja sakta hai, kaunsa record rakhna hoga, aur kis tarah ka hisaab dena hoga. Sar pehchane bina dar ka koi matlab nahi.

STT jaisi cheezein saude ke waqt hi lagti hain, aur derivatives par unka aadhar cash saudon se alag hota hai. Unki dar samay ke saath badalti hai, isliye yahan koi number nahi likha gaya. Har taaza tasdeeq current official workbook se hi karni chahiye.

Unit 11: Sales Practices and Investor Protection
Aakhri unit, aur sabse zyada chhoda jaane wala — client ke saath bartaav, disclosure, aur shikayat ka nipatara.

Sales Practices aur Investor Protection: bharosa kaise banta hai.

Unit 11 aakhri hai aur sabse zyada chhoda jaata hai. Ismein risk disclosure document, client ko jaan-ne ki prakriya, code of conduct, shikayat ka nipatara aur arbitration aate hain. Yeh theory nahi, bazaar ka bharosa banane wala hissa hai.

• Risk disclosure ek formality nahi, ek zaroori jaankari hai.
• Client ko jaan-ne ki prakriya har rishte se pehle poori hoti hai.
• Code of conduct batata hai ki kya kehna aur karna mana hai.
• Shikayat ke liye ek tay rasta hota hai, jiska aakhri padav arbitration hai.

PRACTICE SET

Is set mein kya hai

Kya milega

• Unit 11 ke sawaal chunta hai — conduct, disclosure aur shikayat ka rasta.
• Har answer ke saath uski wajah likhta hai, taaki niyam ka maqsad saaf ho.

Is unit ke sawaal kholo

IS UNIT MEIN

Pehle jaankari, phir rishta

Derivatives mein rishta shuru hone se pehle 2 cheezein poori hoti hain: client ko theek se jaan lena, aur khatre ki jaankari likhit roop mein de dena. Risk disclosure document isi liye hai — taaki baad mein yeh na kaha ja sake ki khatra bataya hi nahi gaya tha.

Code of conduct uske aage ka hissa hai. Woh batata hai ki client ke saath bartaav mein kya karna zaroori hai aur kya karna mana hai — jhoothi jaankari, chhupaya hua conflict, ya bina ijaazat ke sauda, sab isi mein aate hain.

AKSAR CHHOOT JAATA HAI

Shikayat ka rasta ek kram mein chalta hai

Exam yeh poochhta hai ki shikayat kis kram mein aage badhti hai. Pehle sanstha ke apne paas, phir exchange ke shikayat tantra tak, aur aakhir mein arbitration. Har padav ka apna maqsad hai, aur ek padav chhod kar aage jaana nahi hota.

Yeh hissa sabse aakhir mein aata hai, isliye padhne ka samay khatam ho chuka hota hai aur log ise chhod dete hain. Lekin iske sawaal seedhe hote hain aur poori tarah yaad rakhne laayak hain — kam mehnat mein sabse zyada faayda yahin hai.

Practice ka sahi tareeka
Saare hisse poore ho gaye. Ab upar ka pehla hissa dobara padhiye. Woh batata hai ki galat answer ke baad kya karna sach mein kaam karta hai.