Unit ko samjho · NISM Series II-A
Investor Interface with the R&T Agent
10 questions is unit mein
Sawaal aur jawaab English mein hain, kyunki NISM ka exam paper bhi English mein hota hai.
Is unit mein kya hai
- Which term describes a change in securities ownership arising from a holder’s death through the applicable legal process?
- What is transposition of names in a jointly held securities record?
- What is the protective purpose of a stop-transfer request concerning reported lost physical share certificates?
- An email asks an RTA to replace an investor’s registered bank details. The sender’s authority is unverified. What is the appropriate first response?
- An investor grants a representative a limited power of attorney for specified service requests. How should the RTA assess an instruction from that representative?
- What is a practical benefit of electronic voting for an eligible shareholder at a company meeting?
- Why must replacement processing for a lost securities certificate prevent the old and replacement evidence from supporting duplicate claims?
- A statement shows ₹6,000 gross dividend and ₹600 tax withheld. The bank received ₹5,400. What unreconciled cash difference exists in these figures?
- Shares of a deceased holder have moved to the Investor Education and Protection Fund account. A family member requests payment using only an old certificate copy. What must be established?
- One holding is jointly in A and B’s names. Another is jointly in A and C’s names. A asks to combine them by deleting B and C. How should this be treated?
Zaroori ideas
Practice bank se · 1
Which term describes a change in securities ownership arising from a holder’s death through the applicable legal process?
Transmission is the change arising through the applicable legal process after a holder’s death, rather than a voluntary market sale. Remember: Transmission and voluntary transfer are distinct processes.
Hint The change occurs by operation of law rather than through the holder’s sale instruction. Common mistake: Using ordinary sale or transfer paperwork without considering transmission requirements.
II-A-121Practice bank se · 2
What is transposition of names in a jointly held securities record?
Transposition changes the order of the same joint holders’ names without itself adding or removing a holder. Remember: Transposition changes order, not the set of joint holders.
Hint The people remain the same even though their sequence changes. Common mistake: Treating removal of a joint holder as a simple name-order change.
II-A-122Practice bank se · 3
What is the protective purpose of a stop-transfer request concerning reported lost physical share certificates?
A stop-transfer request helps prevent an unauthorised transfer of the affected holding while the loss and supporting documents are examined. Remember: A stop-transfer request protects the affected holding rather than its market value.
Hint The concern is misuse of the missing ownership documents. Common mistake: Assuming a protective record instruction is a price-protection mechanism.
II-A-123Practice bank se · 4
An email asks an RTA to replace an investor’s registered bank details. The sender’s authority is unverified. What is the appropriate first response?
The RTA should verify identity and authority through its prescribed process before changing payout details. Remember: Bank-detail changes require verified instructions, not just plausible account information.
Hint A request affecting where money is paid deserves controlled verification. Common mistake: Accepting knowledge of a holding as sufficient authority to redirect money.
II-A-124Practice bank se · 5
An investor grants a representative a limited power of attorney for specified service requests. How should the RTA assess an instruction from that representative?
The RTA should check that the instruction falls within the valid authority granted by the power of attorney. Remember: Check the scope and validity of representative authority before acting.
Hint A representative’s authority has a scope and does not automatically transfer ownership. Common mistake: Treating every power of attorney as unlimited authority.
II-A-125Practice bank se · 6
What is a practical benefit of electronic voting for an eligible shareholder at a company meeting?
Electronic voting lets an eligible shareholder submit a vote through the authorised electronic process rather than relying only on physical attendance. Remember: Electronic voting supports exercise of existing eligible voting rights.
Hint Technology changes how eligible voting rights are exercised, not who owns those rights. Common mistake: Assuming an electronic channel creates voting rights that the investor did not already have.
II-A-126Practice bank se · 7
Why must replacement processing for a lost securities certificate prevent the old and replacement evidence from supporting duplicate claims?
Both relate to the same underlying holding, so controls must prevent the old and replacement evidence from creating duplicate entitlement claims. Remember: Replacement servicing must preserve one valid entitlement for the original holding.
Hint Replacement evidence restores access to an existing holding rather than creating a second investment. Common mistake: Treating a replacement document or credit as a second separate shareholding.
II-A-127Practice bank se · 8
A statement shows ₹6,000 gross dividend and ₹600 tax withheld. The bank received ₹5,400. What unreconciled cash difference exists in these figures?
The unreconciled difference is ₹0. Expected net credit = ₹6,000 − ₹600 = ₹5,400. Actual credit is also ₹5,400. Remember: Reconcile gross dividend, stated withholding and actual net credit separately.
Hint Compare the actual bank credit with the net amount shown by the statement. Common mistake: Calling every difference between gross dividend and bank credit a missing payment.
II-A-128Practice bank se · 9
Shares of a deceased holder have moved to the Investor Education and Protection Fund account. A family member requests payment using only an old certificate copy. What must be established?
The claimant’s entitlement and required transmission and claim documents must be established because an old certificate copy alone does not prove authority to receive the assets. Remember: A claim involving a deceased holder and the fund requires a supported chain of entitlement.
Hint Both the original holding and the claimant’s authority must be connected through the proper process. Common mistake: Treating possession of an old certificate copy as complete proof of inheritance.
II-A-129Practice bank se · 10
One holding is jointly in A and B’s names. Another is jointly in A and C’s names. A asks to combine them by deleting B and C. How should this be treated?
The request changes the holder set and therefore needs appropriate authority and processing rather than being treated as simple consolidation or transposition. Remember: Confirm the full holder set before treating holdings as identical for service processing.
Hint A common first holder does not make two different joint-holder groups identical. Common mistake: Looking only at the first holder when comparing joint holdings.
II-A-130