NISM Series 2A Mock Test 2: Free RTA Corporate Paper

How this mock is marked

• 50 questions, one mark each.
• 60 minutes on the clock. That is the real exam's pace: 120 minutes for 100 questions.
• A wrong answer loses nothing, so answer every question.
• You pass with 50% or more.
• Submit to see your score and the chapters to work on. Then check each right answer and why it is right.

What this paper covers

50 questions from 15 chapters. Each chapter gets a share that follows our question bank.

• Introduction to Securities: 3 questions.
• Characteristics of Equity Shares: 4 questions.
• Characteristics of Debt Securities: 3 questions.
• Characteristics of Other Securities: 3 questions.
• Basics of Mutual Funds: 4 questions.
• SEBI – Role and Regulations: 3 questions.
• Public Offer of Securities: 3 questions.
• Modes of allotment of shares other than Public Offers: 4 questions.
• Processes related to Public Offering of Shares: 3 questions.
• Roles and Responsibilities in a Public Issue: 3 questions.
• Depository Services: 4 questions.
• Processes Related to Depositories: 3 questions.
• Investor Interface with the R&T Agent: 3 questions.
• Secondary Market Transactions: 4 questions.
• Client Servicing: 3 questions.

By level: Beginner 15 · Intermediate 25 · Advanced 10.

Chapter split of Mock 2

How Mock 2 shares its questions between chapters and levels. This split belongs to this paper. The other mocks of this exam have their own.

• Introduction to Securities: Beginner 1 · Intermediate 1 · Advanced 1.
• Characteristics of Equity Shares: Beginner 1 · Intermediate 2 · Advanced 1.
• Characteristics of Debt Securities: Beginner 1 · Intermediate 2 · Advanced 0.
• Characteristics of Other Securities: Beginner 1 · Intermediate 1 · Advanced 1.
• Basics of Mutual Funds: Beginner 1 · Intermediate 2 · Advanced 1.
• SEBI – Role and Regulations: Beginner 1 · Intermediate 2 · Advanced 0.
• Public Offer of Securities: Beginner 1 · Intermediate 1 · Advanced 1.
• Modes of allotment of shares other than Public Offers: Beginner 1 · Intermediate 2 · Advanced 1.
• Processes related to Public Offering of Shares: Beginner 1 · Intermediate 2 · Advanced 0.
• Roles and Responsibilities in a Public Issue: Beginner 1 · Intermediate 1 · Advanced 1.
• Depository Services: Beginner 1 · Intermediate 2 · Advanced 1.
• Processes Related to Depositories: Beginner 1 · Intermediate 2 · Advanced 0.
• Investor Interface with the R&T Agent: Beginner 1 · Intermediate 1 · Advanced 1.
• Secondary Market Transactions: Beginner 1 · Intermediate 2 · Advanced 1.
• Client Servicing: Beginner 1 · Intermediate 2 · Advanced 0.

3 sample questions, with answers

These 3 questions are not in Mock 2, so reading them spoils nothing here. They come from Mock 1 of this exam. Each one shows the hint, the answer and why every wrong option is wrong.

1. Q1An investor holds 600 shares of ₹10 face value, with ₹7 paid on each. What unpaid amount remains callable?

   • A

     Option A. ₹600

     Why it is wrong: ₹600 assumes only ₹1 remains unpaid on each share.

   • B

     Option B. ₹6,000

     Why it is wrong: ₹6,000 is the total face value and includes money already paid.

   • C

     Option C. ₹1,800 — Correct answer

   • D

     Option D. ₹4,200

     Why it is wrong: ₹4,200 is the amount already paid, not the unpaid amount.

   Answer: C. ₹1,800 remains unpaid on the shares. Unpaid amount per share = ₹10 − ₹7 = ₹3. Total unpaid amount = 600 × ₹3 = ₹1,800. Remember: Partly paid shares can carry an obligation to pay the unpaid amount.

   Hint, shown before you answer in practice mode: Identify the unpaid part of each share before considering the number of shares. Common mistake: Applying the fully paid share rule to partly paid shares.

   II-A-009hardnumerical

   Study this unit

2. Q2A floating-rate bond pays the benchmark plus 1.5 percentage points. At reset, the benchmark becomes 6.2%. What coupon rate applies?

   • A

     Option A. 7.7% — Correct answer

   • B

     Option B. 6.2%

     Why it is wrong: 6.2% leaves out the contractual spread.

   • C

     Option C. 4.7%

     Why it is wrong: 4.7% subtracts the spread instead of adding it.

   • D

     Option D. 9.3%

     Why it is wrong: 9.3% multiplies the two stated numbers instead of adding the spread.

   Answer: A. The new coupon rate is 7.7%. Calculation: 6.2% + 1.5 percentage points = 7.7%. Remember: A floating coupon changes according to its benchmark and contractual spread.

   Hint, shown before you answer in practice mode: The stated spread is added in percentage points at the reset. Common mistake: Treating percentage points as a multiplication factor.

   II-A-026mediumnumerical

   Study this unit

3. Q3A company issues 20,000 shares at ₹35 each with ₹10 face value. What is the total securities premium?

   • A

     Option A. ₹2,00,000

     Why it is wrong: ₹2,00,000 is the nominal share capital, not the premium.

   • B

     Option B. ₹5,00,000 — Correct answer

   • C

     Option C. ₹7,00,000

     Why it is wrong: ₹7,00,000 is the whole issue amount, including face value.

   • D

     Option D. ₹9,00,000

     Why it is wrong: ₹9,00,000 adds nominal capital to the whole issue amount and double counts it.

   Answer: B. The securities premium is ₹5,00,000. Premium per share = ₹35 − ₹10 = ₹25. Total premium = 20,000 × ₹25 = ₹5,00,000. Remember: Issue proceeds contain nominal capital and any premium.

   Hint, shown before you answer in practice mode: Only the part of the issue price above nominal value forms the premium. Common mistake: Calling the full issue price a premium.

   II-A-014mediumnumerical

   Study this unit

Then take Mock 3

Read the chapters your result names first. A new paper then shows whether those gaps have closed.