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SEBI vide notification dated March 29, 2011, has notified that with effect from the date of the notification, the associated persons engaged or employed by a registered depository participant in: (a) dealing or interacting with clients; (b) dealing with securities of clients; (c) handling redressal of investor grievances; (d) internal control or risk management; (e) activities having a bearing on operational risk; or (f) maintenance of books and records pertaining to the above activities, shall be required to have a valid certificate from the National Institute of SEcurities Markets (NISM) by passing the NISM Series VI: Depository Operations Certification Examination. The detailed SEBI notification is placed and available on the Circulars Section, on the NISM website, www.nism.ac.in. The examination seeks to create a common minimum knowledge benchmark for associated persons engaged or employed by a registered depository participant in:
(a) dealing or interacting with clients; (b) dealing with securities of clients; (c) handling redressal of investor grievances; (d) internal control or risk management; (e) activities having a bearing on operational risk; or (f) maintenance of books and records pertaining to the above activities The certification aims to enhance the quality of services as rendered by the Depository Participants. Examination Objectives On successful completion of the examination the candidate should: · Know the basics of the Indian securities market and the depository system, the need for depository and the key features of the depository system in · Understand the institutional structure of the depository system in · Understand the regulatory framework in which the depositories and its DPs function, their eligibility criteria, registration procedure, rights and obligations etc. · Know the various functions of the Depository and its Depository Participants (DPs) such as dematerialisation, trading and settlement, pledging and hypothecation. · Understand how a demat account is opened, documents required to open an account and significance of Power of Attorney (POA). Assessment Structure The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be negative marking of 25% of the marks assigned to a question. For Registration click here FEES Rs.1,000.00 (Inclusive of Study Material) Candidates interested in taking the test in Mumbai may approach the BTI with a DD of Rs. 1,000.00 drawn in favour of "BSE Institute Ltd." payable at Mumbai. Fees once paid will not be refunded and validity period for the fees would be 180 days from the date of the payment.
For Test Objectives click here For Workbook (NEW) click here Corrigendum to Workbook version February 2011
Revised Workbook can be downloaded from here To find out more about NISM click here (or copy paste www.nism.ac.in in your web browser)
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