Model Test Papers for BCSM

(Marks:1.0) (Negative Marks:0.25) Q.No. 1 The news window includes news on OptionBoard meeting dates 1 OptionBSE Training Institute 2 OptionBuyback of shares 3 OptionAll of the above 4 Answer All of the above (Marks:1.0) (Negative Marks:0.25) Q.No. 2 A broker can download reports of the last _____ auctions after closing session Option5 1 Option15 2 Option25 3 Option35 4 Answer 25 (Marks:1.0) (Negative Marks:0.25) Q.No. 3 What is Trigger rate. OptionThe rate at which the stop loss order should be issued in the BOLT. 1 OptionThe rate at which market order gets executed. 2 OptionThs closing price of the scrip for a day. 3 OptionThe scrip rate applicable only during the post closing session. 4 Answer The rate at which the stop loss order should be issued in the BOLT. (Marks:1.0) (Negative Marks:0.25) Q.No. 4 The last ________ entries are reflected in the ticker. Option21 1 Option- 22

2 Option23 3 Option24 4 Answer 24 (Marks:1.0) (Negative Marks:0.25) The client ID can be registered on the BOLT using the trader terminals Q.No. 5 authorised by the Optionexchange 1 OptionSEBI 2 OptionAdmin terminal 3 Optionnone of the above 4 Answer Admin terminal (Marks:1.0) (Negative Marks:0.25) Q.No. 6 On receiving the 6A/7A entries on BOLT the custodians can OptionReject the trade 1 OptionAccept the trade 2 OptionAttach their comments to the trade 3 Optionall of the above 4 Answer all of the above (Marks:1.0) (Negative Marks:0.25) Q.No. 7 BOLT system started in the year Option1992 1 Option1993 2 Option1994 3 Option1995 4 Answer 1995

(Marks:1.0) (Negative Marks:0.25) If there are no trades in the last 15 mins the _____ price would be the closing Q.No. 8 price of that particular scrip Optionlast traded 1 Optionopening 2 Optionprevious day's closing 3 Optionnone of the above 4 Answer last traded (Marks:1.0) (Negative Marks:0.25) The members are allowed to have purchase and sell position in single ?Z? group Q.No. 9 in a settlement OptionRs. 25 lacs 1 OptionRs. 50 lacs 2 OptionRs. 100 lacs 3 OptionRs. 10 lacs 4 Answer Rs. 25 lacs (Marks:1.0) (Negative Marks:0.25) Q.No. The pending orders window is invoked when the trader presses 10 OptionF1 1 OptionF2 2 OptionF3 3 OptionF4 4 Answer F4 (Marks:1.0) (Negative Marks:0.25) Q.No. Members are not allowed to enter into principal-to-principal orders with their 11 clients. OptionTRUE 1

OptionFALSE 2 Answer FALSE (Marks:1.0) Q.No. 12 Option1 Option2 Option3 Option4 Answer Q.No. 13 Option1 Option2 Option3 Option4 Answer Q.No. 14 Option1 Option2 Option3 Option4 Answer Q.No. (Negative Marks:0.25) Whatis the number of recommenders required for membership to the Exchange? None One Three Two Two (Marks:1.0) (Negative Marks:0.25) In a private limited company, the directors of the company who are members shall hold ___ % of the issued capital of the company. 25 33 51 66 51 (Marks:1.0) (Negative Marks:0.25) The application for a remisier should be sent to the ____________ department. Trading Membership Administration Finance Membership (Marks:1.0) (Negative Marks:0.25) The Companies Act deals with the various aspects relating to ______

15 Option1 Option2 Option3 Option4 Answer Q.No. 16 Option1 Option2 Option3 Option4 Answer Q.No. 17 Option1 Option2 Option3 Option4 Answer

management. SEBI Exchange Company Broker Company (Marks:1.0) (Negative Marks:0.25) SCRA gives the Central Government jurisdiction over Stock Exchanges Contracts in securities Listing of securities on stock exchanges all of the above all of the above (Marks:1.0) (Negative Marks:0.25) The powers under the SEBI Act and the Depositories Act is mostly administered by RBI Company law board BSE SEBI SEBI (Marks:1.0) (Negative Marks:0.25)

Q.No. The Securities and Exchange Board of India is 18 OptionA body corporate having perpetual succession and a common seal 1 OptionA subsidiary of Reserve Bank of India 2

OptionA subsidiary of Government of India 3 OptionCo-operative organisation 4 Answer A body corporate having perpetual succession and a common seal (Marks:1.0) (Negative Marks:0.25) Q.No. In case of partnership firm, membership requirements of stock exchange apply 19 to a minimum ___ partners Option2 partners 1 Option3 partners 2 Option1 partner 3 Option4 partners 4 Answer 1 partner (Marks:1.0) (Negative Marks:0.25) Q.No. Order that is matched is a passive order 20 OptionTRUE 1 OptionFALSE 2 Answer FALSE (Marks:1.0) (Negative Marks:0.25) Q.No. Order can be modified till they are notfully traded 21 OptionTrue 1 OptionFALSE 2 Answer True (Marks:1.0) (Negative Marks:0.25) Q.No. How Many groups are listed in BSE system : 22 OptionA,B1,B2 1 OptionA,B1,B2,Z,F,T,G 2 Option- A and B1

3 OptionNone of above 4 Answer A,B1,B2,Z,F,T,G (Marks:1.0) Q.No. 23 Option1 Option2 Option3 Answer Q.No. 24 Option1 Option2 Option3 Answer Q.No. 25 Option1 Option2 Option3 Option4 Answer (Negative Marks:0.25) There are two types of entities in the whole sale gilt system Trading members and Remisiers Trading members and Sub-brokers Trading members and Participants Trading members and Sub-brokers (Marks:1.0) (Negative Marks:0.25) A Person seeking membership of the exchange should have relevant experience of 2 years 3 years 4 years 2 years (Marks:1.0) (Negative Marks:0.25) Common Size Balance Sheet expresses each item as a percentage of Total Assets Total Sales Total Income Total Expenses Total Assets (Marks:1.0) Q.No. Inventory includes : 26 OptionRaw Materials 1 (Negative Marks:0.25)

Option2 Option3 Option4 Answer Q.No. 27 Option1 Option2 Option3 Option4 Answer Q.No. 28 Option1 Option2 Option3 Option4 Answer Q.No. 29 Option1 Option2 Option3 Option-

Work-in-progress Finished Goods All of these All of these (Marks:1.0) Current Ratio : Current Assets/Total Liabilities Current Liabilities/ Current Assets Current Assets / Current Liabilities Total Assets / Total Liabilities Current Assets / Current Liabilities (Marks:1.0) (Negative Marks:0.25) Acid Test Ratio equals Current Assets - Current Liabilities Total Assets - Current Liabilities Fixed Assets - Current Liabilities Quick Assets - Current Liabilities Quick Assets - Current Liabilities (Marks:1.0) Gilt funds invest in Government securities Tbills Bonds Equity (Negative Marks:0.25) (Negative Marks:0.25)

4 Answer Government securities (Marks:1.0) (Negative Marks:0.25) Q.No. The adjournment cost shall be charged by the Arbitral Tribunal from : 30 OptionApplicant 1 OptionRespondent 2 OptionParties requesting adjournment 3 OptionBoth Applicant & Respondent 4 Answer Parties requesting adjournment (Marks:2.0) (Negative Marks:0.5) Q.No. Touchline 31 Optionto monitor price movementsof scrips in market 1 Optionto monitor index movements 2 Optionto monitor sale price 3 Optionto monitor last trded price 4 Answer to monitor price movementsof scrips in market (Marks:2.0) (Negative Marks:0.5) Q.No. The odd lot trding takes place in 32 Optiontrade to trade basis 1 Optionnetting basis 2 Optionjobbing basis 3 Optionall of the above 4 Answer trade to trade basis (Marks:2.0) (Negative Marks:0.5) Q.No. What is Trigger rate. 33

Option1 Option2 Option3 Option4 Answer Q.No. 34 Option1 Option2 Option3 Option4 Answer Q.No. 35 Option1 Option2 Option3 Option4 Answer

The rate at which the stop loss order should be issued in the BOLT. The rate at which market order gets executed. Ths closing price of the scrip for a day. The scrip rate applicable only during the post closing session. The rate at which the stop loss order should be issued in the BOLT. (Marks:2.0) (Negative Marks:0.5) Intra day trading volume should not exceed ______ times base capital 33.33 44.44 55.55 66.66 33.33 (Marks:2.0) (Negative Marks:0.5) The auctions reports can be downloaded during report downloading session & login session of the subsequent day. Only during log in session. Only during auction report downloading session. No such restrictions. Any time during trading hours. report downloading session & login session of the subsequent day. (Marks:2.0) (Negative Marks:0.5) Trader orders are returned due to a) scrip or company is suspended after the order has been entered b) member or trader has been suspended after the order is entered c) unmatched orders with retention status EOSESS of the continuos session

Q.No. 36

Optiononly a 1 Option- only b

2 Optiononly c 3 Optiona,b & c 4 Answer a,b & c Q.No. 37 Option1 Option2 Option3 Option4 Answer (Marks:2.0) (Negative Marks:0.5) The system will flash warning messages, when the turnover of member reaches t 60%, 70% and 90% of the intra-day trading limit 20%, 40% and 90% of the intra-day trading limit 50%, 70% and 90% of the intra-day trading limit None of above None of above (Marks:2.0) (Negative Marks:0.5) Voting rights of the Members are restricted to the number of membership right held by the member.

Q.No. 38 OptionYes 1 OptionNo 2 Answer Yes Q.No. 39 Option1 Option2 Option3 Option4 Answer Q.No. 40

(Marks:2.0)

(Negative Marks:0.5)

The maximum number of members of the Exchange is decided by The Governing Board of the Exchange Members of the Exchange in The General Meeting The Executive Director A committee appointed for the purpose Members of the Exchange in The General Meeting (Marks:2.0) (Negative Marks:0.5) A sub-broker may advertise only with permission of :

Option1 Option2 Option3 Option4 Answer Q.No. 41 Option1 Option2 Option3 Option4 Answer Q.No. 42 Option1 Option2 Option3 Option4 Answer Q.No. 43

Member With Permission of SEBI With Permission of Exchange None of the above With Permission of Exchange (Marks:2.0) (Negative Marks:0.5)

A sub-broker may advertise only with permission of : Member With Permission of SEBI With Permission of Exchange None of the above With Permission of Exchange (Marks:2.0) (Negative Marks:0.5) The Securities Appellate Tribunal shall have, for the purposes of discharging their functions under the SEBI Act, the same powers as are vested in a Tribunal Court a Civil Court a High Court None of the above a Civil Court (Marks:2.0) (Negative Marks:0.5) The owner of securities held through a depository may convert the securities into physical certificate by giving request to the issuer company/ Securities held in dematerialised form cannot be reconverted into physical form

OptionTRUE 1 OptionFALSE 2

Answer TRUE Q.No. 44 Option1 Option2 Option3 Option4 Answer Q.No. 45 Option1 Option2 Option3 Option4 Answer Q.No. 46 Option1 Option2 Answer (Marks:2.0) (Negative Marks:0.5) Any loss caused to the beneficial owner due to the negligence of the depository or the depository participant the depository shall indemnify such beneficial owner the issuer shall indemnify such beneficial owner the depository participant shall indemnify the beneficial owner the Insurance company shall indemnify the beneficial owner the depository shall indemnify such beneficial owner (Marks:2.0) (Negative Marks:0.5) Written consent of clients is required only for _________ transactions. Principal to principal Delivery crossed deals Negotiated deals Principal to principal (Marks:2.0) (Negative Marks:0.5)

Acorporate manager cannot modify order details if it exceeds the branch order value limitset for the day if it preceeds the branch order value limitset for the day if it exceeds the branch order value limitset for the day (Marks:2.0) (Negative Marks:0.5) Members are allowed Intra day trading Limit (IDTL) of ____times of their deposited capital

Q.No. 47 Option20 1 Option75 2 Option- 15

3 Option10 4 Answer 75 (Marks:2.0) Q.No. 48 Option1 Option2 Option3 Option4 Answer Q.No. 49 Option1 Option2 Option3 Option4 Answer Q.No. 50 Option1 Option2 Option3 Option4 Answer (Negative Marks:0.5) Sell order in the stop loss book gets triggerred when the last traded price reaches or falls below the trigger price of the order the opening price traded reaches or falls below the trigger price of the order theclosing price reaches or falls below the trigger price of the order all of the above the last traded price reaches or falls below the trigger price of the order (Marks:2.0) (Negative Marks:0.5) Circuit filter limit applied by the Exchange on 54 scrips which forms part of Sensex and Nifty or in which derivatives products are available is 20% 10% 8+8 % no circuit filters no circuit filters (Marks:2.0) (Negative Marks:0.5) What is the present value of Rs6000 payable 3 years hence ,if the interest rate is 5% p.a. 5183.01 5183.02 7894 5083.12 5183.02 (Marks:3.0) (Negative Marks:0.75)

Q.No. 51 Option1 Option2 Option3 Option4 Answer Q.No. 52 Option1 Option2 Option3 Option4 Answer Q.No. 53 Option1 Option2 Option3 Option4 Answer

BOLT terminal gets locked if the trader has exceeded his traderwise limits. The 5 attempts to log in with wrong password The online suspension of TWS by admin terminal. The TWS32.exe The 5 attempts to log in with wrong password (Marks:3.0) (Negative Marks:0.75) Whether Trader can save Hourly Static s ? Yes No The same is automatically displayed Allowed only for admin terminal user. Yes (Marks:3.0) (Negative Marks:0.75) Profiled Baskets are stored in a file named ? Basket.Mas BktOrd Bkt Trd None of above Basket.Mas (Marks:3.0) (Negative Marks:0.75)

Q.No. How to Square Off /Repeat a Basket Order ? 54 OptionExecuted basket has to be saved and uploaded through Batch upload entry 1 Option- Automatically by pressing button

2 OptionManually has to be created Batch 3 OptionNone of above. 4 Answer Executed basket has to be saved and uploaded through Batch upload entry (Marks:3.0) (Negative Marks:0.75) Q.No. What is the time period for filing the claim against the Member who has been 55 declared a defaulter ? Option6 Months 1 Option12 Months 2 Option24 Months 3 Option36 Months 4 Answer 6 Months (Marks:3.0) (Negative Marks:0.75) Q.No. The participants in the whole sale debt segment are 56 OptionBanks & Financial Institutions 1 OptionCorporate Bodies 2 OptionLegal entities 3 OptionAll three 4 Answer All three (Marks:3.0) (Negative Marks:0.75) Q.No. The participants in the whole sale debt segment are 57 OptionBanks & Financial Institutions 1 OptionCorporate Bodies 2 OptionLegal entities 3 OptionAll three 4

Answer All three (Marks:3.0) Q.No. 58 Option1 Option2 Option3 Option4 Answer Q.No. 59 Option1 Option2 Option3 Option4 Answer Q.No. 60 Option1 Option2 Option3 Option4 Answer (Negative Marks:0.75) A beneficial owner may with the previous approval of the depository create a pledge in respect of a security owned by him through a depository hypothecate security owned by him through a depository Neither (a) nor (b) Both (a) and (b) Both (a) and (b) (Marks:3.0) (Negative Marks:0.75) A penalty of suspension of registration of a stock-broker may be imposed if: The stock broker is guilty of misconduct The stock broker fails to resolve the complaints of the investors The stock broker does not follow the code of conduct All of the above All of the above (Marks:3.0) the depository shall have voting rights in respect of securities held by it as a registered owner have voting rights in respect of securities held by it as a beneficial owner Both (a) and (b) None of the above have voting rights in respect of securities held by it as a beneficial owner (Negative Marks:0.75)