NISM Series VII Mock Test: Securities Operations and Risk Management
Up to 30 full-length mock tests of 100 questions each, built on the official syllabus, with an explanation for every answer.
About the NISM Series VII exam
NISM Series VII tests back-office operations in the securities market — trading, clearing and settlement, margins and risk management, the roles of exchanges and clearing corporations, and investor grievance redress.
Who should take it: Operations, settlement and risk-management staff of stock brokers and clearing members.
NISM Series VII exam pattern
| Questions | 100 multiple-choice questions |
|---|---|
| Total marks | 100 |
| Duration | 120 minutes |
| Passing score | 50% |
| Negative marking | −0.25 mark per wrong answer |
Indicative pattern. Exam bodies revise patterns — confirm the details in the latest official notification before your exam.
Syllabus covered in our NISM Series VII question bank
Our 50-question bank for NISM Series VII covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Introduction to the Securities Market6 practice questions
- Market Participants in the Securities Market6 practice questions
- Introduction to Securities Broking Operations8 practice questions
- Risk Management8 practice questions
- Clearing Process6 practice questions
- Settlement Process7 practice questions
- Investor Grievances and Arbitration5 practice questions
- Other Services Provided by Brokers4 practice questions
Free NISM Series VII sample questions
Try five questions from our bank. Each mock test gives you 100 like these, with your score, chapter-wise analysis and explanations at the end.
Which authority regulates financial services in International Financial Services Centres such as GIFT City?
- Ministry of Commerce
- RBI only
- SEBI only
- International Financial Services Centres Authority (IFSCA)
Show answer & explanation
Answer: D. International Financial Services Centres Authority (IFSCA)
IFSCA is the unified regulator for financial products and services in IFSCs.
Which of these is classified as a Qualified Institutional Buyer?
- A small partnership firm
- A SEBI-registered mutual fund
- A non-institutional HNI individual
- A retail individual investor
Show answer & explanation
Answer: B. A SEBI-registered mutual fund
QIBs include mutual funds, FPIs (other than certain categories), banks and insurers.
Which is the correct order of the trade life cycle?
- Order placement → order matching → trade confirmation → clearing → settlement
- Order matching → settlement → order placement → clearing
- Clearing → order placement → settlement → confirmation
- Settlement → clearing → order placement → matching
Show answer & explanation
Answer: A. Order placement → order matching → trade confirmation → clearing → settlement
Orders are placed and matched, confirmed, then cleared to determine obligations and finally settled.
VaR margin in the cash segment is designed to cover:
- All possible losses under any scenario
- The broker's operating expenses
- The likely loss on a position over a given time horizon at a specified confidence level
- Taxes payable on the trade
Show answer & explanation
Answer: C. The likely loss on a position over a given time horizon at a specified confidence level
Value at Risk estimates potential loss over a time horizon at a set confidence level.
Which bank function is linked to clearing corporations for the settlement of funds?
- Rural banks lending to farmers
- Central bank currency issuance
- Clearing banks, through which members' funds pay-in and pay-out are made
- Investment banks underwriting IPOs
Show answer & explanation
Answer: C. Clearing banks, through which members' funds pay-in and pay-out are made
Clearing members keep settlement accounts with designated clearing banks.
NISM Series VII mock test plans
Every plan unlocks one full-length mock test per day of the plan. Prices include GST.
| Plan | Mock tests | Questions | Price |
|---|---|---|---|
| 10 Days | 10 mock tests | 1,000 questions | ₹199 incl. GST |
| 15 Days | 15 mock tests | 1,500 questions | ₹279 incl. GST |
| 20 Days Popular | 20 mock tests | 2,000 questions | ₹349 incl. GST |
| 30 Days Best value | 30 mock tests | 3,000 questions | ₹449 incl. GST |
Official study material
Links open the official website. We do not host or alter official material.
NISM Series VII mock test FAQs
How many questions are there in the NISM Series VII exam?
The NISM Series VII paper has 100 multiple-choice questions for 100 marks, to be completed in 120 minutes. This is the indicative pattern — always confirm it in the latest official notification.
Is there negative marking in NISM Series VII?
Yes. −0.25 mark per wrong answer (25% of the marks for that question). Our mock tests apply the same rule.
What is the pass mark for NISM Series VII?
You need 50% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series VII mock tests do I get?
One full-length mock test is unlocked for each day of your plan: 10, 15, 20 or 30 mock tests on the 10 Days, 15 Days, 20 Days or 30 Days plans. You can retake any unlocked test while your plan is active.
Are these the actual exam questions?
No. Every question is an original practice question written to match the official syllabus and the exam's style. Reproducing real exam questions is not permitted, and we do not do it.
Where can I get the official NISM Series VII study material?
NISM provides the latest workbook free of cost on its official portal after a short registration. The link is in the Official study material section on this page.