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Question 1

Which of the below statements are incorrect with respect to the Stock brokers?
1.The transaction entered cannot be cancelled or made invalid except in the case of fraud, misrepresentation or in case of a material mistake. 
  2. The stock broker needs to issue a contract note for every transaction, specifying whether he is acting as principal or agent. 
3.While buying or selling securities as a principal for the clients the stock broker has to obtain the consent of SEBI. 
4.The stock brokers to be registered with Companies act 2013 in order to function as brokers. 

Correct! Wrong!

Question 2

Which of the following statements are incorrect in respect of Stock Brokers?
1.) Stock broker may act as principal or agent. It is acting as principal when it trades for its own account. It is acting as an agent when it executes orders on behalf of its clients.
2.) For each transaction, broker has to issue a debit note.
3.) A broker has to obtain consent of its client while buying or selling securities as a principal.

Correct! Wrong!

Question 3

An applicant may, being aggrieved by the decision of the Board regarding grant of ‘certificate of registration of broker’ may apply within a period of how many days from the date of receipt of such intimation to the Board for reconsideration of its decision?

Correct! Wrong!

Question 4

Which of the following statements are not correct with respect to Stock brokers  for grant of certificate?
1.He has the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge his activities.  
2.Whether he has any past experience in the business of buying, selling or dealing in securities.
   3.Whether he was subjected to disciplinary proceedings under the rules, regulations and bye-laws of a stock exchange with respect to his business a stock broker involving either himself or any of his partners, directors or employees. 
4.He has a net worth of Rs500 crore or more. 

Correct! Wrong!

Question 5

Section 15F of SEBI Act 1992 precribes penalty in case of default by stock broker. In case a broker fails to deliver security or fails to make payment due to the investor in the stipulated period as per SEBI (Stock Brokers and Sub Brokers) Regulations 2018, what is the maximum penalty?

Correct! Wrong!

Securities Market - Stock Broker

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