[0:06]Is video mein hum chapter 6 to 10 ke kuch questions dekhenge. Humare in five chapters ki weightage exam mein 35 marks ki hai. To total hum 35 questions dekhenge. Har ek chapter ki jitni weightage hai. Jaise 6th ki 10, 7th ki 10, 8th, 9th aur 10th ki 5 marks each. To utne hi question hum har ek chapter se dekhenge. Har ek question ke right side mein maine uska chapter number mention kiya hua hai. Taki jis chapter se aapke question jyada wrong ho rahe ho, aap use revise kar sakte ho. Pahla question hai, Who can trade in derivatives products? Any broker who is registered with SEBI. Any broker who is registered with SEBI for trading in derivatives products. Any member of a registered stock exchange. All of the above. To derivatives mein kaun trade kar sakta hai? Ek to use SEBI ke sath register hona chahiye aur uske sath woh derivative mein trading ke liye bhi eligible hona chahiye. Isliye correct answer hai option B. Any broker who is registered with SEBI for trading in derivatives product. Derivatives mein trading karne ke liye woh SEBI ke sath registered hai. When a stock which is part of the index has a stock split, it does not have an impact on the index. True or false? Agar kisi stock ka split ho gaya aur woh kisi index ka part tha, to index par koi asar aayega ya nahi aayega? Index par koi asar nahi aayega. Kyun? Kyunki jab bhi koi corporate action hota hai, split ho gaya, bonus ho gaya, kuch bhi hota hai, to strike price, position, yeh sab adjust ho jate hai. Index ki value par koi bhi impact nahi aayega. To yaha par hume diya bhi kya hai? It does not have an impact on the index. To yeh statement true hai, option A. Which of these is not included in the Indian equity derivatives markets? Derivative market mein kya include nahi hai? Option on individual stocks, option on equity market indices, futures on individual stocks, interest rate futures. Toh option individual stock par aur indices par dono included hai. Future bhi stocks aur indices dono par included hai. Kya included nahi hai? Interest rate futures. Option D. When ordinary cash dividends are declared, Call Options values will decrease. True or false? Ordinary cash dividend kise bolte hai? Jo 2% se kam hote hai. 2% se jyada valo ko extraordinary bolte hai. Humare audit dividend mein kya hota hai? Koi bhi strike price jo bhi adjustment honi hai, woh sab nahi hoti. Kewal extra ordinary, 2% se jyada ho, to hi automatically adjust hota hai. Ordinary mein humara adjust hoga nahi. Toh jo original strike price tha, wahi rah jayega. Lekin jab dividend milta hai, toh generally market mein share ka price gir jata hai. Kyun? Kyunki logo ko dividend ke jitna paisa toh mil hi jayega. Utne hi kam price mein woh stock ko kharidte hai. Toh strike price humara same raha. Stock ka price thoda sa gir gaya. Toh hamare call option ki intrinsic value thodi si gir jayegi. Call option ki intrinsic value kya hoti thi? Spot ka price minus strike ka price. Ab yeh thoda sa kam ho jayega. Toh humari intrinsic value kam ho jayegi. Isliye humare call option ki value thodi si decrease ho jayegi. Isliye yeh statement true hai, option A. Which member of a stock exchange is not a Trading member itself but clears and settles the trades of the Trading Members and institutional clients? A professional clearing member, a self-clearing member, a trading-cum-clearing member, custodial participant. Toh jo professional clearing member hota hai, woh dusron ke trades ko clear karte hai, khud ek trading member nahi hote. Option A. What happens to the unmatched portion of the order in an immediate or cancel (IOC) order? It will be added to the order book as a limit order. It will be executed on the next trading day. It will be executed in the next one hour. It will be cancelled. Toh immediate aur cancel order mein jo bhi unmeshed portion rah jata hai, woh turant cancel ho jata hai. Toh option D, it will be cancelled. As per SEBI's guidelines, derivatives trading takes place through _______. Online screen based trading system, curb trading, auction at public mandis, open outcry method in the trading ring. To India mein derivative training kiske through hoti hai? Online screen based. Option A. The cost incurred due to the BID-Ask spread is known as ______. Transaction cost, spread cost, margin cost, impact cost. Toh use impact cost kehte hai. Mr. X places a stop loss sell order on ABC stock with a trigger price of Rs. 350. The current market price of ABC stock is Rs. 370. The order will be released for execution ______.
[4:48]As soon as the market price of ABC touches Rs. 370. As soon as the market price of ABC touches Rs. 350. As soon as the order is placed in the system. If similar orders are available in the order book at Rs. 350.
[5:04]Toh stop loss order kab trigger hote hai? Jo bhi humara trigger price hai, jab woh aa jata hai. Option B. As soon as the market price of ABC touches Rs. 350. Which type of order will you place to buy/sell a certain quantity of a share at a specified price or better? Limit order, market order, good for day order, all or none order. Toh yeh limit order mein hota hai. Hum limit specify kar dete hai ki ya toh hume is price mein chahiye ya isse better price. Buy ka hai toh itne mein ya isse kam mein. Sell ka hai toh itne mein ya isse jyada mein. Option A. The money and securities which are deposited in a clients account ____. Can be attached for meeting the obligations of the broker on his proprietary account. Cannot be attached for meeting the obligations of the broker on his proprietary account. Can or cannot be attached depends on the decision of clearing corporation. None of the above. Toh jo client ki money hai aur khud ki money hai, unko segregate rakhna hota hai. Unko hum ek dusre ke margin ke liye use nahi kar sakte ya fir obligation ko meet karne ke liye use nahi kar sakte. Isliye option B, cannot be attached for meeting the obligations of the broker on his proprietary account. The clearing member is free to close out transactions of a trading member if ______. The trading member has not paid initial margin money. The trading member has not paid daily settlement dues. Both of the above. Toh initial margin na de ya fir mark to market margin na de, dono hi cases mein close ki ja sakti hai. Option C, both of the above. _______ means the maximum exposures in terms of number of options and futures contracts that an investor can hold on one side of the market. Outstanding limit, market limit, position limit, upper limit. Toh ise position limit kehte hai, ki kitna maximum exposure ek client le sakta hai. Option C, position limit. A clearing member has to deposit _______ to clearing corporation which forms part of the security deposit. Security deposit ke liye kitna amount jama karana padta hai? 50 lakhs, 100 lakhs, 150 lakhs, 300 lakhs. Toh 50 lakh jama karana padta hai. Option A. Exposure levels of clearing members are ______ correlated with the liquid assets maintained with the clearing corporation. Jitne asset jama karayi hogi, uske hisab se exposure level ka kya relation rahega? Positive, negative, not related, exponential. Positive relation rahega. Jitni asset aap jyada jama karaoge, utna hi exposure aap jyada le sakte ho. Option A, positively. Clearing corporation of an exchange guarantees settlement of exchange traded contracts. True or false? Toh clearing corporation as a counter party ki tarah act karti hai jo ki guarantee karti hai ki settlement hoga. Toh yeh statement true hai, option A, true. In the derivatives market, the mark to market margin is equal to the initial margin. True or false? Mark to market margin aur initial margin equal hote hai? True or false? Toh yeh statement false hai, dono alag hote hai. Initial margin toh aap starting mein jama karate ho. Aur mark to market margin kya hai? Ki jo daily basis par aapko profit ya loss ho raha hai, toh yeh dono alag hote hai. How can risk be controlled in the derivatives segment by the stock exchange? Stock exchange risk ko kaise control kar sakta hai derivative segment mein? By implementing an effective margin system, margin system ke through. By having a well organized control system and audit procedure, audit karke aur control system ko organized bana ke. By periodic evaluation of member position, member ne abhi kitni open position le rakhi hai usko evaluate karke. All of the above. Toh yeh saari hi cheeze karke woh risk ko control kar sakta hai, risk ko manage kar sakta hai. Option D, all of the above. Suppose you are a trading member and have bought 10 contracts of April series index futures and sold 3 contracts of April series index futures on your own account. What will be your exposure on these transactions? Humne 10 contracts buy kiye aur same 3 contracts humne bech rakhe hai. Toh humara net exposure kitna hoga? It will be grossed up to 13 contracts. It will be netted to 7 contracts. Higher of 10 and 3 i.e. 10 contracts. It depends on stock exchange decision. Toh jo humare khud ke trade hai, usko toh hum net kar sakte hai. Toh 10 minus 3, 7. It will be netted to 7 contracts. Option B. Value at risk calculations are done on the basis of _______. Best possible market conditions, ideal market conditions, volatility, 90% risk parameter. Toh value at risk calculation kiske base par hote hai? Ki market mein abhi volatility kitni chal rahi hai. Option C, volatility. Clearing member Mr. X focuses mainly on proprietary trading, while clearing member Mr. Y does not do any proprietary trading and does trade only for clients. If both have deposited the same amount of assets with clearing corporation, which of the following statement is true? Mr. X to kya hai? Kewal proprietary yaani khud ke liye trading karte hai. Aur Mr. Y kya karte hai? Khud ke liye nahi karte, lekin clients ke liye trading karte hai. Dono ne agar same amount deposit kiya hai, toh kisko jyada exposure milega? Basically hume below statements mein batana hai ki kaun si statement true hai. Mr. X enjoys a lower exposure limit than Mr. Y. Mr. X enjoys higher exposure limit than Mr. Y. Both of them enjoy the same exposure limits. Toh jo khud ke liye trading karte hai. Hume deposit kis kis type ke karane padte hai? Ek toh security deposit jo ki 50 lakh ka rahega. Uske sath humara kya rehta hai? Incremental deposit. Jo kya hota hai? 10 lakh per trading member jisko hum clear karte hai. Right? Toh first wala to kewal khud ke liye karta hai, yaani use 50 lakh deposit karana padega. Second wale ko kya karna padega? Khud ke liye nahi karta, fir bhi yeh 50 lakh toh jama karana padega. Plus jitne trading member ko clear karta hai, jaise do ko karta hai. 50 aur 20, 70.
[10:41]Yaani ki iska bachega 30. Toh kisko jyada exposure mil raha hai? X ko jyada mil raha hai? Mr. X enjoys a higher exposure limit than Mr. Y. Option B. Incremental Deposit: 10 lakhs for each additional trading member they clear. Derivative clearing members are required to maintain a net worth of minimum Rs. 5 crores. True or false? Minimum 5 crore ki net worth rakhni padegi. Toh yeh statement false hai. Kitni limit hoti hai? 3 crore ki limit hoti hai. For calculating the net worth of a clearing member, which of these is/are not considered? Fixed assets, pledged securities, membership card, all of the above. Toh net worth mein hum kya cheez calculate karte hai? Aisi cheeze jinko easily cash mein convert kar sakte hai. Toh fixed asset ho gayi, pledged security ho gayi, membership card. Yeh tino hi allowed nahi hoti. Humne non alloweable assets ki list dekhi thi. Fixed assets, Pledged securities, Member's card, unlisted securities, bad debts, prepaid expenses, intangible assets, other non-marketable assets. Yeh sab net worth ki calculations mein allowed nahi hoti, yeh subtract hoti hai. Option D, all of the above. The daily settlement prices of equity derivatives are decided by _______. Daily settlement price kaun decide karta hai? Clearing corporation, SEBI, Brokers association, RBI. Toh clearing corporation decide karta hai. Option A. The derivatives segment of a stock exchange is under the same governing council as the cash segment. True or false? Derivative segment aur cash segment ki same governing council hoti hai? True or false? Toh yeh statement false hai. Har ek segment ki apni alag governing council hoti hai. When the price of a future contract decreases, the margin account ______. Future contract ka price decrease ho gaya, kam ho gaya. Toh us case mein kya hoga? Of the seller of futures contract will be credited for the gain. Of the buyer of futures contract will be debited for the loss. Both a and b. None of the above. Humara ek contract tha, maan lo 100 rupees ke price par koi contract kar rakha tha. Abhi market price gir ke aa gaya 90 rupees. Toh buyer ko isme kya hoga? Buyer ko isme loss hoga. Aur seller ko isme profit hoga. Humne jab debit aur credit padha tha, toh jo bhi loss hota hai, woh humara debit side mein jata hai aur jo bhi gain hota hai, woh humara credit side mein jata hai. Toh seller ko humare profit ho raha hai, toh uske side mein toh credit hoga, credited for the gain. Aur buyer ke side mein loss hoga jo ki debit hoga, debited for the loss. Toh humari dono hi statement, both a and b, dono statement true hai. Option C. How should a seller of an option treat the premium received in his books of accounts? Income, expense, asset, liability. Toh seller of option ko kya milega? Starting mein premium receive hoga. Use kuch paisa mila hai, toh use apni books mein kis tarah se treat karna hai? Toh ise as a income treat kiya jata hai. Option A. At the time of final settlement, the seller of the option will recognize the adverse difference he paid to the buyer as ____ in his profit and loss account. Adverse ka meaning hai negative, yaani ki use loss hua hai. Toh woh apni profit and loss account mein use kis tarah se report karega? Expense, profit, loss, ya fir debt. Use loss hua hai, toh use as a loss hi treat karega. Option C. What is the rate of STT on the sale of an index or stock futures contract? Future ke case mein STT ka rate kya rehta hai? 0.01%, 0.02%, 0.05%, 0.1%. Toh yeh latest 1 October 2024 ke baad se 0.02% hai. Yeh book bhi update ho chuki hai. Toh correct answer hai 0.02%. A trader has a short position in a futures contract. If prices of this future contract increases, then the mark to market margin account of the trader will be ______. Credited for the loss, credited for the gain, debited for the loss, debited for the gain. Humari ek position hai, short position hai. Maan lo 100 rupees par humne sell kiya hai. Aur futures ke price increase ho gaye. Toh jisne bhi yeh sell kiya hai, usko kya hoga? Loss ho raha hoga. Loss ke liye use kya karna padega? Apne bank account se ya fir apne broker Zerodha ke bank account se use mark to margin account mein paisa jama karana padega. Jisme paisa jama hota hai, woh kis mein aata hai? Debit side mein aata hai. Aur jisse paisa nikalta hai, woh kis side mein aata hai? Credit side mein aata hai. Ab hume mark to margin account mein paisa jama karana hai aur usi ke respect mein question hai ki mark to margin account mein kya hoga? Debit side mein aayega. Aur hua kya hai? Loss hua hai. Short position the price badh gaya toh loss hua hai. Toh debited for the loss. Option C.
[14:54]Derivative brokers/dealers are expected to know their clients and to exercise care to ensure that the derivative product being sold by them to a particular client is suitable to their understanding and financial capabilities. Jo bhi derivative broker vagerah hai, unse expect hota hai ki woh apne client ko jante hai aur unhe aisa hi product bechenge jo ki unki financial capabilities ke according hoga. Toh yeh statement true hai ya false hai? Yeh statement true hai. There are many products in the market which give high returns in risk-free manner. True or false? Market mein aise bahut sare product hai jo ki high returns de dete hai risk-free manner mein. True or false? Toh yeh statement humari false hai. Aisa koi bhi product nahi hota jo ki high returns de aur usme risk involved na ho. Under which act/regulations is the suspicious transaction reporting required? SEBI insider trading regulation, FATCA, Anti Money Laundering (AML and Combating of Financial Terrorism (CFT) Regulations), Foreign Exchange management act. Toh suspicion transaction reporting kis act ke under aati hai? Anti Money Laundering. Option C. What does Customer Due Diligence (CDD) involve? Offering discounts to customers, providing investment guarantees, identifying and verifying the beneficial owner of a securities account, simplifying account opening process. Customer due diligence ka purpose kya hota hai? Ki customer ko accept kis policy ke base par karna hai? Uski proper identification KYC vagerah karani hai. Toh isliye humara correct answer kya aayega? Option C, identifying and verifying the beneficial owner of a securities account. The broker is compulsorily required to get a risk disclosure document signed by the client, at the time of client registration. True or false? Jab bhi client ko onboard kar rahe ho, toh us time par risk disclosure document ko client se sign karwana jaruri hai. True or false? Toh yeh statement true hai. Iske sath humare 35 questions pure hote hai. Aap check kar sakte ho ki aapke 35 mein se kitne questions correct hue. Agar aapke kisi bhi question se related kuch bhi doubts hai, aap mujhe comment karke puch sakte ho. Thank you guys.
