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Practice Test Paper & Mock Test Of Nism Series

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National Institute of Securities Markets (NISM) is a public trust, established by the Securities and Exchange Board of India (SEBI), the regulator for securities markets in India. It is located in Navi Mumbai, India. Towards accomplishing the desire of Government of India and vision of SEBI, NISM has launched an effort to deliver financial and securities education at various levels and across various segments in India and abroad. To implement its objectives, NISM has established six distinct schools to cater the educational needs of various constituencies such as investor, issuers, intermediaries, regulatory staff, policy makers, academia and future professionals of securities markets. NISM seeks to add to market quality through educational initiatives. It is an autonomous body governed by its Board of Governors. An international Advisory Council provides strategic guidance to NISM.NISM brings out various publications on securities markets with a view to enhance knowledge levels of participants in the securities industry.

NISM is mandated to develop and implement online test certification for professionals employed in the Indian securities markets. NISM certification tests are designed to deliver financial and securities education at various levels and across various segments. There is no eligibility requirement with regards to age as well as educational qualification to take the NISM exam.

NISM Test or NISM module includes:

NISM-Series-I: Currency Derivatives Certification Examination

NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents Corporate Certification Examination

NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents Mutual Fund Certification Examination

NISM-Series-IV: Interest Rate Derivatives Certification Examination

NISM Series-V A: Mutual Fund Distributors Certification Examination

NISM Series-VI: Depository Operations Certification Examination

NISM-Series-VII: Securities Operations and Risk Management Certification Examination

NISM-Series-VIII: Equity Derivatives Certification Examination

Certified Personal Financial Advisor (CPFA) Examination

The tests aim to impart working knowledge to the candidates on the basics of concerned markets, like currency derivatives markets, interest rate derivative markets, mutual funds, asset management, financial planning, securities market, depository systems, regulatory framework and the ability to analyze and evaluate different financial products and provide effective financial advisory.

Intelivisto, in-line with the objectives of SEBI & NISM, have already started taking different measures for financial education among the masses and budding professionals. These measures are in form of various Securities Market Certification practice tests and Seminars & Workshops on related subject-matters.

Intelivisto.com offers the NISM mock, chapter wise and full length online test for the preparation of NISM exams. Tests designed by Intelivisto experts are as per the parameters set by apex securities market institute NISM. These tests feature 1000 – 1500 questions. Tests carry the same pattern and testing mechanism as set for NISM online tests. Full length tests cover the questions from units in same ratio as set for respective NISM test and analysis of aspirants performance with detailed report at a microscopic level with intelivistos assessment tools.

Can Singapore Private Banking Replace Swiss Private Banks

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Singapore private banking has grown massively over the past decade. Assets under management at Singapore private banks have grown to around 300Bn, 6 times what they were 10 years ago. It is estimated that Singapore manages around 5% of the world’s private wealth, while Swiss private banking manages around a quarter.

Singapore has benefited from tight bank secrecy regulation, in addition to a rise in the number of Asian millionaires, especially the type that want to invest with private banks and financial instruments rather than in property.

Yet in response to demand from the G20 group of developed countries, Singapore has promised to rethink its ultra private secrecy laws. Like Switzerland, Singapore has to walk the tightrope between keeping its sovereignty and international acceptance of its laws and banks.

One of the reasons why Singapore has grown is because it already was a large financial center in its own right. Unlike smaller tax havens and dependencies of other countries which have been accused of ”inventing” laws to benefit from capital flight, Singapore is a long-standing trading hub and center of international financial settlements.

There are several arguments in favour of Singapore keeping its privacy laws. Many private banking clients in Singapore are very powerful people among neighbours like China, Indonesia and Thailand. It’s in their interest to ensure that Singapore bank secrecy is not relaxed. Furthermore, Singapore is an international financial center – it cannot be blackmailed in the same way as other jurisdictions.

However Singapore has made concessions, and may not necessarily see its future in harbouring Western tax evaders. Singapore has signed TIEAS with a number of countries and promised to adopt article 26 of the OECD model tax convention on information exchange over tax matters.

After Swiss banking secrecy was put under the spotlight, it was widely reported that bankers were urging a massive flight of capital to Singapore, where bank secrecy rules still held strong. But in reality, basing any structure on bank secrecy is like building a house on a fault line, it’s bound to change. The smartest investors instead used techniques which do not depend on bank secrecy in any single country.

Savvy private banking clients are now using distinct structures which operate independent of bank secrecy such as investing through trusts or trust companies.

Further, the reasons for banking in an offshore centre like Switerland do not depend entirely on tax. In fact the biggest reason is security. Hundreds of banks have been going under in the US, not Switzerland. Investors are also escaping from currency devaluations, civil forfeiture and frivolous lawsuits.

Singapore wealth management is certainly growing in sophistication, but it is still in a learning phase. During the mid 2000’s when Singapore’s private banking industry was growing rapidly, it was alleged that ther were not enough bankers to meet demand. Singapore private banks were instead employing local hairdressers and carsalesmen with good people skills and turning them into private bankers.

Singapore private banking is modelled closely on Swiss private banking, even down to its family trust law. In terms of weathering geo-political events like the war on bank secrecy, Singapore may have to follow the Swiss lead also.

Financial Advice Why Paying For it Saves You Money

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For many years, independent financial advisors in the UK have operated on a sales-driven commission model. This has meant that instead of being paid directly by those who came to them for impartial financial advice, they received a commission from the providers of the financial products as a marketing cost, with the advice function being a secondary consequence of the transaction.

While this offered short-term benefits for the cash-strapped consumer looking for financial advice, it brought a host of problems. The most obvious was that financial advisors were incentivised to recommend products that paid them attractive commission not necessarily those that were right for their clients.

This problem reached its peak with the pensions mis-selling scandal, which saw thousands of people move out of occupational pensions schemes when they would have been better advised to stay put. Although it first came to light many years ago, pensions mis-selling was still a problem as recently as 2008, when unscrupulous financial advisors were found to be encouraging investors to switch their pensions at a total cost of 43m per year.

As things stand, advisors can take commission when they sell products such as pensions or unit trusts, as well as a trail or recurring commission for every year the consumer holds the product. According to the FSA, these commissions amounted to an average of 5.6% of the sum invested. So while financial advice might be free at the point of sale, it certainly does have an impact on the performance of an investment and, more importantly, it is clear that the advice given to the consumer can never be truly impartial.

However, there is a different way, as Neil Shillito, Director of leading financial advisors SG Wealth Management, explains. Stephen Girling (my fellow director) and I wrote our business plan in 2000, and we felt that the best way to run a higher-end financial advice business was on the basis of what is now known as Customer Agreed Remuneration, he says. Put simply, what advice and service can I expect to be given, over how long and at what cost? People in the industry looked at us as though we were mad. But we were ten years ahead of the thinking at that time. Slowly, the Regulator and the industry have accepted the changes.

The firm has a completely transparent model, where clients are simply charged a percentage of their investment in return for first class advice and service, irrespective of and unrelated to investment products. It took time for the firms offering to catch on, but it soon proved popular. It was very tough in the early years, recalls Shillito. We didnt have enough clients to generate referrals, so we worked hard to build up our presence in the local community and demonstrate that our business proposition added real value to the right kind of client. Despite the horrendous market downturn in 2001/2003 as a result of the bursting of the “tech bubble”, we became profitable in our fourth year, and have become increasingly profitable ever since. Even the recessionary period of 2007/2009 has failed to make a dent in the robustness of our financial stability.

It seems the rest of the financial advice industry is now coming round to SGWMs way of thinking: from 2012, UK financial advisors will be forced to charge the consumer directly for their services. Is SGWM concerned about the influx of new competitors? No, not really, Neil replies. We have a ten-year head start in terms of what the FSAs RDR [Retail Distribution Review] will bring in 2012. Firms that are changing slowly or reluctantly are going to find it hard to adjust, while were already accustomed to delivering our financial advice this way. If anything, it will be good for us, because it will raise awareness and acceptance of the direct-charging model.

Changing Landscape of Financial System

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Changing Landscape of Financial System Ajay Singh Chief Executive Officer Forbes Technosys Ltd

-The Forbes platforms is highly efficient can be readily linked with the Aadhaar Enabled Payment System,- says Ajay Singh. In Conversation with Mohd Ujaley.

You have a strong focus on BFSI sector. How do you look at some of the key flagship programmes of the government such as Direct Benefit Transfer (DBT) and MNREGA? Forbes Technosys Ltd has a wide range of solutions for BFSI sector, all of which are designed with latest technology and by ensuring security standards that are in line with the changing landscape of banking and financial systems. To facilitate the cause of Financial Inclusion, MNREGA and DBT, we have developed an entire range of both centralised and doorstep delivery solutions, which can be utilised depending upon the requirements of the government, and the accessibility related factors in the remote areas. Forbes has installed centralised delivery solutions, which aim to provide solar energy to the rural areas and also provide wide range of banking and other services. A large number of other government schemes can also be linked through these solutions, thereby increasing the viability of these solutions. We are also delivering doorstep solutions which are specially designed for use by BCs in remote areas to provide basic banking services. To increase the scalability of Forbes Solution range, all the Forbes platforms have been provided with multifactor authentication systems, which can be readily linked with the Aadhaar Enabled Payment System (AEPS).

You have been working for the government for quite some time now. How has been your experience? Other than BFSI domain, we are catering to sectors like power and telecom. We have deployed self service bill payment kiosks in almost all the major power utilities and telecom companies.More than `1000 Crores is being collected annually through our systems. Forbes Technosys has Government (DGS&D) certified information kiosks and various G2C (Government to Citizen) kiosks, which are deployed at various Municipal Corporation and Government departments like Tourism, etc. Our ATVM (Automatic Ticket Vending Machines) and POET (Passenger Operated Enquiry Terminals) machines are active in majority of metro railway stations. Forbes Technosys has developed Enterprise Mobility solutions and Canteen Management applications. We cater to many PSUs, which have large employee base. We have also developed HR leave management solutions and tourism kiosk. These kiosks can act as point of information and action for employees of those organisations and also for the visitors. Forbes has also developed cash and cheque collection solutions for insurance companies, and tax departments. For environmental awareness, Forbes also has developed Carbon Footprint Kiosks, which are placed at various government institutions, thereby offering a unique experience to visitor, for calculating his Carbon footprint and making him aware for reducing these. We have developed self-service solutions, through which citizens can interact with the government departments.

In order to facilitate financial inclusion of people from remote areas across the country, government has developed the plan to introduce micro-ATM and Business Correspondents. Do you see this space as a business opportunity? As a first step towards driving these unbanked masses into the banking stream government is looking for various initiatives like micro-ATM, Business Correspondents, etc. This is indeed a noble initiative and it will help in bringing more transparency in the way financial subsidies are managed. However, the system has its own constraints. In my opinion, the best possible way to check leakages and ensure safety of the payment system is through Electronic Cash Transfer. In this case the beneficiary gets access to his entitlement only after authenticating himself through the Aadhaar Enabled Payment System.

Aadhaar is indeed a revolutionary step forward, however de-duplication of the data seems to be the biggest challenge. What is the best way forward? The data captured through the Aadhaar System should be linked with different government organisations like banks, NIC, Police department, Municipal Corporation, RTO etc., for maximum advantage. The data captured should be fragmented and disseminated to the involved government departments. The government should also promote and deploy self service platforms and solutions, which are based on biometric authentication along with user account details, this will certainly lead to more efficiency and transparency.

Importance Of Senior Citizens Care & Assistance

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Seniors have it more difficult than other groups. While young people may suffer financially, they can at least get a job. For a senior, jobs are often out of the question. You basically have to live on what you have and that it.

Every health facility wants to hire nurses with a certified degree no matter for which nursing jobs they are applying for. Nursing assistant jobs are not very difficult to find in the US because their demand has increased considerably in the past decade. All you have to do is decide what exactly you want to do and you can apply for a course which at the most takes one or two years.

Studies have shown that seniors those are helped or get senior citizens assistance are happier and live longer than others who live alone or with estranged families. It is a simple truth that when you have attentive care and pleasant company you tend to overcome the pitfalls of aging more successfully.

For those who have been independent most of their lives the idea of assisted living and senior citizens assistance may take some getting used to but there is a far greater alternative that can give the senior more of an outlet to enjoy their lives while still maintaining their independence with a little help.

As we age, the tasks associated with daily living become more onerous. This has resulted in the creation of a variety of living options for seniors that reduce some of that burden. Assisted living is one such option, one that is becoming very popular these days.

These senior citizens assistance communities typically offer meal service, housekeeping, social activities, medication assistance, and transportation for medical appointments and other pleasure trips for seniors.

Many senior citizens or people with disabilities or injuries make use of assisted technology-tools, products, or kinds of equipment that help people perform tasks and activities.

An assisted living facility needs to be considered when an elder loved one is unable to take care of themselves in their activities of daily living (ADLs). A nursing home is a practical option when other attempts to safely maintain your elder loved one at home have been exhausted.

One of the benefits of AL is that it takes care of many of the needs of seniors, while still giving them a sense of freedom. They help prepare meals, assist with medication dispensing, do periodic housekeeping, and even help manage the finances of the elderly.

Aging is not fun for anyone, but you can make the process better and help senior citizens by planning for providing senior citizens assistance and donate to senior citizens.