NISM VIII: Equity Derivatives Mock Tests

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FinanceInsights has created mock tests for the NISM Equity Derivatives VIII exam. Questions are based on NISM NISM Equity Derivatives VIII Workbook Version - September 25.

Here is a sample of 10 questions from the mock test created by FinanceInsights.

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1. 

During natural calamities such as floods, people store essential commodities like grains, vegetables and energy products (heating oil), etc. in large quantities (more than required). This results in rise in price of underlying assets. Returns from this is termed as ________ yield/return.

opportunity

convenience

incidental

None

2. 

Payoff on a position is the likely ______ that would accrue to a market participant with change in the price of the underlying asset at expiry.

a) profit

b) loss

a) or b)

None

3. 

Gamma measures change in _____ with respect to change in price of the underlying asset. This is called a _______ derivative of the option price with regard to price of the underlying asset.

beta; first

delta; second

delta; first

None

4. 

If the delta of a call option is 0.60, it means that every change of 1 rupee in the price of the underlying asset will lead to a change of ______ in the price of the call option.

6 paise

60 paise

Rs 6

None

5. 

Rohit expects the market to go up and hence, takes a long Nifty Futures position for one month expiry at Rs.22,250. The lot size of the contract is 25. The margin levied by the broker is 10%. How much margin amount does Rohit have to pay?

Rs. 56,625

Rs. 55,615

Rs. 55,625

None

6. 

Shares of ABC Ltd were trading at Rs. 100 in the cash market. Rohit wanted to buy the share but did not have money. He borrowed at the rate of 6% per annum. He held the shares for one year; he expects the company to give 200% dividend on its face value of Rs. 1. What will be the break even futures price per share for him?

Rs 100

Rs 104

Rs 106

None

7. 

Let's say you want to buy 1500 shares of ABC Ltd. The shares are traded at Rs.455 today, i.e. May 10, 20XX. However, you do not have the required funds today. One of your bank deposits will mature on June 20, 20XX and you plan to use those funds to buy the shares only on that date. To hedge this price risk, you can take a long position in a futures contract on ABC Ltd shares today. Let's say the futures contract expiring on June 29, 20XX is traded at Rs.457.30 (one lot = 1500 shares). Now suppose that on 20th June you are able to purchase the 1500 shares in the spot market at Rs.520. Suppose that the futures price at that moment is Rs.521.20. What is your net cost per share?

Rs. 455.10

Rs. 456.10

Rs.457.30

None

8. 

A person places a market buy order for 100 shares, and then decides to sell them immediately. Based on the bid-ask table provided, what will be his buy and sell price? What will be the bid-ask spread?

Buy: Rs 4.50; Sell: Rs 4; Bid-ask spread: 50 paise (cost)

Buy: Rs 3.70; Sell: Rs 4.50; Bid-ask spread: 80 paise (gain)

Buy: Rs 4.75; Sell: Rs 4; Bid-ask spread: 75 paise (cost)

None

9. 

Suresh wanted to liquidate his portfolio in the near future but he feared that the prices will fall in the near future. What can he do to protect his portfolio value?

go long index futures

go short index futures

None

10. 

A trader decided to enter into a futures contract. He expects the market to go up and so he takes a long Nifty Futures position for one month expiry at Rs.22,250. With a lot size of 25 and 10% initial margin implies that the trader pays Rs. 55,625 as initial margin. At the end of that day, Nifty futures contract closed at 22308.70. What is the trader's MTM position?

MTM loss for the day = Rs 1,468

MTM gain for the day = Rs 1,468

None

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The mock tests are meant to help the candidate prepare himself / herself for the NISM VIII Equity Derivatives Exam but does not ensure successfully passing the exam.

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