Practice Set - 3 | Practice Set | NISM Series VIII: Equity Derivatives Certification Examination

Question 1

Which scenario indicates incorrect classification of derivative income?

Question 2

Which condition may reduce audit requirement?

Question 3

Which factor increases taxable income unintentionally?

Question 4

A trader delays filing return to carry forward losses. This leads to:

Question 5

Which practice ensures long-term tax compliance?

Question 6

Which factor determines accurate profit calculation?

Question 7

Which method ensures consistency in financial reporting?

Question 8

A trader uses incorrect turnover method. Impact is:

Question 9

Which scenario reflects aggressive tax evasion?

Question 10

If losses are carried forward but not declared earlier, they become:

Question 11

Which document is least useful for tax computation?

Question 12

If a trader has both profits and losses across trades, turnover considers:

Question 13

Which scenario results in over-reporting of income?

Question 14

Which situation reflects improper accounting practice?

Question 15

If turnover is incorrectly calculated as total contract value instead of absolute P&L, the impact is:

Question 16

A trader reports high expenses without supporting documents. This may result in:

Question 17

If advance tax is underpaid, the trader must pay:

Question 18

If a trader reports very low income compared to turnover, tax authorities may:

Question 19

A trader avoids audit by underreporting turnover. This is:

Question 20

If turnover is high but books are not maintained, it leads to:

Question 21

If a trader does not reconcile contract notes with accounts, it leads to:

Question 22

Which expense is allowed only if directly related to trading?

Question 23

A trader misreports turnover to avoid audit. This can result in:

Question 24

A trader includes personal expenses as business expenses. This leads to:

Question 25

Practice Set - 3