Correct answer: (a) I and II only
Explanation
- A
I and II only
I and II only. India is a giant in global equity-option volume, and Indian market cap overtook Hong Kong at one point. III fails: SEBI exists and has acted on unregistered advisors and F&O risk.
- B
II and III only
II and III only. III is false.
- C
I and III only
I and III only. That keeps the ‘no regulator’ line.
- D
I, II and III
All three. III is the planted error.
Summary. Official Set A key is (a) I and II only. Indian exchanges have accounted for a very large share of global equity-option contracts (I). Listed Indian market value overtook Hong Kong’s in 2024 (II). III is false: SEBI is the regulator; it warns on derivatives and acts against unregistered investment advisors. So I and II, not I and III.
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