What is the correct description of ADR American Depository Receipt?

What is the correct description of ADR American Depository Receipt?
1). A certificate issued in the United States in lieu of a foreign security.
2). A certificate issued in India in lieu of a security in the United States
3). A certificate issued in the United States in lieu of an Indian security
4). A certificate issued in the Foreign in lieu of a security in the United States

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Other Questions

1. The minimum net worth stipulated by SEBI, required for a depository in India is ________. 

2. Which among the following is/ are correct regarding the functions of the Securities and Exchnage Board of India? I. It regulates the Securities market in India.  II. It prevents any kind of malpractices from taking place regarding trading of stocks.  III. It is responsible for dissemination of information regarding the capital market to the investors. 

3. Which of the following committee was associated with the definition of FDI & FII?

4. Which among the following is a service offered by the depositories in India? I. Maintenance of the record of securities held in the electronic form  II. Settlement of trades by delivery or receipt of securities from / in the beneficiary owner account  III. Pledging of dematerialized shares and facilitating loans against such securities 

5. How many stocks are present in the Sensitive Index?

6. Which of the following are promoters of National Securities Depositories Limited (NSDL)?

7. Commercial papers can be issued by which of the following?

8. What is the name of the measurement index of Bombay Stock Exchange?

9. What is the correct description of ADR American Depository Receipt?

10. ________ of the Securities Contract (Regulation) Act 1956 defines the securities as applicable in the capital market of India.