The keyword phrase is an interrogative clause, a type of sentence that asks a question. It is composed of multiple parts of speech rather than being one itself. "When" is an interrogative adverb questioning time. "Is" functions as a verb. "Veterans Day" is a compound proper noun acting as the subject. "Monday" is also a proper noun, representing a specific day of the week that is the subject of the inquiry.
The grammatical structure questions the temporal alignment between the two proper nouns, "Veterans Day" and "Monday." Veterans Day is a U.S. federal holiday with a fixed date of November 11, established to honor the signing of the armistice ending World War I. Unlike many holidays affected by the Uniform Monday Holiday Act, Veterans Day is statutorily set for this specific date, regardless of the day of the week it falls on.
Therefore, the condition posed by the query is met only in years when the calendar date of November 11 falls on a Monday. An exception exists for federal observance: if November 11 falls on a Sunday, the public holiday for federal employees and many organizations is moved to the following Monday. If it falls on a Saturday, the observance is typically moved to the preceding Friday. The practical answer is thus conditional upon the specific calendar year and the distinction between the historical date and the official day of observance.