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Practice for the NISM Mutual Fund Exam with NISM VA Mock Test

Cracking the NISM Series VA isn’t everyone’s cup of tea.It’s daunting, right? Well, fear not. I’m here to guide you through the maze with proven strategies and insights.This blog post is your treasure map to acing the NISM Series VA mock test.Expect to uncover secrets to success, one paragraph at a time.Dive in, and let’s conquer this together.

Master NISM VA Mutual Fund Distributor Exam: Study Smart, Not Hard with Recent NISM VA Mock Test

1. Introduction

The NISM Series V A: Mutual Fund Distributors Certification Exam is a mandatory NISM certification exam for those persons who wish to get registered with AMFI. It also very useful and sometimes a pre-requisite for employees of Banks, MF distribution companies etc.

There isn’t any doubt that, NISM Series VA – Mutual Fund Distributors certification examination is one of the most sort after examinations & so to increase the chances of our students to pass the NISM exam, we, at Mock Test Channel have developed a strategy of three key areas –

1) An updated question bank, which has been updated by our Knowledge Management team as per NISM 2024 syllabus
2) Revisionary tests, which will help you in the last minute preparations
3) An examination pattern, which replicates the “real feel” of the NISM exams

2. Lets Understand NISM VA Mutual Fund Distributor Exam and NISM VA Mock Test :

The Mutual Fund Distributors examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be no negative marking.

Specification	Details
Mode Of Examination	Online
Total number of questions	100
Pass Marks	50
Type Of Questions	Objective/MCQ
Time	120 minutes
Negative Marks	NO NEGATIVE MARKING

 

3. Frequently Asked Questions about NISM Series VA Mutual Fund Distributor Exam:

What are the different names of  NISM VA Exam ?

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What is Mutual Fund Distributor Exam?

The NISM VA examination seeks to create a common minimum knowledge benchmark for all persons involved in selling and distributing mutual funds including:

• Individual Mutual Fund Distributors
• Employees of organizations engaged in sales and distribution of Mutual Funds
• Employees of Asset Management Companies specially persons engaged in sales and distribution of Mutual Funds

The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.

Who can write / should write this NISM VA exam?

The following persons can take NISM-Series-V-A: Mutual Fund Distributors Certification Examination:

Associated persons including distributors, agents, brokers, sub-brokers or called by any other name, employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products. Interested students/professionals Any other individuals.

For whom is this examination mandated?

Please refer to NISM communiqué NISM/Certification/Series-V-A: MFD/2010/01 dated May 5, 2010 (in the ‘Circulars’ section).  NISM has specified this examination to be the requisite standard for associated persons including distributors, agents, brokers, sub-brokers or called by any other name, employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products.

 How can I register for NISM-Series-V-A: Mutual Fund Distributors Certification Examination?

Candidates can register with any of the following Test Administrators.1. National Institute of Securities Markets (NISM) https://certifications.nism.ac.in/nismaol/For registrations candidates may visit any of the above websites. After successful registration, candidates may select a test centre, date and time slot of their choice on the Test Administrator website. Candidates are required to follow further instructions available on the Test Administrator websites.

What is the fee structure?

The fees for “NISM-Series-V-A: Mutual Fund Distributors Certification Examination” is Rupees One Thousand Five Hundred only (Rs. 1500/-).

Is there a study material available for preparing for this examination?

You will receive a soft copy of the workbook/study material after enrolment for the examination. For non-receipt of soft copy of the workbook/study material, you may contact the respective Test Administrator:NISM: certification@nism.ac.in.

Mutual Fund Distributor Exam Course | NISM 5A

What topics are covered in NISM VA syllabus ?

Investing Environment:

·       Gain an understanding of the Indian economy’s parameters. Describe investors and their financial objectives.

·       Comprehend the terms “savings” and “investment.”

·       Discuss the various asset classes

·       Recognize the many types of investment risks.

·       Describe how to measure risk and how to manage it.

·       Recognize Behavioral biases in investment decisions 7. Recognize risk profiling

·       Describe the Asset Allocation Process

·       A comparison of the two ways – do-it-yourself and professional assistance

Mutual Funds: What They Are and What They Do?

·       Describe the mutual fund concept.

·       Know the different types of mutual funds.

·       Describe the Indian mutual fund industry’s growth.

India’s Mutual Fund Legal Structure:

·       Describe the mutual fund framework in India.

·       Recognize the fundamental components of a mutual fund

·       Recognize the Asset Management Company’s organisational structure.

·       Recognize the role and support activities of mutual fund service providers.

·       Describe AMFI’s role and function.

Regulatory and Legal Framework:

·       Describe the role of India’s regulators.

·       Discuss the role of India’s Securities and Exchange Board.

·       Understand how AMCs conduct due diligence on mutual fund distributors.

·       Describe the standards for investor grievance and redress (Explain about SCORES)

·       Be familiar with the AMFI Code of Conduct for Intermediaries.

Information on the Scheme:

·       Recognize the purpose, objective, and relevance of the Mandatory Documents

·       Describe the Mandatory and Non-Mandatory Disclosures

Practices in Fund Distribution and Channel Management

·       Describe the function and significance of mutual fund distributors.

·       Recognize the various types of mutual fund distributors.

·       Describe the various distribution modes.

·       Recognize the requirements for becoming a Mutual Fund Distributor.

·       Describe how a mutual fund distributor earns money.

·       Understand the SEBI-mandated Commission Disclosure.

·       Describe the AMCs’ Due Diligence Process for Mutual Fund Distributors.

·       Explain the nomination process to agents and distributors, as well as the payment of commissions to nominees.

·       Describe the distributor change.

Net Asset Value (NAV), Total Expense Ratio (TER), and Unit Pricing:

·       Discuss the Principles of Fair Valuation.

·       Calculate the net assets and NAV of a mutual fund scheme.

·       Describe Dividends and Distributable Reserves.

·       Understand the concept of entry and exit load and how it affects NAV.

·       Understand the most important accounting and reporting requirements for mutual funds.

·       Understand the Net Asset Value (NAV), Total Expense Ratio (TER), and Unit Pricing for Segregated Portfolio

Taxation

·       Recognize the various taxes that may apply to mutual funds.

·       Gain a thorough understanding of capital gains, capital gains tax (long and short term), and indexation.

·       Know the difference between dividend income and dividend income tax.

·       Recognize the distinction between dividend distribution and capital gains taxes.

·       Understand the fundamentals of the Income Tax Act’s Gains and Losses Setting Off.

·       Be aware of the Securities Transaction Tax

·       Be aware of the tax benefits available to mutual fund investors under Section 80C of the Income Tax Act.

·       Learn about TDS (Tax Deducted at Source) in mutual funds.

·       Recognize the GST’s impact on mutual funds.

Investor Services

·       Explain the NFO Process.

·       Describe the New Fund Offer Price/Ongoing Subscription Price

·       Describe the many types of investment programmes and possibilities

·       Explain how mutual fund units are assigned to investors. 5. Describe the substance and frequency of investment Statements of Accounts.

·       Explain the various sorts of mutual fund investors.

·       Describe how to fill out a mutual fund application form.

·       Describe financial transactions involving mutual funds (purchasing, redeeming, and switching) 9. Describe cut-off time and time stamping

·       Explain the Know Your Customer (KYC) requirement for mutual fund investors.

·       Describe the various types of systematic transactions.

·       Describe how systematic transactions work on a practical level.

·       Describe the non-financial transactions that take place in mutual funds.

·       Discuss whether the status of special investor categories should be changed.

·       Describe the timelines for investor transactions.

Funds’ risk, return, and performance:

·       Recognize the broad and specific risk factors

·       Describe the variables that influence mutual fund performance.

·       Describe the Returns and Risk Drivers in Mutual Fund Schemes.

·       Recognize the Returns Measures

·       Understand the SEBI guidelines for mutual fund returns portrayal in India.

·       Describe the hazards of investing in mutual funds, with an emphasis on investors.

·       Recognize the Risk Indicators

·       Describe some provisions relating to credit risk.

Performance of Mutual Fund Schemes:

·       Describe how benchmarks work.

·       Compare and contrast the Price Return Index and the Total Return Index.

·       Determine the criteria for selecting an appropriate performance benchmark.

·       Explain how market benchmarks are used to assess the performance of equity funds.

·       Explain how market benchmarks are used to assess the performance of debt funds.

·       Explain how market benchmarks are used to evaluate other schemes.

·       Describe how quantitative measures of fund manager performance are calculated.

·       Define the term “tracking error”

·       Recognize the various sources of scheme performance disclosure (Scheme documents, AMFI and AMC website and Fund Fact Sheet)

Choosing a Mutual Fund Scheme:

·       Describe how to choose a scheme based on an investor’s needs, preferences, and risk profile.

·       Describe the various risk levels in mutual fund schemes.

·       Describe how to choose a scheme based on a mutual fund’s investing approach.

·       Describe how to choose a mutual fund scheme from a variety of AMCs or within a scheme category.

·       Understand how to choose options in mutual fund schemes.

·       Be aware of the Do’s and Don’ts while choosing mutual fund plans.

How can I appear for NISM VA mock test ? Where do I get sample questions for NISM Mutual Fund Distributors Certification Examination?

Click here to take a mock test.

I have passed NISM Mutual Fund Distributors Certification Examination, when will I receive the certificate?

Only the candidates who have produced their Income Tax Permanent Account Number (PAN) during registration would receive the NISM Certificate within two weeks of appearing for the examination.Candidates who produced other identification proofs would not receive the NISM certificate. They would receive only the temporary mark sheet at the end of the examination.

 

I have not provided my PAN information at the time of taking the certification examination. How do I obtain the certificate?

Candidates who have not provided their PAN information during registration may furnish their PAN details to the Test Administrator they have registered with anytime after taking the examination.  After receiving and verifying PAN details, the candidate will receive the certificate from the Test Administrator they have registered with.  No additional payments are necessary for obtaining the certificate.

I have passed NISM VA Mock Test Mutual Fund Distributors Certification Examination and also provided PAN details, however, I have not received a certificate. Whom should I contact?

 

For non-receipt of certificate contact the test administrator, you have registered with for this examination. The respective email ids are given below: NISM: certification@nism.ac.in

https://mocktestchannel.com/courses/mutual-fund-distributor-exam/

What is the validity period of the certificate?

The certificate will be valid for 3 years from the date of the examination.

How do I renew my certificate?

To renew your current certificate, you need to appear for NISM CPE for Mutual Fund Distributors or successfully pass the NISM Mutual Fund Distributors Certification Examination before the expiry of such certificate.