NISM Series VA

NISM VA Mock Test All-in-One (500 Questions)

“Boost your chances of acing the NISM Series VA: Mutual Fund Distributors Exam with our All-in-One Mock Test. Get access to updated question banks and realistic exam simulations designed to help you succeed.”

(Empower : The NISM Series-VA Mock Test Empowers you with knowledge)

0%
NISM V-A Mock Test 1

NISM V-A Mock Test 1

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 1

1 / 50

The day on which NAV is calculated by a fund is known as

2 / 50

Units from an open-ended mutual fund are bought

3 / 50

The NAV of each scheme should be updated on AMFI's Website

4 / 50

A call provision in a debt issue allows the issuer to

5 / 50

The Price/Earnings (P/E) Ratio is an important
measure of a company's anticipated
performance. It is calculated using:

6 / 50

The entity that SEBI does not regulate is

7 / 50

A fixed term plan series is

8 / 50

Equity derivative instruments are

9 / 50

The AMC of a mutual fund cannot 

10 / 50

The custodian of a mutual fund: 

11 / 50

A funds NAV is affected by

12 / 50

Distribution and sales practices are only partly regulated by SEBI at present 

13 / 50

The most suitable measure of fund performance for all fund types is

14 / 50

The trust that manages a mutual fund is
appointed by 

15 / 50

An Open-ended mutual fund is one that has:

16 / 50

The amount to buy 100 units of a scheme having a entry load of 1.5% and NAV of Rs. 20 each:

17 / 50

A close-ended mutual fund has a fixed:

18 / 50

After dividend declaration, unit-holders are
entitled to receive dividend within

19 / 50

Are Mutual Fund agents/distributors in India
required to pass any examination to qualify to sell
Mutual Fund Units

20 / 50

If 10-year government securities Neil 10% and a 10-Year fixed deposit in a company yields 12%, the yield spread is

21 / 50

Issuing and redeeming units of a mutual
fund is the role

22 / 50

A better performance than the return on index
is given by 

23 / 50

The additional yield required to account for the risk of default by the borrower is known as 

24 / 50

In the wholesale debt market, the largest proportion of trading is seen in

25 / 50

When computing NAV of fund SEBI requires
accrual of major expenses to be accounted

26 / 50

A high turnover rate for a fund indicates 

27 / 50

The greatest potential for growth in capital is offered by

28 / 50

A mutual fund owned by 

29 / 50

Shares of companies with large capital market
capitalisation

30 / 50

The highest authority among the following is
the 

31 / 50

It may not be possible to reinvest interest received at the same rate as principal. This is known as

32 / 50

If the NAV of an open-ended fund was Rs.16 at the beginning of the year and Rs.22 after 13 months, the annualised change in NAV is

33 / 50

The following need not be covered in a Key Information Memorandum

34 / 50

The offer document is not a legal document 

35 / 50

Market capitalisation of a company is
calculated by multiplying the number of
outstanding shares by

36 / 50

An investor in a closed-ended mutual fund can get his/her money back by selling his/her units

37 / 50

An offer document contains an AMC's
investor grievance's history for the past

38 / 50

'Key Information Memorandum' is

39 / 50

Technical analysis guides the decision on 

40 / 50

A compliance officer

41 / 50

Debt securities bought at a discount to their face value are generally

42 / 50

A company whose earnings are strongly related to the state of economy is known as

43 / 50

A put provision in a debt issue allows

44 / 50

A Gilt Fund is a special type of fund that invests

45 / 50

Commercial Paper is issued by Corporate bodies

46 / 50

Of the following fund types the highest risk is associated with

47 / 50

The sponsor of a mutual fund may be
compared to 

48 / 50

The investment policies listed out in the offer
document of a fund do not include

49 / 50

NAVs of equity funds are not affected by

50 / 50

The maximum load that a fund can charges determined by the

Your score is

The average score is 59%

0%

Mock Test Set-2

/50
NISM V-A Mock Test 2

NISM V-A Mock Test 2

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 2

1 / 50

Which expenses can be changed by the AMC to a mutual fund scheme?

2 / 50

Exit loads are generally lower for large investors

3 / 50

Time stamping needs to start with serial no 1 on every business day.

4 / 50

Time stamping arrangement is must at...

5 / 50

Liquid funds can not charge management fees of funds parked in a short term bank deposits

6 / 50

The information on minimum investment amount, investor's service centers, and how to make purchase is provided in.

7 / 50

Fundamental analysts are called "Chartists"

8 / 50

An investor is doing a liquid investment, fund is available and time is 12.30. NAV would be applicable for the _______

9 / 50

An investor looking for capital appreciation, having a high risk tolerance
and long tem horizon must invest in

10 / 50

Index funds are safer because their NAV does not go down

11 / 50

Identify the True statement/s:

A) An Addendum must accompany the KIM   B) Addendum is considered to be a part of the Scheme related documents

12 / 50

The lower risk among equity fund is

13 / 50

A mutual fund distributor is paid commission for.. 

14 / 50

Which of the followings are least comparable

15 / 50

STT is charged on

16 / 50

An investor invested Rs.100000/- in a 370 days FMP and got Rs. 107750/-, what is capital gain in this case?

17 / 50

Returns in international fund is dependent on 

18 / 50

Capital gain or loss from mutual fund investment are classified as a short
term investment are if sold within

19 / 50

Which of the followings is physical asset?

20 / 50

In case of liquid fund, investment less than 3 months old. which return would be calculated?

21 / 50

Which of the following is true 

22 / 50

Which of the following document is not require to be submitted by charitable trust to invest in MF?

23 / 50

If a third party payment is to be made for subscribing to a mutual fund scheme, then which of the following is/are essentially required?

24 / 50

Probabilities of losing money in equity is negligible if investment horizon is for at least

25 / 50

In case of equity fund, if fund has higher allocation to cash in bullish market the performance is likely to.. 

26 / 50

A Trader believes that he can always outperform the market. This is an example of __________.

27 / 50

If absolute return was 2.4% over 50 days, annualized return would be____________

28 / 50

Mutual funds in India are not permitted to invest in 

29 / 50

SIP is a good investment strategy because..

30 / 50

The guideline issued by AMFI for intermediaries are known as...

31 / 50

A company's PE ratio may be low because it is unlikely to replicate it's past performance

32 / 50

Which of the following is not government saving scheme?

33 / 50

While evaluating return for an index fund across a peer group, which of the following is more important?

34 / 50

Unaudited accounts of the scheme must be published

35 / 50

Investor invest 50 lakh in GILT at 3.30 pm with a local cheque. he gets NAV of

36 / 50

NRI can not make repartition investment in MF using demand draft. 

37 / 50

If one wants to know the General Risk Factors, than which documents should he read?

38 / 50

An investor seeking capital appreciation, having high risk tolerance and
long term horizon must invest in

39 / 50

Difference between scheme's actual return and optimal return for it's risk is 

40 / 50

SEBI has put a stop on charging ____________ to the scheme.

41 / 50

The investment in MF portfolio are valued at

42 / 50

An investor plans to invest Rs.12000 in a scheme whose NAV is 12 and FV is 10, how many units is he likely to be obtained.

43 / 50

Which of the following is not required for KYC norms. 

44 / 50

Balance funds are for

45 / 50

Mr. Mahesh invests Rs. 2,00,000 in a mutual fund with a face value of Rs. 10 and NAV of Rs. 50. How many units will be allotted to him?

46 / 50

A value fund is expected to have ________ exposure to front line stocks 

47 / 50

Offering for repurchase, constant amounts worth of units at regular interval basis is called

48 / 50

Credit rating enables an investors to judge the

49 / 50

CRISIL's indicator for highest safety in a debenture is

50 / 50

Performance of fund must always be measured relative to the

Your score is

0%

Mock Test Set-3

0%
NISM V-A Mock Test 3

NISM V-A Mock Test 3

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 3

1 / 50

Collection and payment of fund is a responsibility of

2 / 50

A better performance than the return on index is given by

3 / 50

Agents are compensated by mutual funds

4 / 50

Intra day trading can be done on the basis of-

5 / 50

Need of Life insurance in life is

6 / 50

Person, other than Indian residents, should also comply with RBI guidelines for investment in Indian mutual funds

7 / 50

Investor in MF can choose asset class but not investment manager

8 / 50

When price of gold goes up a buyer of gold future contract see it's value

9 / 50

How to compare index fund

10 / 50

Mid cap stocks are risky in the time of

11 / 50

All investor have similar requirements at similar stage in the life/wealth cycle

12 / 50

Which of the following is true for FMP

13 / 50

Value stocks

14 / 50

Risk adjusted return is measured by

15 / 50

Trail commission means paying 

16 / 50

A trail commission is justified when

17 / 50

Which of the following is not a function of R&T agent

18 / 50

In case of market correction _______ , takes more hit than _______ Fund. 

19 / 50

Model portfolio should be determined based on commission income possibility for distributor

20 / 50

Mutual Fund sponsor can be compared to

21 / 50

Name of asset allocation strategy if it is fixed @ 50 %

22 / 50

Which of the following are self regulatory organization(SRO)

23 / 50

The investment portfolio is created based on

24 / 50

What type of bond fund carries least interest rate risk

25 / 50

Who Appoints the AMC

26 / 50

Debt Securities bought at a discount to their Face Value are generally

27 / 50

Sponsor's net worth should be positive for

28 / 50

Which of the following has lowest risk

29 / 50

What is the recurring expense on first 100 cr for equity schemes

30 / 50

The role of insurance is more critical for physical assets than financial assets

31 / 50

When interest rates rise, bond prices

32 / 50

Emerging or new channel for distributors/marketing of mutual funds in India is

33 / 50

Other than Indian residents, rest have to also comply RBI regulations

34 / 50

Which of these investors is allowed to do a nomination?

35 / 50

The fund sponsors should have a sound financial track record of

36 / 50

Index funds are_____________fund 

37 / 50

The maturity period of RBI relief bonds is

38 / 50

Which of the followings is physical asset?

39 / 50

Bank owned mutual fund are supervised by

40 / 50

The first step of financial planning is 

41 / 50

Arbitrage fund are not equity fund 

42 / 50

Equity investment through sip can be suggested for investor looking for

43 / 50

Financial Planning Involves

44 / 50

In the NPS each investment manager appoints own distributor

45 / 50

What of the following is not a reason for investor to prefer mutual fund over Bank FD

46 / 50

Prior approval of SEBI needs to be taken before a person is appointed as
trustee

47 / 50

In new pension scheme(NPS) Tier I account new pension scheme is
called pension account

48 / 50

As the no of earning member in a family increases risk appetite

49 / 50

At time of NFO, which document compulsorily filed with SEBI 

50 / 50

A Passive Fund Manager

Your score is

The average score is 63%

0%

Mock Test Set-4

0%
NISM V-A | Mock Test 4

NISM V-A Mock Test 4

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 4

1 / 50

1. In case of online transaction, transaction time is applicable 

2 / 50

2. Institutional distributors needs to be

3 / 50

3. Low PE indicates that stock is cheap and you should buy it

4 / 50

4. Which of the following need not be included in KIM?

5 / 50

5. Which one is false about debenture

6 / 50

6. Interest Rate sensitivity in Bond fund depends on 

7 / 50

7. Which one is not exempted in wealth tax

8 / 50

8. Which of the following is appointed by trustee?

9 / 50

9. If investors invest through demat can AMC asks for KYC requirement

10 / 50

10. If you get a 50L in equity fund at 3:30 pm today,investor will get the NAV of

11 / 50

11. Goal based approach of financial planning focuses on

12 / 50

12. Mutual fund is made up of

13 / 50

13. Which is purely treated as an international asset

14 / 50

14. Value of Bond goes down when 

15 / 50

15. Who allots Amfi Registration Number? 

16 / 50

16. SEBI doesn't allow passing of commission to 

17 / 50

17. Asset allocation should be in line with

18 / 50

18. A young investor having objective of capital appreciation should invest in

19 / 50

19. Mutual fund in India is regulated by SEBI(Mutual Fund) act 1996

20 / 50

20. What is the indicator of the risk adjusted performance ratio? 

21 / 50

21. STT charge on 

22 / 50

22. Which expense can be not charged to scheme?

23 / 50

23. Which function AMC can't do in house 

24 / 50

24. Calculate the sales price of a unit when NAV is 15 and exit load 1%

25 / 50

25. According to the asset allocation rule, equity exposure should be equal to 

26 / 50

26. As per income tax act, Arbitrage Funds are taxed as per debt scheme

27 / 50

27. Request for purchase can be made

28 / 50

28. Standard risk are

29 / 50

29. Fund's risk relative to market is measured by 

30 / 50

30. Dividends in the hands of investors are taxable at the rate of

31 / 50

31. Who can not invest in mutual funds?

32 / 50

32. Investor has read the OD and then the invested in the fund and fund goes
down, then he

33 / 50

33. What is the rate of return of PPF

34 / 50

34. What should be the Sector Fund Allocation for a single income family having
small investable surplus

35 / 50

35. In NPS investors get choice of the asset class but don't get choice of investment manager

36 / 50

36. Function of OD is

37 / 50

37. Who can not be the distributor of the AMC 

38 / 50

38. In NPS class-C predominantly invests in 

39 / 50

39. If you get a cheque of 1 cr in a Gilt Fund at 2.30 pm, NAV date will be

40 / 50

40. The information regarding Which category of investors can invest in MF, is
given in

41 / 50

41. Which is same as of OD?

42 / 50

42. Asset allocation means

43 / 50

43. Which distribution channel don't have a huge branch network?

44 / 50

44. MIP is a Debt Scheme

45 / 50

45. Last step in the process of designing model portfolio

46 / 50

46. Index against which performance of a fund is measured, is called

47 / 50

47. FMP are essentially a closed ended Scheme

48 / 50

48. Transfer of security from one scheme to another scheme is allowed in MF 

49 / 50

49. Mutual fund distributor in India are member of AMFI

50 / 50

50. KIM has to be updated

Your score is

The average score is 57%

0%

Mock Test Set-5

NISM V-A Mock Test 5

NISM V-A Mock Test 5

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 5

1 / 50

1. Time stamp machine contains- 

2 / 50

2. Distributors are paid-

3 / 50

3. How is company fixed deposit compare to bank fixed deposit ?

4 / 50

4. Which of the following is against the ethics & Code of conduct guide line of AMFI

5 / 50

5. Minimum contribution of a sponsor in an AMC should be-

6 / 50

6. What is the highest expense ratio in a Fund of Fund scheme ?

7 / 50

7. In a balance fund with net assets of 750 crores what is the
expenses that can be charged ?

8 / 50

8. If an investor invest Rs.100,00,000 in Equity MF Scheme at 3.30 pm through
outstation cheque he will get NAV of

9 / 50

9. PAN card is not required in case of-

10 / 50

10. If an investor wants full exposure of gold his investment should be into

11 / 50

11. In India mutual funds are-

12 / 50

12. For a customer holding units in demat , the AMC also requires to
do his KYC ?

13 / 50

13. If client invest in liquid fund at 11.30 am and the fund gets cleared on the same day which NAV the client gets ?

14 / 50

14. Fund management cost is more in- 

15 / 50

15. Exit load __________

16 / 50

16. If an investor invest 1 lakh rupees in a debt fund after 365 days it's value is
107756/- what is CAGR?

17 / 50

17. In KIM it has been mentioned that the 65% investment will be in equity and
equity related instrument. this is called

18 / 50

18. The NAV of a fund is 15 applicable exit load is 1%, purchase NAV would be- 

19 / 50

19. Which fund is an actively managed fund? 

20 / 50

20. Which is true in case of PPF?

21 / 50

21. SEBI is sole regulatory authority for MF are answerable

22 / 50

22. Which one of the following is not an eligible investor? 

23 / 50

23. The insurance associated with new pension schemes are regulated by-

24 / 50

24. Who keeps detail report of transaction- 

25 / 50

25. What is the DDT for an individual in liquid fund ?

26 / 50

26. Which is technical analysis- 

27 / 50

27. FMP can give better interest than a Bank Deposit

28 / 50

28. The expected return & yield of the scheme is mentioned in KIM 

29 / 50

29. What is not true objective of life insurance- 

30 / 50

30. KYC is required for-

31 / 50

31. Independent trustee are appointed by- 

32 / 50

32. Trail commission to advisor helps in --

33 / 50

33. How frequently NAV of an equity scheme are calculated 

34 / 50

34. Formula to find out the Standard Deviation in excel is

35 / 50

35. KYC is compulsory -

36 / 50

36. I invest Rs 50 lacs at 2.30 pm with a local cheque for funds other
than liquid scheme, which NAV will you get ?

37 / 50

37. Arrange in correct sequence

38 / 50

38. KIM is attached with ?

39 / 50

39. Formula for CAGR calculation is

40 / 50

40. The person with whom the units are pledged is known as

41 / 50

41. A fixed term plan series is-

42 / 50

42. If beta of a scheme is less than one the the fund is-

43 / 50

43. A schemes NAV value increases for the period of 2 yrs . it will show-

44 / 50

44. In case of breach of Code of conduct license is canceled by-

45 / 50

45. The P/E ratio is an important measure of a company's anticipated performance.
it is calculated using

46 / 50

46. Unit capital is issued at-

47 / 50

47. Initial issue expenses in a liquid fund has to be- 

48 / 50

48. Which investment below gives international exposure

49 / 50

49. On doing risk profiling which asset allocation does it give ?

50 / 50

50. What is true about premium paid in a life insurance company ?

Your score is

The average score is 58%

0%

Mock Test Set-6

NISM V-A Mock Test

NISM V-A Mock Test 6

NISM V-A (Mutual Fund Distributor Module) | Mock Test-6

1 / 50

If a minor Invests Rs 10,000 in MF, KYC is needed or not

2 / 50

KYC is required for investment more than

3 / 50

Mutual Fund is exempted from Wealth Tax

4 / 50

Which of the following account in NPS is a Saving Account

5 / 50

Financial Planner defines that client does not have resources to
meet goals. He should 

6 / 50

Risk May be defined as

7 / 50

______ has been appointed by Trustee 

8 / 50

Investor selects an MF based on

9 / 50

Market value is 152 crore, Dividend accrued but not received= 8crore, liabilities = 2 crore Total no of outstanding units is 75 lakhs. What will be the NAV of the scheme?

10 / 50

What is the applicable rate of STT in case of repurchase of Equity
scheme

11 / 50

The young BPO executives should not be advised to invest in long term schemes because of their lavish life style ?

12 / 50

Index fund can give better returns from its Benchmark.

13 / 50

Which of the following is a Financial Asset? 

14 / 50

In Transition phase of Wealth Cycle investor tends to increase the
proportion of_______ assets in his portfolio

15 / 50

Recurring expenses in Equity scheme has a limit up to

16 / 50

Code of ethics for employees of AMC is described by 

17 / 50

Expense ratio is most important in case of

18 / 50

In New Pension Scheme portfolio of Assets class E predominantly
investment in

19 / 50

According to Performance Advertisements the return shown for
equity funds over 1 years are

20 / 50

Initial issue expense that can be charged to fund

21 / 50

Sub distributors work with

22 / 50

Technical analysis is projecting trend based on human behavior ?

23 / 50

The NAV of scheme is impacted by ? 

24 / 50

Which of the below is not in a Transition phase ?

25 / 50

The arbitrage funds are taxed like debt funds 

26 / 50

Which of the following exempt from DDT ?

27 / 50

Within a category one can decide on investments based on Sharpe
Ratio

28 / 50

Companies issuing short term debt is called

29 / 50

In NFO the account statement is to be dispatched within ⠓ days
on closure of NFO ?

30 / 50

NFO other than ELSS can remain open for maximum _________

31 / 50

Which of the following is an SRO ?

32 / 50

Which of the following is a financial asset ?

33 / 50

Which is the fastest way of remitting funds on real time basis? 

34 / 50

The New Pension scheme is both regulated IRDA and PFRDA as it
has an insurance component ?

35 / 50

A conservative investor need not be advised to invest in ?

36 / 50

Within how many days the dividend warrants to be dispatched on
declaration?

37 / 50

Since Preparation of WILL is a long process, it has to be avoided 

38 / 50

Close ended fund allows investors to sale their units 

39 / 50

______ Allots the ARN Number

40 / 50

Application for MF would be rejected if paid in

41 / 50

Mutual Fund Investor can't pledge units

42 / 50

Change in the value of NAV is 

43 / 50

Which one is called cum-dividend NAV?

44 / 50

When scheme is first launched and investor invests in MF... it is
called

45 / 50

KIM Document is a summary of

46 / 50

If investor invests in a Guilt fund at 3:30 p.m., he would get the
units at which NAV ?

47 / 50

The guideline issued by AMFI for intermediaries are known as

48 / 50

Time stamping arrangements is must for

49 / 50

Unaudited accounts of the scheme must be published in the news
paper

50 / 50

An Investor Invests Rs 100000 in a 365 days FMP and got Rs 107750, what would be capital gain in this case ?

Your score is

The average score is 65%

0%

Mock Test Set-7

NISM V-A Mock Test 7

NISM V-A Mock Test 7

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 7

1 / 50

While evaluating return for an index fund across a peer group, which of the following is more important

2 / 50

Beta of Index would be

3 / 50

Company's Earning per share would be indicated by following

4 / 50

An investor plans to invest Rs 12000 in a scheme whose NAV is Rs 12, how many units he will likely to be obtained

5 / 50

STT is charged on 

6 / 50

An Investor Invests Rs 100000 in a 365 days FMP and got Rs 107750, what would be capital gain in this case ?

7 / 50

Unaudited accounts of the scheme must be published in the news
paper

8 / 50

Time stamping arrangements is must for

9 / 50

The guideline issued by AMFI for intermediaries are known as

10 / 50

If investor invests in a Guilt fund at 3:30 p.m., he would get the
units at which NAV ?

11 / 50

KIM Document is a summary of

12 / 50

The fund sponsors should have a sound financial track record of

13 / 50

What is the current PPF Rate ?

14 / 50

Father wants his son to be a doctor and study will start after 5 years. The current expense is 2500000. How to calculate the expense after 5 years

15 / 50

Appropriate benchmark for G-sec fund

16 / 50

Which of the following has lowest risk ?

17 / 50

If I require 500000 after 2 years, which method will I follow ?

18 / 50

Mutual Fund Sponsors can be compared to

19 / 50

Which of the following can be charged to the scheme

20 / 50

Low PE compared with peer group or industry standard indicates
that stock is cheap.

21 / 50

What would be the redemption value of a Unit if NAV is 15 and Exit load is 1%

22 / 50

Last step in the process of designing model portfolio

23 / 50

For a distribution channel, 60% of the employees should have AMFI Registration Number

24 / 50

Equity Fund's Risk relative to market is measured by

25 / 50

Standard Risk is 

26 / 50

Request of Purchase can be made

27 / 50

If an investor invests 1,000,000 at 3:30 p.m through outstation cheque, he will get NAV of

28 / 50

Liquidity risk is highest in 

29 / 50

Mr A Holds 2000 Units, scheme declared 1:4 bonus. How many units will Mr A Gets ?

30 / 50

Investor can sue the trust for breach of trust

31 / 50

Distributors do not get commission on self business

32 / 50

Which of the following is an SRO ?

33 / 50

What remains constant in a close ended fund ?

34 / 50

SEBI regulates

35 / 50

Unit holders can hold their units in demat form

36 / 50

KIM needs to be updated every

37 / 50

Trail commission are linked to valuation of portfolio in the market

38 / 50

Risk can be measured by

39 / 50

According to the Certified Financial Planner - Board of Standards (USA), the third stage in Financial Planning is 

40 / 50

Commodity as an asset class does not include

41 / 50

Financial Planning is just a process and so Financial Planner can use any profile found in the web

42 / 50

5 star fund indicates 

43 / 50

Investor should invest in MF with few offices as office expense is
charged to the fund 

44 / 50

NAV changes with

45 / 50

Investor select an MF based on matching

46 / 50

Indian investor in a US $ based fund benefit when $ becomes

47 / 50

Understanding the psychology helps in risk profiling

48 / 50

Securities of a fund are held by 

49 / 50

Risk may be defined as

50 / 50

Financial Planner finds that client does not have resources to meet goals. He Should

Your score is

The average score is 70%

0%

Mock Test Set-8

NISM V-A Mock Test 8

NISM V-A Mock Test 8

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 8

1 / 50

To whom does the profits or losses made by the mutual fund belong?

2 / 50

As per SEBI regulations, a mutual fund scheme should have at least ________ investors.

3 / 50

KYC is required for investment more than

4 / 50

Which of the distribution channel does not have wide branch network

5 / 50

Which of the following is not a function of R&T

6 / 50

AMFI interacts with _______ on all issues related to MF industry

7 / 50

CVL system generates Acknowledge along with

8 / 50

High portfolio turnover ratio implies 

9 / 50

Since preparation of WILL is a long process, it has to be avoided 

10 / 50

Benefit of Demat a/c is that

11 / 50

Among equity fund , growth fund has highest risk

12 / 50

What determines the interest rate sensitivity

13 / 50

Fundamental Analyst are also called " Chartist" 

14 / 50

Fundamental Analyst's decision are base on

15 / 50

Debenture is physical asset because the paper has some value

16 / 50

Investing in Gold ETF helps

17 / 50

Commission paid at the time of investment are called

18 / 50

What is the drawback of PPF

19 / 50

Approval of SEBI is needed to appoint a person as Trustee

20 / 50

Some allocation to GOLD is likely in most model portfolio

21 / 50

Investor with a long term investment horizon for growth are likely to
invest in 

22 / 50

Childhood and transition are similar stage of LIFE cycle and WEALTH cycle stage

23 / 50

Which of these activity are carried out before getting SEBI approval

24 / 50

Investing in Gold ETF helps

25 / 50

Investors in NPS can choose asset class but not fund managers

26 / 50

Settlement responsibility in BSE / NSE Platform are with 

27 / 50

Which of the following information does time stamp include

28 / 50

Comprehensive FP should be restricted to five years

29 / 50

Closed ended fund has

30 / 50

To which of the following PAN does not apply 

31 / 50

Father wants to start his business, this is 

32 / 50

In India one can invest in MF only through distributor

33 / 50

SIP is called RCA (Rupee Cost Averaging) 

34 / 50

Liquidity risk arises in

35 / 50

A mutual fund is

36 / 50

The name and background of key personnel in AMC

37 / 50

Annual report should announce the unclaimed amount and no. of investor

38 / 50

STCG in GOLD is applicable if the holding period is less than

39 / 50

 _______ allots the ARN number

40 / 50

Role of Credit rating agencies is highest in

41 / 50

Investors in PPF gets deduction up to

42 / 50

Cut-off time are

43 / 50

Money market in which MF invests are regulated by

44 / 50

For with-holding tax on income earned by NRI depends on nature of income, nature investment and investor's country of domicile

45 / 50

Gilt fund is a good alternative to Capital Appreciation 

46 / 50

Which of the following is growth asset

47 / 50

Which is prohibited in AMC's Code of ethics

48 / 50

Loads are applicable to 

49 / 50

Bank on receipt of money from abroad issue

50 / 50

Mutual Fund investor can't pledge units

Your score is

The average score is 65%

0%

Mock Test Set-9

NISM V-A Mock Test 9

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 9

1 / 50

To whom does the profits or losses made by the mutual fund belong?

2 / 50

As per SEBI regulations, a mutual fund scheme should have at least ________ investors.

3 / 50

What action has to be taken before deleting a default bank account from the registered bank account in a mutaul fund folio?

4 / 50

The Asset Management Companies have to disclose the Total Expense Ratios (TER) of the various schemes on their websites on a ______ basis.

5 / 50

Financial goals have to be defined in terms of _______ .

6 / 50

If the sale and purchase transactions for a year amounted to Rs. 10,000 crore, and the average size of net assets is Rs. 5,000 crore, this means that investments are held in the portfolio, on an average for ________ .

7 / 50

Investors tend to extrapolate the current event into the future and expect a repeat. This is an example of ________ bias.

8 / 50

________ is a proper benchmark for a balanced hybrid scheme.

9 / 50

Long Duration debt scheme invests in debt instruments with Macaulay duration _____ .

10 / 50

When the asset allocation is maintained as a constant ratio by regular rebalancing of portfolio, it is known as ________ .

11 / 50

For which of these documents is Time Stamping mandatory?

12 / 50

Segregated portfolio means _________ .

13 / 50

What is the purpose of ‘credit enhancement’ in case of securitised transaction?

14 / 50

Banks and NBFC's can lend money against ________ of mutual fund units.

15 / 50

Whom should the investor approach if his complaint is not resolved by the Asset Management Company (AMC)?

16 / 50

Inflation Risk is also referred as _______.

17 / 50

Which of these statement(s) is/are FALSE?

18 / 50

Long term capital gains is NOT taxed in which of these funds? A. Balanced Advantage Funds B. Balanced Funds C. Diversified Equity Funds

19 / 50

In whose beneficial interest is a mutual fund managed?

20 / 50

AMFI is an industry body, but not a self-regulatory organization - True or False ?

21 / 50

The loss booked from a debt investment of 15 months can be set off against ________

22 / 50

Whose KYC needs to be completed in case of an application by a minor?

23 / 50

What is the maximum Total Expense Ratio chargeable in case of index funds?

24 / 50

Which of these statements are false? A) While evaluating schemes, the Expense Ratio will matter much more in Debt Funds than Equity mutual funds. B) A mutual fund with a long track record is always better for investments as it would give higher returns in the future C) Ultra short term debt funds always invest in high credit quality debt securities

25 / 50

Which of these is a physical asset?

26 / 50

Ultra-short-term debt scheme invests in debt and money market instruments with Macaulay duration between __________ .

27 / 50

The expenses which can be charged by an Asset Management Company to a Mutual Fund scheme are limited by _____ .

28 / 50

A mutual fund scheme’s NAV is said to be cum-dividend from the ________ .

29 / 50

What is the portfolio of a 'Fund of Funds' made up of ?

30 / 50

Identify the TRUE statement.

31 / 50

.
Identify the TRUE statements - A) A mutual fund scheme with a beta of less than 1 is less risky than market B) The diversified stock index has a Beta of 1 C) Unsystematic risk is measured by its Beta

32 / 50

The New Fund Offer dates are published in the _______ .

33 / 50

Which of the below statements is a important advantage of a Exchange Traded Fund (ETF)?

34 / 50

As per AMFI’s code of ethics, an Asset Management Company has to disclose which of the following scheme related information to the unit holders? A. Investment Pattern B.  Annual portfolio turnover C. Annual securities transactions.

35 / 50

In which of these options can an investor expect a cash flow in his bank account?

36 / 50

Which statement is FALSE with reference to risk appetite?

37 / 50

If an investor wants to get updated monthly performance and portfolio data on mutual funds, which of the following documents should he read ?

38 / 50

For how long is the trail commission paid to the mutual fund distributor?

39 / 50

Identify the TRUE statements -

40 / 50

Which of these funds has the highest risk ?

41 / 50

The opening of time stamping machine needs to be documented and reported to _______ .

42 / 50

What is negative Alpha?

43 / 50

Securities and Exchange Board of India (SEBI) functions does not include which of the following?

44 / 50

_____ is not a fair selling practice by a mutual fund distributor.

45 / 50

An investor in India is investing in US Dollar based funds. He/She will benefit when ______.

46 / 50

How is the redemption transaction of a mutual fund priced?

47 / 50

Investments are carried at ________ in a mutual fund portfolio.

48 / 50

Identify the TRUE statement with respect to 'Tracking Error'. A) Tracking error is calculated as the standard deviation of the excess returns generated by the fund B) While comparing different index funds, one should invest in a fund with high tracking error.

49 / 50

Identify the TRUE statement. A) While calculating scheme returns for an investor, if there is an entry load, then the initial value of the Net Asset Value (NAV) is taken as NAV plus Entry Load B) While calculating scheme returns for an investor, if there is an exit load, then the later value of the Net Asset Value (NAV) is taken as NAV plus Exit Load

50 / 50

What is asset allocation?

Your score is

The average score is 67%

0%

Mock Test Set-10

NISM V-A Mock Test 10

NISM V-A (Mutual Fund Distributor Module) Exam | Mock Test 10

1 / 50

To whom does the profits or losses made by the mutual fund belong?

2 / 50

For life-long investment is gold one should prefer Gold Futures as against Gold ETF -True or False?

3 / 50

KIM has to be updated every ___________.

4 / 50

Dividends which are paid by mutual funds can be paid out of ________ .

5 / 50

Mutual funds in India are governed by SEBI (Mutual Fund) Regulations, 1996 - True or False

6 / 50

In case of a floater Fund, what is the Required Minimum Investment in floating rate investment of total assets invested?

7 / 50

Business model, experience and proficiency in the business is a compulsory criteria for empanelment and review of which of the following category of mutual fund distributors?

8 / 50

A creditable benchmark of a mutual fund scheme should be in sync with the __________ . A) Size of scheme B) Investment objective of the scheme C) Investment strategy of the
scheme D) Expenses ratio of the scheme E) Asset allocation pattern of the scheme

9 / 50

The NAV applicable for purchase in a gilt fund of Rs. 50 Lakhs if the cheque is received after 2 pm will be _____ .

10 / 50

A mutual fund distributor cannot charge a transaction fee on which of these transactions?

11 / 50

Equity Linked Savings Schemes (ELSS) are eligible for deduction under Section 80C of the Income Tax Act. However, such schemes have a lock-in period of _______ from the date of  investment.

12 / 50

When is a Consolidated Account Statement (CAS) dispatched to the investor?

13 / 50

In which categories of stocks do Multi Cap equity funds invest in ?

14 / 50

Which of the following information about mutual fund distributors who have multiple points of presence (more than 20 locations) must be disclosed by the AMCs? A) Distributor-wise gross inflows and net inflows B) Average assets under management C) Total commission and expenses paid to distributors

15 / 50

Multi Asset Allocation funds invest in at least _____ asset classes with a minimum allocation of at least 10 percent in each class.

16 / 50

A bond issued by a company has a coupon of 7%. The interest rate in the market for bonds of similar tenor and credit quality is now 8%. An investor holding the bond will see
_____ .

17 / 50

An mutual fund application form with multiple holders has to be signed by ______ .

18 / 50

Which type of transactions are allowed on a stock exchange platform for mutual fund
trading? A - Redemptions B - Fresh subscription C - Additional purchases

19 / 50

In an Arbitrage fund, the minimum investment in equity and equity related instruments shall be ______ of total assets.

20 / 50

The average net assets of a fund were Rs 800 crore and the investment transactions of the fund were Rs 1600 crore. Calculate the Portfolio Turnover Ratio.

21 / 50

By mistake the ARN number is wrongly mentioned in the application form. How will such an application be processed?

22 / 50

Stamp duty is required to be paid for which of these mutual fund transactions?
A. New purchases B. Systematic Investment Plan (SIP) C. Dividend reinvestment D. Systematic Transfer Plan (STP

23 / 50

Which strategy can be used to ensure that a mutual fund scheme is suitable to the investors need and situation?

24 / 50

Where are the 'Standard Risk Factors' of a Mutual Fund scheme disclosed?

25 / 50

Which certification examination is mandated by SEBI for becoming a mutual fund distributor in the India?

26 / 50

Which of these is an important criteria for choosing either Growth option or Dividend option in the same mutual fund scheme?

27 / 50

What should an investor see to evaluate the Consistency of Mutual Fund scheme performance ?

28 / 50

Indian mutual funds cannot invest in ______ .

29 / 50

What is the role of the custodian of a mutual fund?

30 / 50

Identify the duty of a SPONSOR of a mutual fund -

31 / 50

Which of these documents have to be updated once in a year?

32 / 50

Which amongst the following bias can lead to concentrated portfolio?

33 / 50

Asset allocation must primarily match ________.

34 / 50

Which of these documents is NOT required to be submitted by institutional investors while investing in mutual funds?

35 / 50

______ is / are Non Financial transaction(s) in a mutual fund. A) Switch B) Pledge of units
C) Nomination D) Transmission

36 / 50

Floating interest rate is _________ .

37 / 50

A mutual fund has to report which of the following information of an investor who comes under the Foreign Account Tax Compliance Act (FATCA)?

38 / 50

The expenses on ________ cannot be charged to the mutual fund scheme.

39 / 50

The loss booked from a equity investment of 18 months can be set off against ________ .

40 / 50

If a person has to trade in units of a closed-ended mutual fund on the stock exchange platform then the units have to be held in _______ .

41 / 50

SEBI Advertisement Code for Mutual Funds mentions the various guidelines to be followed by __________.

42 / 50

Which document will an investor look at if he has to know the fundamental attributes of a mutual fund scheme?

43 / 50

Return from a fund is 11.5% and the risk free rate is 7%, the Standard deviation is 3 & Beta is 1.9. What will be the denominator for calculating the Sharpe ratio?

44 / 50

With respect to the procedure for getting empanelled as a mutual fund distributor with AMC, the applicant needs to sign a declaration for _______ .

45 / 50

When the distributors are empanelled, the mutual funds should categorize the customer relationship and transactions in which of the following ways ?

46 / 50

Which of these is a key advantage of Exchange Traded Funds (ETFs) ?

47 / 50

State True or False - Long term capital loss can only be set off against long term capital gain.

48 / 50

There are no SEBI regulations regarding the minimum or maximum commission that distributors can earn - State True or False ?

49 / 50

The actual performance of an index fund can be better or worse than its benchmark due to _________ .

50 / 50

The main purpose why SEBI has issued norms for investments by mutual fund schemes is to _________.

Your score is

The average score is 65%

0%

0%
NISM VA MCQs from Book
NISM Series V-A Mutual Fund Distributors Questions from Book

1 / 50

1. Registrar and Transfer Agency function must be independent of the Asset Management Company, and it cannot be retained in-house. State whether this statement is True or False.

2 / 50

2. Please read the scheme related documents carefully” – which documents does this line refer to?

3 / 50

3.

At what price are the bonus units issued to the unitholder?

4 / 50

4. What minimum percentage of the mutual fund scheme corpus must be invested in equity and related instruments in the case of Equity Linked Savings Schemes (ELSS)?

5 / 50

5. Whose job is it to track the various corporate actions like a bonus, dividend, or rights issues in companies where the mutual fund scheme has invested?

6 / 50

6.

In what form do mutual fund distributors earn revenue?

7 / 50

7. As per the fair valuation principles laid out by SEBI, it is mandatory to disclose the valuation policy in.

8 / 50

8. The transparency levels in mutual funds are very low. State whether True or False.

9 / 50

9. For an investor to get a quick sense of the level of risk involved in a mutual fund scheme, SEBI suggested a simplified framework known as .

10 / 50

10.

The Income Tax Act allows setting-off of the short-term capital loss against long term capital gains. State whether True or False.

11 / 50

11.

Which amongst the following asset categories can also be purchased for consumption purposes apart from an investment?

12 / 50

12.

The purchasing power of currency changes on account of which of the following?

13 / 50

13.

Mutual funds are constituted as ‘Trusts’ in India. Who are the beneficiaries of the trust?

14 / 50

14.

Mutual funds are constituted as ‘Trusts’ in India. Who are the beneficiaries of the trust?

15 / 50

15. What is the maximum Total Expense Ratio chargeable in case of index funds?

16 / 50

16. _________ indicates how much money can be generated per unit of mutual fund in case the scheme is liquidated.

17 / 50

17.

In the non-equity-oriented funds, the rate of long-term capital gains tax is .

18 / 50

18.

Which of the following regulates mutual funds in India?

19 / 50

19. What term is used to describe the Net Asset Value (NAV) of the scheme after the dividend is paid out (Remember the NAV would have dropped to the extent of the dividend paid)?

20 / 50

20.

Which of the following type of analysis tracks the price and volume data related to trading in the security?

21 / 50

21. Mutual funds are allowed to charge differential exit loads based on the amount of investment.

22 / 50

22.

Which among the following investment avenues does not offer income on a regular basis?

23 / 50

23. Mutual fund distributors earn no commission when the investor chooses to invest in “direct” plans. State whether True or False.

24 / 50

24.

Which of the following statements is True?

25 / 50

25.

Which of the following is an advantage of mutual funds?

26 / 50

26.

Which of the following is a measure of fluctuation in periodic returns in an equity mutual fund scheme?

27 / 50

27. Only individuals are allowed to distribute mutual funds in India. State whether True or False.

28 / 50

28. Mutual funds can buy and sell securities only on delivery basis. State whether this statement is True or False.

29 / 50

29.

Who handles the day-to-day management of the mutual fund?

30 / 50

30. Which among the following is not a statutory document?

31 / 50

31.

Unsystematic risk can be reduced through diversification. State whether True or False

32 / 50

32.

Government securities can be considered to be completely risk-free. State whether True or False.

33 / 50

33.

How often should the Key Information Memorandum (KIM) be updated?

34 / 50

34.

Whose KYC needs to be completed in case of an application by a minor?

35 / 50

35.

Investors have the right to specify up to nominees for their mutual fund investment folios.

36 / 50

36.

When the interest rate in the economy increases, the price of existing bonds.

37 / 50

37.

Each mutual fund scheme must have a stated investment objective. State whether True or False.

38 / 50

38.

What is the real rate of return?

39 / 50

39. Which amongst the following categories of mutual funds have a fixed maturity date?

40 / 50

40.

In case of mutual fund schemes, dividends can be paid only out of.

41 / 50

41.

___________ takes into account all dividends generated from the basket of constituents that make up the index in addition to the capital gains.

42 / 50

42. Which amongst the following categories of mutual funds have a fixed maturity date?

43 / 50

43. As per the SEBI guidelines, how often should the mutual fund scheme’s portfolio be published?

44 / 50

44. Redemption from which of the following mutual fund schemes would attract Securities Transaction Tax (STT) for an investor?

45 / 50

45.

How many (maximum) bank accounts can a resident individual investor register with a mutual fund folio?

46 / 50

46.

Mutual Fund Distributors Certification Examination offered by is required for becoming a mutual fund distributor.

47 / 50

47. In case of capital gains from mutual fund investments, Tax Deduction at Source (TDS) is applicable for:

48 / 50

48.

Mutual fund distributors can only earn upfront commission from the mutual funds. State whether True or False.

49 / 50

49.

With which agency are the mutual fund distributors registered?

50 / 50

50.

Which amongst the following is a measure of risk-adjusted returns of mutual fund scheme?

Your score is

The average score is 72%

0%

These Mock Test will help you become familiar with the exam format, assess your knowledge, and identify areas that may need further study.

Remember that while mock tests can be beneficial for practice, it’s important to thoroughly understand the concepts and principles behind each question.

NISM ExamGood Luck with your preparation for the NISM Series V-A exam!NISM Exam

For the latest and accurate information, please visit the NISM website at https://certifications.nism.ac.in/nismaol/

NISM Series XXI-A (PMS       |    NISM Series X-A (Advisor-Level 1)      |    NISM Series X-b (Advisor-Level 2)