NISM VA Mock Test All-in-One

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

1. A compliance officer

2 / 50

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

3 / 50

3. Technical analysis guides the decision on 

4 / 50

4. 'Key Information Memorandum' is

5 / 50

5. Issuing and redeeming units of a mutual
fund is the role

6 / 50

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

7 / 50

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

8 / 50

8. A Gilt Fund is a special type of fund that invests

9 / 50

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

10 / 50

10. Of the following fund types the highest risk is associated with

11 / 50

11. Shares of companies with large capital market
capitalisation

12 / 50

12. A close-ended mutual fund has a fixed:

13 / 50

13. NAVs of equity funds are not affected by

14 / 50

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

15 / 50

15. The AMC of a mutual fund cannot 

16 / 50

16. The entity that SEBI does not regulate is

17 / 50

17. The offer document is not a legal document 

18 / 50

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

19 / 50

19. An Open-ended mutual fund is one that has:

20 / 50

20. A funds NAV is affected by

21 / 50

21. The greatest potential for growth in capital is offered by

22 / 50

22. A fixed term plan series is

23 / 50

23. The trust that manages a mutual fund is
appointed by 

24 / 50

24. A better performance than the return on index
is given by 

25 / 50

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

26 / 50

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

27 / 50

27. A put provision in a debt issue allows

28 / 50

28. Commercial Paper is issued by Corporate bodies

29 / 50

29. 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

30 / 50

30. A mutual fund owned by 

31 / 50

31. The maximum load that a fund can charges determined by the

32 / 50

32. A call provision in a debt issue allows the issuer to

33 / 50

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

34 / 50

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

35 / 50

35. Units from an open-ended mutual fund are bought

36 / 50

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

37 / 50

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

38 / 50

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

39 / 50

39. Equity derivative instruments are

40 / 50

40. The custodian of a mutual fund: 

41 / 50

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

42 / 50

42. The highest authority among the following is
the 

43 / 50

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

44 / 50

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

45 / 50

45. The sponsor of a mutual fund may be
compared to 

46 / 50

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

47 / 50

47. A high turnover rate for a fund indicates 

48 / 50

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

49 / 50

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

50 / 50

50. The following need not be covered in a Key Information Memorandum

Your score is

The average score is 59%

LinkedIn Facebook
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

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

2 / 50

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

3 / 50

Performance of fund must always be measured relative to the

4 / 50

STT is charged on

5 / 50

Which of the following is not required for KYC norms. 

6 / 50

The lower risk among equity fund is

7 / 50

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

8 / 50

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

9 / 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?

10 / 50

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

11 / 50

A mutual fund distributor is paid commission for.. 

12 / 50

CRISIL's indicator for highest safety in a debenture is

13 / 50

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

14 / 50

Returns in international fund is dependent on 

15 / 50

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

16 / 50

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

17 / 50

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

18 / 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.

19 / 50

Index funds are safer because their NAV does not go down

20 / 50

Fundamental analysts are called "Chartists"

21 / 50

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

22 / 50

Credit rating enables an investors to judge the

23 / 50

Time stamping arrangement is must at...

24 / 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?

25 / 50

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

26 / 50

Which of the following is not government saving scheme?

27 / 50

SIP is a good investment strategy because..

28 / 50

Mutual funds in India are not permitted to invest in 

29 / 50

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

30 / 50

Which of the followings is physical asset?

31 / 50

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

32 / 50

Unaudited accounts of the scheme must be published

33 / 50

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

34 / 50

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

35 / 50

Balance funds are for

36 / 50

Which of the following is true 

37 / 50

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

38 / 50

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

39 / 50

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

40 / 50

Exit loads are generally lower for large investors

41 / 50

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

42 / 50

The investment in MF portfolio are valued at

43 / 50

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

44 / 50

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

45 / 50

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

46 / 50

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

47 / 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

48 / 50

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

49 / 50

Which of the followings are least comparable

50 / 50

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

Your score is

LinkedIn Facebook
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

Sponsor's net worth should be positive for

2 / 50

Which of the following are self regulatory organization(SRO)

3 / 50

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

4 / 50

The investment portfolio is created based on

5 / 50

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

6 / 50

Value stocks

7 / 50

The fund sponsors should have a sound financial track record of

8 / 50

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

9 / 50

At time of NFO, which document compulsorily filed with SEBI 

10 / 50

How to compare index fund

11 / 50

Financial Planning Involves

12 / 50

Arbitrage fund are not equity fund 

13 / 50

A better performance than the return on index is given by

14 / 50

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

15 / 50

Collection and payment of fund is a responsibility of

16 / 50

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

17 / 50

Trail commission means paying 

18 / 50

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

19 / 50

A trail commission is justified when

20 / 50

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

21 / 50

Which of these investors is allowed to do a nomination?

22 / 50

In the NPS each investment manager appoints own distributor

23 / 50

Equity investment through sip can be suggested for investor looking for

24 / 50

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

25 / 50

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

26 / 50

Intra day trading can be done on the basis of-

27 / 50

What type of bond fund carries least interest rate risk

28 / 50

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

29 / 50

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

30 / 50

Risk adjusted return is measured by

31 / 50

A Passive Fund Manager

32 / 50

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

33 / 50

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

34 / 50

When interest rates rise, bond prices

35 / 50

Which of the followings is physical asset?

36 / 50

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

37 / 50

Need of Life insurance in life is

38 / 50

Agents are compensated by mutual funds

39 / 50

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

40 / 50

Mutual Fund sponsor can be compared to

41 / 50

The first step of financial planning is 

42 / 50

Which of the following is true for FMP

43 / 50

Mid cap stocks are risky in the time of

44 / 50

Investor in MF can choose asset class but not investment manager

45 / 50

The maturity period of RBI relief bonds is

46 / 50

Who Appoints the AMC

47 / 50

Which of the following has lowest risk

48 / 50

Index funds are_____________fund 

49 / 50

Bank owned mutual fund are supervised by

50 / 50

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

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. Request for purchase can be made

2 / 50

2. Standard risk are

3 / 50

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

4 / 50

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

5 / 50

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

6 / 50

6. Goal based approach of financial planning focuses on

7 / 50

7. Mutual fund is made up of

8 / 50

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

9 / 50

9. Value of Bond goes down when 

10 / 50

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

11 / 50

11. Mutual fund distributor in India are member of AMFI

12 / 50

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

13 / 50

13. STT charge on 

14 / 50

14. FMP are essentially a closed ended Scheme

15 / 50

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

16 / 50

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

17 / 50

17. Who can not invest in mutual funds?

18 / 50

18. Institutional distributors needs to be

19 / 50

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

20 / 50

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

21 / 50

21. Asset allocation should be in line with

22 / 50

22. Which of the following is appointed by trustee?

23 / 50

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

24 / 50

24. Who can not be the distributor of the AMC 

25 / 50

25. SEBI doesn't allow passing of commission to 

26 / 50

26. What is the rate of return of PPF

27 / 50

27. Which is purely treated as an international asset

28 / 50

28. Which is same as of OD?

29 / 50

29. Last step in the process of designing model portfolio

30 / 50

30. Asset allocation means

31 / 50

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

32 / 50

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

33 / 50

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

34 / 50

34. Function of OD is

35 / 50

35. Who allots Amfi Registration Number? 

36 / 50

36. Which function AMC can't do in house 

37 / 50

37. Which one is not exempted in wealth tax

38 / 50

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

39 / 50

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

40 / 50

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

41 / 50

41. Which one is false about debenture

42 / 50

42. MIP is a Debt Scheme

43 / 50

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

44 / 50

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

45 / 50

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

46 / 50

46. In NPS class-C predominantly invests in 

47 / 50

47. KIM has to be updated

48 / 50

48. Which expense can be not charged to scheme?

49 / 50

49. Interest Rate sensitivity in Bond fund depends on 

50 / 50

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

Your score is

The average score is 58%

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

2 / 50

2. KYC is required for-

3 / 50

3. In India mutual funds are-

4 / 50

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

5 / 50

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

6 / 50

6. Arrange in correct sequence

7 / 50

7. A fixed term plan series is-

8 / 50

8. Fund management cost is more in- 

9 / 50

9. Distributors are paid-

10 / 50

10. Who keeps detail report of transaction- 

11 / 50

11. Which investment below gives international exposure

12 / 50

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

13 / 50

13. Formula for CAGR calculation is

14 / 50

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

15 / 50

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

16 / 50

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

17 / 50

17. Unit capital is issued at-

18 / 50

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

19 / 50

19. Which is technical analysis- 

20 / 50

20. SEBI is sole regulatory authority for MF are answerable

21 / 50

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

22 / 50

22. What is not true objective of life insurance- 

23 / 50

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

24 / 50

24. Exit load __________

25 / 50

25. Which fund is an actively managed fund? 

26 / 50

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

27 / 50

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

28 / 50

28. Time stamp machine contains- 

29 / 50

29. Trail commission to advisor helps in --

30 / 50

30. KYC is compulsory -

31 / 50

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

32 / 50

32. How frequently NAV of an equity scheme are calculated 

33 / 50

33. PAN card is not required in case of-

34 / 50

34. Which is true in case of PPF?

35 / 50

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

36 / 50

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

37 / 50

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

38 / 50

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

39 / 50

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

40 / 50

40. KIM is attached with ?

41 / 50

41. FMP can give better interest than a Bank Deposit

42 / 50

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

43 / 50

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

44 / 50

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

45 / 50

45. Independent trustee are appointed by- 

46 / 50

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

47 / 50

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

48 / 50

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

49 / 50

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

50 / 50

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

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

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?

2 / 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
_____ .

3 / 50

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

4 / 50

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

5 / 50

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

6 / 50

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

7 / 50

Floating interest rate is _________ .

8 / 50

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

9 / 50

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

10 / 50

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

11 / 50

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

12 / 50

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

13 / 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)?

14 / 50

Which amongst the following bias can lead to concentrated portfolio?

15 / 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 _______ .

16 / 50

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

17 / 50

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

18 / 50

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

19 / 50

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

20 / 50

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

21 / 50

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

22 / 50

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

23 / 50

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

24 / 50

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

25 / 50

Asset allocation must primarily match ________.

26 / 50

Identify the duty of a SPONSOR of a mutual fund -

27 / 50

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

28 / 50

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

29 / 50

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

30 / 50

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

31 / 50

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

32 / 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?

33 / 50

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

34 / 50

Indian mutual funds cannot invest in ______ .

35 / 50

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

36 / 50

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

37 / 50

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

38 / 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.

39 / 50

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

40 / 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

41 / 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

42 / 50

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

43 / 50

KIM has to be updated every ___________.

44 / 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.

45 / 50

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

46 / 50

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

47 / 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

48 / 50

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

49 / 50

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

50 / 50

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

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

2 / 50

2.

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

3 / 50

3.

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

4 / 50

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

5 / 50

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

6 / 50

6. 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 .

7 / 50

7.

Which of the following regulates mutual funds in India?

8 / 50

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

9 / 50

9.

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

10 / 50

10.

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

11 / 50

11.

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

12 / 50

12.

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

13 / 50

13.

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

14 / 50

14.

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

15 / 50

15. 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)?

16 / 50

16.

In what form do mutual fund distributors earn revenue?

17 / 50

17.

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

18 / 50

18.

Which of the following statements is True?

19 / 50

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

20 / 50

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

21 / 50

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

22 / 50

22.

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

23 / 50

23.

With which agency are the mutual fund distributors registered?

24 / 50

24.

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

25 / 50

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

26 / 50

26.

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

27 / 50

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

28 / 50

28. 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.

29 / 50

29.

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

30 / 50

30. 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)?

31 / 50

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

32 / 50

32.

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

33 / 50

33.

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

34 / 50

34.

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

35 / 50

35.

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

36 / 50

36.

Which of the following is an advantage of mutual funds?

37 / 50

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

38 / 50

38. 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?

39 / 50

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

40 / 50

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

41 / 50

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

42 / 50

42.

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

43 / 50

43.

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

44 / 50

44.

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

45 / 50

45.

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

46 / 50

46.

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

47 / 50

47.

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

48 / 50

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

49 / 50

49.

What is the real rate of return?

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 Tests 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) |  NISM Series XIII (SIF)   |   NISM Series XV (RAs)