NISM Series V-A mock test
Mutual Fund Distributors Certification Examination
The practice paper
Before you start
- 100 questions, 120 minutes. 1 mark each, no negative marking — the same rules the real paper uses, so a blank costs exactly what a wrong answer does.
- Questions are drawn to the syllabus weightages NISM publishes, so the mix matches the real paper.
- You can flag a question and come back to it. The clock does not stop.
- Nothing is saved. Close the tab and the attempt is gone.
The real examination
A practice paper for the Mutual Fund Distributors certification, drawn to the same syllabus weightages the examination publishes. Every question carries an explanation, so a wrong answer teaches you something.
- Questions
- 100
- Duration
- 120 min
- Pass mark
- 50/100
- Negative marking
- None
The certificate is valid for 3 years. Clearing this examination is what lets you apply to AMFI for an ARN, without which you cannot distribute mutual funds in India.
Syllabus and weightages
Twelve units, weighted as NISM publishes them. Investor Services and Mutual Fund Scheme Selection are 15% each of the paper — worth knowing before you decide where your week goes.
| Unit | Weight | Questions |
|---|---|---|
| 1. Investment Landscape | 8% | 8 |
| 2. Concept & Role of a Mutual Fund | 6% | 6 |
| 3. Legal Structure of Mutual Funds in India | 4% | 4 |
| 4. Legal and Regulatory Framework | 10% | 10 |
| 5. Scheme Related Information | 10% | 10 |
| 6. Fund Distribution and Channel Management Practices | 6% | 6 |
| 7. Net Asset Value, Total Expense Ratio and Pricing of Units | 8% | 8 |
| 8. Taxation | 4% | 4 |
| 9. Investor Services | 15% | 15 |
| 10. Risk, Return and Performance of Funds | 7% | 7 |
| 11. Mutual Fund Scheme Performance | 7% | 7 |
| 12. Mutual Fund Scheme Selection | 15% | 15 |
Common questions
Is this the actual NISM examination?
No. It is a practice paper written by CAPITA1 from the syllabus NISM publishes. The real examination is conducted by NISM and can only be taken through them.
Does passing this get me certified?
No. Only NISM certifies, through its own examination. This tells you where you stand before you book it.
What score do I need in the real exam?
50 out of 100, which is 50%. There is no negative marking, so an unanswered question and a wrong one cost the same — there is never a reason to leave one blank.
Do I get the same questions each time?
No. A fresh paper is drawn from the bank each attempt, weighted to the same syllabus split.