NISM Series V-B mock test
Mutual Fund Foundation Certification Examination
The practice paper
Before you start
- 50 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 Foundation certification, the shorter qualification for the new cadre of mutual fund distributors. Fifty questions, no negative marking and a pass at 25, exactly as the examination has it — and an explanation for every answer.
- Questions
- 50
- Duration
- 120 min
- Pass mark
- 25/50
- Negative marking
- None
The certificate is valid for 3 years. Clearing this examination lets a person register with AMFI as part of the new cadre of mutual fund distributors, who may sell the limited set of schemes SEBI permits for that cadre.
Syllabus and weightages
Ten units, weighted as NISM publishes them. Investor Services alone is 20% of the paper — worth knowing before you decide where your week goes.
| Unit | Weight | Questions |
|---|---|---|
| 1. Investment Landscape | 6% | 3 |
| 2. Concept and Role of a Mutual Fund | 12% | 6 |
| 3. Legal Structure of Mutual Funds | 8% | 4 |
| 4. Mutual Fund Products for the New Cadre of Distributors | 6% | 3 |
| 5. Scheme Related Information | 12% | 6 |
| 6. Fund Distribution and Channel Management Practices | 10% | 5 |
| 7. Performance of Mutual Funds | 12% | 6 |
| 8. Mutual Fund Taxation | 6% | 3 |
| 9. Investor Services | 20% | 10 |
| 10. Legal and Regulatory Environment | 8% | 4 |
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?
25 out of 50, 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.