NISM Series V-A: Mutual Fund Distributors
A structured learning section for the NISM Series V-A Mutual Fund Distributors Certification Examination. The aim is to understand the concepts first, remember the important distinctions and then practise applying them to examination questions.
How to use this section
Study the lessons in sequence if you are new to mutual funds. If you are revising for the examination, open the topic you find difficult and finish its recall questions before moving to the next topic.
Study the lessons in sequence if you are new to mutual funds. If you are revising for the examination, open the topic you find difficult and finish its recall questions before moving to the next topic.
Start with the foundations
1. Investment Landscape
Financial goals, saving and investing, asset classes, risk,
risk profiling and asset allocation.
2. Understanding Mutual Funds
What a mutual fund is, why it exists and how pooled investing
works.
3. Types of Mutual Funds
Understand the major classifications instead of simply
memorising scheme names.
4. Mutual Fund Structure
Sponsor, trustees, AMC, custodian and other important
participants explained through their roles.
Operations and regulation
5. Regulation and Investor Protection
Regulators, important responsibilities, investor protection
and the role of AMFI.
6. Mutual Fund Distribution
The distributor’s role, distribution channels and important
conduct concepts.
7. NAV, TER and Unit Pricing
Learn NAV through calculations and understand how expenses
affect a scheme.
8. Mutual Fund Taxation
A dated and regularly reviewed section covering taxation
concepts relevant to the examination.
Investor transactions and analysis
9. Investor Services
NFOs, transactions, KYC, systematic transactions and important
operational concepts.
10. Risk and Return
Return calculations, sources of risk and the measures used to
understand investment risk.
11. Scheme Performance
Benchmarks, performance measurement and important analytical
concepts.
12. Scheme Selection
Connect investor needs, goals, time horizon and risk profile
with appropriate scheme characteristics.
Revision and practice
Quick Revision
Condensed concepts for the final stage of preparation.
Practice Questions
Original concept-based questions with explanations rather than
answers alone.
Common Exam Traps
Closely related terms and statements that are easy to confuse.
Calculation Practice
NAV, returns and other numerical concepts worked out step by
step.
Start studying
If you are beginning NISM V-A preparation, start with Investment Landscape. It provides the foundation for understanding investor needs, risk and asset allocation before moving into mutual funds.
Start Lesson 1