NISM V-A Mutual Fund exam - Guide

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With effect from January 1, 2010 anybody who is involved in sales and distribution of mutual funds need to pass NISM V-A series mutual fund exam. This exam aims to set a minimum educational benchmark for mutual fund distributors.

Exemption from NISM series V-A mutual fund exam

A person who have completed 50 years and have 5 years experience in selling mutual funds. Any other person need to pass this exam to sell mutual fund schemes.

Exam Structure

It is an online test. There are 100 questions consists of 2 marks and 1 mark questions. There is 25% negative marking. So for every wrong answer, 0.5 marks will be deducted in case of  2 mark question and 0.25 will be deducted in case of 1 mark question. The result of exam will be shown to you when
you finish the test.

Important facts about NISM mutual fund exam

Particulars                            Resources
Number of questions 80-100
Time allotted 120 minutes
Passing marks 50%
Mode Online
Registration NISM official website
Slot availability Check here
Level of difficulty Easy
Examination fees Rs 1250
Certification validity 3 Years
Test venue Check here
Special requirement PAN

Study Material

NISM provides publish a book for this exam every year. You can download for free after paying the registration fee from the official NISM website. Always follow latest book because many questions are asked about latest updates.


What are the important dates to apply for NISM mutual fund exam ?

There are no such dates. This exam is conducted many times every week. You need to find the available slot in your city on desirable time.

How many times I can appear for NISM mutual fund exam ?

There is no such limit.

How to prepare for NISM mutual fund exam ?

NISM provides publishes a book specifically for this exam. You can download the softcopy of the book once you pay the exam fees. There is one demo test available on official NISM website. Many questions are repeated and 90% of the questions are asked from book provided by NISM. Level is exam is easy. You need to read a 300 page book and attempt 4-5 mock tests. This is more than sufficient to pass this exam.

Do I need to have PAN to appear for this exam ?

No, it is not mandatory to have PAN to appear for exam but to get the certification, it is mandatory that you submit your PAN to the official NISM website. In the profile option you can fill your PAN details anytime.


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