|Frequently Asked Questions|
1. Who can take NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination?
NISM has specified the NISM-Series-V-A: Mutual Fund Distributors Certification Examination as the mandated certification examination for distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products vide NISM communiqué NISM/Certification/Series-V-A: MFD/2010/01 dated May 05, 2010. SEBI has further mandated the same vide notification No. LAD-NRO/GN/2010-11/09/6422 dated May 31, 2010.
National Institute of Securities Markets (NISM) now announces the launch of a higher level examination, for those candidates who wish to assess themselves against higher standards of overall expertise related to mutual funds sales, distribution and advisory functions. The NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination is suitable for:
This examination is a voluntary examination and will be open to all. However, since it is a higher level examination, candidates are advised to pass the NISM-Series-V-A: Mutual Fund Distributors Certification Examination before appearing for the Level 2 examination.
2. How can I register for NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination?
Candidates can register with any of the following Test Administrators.
For registrations candidates may visit any of the above websites.
After successful registration, candidates may select a test centre, date and time slot of their choice on the Test Administrator website. Candidates are required to follow further instructions available on the Test Administrator websites.
3. What is the fee structure?
The fees for “NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination " is Rupees One Thousand Seven Hundred Ten only (Rs. 1710/-), inclusive of service taxes.
4. What is the assessment structure?
The examination consists of 8 caselets with 4 multiple choice questions of 2 marks each per caselet and 36 one mark multiple choice questions adding up to 100 marks. The examination should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60 marks.
Candidates are advised to be well-versed with the usage of Excel (spread sheet) functions discussed in the workbook.
5. Is there a study material available for preparing for this examination?
You will receive a soft copy of the workbook/study material after enrolment for the examination. For non-receipt of soft copy of the workbook/study material, you may contact the respective Test Administrator:
6. Do I have to pay for the study material?
You will receive a soft copy of the workbook/study material free of cost after enrolment for the examination.Candidate can buy NISM workbooks online through Taxmann Publications Private Ltd.
7. How can I appear for NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination mock test? Where do I get sample questions for NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination?
A mock test is currently unavailable. Please check later for updates.
8. I have passed NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination. When will I receive the certificate?
Only the candidates who have produced their Income Tax Permanent Account Number (PAN) during registration would receive the NISM Certificate within two weeks of appearing for the examination.
Candidates who produced other identification proofs would not receive the NISM certificate. They would receive only the temporary mark sheet at the end of the examination.
9. I have not provided my PAN information at the time of taking the certification examination. How do I obtain the certificate?
Candidates who have not provided their PAN information during registration may furnish their PAN details to the Test Administrator they have registered with anytime after taking the examination. After receiving and verifying PAN details, the candidate will receive the certificate from the Test Administrator they have registered with. No additional payments are necessary for obtaining the certificate.
10. I have passed NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination and also provided PAN details. However, I have not received the certificate. Whom should I contact?
For non-receipt of certificate contact the test administrator you have registered with for this examination. The respective email ids are given below:
11. What is the validity period of the certificate?
The certificate for NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination will be valid for 3 years from the date of the examination.
12. How do I renew my certificate?
To renew your current certificate, you need to appear for NISM CPE for Mutual Fund Distributors (Level 2) or successfully pass the NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination before the expiry of such certificate.
13. Can I request for re-evaluation of NISM Certification Examinations?
NISM Policy on Re-evaluation of performance of candidates appearing for Certification Examination and resolution of doubts about the questions forming part of such examination, if any.
“No re-evaluation of the performance of candidates appearing for Certification Examination conducted by NISM (Mandatory & Non-Mandatory examination) is permitted since the assessment of answers, with respect to Certification Examinations questions which are in the nature of selection of only one correct answers from multiple choices offered, is carried out in an objective manner by in-built system architecture created for Certification Examination without any scope for human intervention and subjectivity element.
Also, considering the examination structure, no disclosure of the questions and/or answers is permitted as it will violate the confidentiality of the question bank, which is the essence of the examination.
In view of the above, no communication regarding re-evaluation, etc. will be entertained/serviced by NISM.”
Subject to the above, request/s received from a candidate for resolution of doubts about a question forming part of such examination will be considered as per the following policy.