Mutual Fund Distributors (Level 2)

NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination

Discontinuation of NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination w.e.f. April 1, 2023.

NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination is a voluntary examination.

The examination seeks to enhance knowledge of associated persons, i.e., distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products, in order to enable a better understanding of features of advanced mutual fund products, fund valuation, fund performance measurements, investor service and related regulations.

Examination Objectives

On successful completion of the examination the candidate should:

• Understand the salient features of Fund of Funds, Exchange-Traded Funds, Real Estate Mutual Funds, Venture Capital Funds, Private Equity Funds and International Funds
• Know the legalities of real estate mutual funds, investment restrictions applicable to mutual fund schemes, and the processes for making changes in the structure of a mutual fund or any of its schemes
• Understand how equities, debt, derivatives and real estate are valued in mutual fund schemes
• Get oriented to the accounting aspects of NAV determination, investor’s transactions with the fund and corporate actions by investee companies
• Know how taxation affects mutual fund schemes and investors
• Appreciate how schemes are evaluated
• Get acquainted with the issues involved in selling alternate investment products

Assessment Structure

• This is a computer-based examination with multiple choice questions.
• The examination consists of 50 multiple choice questions of 1 mark each and 25 multiple choice questions of 2 marks each and adding up to 100 marks.
• The examination should be completed in 2 hours.
• There shall be negative marking of 25% of the marks assigned to a question.
• The passing score for the examination is 60 marks.

Test Details

Name of Examination: NISM-Series-V-C: Mutual Fund Distributors (Level 2)

⁺ Inclusive of Service Tax. Payment Gateway Charges extra.

~ 50 multiple-choice questions of 1 mark each and 25 multiple-choice questions of 2 marks each (Total 75 questions adding up to 100 marks).

* Negative marking – 25% of the marks assigned to the question.

# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.