The NISM Series V-A: Mutual Fund Distributors Certification Examination is mandatory for all individuals who wish to sell or distribute mutual funds in India. Governed by SEBI, this certification is conducted by the National Institute of Securities Markets (NISM) and is a prerequisite for obtaining the AMFI Registration Number (ARN).
Practice with 2000+ questions based on the official March 2026 syllabus. Instant results, chapter-wise analysis, full explanations.
Questions distributed exactly as per NISM V-A March 2026 syllabus — Investor Services 15%, Scheme Selection 15%, Taxation 4% and more.
Submit and get your score, pass/fail verdict, chapter-wise breakdown, and detailed explanation for every single question.
Identify your weak chapters. See which units cost you marks so you can focus your revision where it matters.
Every attempt draws a fresh random set of 100 questions. No two exams are the same. Practice daily until exam-ready.
2-hour countdown timer mirrors the actual NISM exam environment. Build time-management skills before the real test.
Every correct answer comes with a detailed explanation citing SEBI circulars, AMFI guidelines, and regulatory specifics.
| Unit | Chapter | Marks | Questions in Bank | Weight |
|---|---|---|---|---|
| 1 | Investment Landscape | 8 | 160 | |
| 2 | Concept & Role of a Mutual Fund | 6 | 120 | |
| 3 | Legal Structure of Mutual Funds | 4 | 80 | |
| 4 | Legal & Regulatory Framework | 10 | 200 | |
| 5 | Scheme Related Information | 10 | 200 | |
| 6 | Fund Distribution & Channel Management | 6 | 120 | |
| 7 | NAV, Total Expense Ratio & Pricing | 8 | 160 | |
| 8 | Taxation | 4 | 80 | |
| 9 | Investor Services | 15 | 300 | |
| 10 | Risk, Return & Performance of Funds | 7 | 140 | |
| 11 | Mutual Fund Scheme Performance | 7 | 140 | |
| 12 | Mutual Fund Scheme Selection | 15 | 300 | |
| Total | 100 | 2000+ | 100% | |
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"Cleared NISM Series V-A on the first attempt with 78%. The 2000+ question bank is the best I found online — questions are actually close to the real exam pattern, not just textbook dumps."
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