NISM Series V-A Chapter 6: Fund Distribution and Channel Management Practices Practice Questions

Question 1

What is the primary objective of the Employee Unique Identification Number (EUIN) for employees of mutual fund distributors, as mandated by SEBI?

Accepted Answer

To ensure that the specific employee who advised the investor is identified, even if the employee moves to another organization.. The EUIN was introduced by SEBI to address instances of mis-selling, by ensuring that the specific employee who rendered advice or sales service to the investor is identified. This helps in fixing accountability and grievance redressal, even if the employee subsequently changes organizations. (SEBI Circular CIR/IMD/DF/21/2012 dated September 13, 2012)

Question 2

An MFD recommends a highly volatile sector-specific equity fund to a retired individual with a low-risk appetite and immediate need for regular income. This action is most likely a violation of which AMFI principle?

Accepted Answer

Principle of suitability.. Recommending an unsuitable product (high-risk, volatile fund) to an investor with a low-risk appetite and income needs is a direct violation of the Principle of Suitability, which mandates distributors to recommend products aligned with the investor's financial situation, investment objectives, and risk tolerance.

Question 3

For a mutual fund investment of INR 10,000 or more, what is the maximum transaction charge a distributor can levy for an EXISTING investor in a scheme?

Accepted Answer

INR 100. As per AMFI guidelines, for investments equal to or more than INR 10,000, a distributor can levy a transaction charge of INR 150 for new investors and INR 100 for existing investors in a scheme. For investments below INR 10,000, no transaction charge is applicable.

Question 4

Banks acting as mutual fund distributors leverage their extensive branch network and existing customer base. Which of the following is a primary regulatory requirement for banks distributing mutual funds?

Accepted Answer

They must ensure compliance with SEBI and AMFI guidelines for distribution, including KYC and investor suitability.. Banks, like any other mutual fund distributor, must obtain an ARN from AMFI and comply with all SEBI and AMFI regulations regarding distribution. This includes strict adherence to KYC norms, ensuring investor suitability and appropriateness, and proper disclosure of commissions. They offer regular plans, are not exempt from ARN, and cannot charge separate advisory fees if acting solely as a distributor.

Question 5

As per SEBI regulations, how are transaction charges for mutual fund purchases handled by distributors?

Accepted Answer

They are deducted from the investor's subscription amount and paid to the distributor.. For purchases of Rs. 10,000 and above, a transaction charge of Rs. 100 (for existing investors) or Rs. 150 (for first-time investors) is deducted from the investor's subscription amount and paid to the distributor. This is a specific mechanism for distributor remuneration for certain transactions and is not absorbed by the distributor, paid by the AMC, or added to the TER.

Question 6

According to SEBI regulations, what is the current permissible mode for charging commission by Mutual Fund Distributors for regular plans?

Accepted Answer

Only trail commissions paid out of the fund's Total Expense Ratio (TER).. SEBI regulations, effective from October 2012, prohibit upfront commissions paid by AMCs to distributors. Distributors now receive only trail commissions, which are paid out of the Total Expense Ratio (TER) of the scheme.

Question 7

According to the AMFI Code of Conduct for Mutual Fund Distributors, what is the maximum value of a gift or benefit that a distributor can accept from an AMC or its associate for business promotion purposes per year?

Accepted Answer

INR 1,000. As per AMFI guidelines (Circular CIR/DD/11/13-14 dated August 22, 2013), distributors are restricted from accepting gifts or benefits exceeding INR 1,000 in value per year from any AMC or its associates for business promotion.

Question 8

A SEBI Registered Investment Adviser (RIA) who also wishes to distribute mutual fund products must adhere to which of the following regarding their activities?

Accepted Answer

They must maintain a clear segregation between their advisory and distribution activities to avoid conflicts of interest.. SEBI (Investment Advisers) Regulations, 2013, mandate a clear segregation between investment advisory and distribution activities. An RIA cannot earn a commission from distributing a product for which they have also provided advice and charged a fee, to prevent conflicts of interest.

Question 9

What is the primary objective of the 'B30 incentive' for mutual fund distributors?

Accepted Answer

To incentivize mutual fund distributors to procure business from cities beyond the top 30 cities.. The B30 incentive (Beyond 30 cities) was introduced by SEBI to encourage mutual fund distributors to expand their reach and procure business from smaller cities and towns, thereby promoting deeper penetration of mutual funds and financial inclusion.

Question 10

Which of the following is NOT a primary service offered by a Mutual Fund Distributor (MFD) to investors?

Accepted Answer

Offering guarantees on fund performance.. Mutual Fund Distributors (MFDs) are not permitted to guarantee fund performance, as mutual fund investments are subject to market risks. Their role is advisory and facilitative, encompassing KYC, transaction processing, and product explanation.

Question 11

The Mutual Fund Utilities (MFU) platform offers several benefits to investors and distributors in the mutual fund ecosystem. Which of the following is NOT a primary feature or benefit offered directly by MFU?

Accepted Answer

Offering personalized investment advice and fund recommendations to investors based on their risk profile.. MFU is a transaction aggregation platform designed to simplify mutual fund transactions across various AMCs. It provides a single window for transactions, allows for plan switches, and facilitates the Common Account Number (CAN). However, MFU itself is a transaction platform and does not offer investment advice or personalized fund recommendations; that remains the domain of mutual fund distributors or SEBI registered investment advisors.

Question 12

If an investor has a grievance or complaint specifically against a mutual fund distributor regarding their services, what is the recommended initial step for seeking redressal?

Accepted Answer

First approach the distributor themselves, and if unresolved, then escalate to the concerned AMC.. The standard grievance redressal mechanism suggests that an investor should first approach the distributor with their complaint. If the issue remains unresolved at the distributor's end, the next step is to escalate it to the concerned Asset Management Company (AMC). If the AMC also fails to resolve it, the investor can then approach AMFI or SEBI (through SCORES).

Question 13

What is the primary characteristic that differentiates a 'Direct Plan' from a 'Regular Plan' in a mutual fund scheme?

Accepted Answer

Direct Plans do not involve a distributor and thus have a lower expense ratio.. A Direct Plan allows investors to invest directly with the Asset Management Company (AMC) without routing the investment through a distributor. As a result, it does not include distributor commissions in its expense ratio, making it typically cheaper than a Regular Plan of the same scheme.

Question 14

A mutual fund distributor frequently advises an investor to switch between different schemes or plans within a short period, even when these switches do not align with the investor's stated financial goals or risk profile, and primarily result in transaction costs and increased commissions for the distributor. This unethical practice is commonly known as:

Accepted Answer

Churning.. Churning refers to the unethical practice where a distributor encourages an investor to frequently buy and sell mutual fund units or switch between schemes, primarily to generate more commissions for the distributor, rather than serving the investor's best interests or financial goals. This practice often leads to unnecessary transaction costs for the investor.

Question 15

Which of the following types of mutual fund distributors typically operates with a pan-India presence, has a large network of branches, and offers a wider range of financial products beyond just mutual funds?

Accepted Answer

National Distributor. National Distributors are characterized by their pan-India presence, large distribution network, and often offer a diversified portfolio of financial products. Banks also have a wide presence but are primarily banking institutions that also distribute MFs. IFAs are typically individual entrepreneurs, and robo-advisors are automated platforms.

Question 16

The Employee Unique Identification Number (EUIN) is mandatory for mutual fund transactions where advice or interaction has occurred. What is its primary purpose?

Accepted Answer

To identify the distributor's employee who advised or interacted with the investor for the transaction.. The EUIN (Employee Unique Identification Number) is a unique number allotted to the employees of distributors engaged in sales and advisory functions. Its primary purpose is to identify the distributor's employee who has advised or interacted with the investor for a particular transaction, ensuring accountability and addressing potential mis-selling.

Question 17

SEBI permits Asset Management Companies (AMCs) to pay additional incentives to mutual fund distributors for investments originating from B30 cities. What is the primary objective behind this specific regulation?

Accepted Answer

To promote mutual fund penetration and expand the investor base in cities beyond the top 30.. SEBI introduced and regulates additional incentives for distributors for net inflows from B30 (Beyond Top 30) cities. The primary objective is to encourage the spread of mutual fund investments into less penetrated regions of the country, thereby increasing financial inclusion and expanding the overall investor base.

Question 18

Beyond verifying the AMFI Registration Number (ARN), what is a key ongoing due diligence responsibility of an Asset Management Company (AMC) towards its empaneled distributors?

Accepted Answer

To conduct Know Your Distributor (KYD) checks and monitor their adherence to the AMFI Code of Conduct.. AMCs are mandated by SEBI to conduct ongoing due diligence on their empaneled distributors, which includes Know Your Distributor (KYD) checks, continuous monitoring of their activities, and ensuring their compliance with the AMFI Code of Conduct and other regulatory requirements to prevent mis-selling and unethical practices.

Question 19

An online platform that facilitates mutual fund transactions for investors, offering both regular and direct plans, typically operates under which of the following regulatory models for its distribution activities?

Accepted Answer

It typically registers as a mutual fund distributor (e.g., with AMFI) and earns trail commissions from AMCs for regular plans.. Most online platforms that facilitate mutual fund transactions for investors are registered as mutual fund distributors (e.g., through AMFI/RTA). For regular plans, they earn trail commissions from AMCs for the assets serviced. They may also offer direct plans where no commission is paid to the distributor.

Question 20

According to SEBI regulations, what is the current status regarding the payment of upfront commissions to mutual fund distributors by Asset Management Companies (AMCs)?

Accepted Answer

Upfront commissions are completely banned by SEBI.. SEBI, in its circular dated September 18, 2009, banned the payment of upfront commissions to distributors by AMCs. This measure was introduced to curb mis-selling and promote trail-based compensation, thereby aligning distributor interests with investor retention and long-term investment.

Question 21

A mutual fund distributor received an upfront commission for facilitating a new Systematic Investment Plan (SIP) registration. If the investor cancels this SIP within the first 12 months, the distributor might be required by the AMC to return a portion of the commission. This mechanism is commonly known as:

Accepted Answer

Clawback provision.. Clawback refers to the recovery of commissions from distributors by AMCs if investments are redeemed or cancelled within a specified short period (e.g., 12 months for equity schemes, as per industry practice), particularly for upfront commissions paid on new investments or SIPs. This mechanism discourages churning and ensures genuine, long-term investments.

Question 22

As per AMFI guidelines for Mutual Fund Distributors (MFDs) offering online transaction facilities to investors through their own digital platform, which of the following is a mandatory requirement?

Accepted Answer

The MFD must prominently display their ARN and EUIN on their digital platform.. AMFI guidelines for MFDs using digital platforms emphasize transparency and investor protection. It is mandatory for MFDs to prominently display their ARN (AMFI Registration Number) and EUIN (Employee Unique Identification Number) on their digital platforms to ensure accountability and enable investors to identify the distributor. Not all MFD platforms need to be registered as IAs, nor do all transactions necessarily go through stock exchanges, and MFDs typically offer regular plans, not just direct plans.

Question 23

What is the primary purpose of the AMFI Registration Number (ARN) for a mutual fund distributor?

Accepted Answer

To enable the distributor to receive commissions for sales.. The ARN is a unique number issued by AMFI that is mandatory for any individual or entity to distribute mutual funds and receive commissions for their sales. It ensures proper tracking and regulatory oversight.

Question 24

Which of the following is a critical responsibility of a mutual fund distributor related to Anti-Money Laundering (AML) compliance?

Accepted Answer

To conduct customer due diligence, including verifying the identity and address of the investor as per PMLA guidelines, and report suspicious activities to the AMC/RTA.. Distributors are considered 'Designated Persons' under AML/CFT guidelines and are responsible for conducting customer due diligence (KYC), understanding the source of funds, and reporting any suspicious transactions to the AMC/RTA, who then report to FIU-IND. They do not directly report to FIU-IND. (Prevention of Money Laundering Act (PMLA), SEBI AML Circulars).

Question 25

An investor invests in a mutual fund through an online platform where no specific distributor's employee directly facilitated the transaction. However, the investor had previously interacted with a distributor's employee for general advice on mutual funds. In such a scenario, what is the correct practice regarding the Employee Unique Identification Number (EUIN)?

Accepted Answer

The EUIN of the distributor's employee must still be captured to link the transaction to their advice, even if not directly facilitated.. The EUIN is mandatory for all sales persons of distributors who interact with investors. Its purpose is to identify the employee who has advised or interacted with the investor for a specific transaction, even if the transaction is executed later or through a different channel (like online). This helps in addressing mis-selling complaints later by attributing responsibility. (AMFI Best Practice Guidelines Circular No. 135/BP/68/2009-10 dated January 15, 2010, and subsequent clarifications).

Question 26

As per AMFI guidelines, what is the maximum transaction charge an AMC can deduct for a subscription of Rs. 10,000 or more for a NEW investor?

Accepted Answer

Rs. 150. As per AMFI guidelines, for subscriptions of Rs. 10,000 and above, a transaction charge of Rs. 150 is deductible for new investors. For existing investors, the transaction charge is Rs. 100. No transaction charge is applicable for subscriptions below Rs. 10,000.

Question 27

What is the standard validity period for an AMFI Registration Number (ARN) issued to a mutual fund distributor?

Accepted Answer

3 years. The AMFI Registration Number (ARN) is valid for a period of three years from the date of issue and needs to be renewed thereafter to continue distributing mutual fund products.

Question 28

What is a primary advantage for an investor using an online platform for mutual fund distribution?

Accepted Answer

Enhanced convenience, 24/7 access, and a wider choice of schemes from various AMCs.. Online mutual fund platforms offer significant advantages such as the convenience of investing anytime, anywhere, 24/7 access to account information, and the ability to compare and choose from a wide array of schemes across multiple Asset Management Companies (AMCs). They do not guarantee higher returns, typically offer limited personalized advice (unless it's a robo-advisor), and do not exempt investors from KYC or lower tax liabilities.

Question 29

What is the maximum transaction charge that a mutual fund distributor can levy on an existing investor making a purchase of Rs. 10,000 or more in a scheme, assuming the investor has not opted out?

Accepted Answer

Rs. 100. As per SEBI regulations, a transaction charge of Rs. 150 is levied for new investors and Rs. 100 for existing investors for investments of Rs. 10,000 or more made through a distributor. This charge is deducted from the investment amount, and investors have the option to opt out.

Question 30

According to SEBI regulations, which statement is true regarding the disclosure of commissions paid to distributors for mutual fund schemes?

Accepted Answer

Distributors are required to disclose all types of commissions (upfront and trail) received from AMCs to their investors in the Consolidated Account Statement (CAS) and also in the Scheme Information Document (SID).. SEBI mandates comprehensive disclosure of all commissions, both upfront and trail, paid to distributors. This information must be clearly provided to investors, including in the Consolidated Account Statement (CAS) and the Scheme Information Document (SID), to enhance transparency and allow investors to make informed decisions. (SEBI Circulars on Transparency and Disclosure regarding distributor commissions).

Question 31

In which of the following scenarios is a mutual fund distributor most likely to face a 'clawback' of commissions by the Asset Management Company (AMC)?

Accepted Answer

The investor switches from a regular plan to a direct plan within a short period (e.g., 365 days) after initial investment.. Clawback provisions are typically invoked when investors redeem or switch their investments (especially from regular to direct plans) within a short period (e.g., 365 days for equity funds or as specified by the AMC) after the initial investment. This allows the AMC to recover the upfront commission paid to the distributor, as the investment did not stay for the expected minimum period.

Question 32

A mutual fund distributor advises a retired, risk-averse individual to invest a significant portion of their life savings into a sector-specific equity fund, emphasizing potential high returns without adequately disclosing the associated high risks. This action is a clear violation of which fundamental principle for mutual fund distributors?

Accepted Answer

Principle of 'Suitability and Appropriateness'.. Mutual fund distributors have a crucial responsibility to ensure that the products they recommend are suitable and appropriate for the client's financial situation, risk profile, and investment objectives. Recommending a high-risk product like a sector fund to a risk-averse retiree without proper disclosure and assessment of suitability constitutes mis-selling. (AMFI Guidelines for Distributors, SEBI (Mutual Funds) Regulations, 1996 - regarding investor protection and fair practices)

Question 33

What is the primary purpose of the Employee Unique Identification Number (EUIN) in mutual fund transactions?

Accepted Answer

To identify the specific employee or sales person of the distributor who handled the transaction.. The EUIN helps to identify the individual employee or salesperson of the distributor who has advised or interacted with the investor for a specific transaction. This ensures accountability and helps in addressing any potential mis-selling issues, even if the distributor changes employers. (AMFI Circulars, NISM Study Material)

Question 34

An AMFI registered mutual fund distributor advises a client to invest in a specific equity scheme based solely on the fact that it offers the highest trail commission among available schemes, despite the client's stated preference for a low-risk, debt-oriented portfolio. This action primarily violates which core principle of the AMFI Code of Conduct?

Accepted Answer

Principle of fair and honest dealings, and suitability for the investor.. The AMFI Code of Conduct emphasizes that distributors must act honestly and fairly in all their dealings and always in the best interest of their clients. Recommending a product primarily based on commission, without considering the client's risk profile and financial goals, directly violates the principle of suitability and fair dealing. (AMFI Code of Conduct for Intermediaries of Mutual Funds)

Question 35

What is the key distinguishing feature of a 'Direct Plan' of a mutual fund scheme compared to a 'Regular Plan'?

Accepted Answer

Direct Plans have a lower expense ratio because they do not include distribution commission.. The primary distinguishing feature of a Direct Plan is its lower expense ratio compared to a Regular Plan of the same scheme. This is because Direct Plans do not incur distribution commissions or marketing expenses, as investors invest directly with the AMC without an intermediary.

Question 36

What is the primary role of a mutual fund distributor?

Accepted Answer

Connecting investors with suitable mutual fund schemes and facilitating transactions.. A mutual fund distributor primarily acts as an intermediary, helping investors understand mutual fund products, assessing their suitability, and facilitating their investments and redemptions in various schemes.

Question 37

As per SEBI regulations, which type of commission is explicitly prohibited for mutual fund distributors from being paid by Asset Management Companies (AMCs) to prevent the practice of 'churning'?

Accepted Answer

Upfront commission. SEBI banned upfront commissions to mutual fund distributors in 2009. This measure was taken to discourage distributors from frequent churning of investor portfolios for the sole purpose of earning new commissions, thereby promoting a focus on long-term investing and trail commissions. (SEBI Circular SEBI/IMD/CIR No. 4/168237/09 dated June 30, 2009)

Question 38

Beyond standard Know Your Customer (KYC) compliance, what is a critical due diligence responsibility of a mutual fund distributor towards an investor?

Accepted Answer

Conducting a risk profiling and suitability assessment before recommending any mutual fund schemes.. Distributors have a fiduciary responsibility to ensure that the products recommended are suitable for the investor. This requires conducting a proper risk profiling and suitability assessment to understand the investor's risk appetite, financial goals, and investment horizon, before making recommendations. (AMFI Code of Conduct, SEBI (Mutual Funds) Regulations).

Question 39

An investor chooses to invest in a 'Direct Plan' of a mutual fund scheme. What is the primary implication for a mutual fund distributor in this scenario?

Accepted Answer

The distributor will not receive any commission from the AMC.. Direct Plans are designed for investors who wish to invest directly with the AMC without routing through a distributor. Consequently, no distribution commission (upfront or trail) is paid out of the scheme's TER for investments made in Direct Plans.

Question 40

Which of the following statements is TRUE regarding 'Direct Plans' of mutual fund schemes?

Accepted Answer

Direct plans do not involve any distribution commission, leading to a lower expense ratio for investors.. Direct plans are designed for investors who choose to invest directly with the AMC, without routing their investment through a distributor. Consequently, these plans do not carry any distribution commission or expenses, resulting in a lower Total Expense Ratio (TER) compared to regular plans of the same scheme. Investors in direct plans do not receive investment advice from the AMC, and direct plans are available to all categories of investors, including retail individuals.

Question 41

Which of the following is NOT a mandatory due diligence requirement for a mutual fund distributor when recommending a scheme to an investor?

Accepted Answer

Verifying the investor's current investment portfolio with other AMCs.. While understanding an investor's overall financial situation is good practice, explicitly *verifying* the investor's current investment portfolio with *other AMCs* is not a mandatory regulatory due diligence requirement for distributors. Assessing risk profile, ensuring KYC compliance, and explaining scheme details are mandatory requirements.

Question 42

As per SEBI regulations, what is the mandatory requirement regarding commission disclosure by a mutual fund distributor to an investor for a specific transaction?

Accepted Answer

The distributor must disclose the exact percentage of commission received for that transaction.. SEBI regulations mandate that mutual fund distributors must disclose to investors all commissions (in absolute terms and not just in percentage terms) received from AMCs for a specific transaction. This is to ensure transparency and prevent mis-selling. (Refer to SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, and subsequent clarifications).

Question 43

An investor making an investment of ₹12,000 in a mutual fund scheme through a distributor for the first time will have a transaction charge deducted. What is the standard transaction charge applicable for such an investor?

Accepted Answer

₹150. As per SEBI regulations, a transaction charge of ₹150 is levied on investments of ₹10,000 and above made by first-time mutual fund investors through a distributor. For existing investors, the charge is ₹100. No transaction charge is applicable for investments below ₹10,000.

Question 44

What is the primary purpose of the Employee Unique Identification Number (EUIN) in mutual fund transactions?

Accepted Answer

To track the specific employee or sales person of the distributor who advised the investor, ensuring accountability.. The Employee Unique Identification Number (EUIN) is mandatory for every employee of a distributor who engages in selling mutual fund products. Its primary purpose is to enable tracking of the specific individual who advised the investor, thereby ensuring accountability and addressing mis-selling.

Question 45

When a bank acts as a mutual fund distributor, which of the following is a mandatory regulatory requirement for its employees involved in selling mutual fund products?

Accepted Answer

Employees must obtain an EUIN and clear the NISM Series V-A (Mutual Fund Distributors Certification Examination).. Any individual, including bank employees, who engages in the sales and distribution of mutual fund products must clear the NISM Series V-A (Mutual Fund Distributors Certification Examination) and obtain an Employee Unique Identification Number (EUIN). The bank itself obtains an ARN, but the individuals selling must also be qualified.

Question 46

A mutual fund distributor recommends a highly volatile sector-specific equity fund to an elderly investor whose primary objective is capital preservation and who has a low-risk tolerance. The distributor did not conduct a thorough risk profiling. If the investment performs poorly, which fundamental principle of mutual fund distribution has the distributor most likely violated?

Accepted Answer

The principle of 'suitability' and 'appropriateness' of the investment.. The distributor has a fiduciary responsibility to ensure that the investment recommended is suitable and appropriate for the investor's risk profile, investment objectives, and financial situation. Recommending a high-risk fund for a capital preservation objective to an investor with low-risk tolerance is a clear violation of suitability and appropriateness principles, which constitutes mis-selling. 'Best execution' relates to timely and efficient transaction processing. 'Fair pricing' is handled by the AMC/Registrar. 'Due diligence on AMC's operational efficiency' is a general expectation but not the primary violation in this scenario.

Question 47

What is the maximum validity period for an AMFI Registration Number (ARN) for an individual mutual fund distributor?

Accepted Answer

3 years. An AMFI Registration Number (ARN) for an individual mutual fund distributor is valid for a period of 3 years. It needs to be renewed before its expiry by fulfilling the stipulated conditions, including passing the NISM CPE or re-certification examination.

Question 48

As per SEBI regulations, when must a mutual fund distributor disclose the commissions earned from various schemes to the investor?

Accepted Answer

At the time of investment, in a consolidated form, and AMCs must provide consolidated, scheme-wise, distributor-wise commission disclosures to investors on a half-yearly basis.. SEBI mandates distributors to disclose all commissions (including any upfront and trail commission) to investors at the time of investment, in a consolidated form. Furthermore, AMCs are required to provide a consolidated account statement (CAS) with scheme-wise, distributor-wise commission disclosures on a half-yearly basis to investors for their investments. (SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2016/42 dated March 18, 2016 and subsequent clarifications).

Question 49

What is the primary purpose of the Employee Unique Identification Number (EUIN) in mutual fund transactions?

Accepted Answer

To identify the specific employee/sales person of a distributor who advised the investor.. The EUIN (Employee Unique Identification Number) helps in identifying the specific employee/sales person of the distributor who has handled the transaction. This measure was introduced by SEBI to fix accountability for any mis-selling, even if the distributor changes their employer. (SEBI Circular CIR/IMD/DF/21/2012 dated September 13, 2012).

Question 50

Which entity is primarily responsible for registering and issuing AMFI Registration Numbers (ARNs) to mutual fund distributors in India?

Accepted Answer

Association of Mutual Funds in India (AMFI). AMFI (Association of Mutual Funds in India) is the designated body responsible for registering and issuing AMFI Registration Numbers (ARNs) to mutual fund distributors, ensuring they meet eligibility criteria and adhere to the code of conduct.

Ch.6: Fund Distribution and Channel Management Practices

What You Will Learn in This Chapter

Multiple Choice Questions (120)

Most candidates guess their way through V-A.
BullWiser makes you prove it.

Ch.6: Fund Distribution and Channel Management Practices

What You Will Learn in This Chapter

Multiple Choice Questions (120)

Most candidates guess their way through V-A.BullWiser makes you prove it.

Most candidates guess their way through V-A.
BullWiser makes you prove it.