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NISM Series V-D · Specialised Investment Fund Distributors

Mutual Fund – Specialised Investment
Fund Distributors Exam Prep

900+ practice questions across all 22 chapters of the NISM-Series-V-D workbook — mutual fund fundamentals and distribution, plus the full equity and interest rate derivatives syllabus. Answers and explanations included. No signup needed to study.

900+
Questions
22
Chapters
150
Exam Marks
180m
Duration
60%
Pass Score
Free
1 Mock
NISM SERIES V-D MOCK TEST — FREE
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150 MCQs · 180 min · −10% negative marking · 2 free attempts
Part of BullWiser's 8,000+ question NISM prep library across 5 certifications (V-A, V-D, X-A, X-B, XV)
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Exam Pattern150 MCQs, 1 mark each — no case-based questions
Negative Marking10% of a question's marks per wrong answer · 0 for skipped
Pass Threshold90 out of 150 marks (60%)
Based OnNISM-Series-V-D: Mutual Fund – Specialised Investment Fund Distributors Workbook, March 2026
Study Chapter by Chapter
Module 1 · Mutual Fund Distribution (68 marks)
Ch. 15 marks
Investment Landscape
45 MCQs →
Ch. 24 marks
Concept & Role of a Mutual Fund
25 MCQs →
Ch. 33 marks
Legal Structure of Mutual Funds in India
25 MCQs →
Ch. 47 marks
Legal and Regulatory Framework
50 MCQs →
Ch. 57 marks
Scheme Related Information
50 MCQs →
Ch. 64 marks
Fund Distribution and Channel Management Practices
49 MCQs →
Ch. 75 marks
Net Asset Value, Total Expense Ratio and Pricing of Units
50 MCQs →
Ch. 83 marks
Taxation
25 MCQs →
Ch. 910 marks ⭐
Investor Services
50 MCQs →
Ch. 105 marks
Risk, Return and Performance of Funds
43 MCQs →
Ch. 115 marks
Mutual Fund Scheme Performance
45 MCQs →
Ch. 1210 marks ⭐
Mutual Fund Scheme Selection
25 MCQs →
Module 2 · Equity Derivatives (52 marks)
Ch. 1310 marks ⭐
Basics of Derivatives
30 MCQs →
Ch. 145 marks
Understanding Index
30 MCQs →
Ch. 1515 marks ⭐
Introduction to Forwards and Futures
50 MCQs →
Ch. 1613 marks ⭐
Introduction to Options
48 MCQs →
Ch. 179 marks
Strategies using Equity Futures and Equity Options
41 MCQs →
Module 3 · Interest Rate Derivatives (30 marks)
Ch. 186 marks
Interest Rate Instruments and Fixed Income Markets
60 MCQs →
Ch. 192 marks
Interest Rate Derivatives
28 MCQs →
Ch. 2010 marks ⭐
Exchange Traded Interest Rate Futures
42 MCQs →
Ch. 216 marks
Exchange Traded Interest Rate Options
51 MCQs →
Ch. 226 marks
Strategies using Interest Rate Derivatives
42 MCQs →

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Full 180-minute mock with all 22 chapters and NISM-accurate scoring.

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Frequently Asked Questions

What is NISM Series V-D and who needs it?

A newly introduced certification (per NISM's July 2026 communique) for distributors of Specialised Investment Funds (SIFs). It covers standard mutual fund distribution topics plus equity and interest rate derivatives.

What is the passing score for NISM Series V-D?

90 out of 150 marks (60%). 150 MCQs worth 1 mark each, no case-based questions, over 180 minutes.

Is there negative marking in the NISM Series V-D exam?

Yes, but lighter than X-A/X-B/XV: 10% of a question's marks is deducted per wrong answer, with no penalty for skipped questions.

What is the NISM Series V-D exam fee?

Approximately ₹3,000 plus GST (~₹3,540 total). As a newly launched exam, confirm the exact current fee on NISM's official website before registering.

How many chapters are in the syllabus?

22 chapters — the same fundamentals as NISM V-A (12 chapters) plus 10 more on equity and interest rate derivatives specific to SIFs.

Is the BullWiser mock test really free?

Yes — a full 180-minute mock (150 MCQs, NISM-accurate scoring) is free with no signup, and all 900+ practice questions are free. A ₹199 condensed-notes PDF is an optional add-on.

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