NISM V-A Pass Marks 2026: What Score Do You Need?

The NISM Series V-A (Mutual Fund Distributors) exam requires 50 marks out of 100 to pass. The paper has 100 multiple-choice questions of 1 mark each, to be completed in 2 hours, and there is no negative marking. Because a wrong answer and a blank answer both score zero, you should attempt every question.

Why to aim well above 50

The pass mark is fixed, so 50 is enough on paper. In practice, exam-day pressure, unfamiliar wording and time pressure tend to pull scores below what candidates get in practice. As a rule of thumb, BullWiser suggests you consistently score around 70 in full-length mocks before you book, so that 50 on the day feels comfortable rather than a coin toss. That is our guideline, not an NISM rule.

Where the marks are

Marks are not spread evenly. Investor Services and Mutual Fund Scheme Selection carry 15 marks each, and Legal and Regulatory Framework and Scheme Related Information carry 10 each. If you are short of time, secure those four chapters first. The chapter-wise weightage guide has the full table.

After the exam

Your certificate is issued within about two weeks if you gave your PAN at registration. If you do not pass, you register and pay for the exam again; NISM's candidate instructions that I checked do not state a waiting period between attempts, so check the portal when you rebook. The registration steps and fees are on their own pages.