NISM Series V-A Mutual Fund
Praveen Dubey (SEBI Registered RA)
SP RESEARCHVIA PVT. LTD. (INH000015808)
NISM Series V-A: Mutual Fund Distributors Certification
The NISM Series V-A: Mutual Fund Distributors Certification Examination is the mandatory qualification for anyone wishing to distribute mutual funds in India. After passing this exam, candidates can apply for the AMFI Registration Number (ARN) from the Association of Mutual Funds in India (AMFI), which authorises them to sell and advise on mutual fund products.
Exam Structure
Duration: 2 hours. Questions: 100 MCQs. Passing Marks: 50% (50 out of 100). Negative Marking: 25%. Fees: ₹1,500 + GST. Validity: 3 years. Note: The passing threshold is lower (50%) compared to other NISM exams, making this one of the more accessible certifications.
Detailed Syllabus
Unit 1 — Investment Landscape (5%): Savings vs investment, asset classes, financial planning. Unit 2 — Concept and Role of Mutual Fund (10%): Structure of MF, AMC, trustee, custodian, R&T agents. Unit 3 — Legal and Regulatory Framework (15%): SEBI MF Regulations 1996, AMFI code of conduct, KYC norms. Unit 4 — Offer Document (10%): SID, SAI, KIM, key information requirements. Unit 5 — Fund Distribution (20%): Investor servicing, SIP, SWP, STP, redemptions, NFOs. Unit 6 — Scheme Performance (15%): NAV, returns calculation, benchmarking, risk measures. Unit 7 — Investor Services (25%): KYC, nomination, folio consolidation, grievance redressal.
Career After NISM V-A
After obtaining your ARN number, you can work as an Independent Financial Advisor (IFA), join a distribution company, or become a sub-broker for mutual funds. The mutual fund industry in India is growing rapidly with AUM crossing ₹60 lakh crore — creating tremendous opportunity for certified distributors.
Regulatory Statutory Warning & Disclaimers
Investment in the securities market is subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Written by Praveen Dubey
Chief Research Analyst | SEBI Reg: INH000015808
Statutory Warning & Risk Disclaimer: Investment in securities market is subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Content provided on this blog is for informational and educational purposes only.