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NISM Study Hub

Everything for the Mutual Fund Distributor and Investment Adviser exams, free: chapter notes with sample questions, ten timed mock tests per exam, formula sheets, a 30-day planner and a shareable practice certificate. English and Hindi. No login. / एनआईएसएम परीक्षाओं की पूरी तैयारी — मुफ़्त, हिंदी और अंग्रेज़ी में।

NISM Series V-A — Mutual Fund Distributors Certification Examination

100 questions · 120 minutes · 50% to pass · no negative marking12 chapters
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Chapter notes & sample questions

1. Investment Landscape · 8%2. Concept and Role of a Mutual Fund · 6%3. Legal Structure of Mutual Funds in India · 4%4. Legal and Regulatory Framework · 10%5. Scheme Related Information · 10%6. Fund Distribution and Channel Management · 6%7. NAV, Total Expense Ratio and Pricing of Units · 8%8. Taxation · 4%9. Investor Services · 15%10. Risk, Return and Performance of Funds · 7%11. Mutual Fund Scheme Performance · 7%12. Mutual Fund Scheme Selection · 15%

NISM Series V-D — Mutual Fund – Specialized Investment Fund (SIF) Distributors Certification Examination

150 questions · 180 minutes · 60% to pass · −0.10 per wrong answer22 chapters
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Chapter notes & sample questions

1. Investment Landscape · 5%2. Concept and Role of a Mutual Fund · 4%3. Legal Structure of Mutual Funds in India · 3%4. Legal and Regulatory Framework · 7%5. Scheme Related Information · 7%6. Fund Distribution and Channel Management · 4%7. NAV, Total Expense Ratio and Pricing of Units · 5%8. Taxation · 3%9. Investor Services · 10%10. Risk, Return and Performance of Funds · 5%11. Mutual Fund Scheme Performance · 5%12. Mutual Fund Scheme Selection · 10%13. Basics of Derivatives · 10%14. Understanding the Index · 5%15. Introduction to Forwards and Futures · 15%16. Introduction to Options · 13%17. Strategies using Equity Futures and Options · 9%18. Interest Rate, Instruments and Fixed Income · 6%19. Interest Rate Derivatives · 2%20. Exchange Traded Interest Rate Futures · 10%21. Exchange Traded Interest Rate Options · 6%22. Strategies using Interest Rate Derivatives · 6%

NISM Series X-A — Investment Adviser (Level 1) Certification Examination

90 MCQs + 9 case studies · 150 marks · 3 hours · 60% to pass · −25% of a question's marks per wrong answer20 chapters30 case studies
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Chapter notes & sample questions

1. Introduction to Personal Financial Planning · 7 marks2. Time Value of Money · 7 marks3. Evaluating the Financial Position of Clients · 10 marks4. Debt Management and Loans · 13 marks5. Introduction to the Indian Financial Markets · 4 marks6. Securities Market Segments · 6 marks7. Introduction to Investment · 3 marks8. Investing in Stocks · 8 marks9. Investing in Fixed Income Securities · 13 marks10. Understanding Derivatives · 6 marks11. Mutual Funds · 14 marks12. Portfolio Manager · 4 marks13. Overview of Alternative Investment Funds (AIFs) · 5 marks14. Introduction to Modern Portfolio Theory · 3 marks15. Portfolio Construction Process · 7 marks16. Portfolio Performance Measurement and Evaluation · 10 marks17. Operational Aspects of Investment Management · 13 marks18. Key Regulations · 10 marks19. Ethical Issues · 3 marks20. Grievance Redress Mechanism · 4 marks

NISM Series X-B — Investment Adviser (Level 2) Certification Examination

90 MCQs + 6 case studies · 150 marks · 3 hours · 60% to pass · −25% of a question's marks per wrong answer20 chapters36 case studies
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Chapter notes & sample questions

1. Basics of Insurance · 11 marks2. Life Insurance Products · 9 marks3. Non-Life Insurance Products · 5 marks4. Retirement Planning Basics · 5 marks5. Retirement Products · 19 marks6. Miscellaneous Aspects of Retirement Planning · 6 marks7. Concepts in Taxation · 4 marks8. Capital Gains · 2 marks9. Income from Other Sources · 1 marks10. Taxation of Debt Products · 2 marks11. Taxation of Equity Products · 4 marks12. Taxation of Other Products · 4 marks13. Tax Provisions for Special Cases · 3 marks14. Basics of Estate Planning · 5 marks15. Tools for Estate Planning · 15 marks16. Basics of Behavioural Finance · 7 marks17. Behavioural Finance in Practice · 3 marks18. Risk Profiling for Investors · 12 marks19. Comparison of Products across Categories · 20 marks20. Case Studies · 13 marks

After you pass

Passing NISM is step one. Here is how to get your ARN and start distributing — and once you are an MFD, every calculator, proposal and client tool on Aumsetu is free, with your own branding. Set a renewal reminder so the certificate never lapses.

Aumsetu — free tools for Mutual Fund Distributors. This study material is an independent, unofficial aid prepared from the publicly available NISM workbook syllabus; it is not affiliated with, endorsed by, or a product of NISM or SEBI. Verify exam rules, fees and dates on the official NISM website before you register. Nothing here is investment advice.