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NISM Series V-A · Chapter 9: Investor Services

निवेशक सेवाएँ · NISM-Series-V-A: Mutual Fund Distributors Certification Examination

15% weightage · ~15 questions 100 questions · 120 minutes · 50% to pass · no negative marking 81 practice questions in our bank

What this chapter covers

The heaviest chapter: everything that happens between investor and fund — KYC and onboarding, the application form and its fields, payment modes, SIP/STP/SWP, nomination, joint holding, statements and CAS, transactions through exchanges and online platforms, and transmission on death.

KYC, आवेदन, भुगतान के तरीक़े, SIP/STP/SWP, नामांकन, संयुक्त धारक, स्टेटमेंट, ट्रांसमिशन।

What to master before the exam

Exam tip: Fifteen marks. It is wide, not deep — a hundred small facts. The mock's chapter practice for this chapter is the best single hour you can spend before the exam.

Sample questions from this chapter

Five of the 81 questions in our free bank. Open the answer to see the explanation — every question in the mock test has one, in English and Hindi.

Question 1
What term describes the NAV of the scheme after the dividend is paid out (the NAV drops to the extent of the dividend)?
लाभांश भुगतान के बाद योजना की NAV को क्या कहा जाता है (NAV लाभांश की सीमा तक घट जाती है)?
  1. Ex-Dividend NAVएक्स-डिविडेंड NAV
  2. Cum-Dividend NAVकम-डिविडेंड NAV
  3. Lower NAVलोअर NAV
  4. Dividend NAVडिविडेंड NAV
Show answer & explanation
Answer: A — Ex-Dividend NAV
After the dividend (IDCW) is paid, the NAV falls by that amount — this reduced NAV is the ex-dividend NAV.
लाभांश (IDCW) भुगतान के बाद NAV उतनी राशि से घट जाती है — यह घटी हुई NAV एक्स-डिविडेंड NAV है।
Question 2
At what price are bonus units issued to the unitholder?
यूनिटधारक को बोनस यूनिट किस मूल्य पर जारी की जाती हैं?
  1. A price decided by the AMC in consultation with the trusteesAMC द्वारा ट्रस्टियों के परामर्श से तय मूल्य पर
  2. The bonus units are allotted free of costबोनस यूनिट नि:शुल्क आवंटित की जाती हैं
  3. At the prevailing NAVप्रचलित NAV पर
  4. At the prevailing NAV divided by the bonus ratioप्रचलित NAV को बोनस अनुपात से भाग देकर
Show answer & explanation
Answer: B — The bonus units are allotted free of cost
Bonus units are issued free of cost; the NAV adjusts down so total value is unchanged — no new money comes in.
बोनस यूनिट नि:शुल्क जारी होती हैं; NAV नीचे समायोजित हो जाती है ताकि कुल मूल्य अपरिवर्तित रहे — कोई नया पैसा नहीं आता।
Question 3
Whose KYC needs to be completed in case of an application by a minor?
नाबालिग द्वारा आवेदन की स्थिति में किसकी KYC पूरी की जानी चाहिए?
  1. The minorनाबालिग की
  2. The guardianअभिभावक (guardian) की
  3. Any family member of the minorनाबालिग के किसी भी परिवार सदस्य की
  4. No KYC is required for applications by minorsनाबालिग के आवेदनों के लिए कोई KYC आवश्यक नहीं
Show answer & explanation
Answer: B — The guardian
A minor invests through a guardian, so the guardian's KYC is completed.
नाबालिग अभिभावक के माध्यम से निवेश करता है, इसलिए अभिभावक की KYC पूरी की जाती है।
Question 4
How many (maximum) bank accounts can a resident individual investor register with a mutual fund folio?
एक निवासी व्यक्तिगत निवेशक म्यूचुअल फंड फोलियो के साथ अधिकतम कितने बैंक खाते पंजीकृत कर सकता है?
  1. 11
  2. 22
  3. 33
  4. 55
Show answer & explanation
Answer: D — 5
A resident individual can register up to five bank accounts in a folio (non-individuals up to ten).
एक निवासी व्यक्ति फोलियो में अधिकतम पाँच बैंक खाते पंजीकृत कर सकता है (गैर-व्यक्ति अधिकतम दस)।
Question 5
Which of the following is true regarding nominees of mutual fund investors?
म्यूचुअल फंड निवेशकों के नामिती (nominees) के संबंध में निम्न में से क्या सत्य है?
  1. The nominee can be an individual, including minors and NRIsनामिती एक व्यक्ति हो सकता है, जिसमें नाबालिग और NRI शामिल हैं
  2. The nominee can be central/state governments and local authoritiesनामिती केंद्र/राज्य सरकार और स्थानीय प्राधिकरण हो सकते हैं
  3. Both a and ba और b दोनों
  4. Neither a nor bन a न b
Show answer & explanation
Answer: C — Both a and b
A nominee may be an individual (including a minor or NRI) or a government/local authority — both are permitted.
नामिती एक व्यक्ति (नाबालिग या NRI सहित) या सरकार/स्थानीय प्राधिकरण हो सकता है — दोनों अनुमत हैं।
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All V-A chapters

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%
← Chapter 8: Taxation Chapter 10: Risk, Return and Performance of Funds →

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