Free NISM V-A Exam Prep

Financial goals, savings and investment, major asset classes, investment risks, behavioural biases, risk profiling, asset allocation, and the choice between self-directed investing and professional help.

What a mutual fund is, roles of investors and the industry, fund types, open- and close-ended schemes, units, NAV, and advantages and limitations of mutual fund investing.

Three-tier structure of sponsor, trustee, and AMC, plus custodian, RTA, auditors, fund accountants, distributors, and the role of SEBI and AMFI.

SEBI (Mutual Funds) Regulations 1996, AMFI code of conduct, investor protection, KYC, AML/PMLA, SCORES grievance redressal, and regulatory roles.

SID, SAI, KIM, addenda, mandatory document updates, and required disclosures such as NAV, expense ratio, portfolio, financial results, and annual reports.

Types of distributors, ARN and EUIN, modes of distribution, trail commission, commission disclosure, due diligence by AMCs, and nomination of distributors.

Fair valuation, net assets and NAV, mark-to-market valuation, total expense ratio, loads, distributable reserves, accounting requirements, and segregated portfolios.

Tax treatment of schemes and investors, capital gains, distributions, stamp duty, set-off of gains and losses, STT, Section 80C, TDS, and GST.

NFOs, plans and options, allotment, statements, applications, purchases and redemptions, KYC, systematic transactions, nomination, transmission, and transaction turnaround times.

General and specific risks, performance drivers across asset classes, simple and annualized return, CAGR, and SEBI norms for representing returns.

Benchmarks, Price Return and Total Return indices, tracking error, standard deviation, beta, Sharpe and Treynor ratios, fund-manager performance, and performance disclosures.

Matching schemes to investor goals and risk profiles; evaluating categories, portfolios, risk, return, liquidity, tax, expense ratios, and selecting equity, debt, hybrid, and other schemes.