All About NISM Certification Exam

To Become a Mutual Fund Distributor in India, one must clear the NISM-Series-V-A: Mutual Fund Distributors Certification Examination conducted by the National Institute of Securities Markets (NISM).

The certification is essential for anyone intending to sell mutual funds legally since it measures the understanding required by Mutual Fund Distributors to offer good financial advice to clients. The goal of the certification is to improve the industry’s distribution, sales quality, and related support services.

We will help you with the knowledge of the NISM Certification exam—eligibility, registration, and various details of the syllabus, exam pattern, etc. So, let us understand how you can certify with the NISM Mutual Fund Distributor exam, having all the right qualifications.

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  • To Become a registered Mutual Fund Distributor of India, you must pass the NISM certification exam designed by the National Institute of Securities Markets (NISM).
  • This certification is a must for every individual who is eagerly waiting to distribute mutual fund products legally in India.
  • The NISM certification confirms that you have expertise in mutual fund schemes, regulation, and client servicing with ethical and effective advisory.
  • The NISM Mutual Fund Distributor exam is created to enhance the quality of sales, servicing, and investor protection in the mutual fund business.
  • Eligibility, syllabus, registration, and pattern are explained to the candidates by the NISM Mutual Fund Distributor exam preparation.
  • Successful passing of this exam will make you SEBI compliant and eligible to apply for an ARN (AMFI Registration Number).

Key Additions Include Modules On:

  • Investor risk profiling and suitability assessment, including client behavior patterns.
  • SEBI’s SCORES platform for investor grievance redressal is crucial for maintaining compliance.
  • Updated sections on mutual fund taxation and asset allocation norms.
  • The NISM certification exam now includes case-based questions to assess the real-world application of ethical distribution, investor suitability, and regulatory obligations.
  • SEBI’s revised circulars on commission disclosure and transparent selling practices are also included in the NISM certification syllabus, making ethics a critical focus area.
  • Candidates are encouraged to refer to the updated syllabus to align with current market practices and SEBI regulations before attempting the NISM Mutual Fund Distributor exam

Key Highlights

  • 1 . Eligibility Requirements for NISM Certification Exam
  • 2 . Examination Modes for NISM Exam
  • 3. Fee Structure for NISM Certification
  • 4 . Validity Period of NISM Certificate
  • 5 . Exam Format for NISM Certification
  • 6 . Module Name for NISM Series VA
  • 7 . Enrollment Process for NISM Examinations
  • 8 . Syllabus for NISM Certification Exams
  • 9 . Study Resources for NISM Examinations
  • 10 . Common Queries about NISM Certification
  • 11. Becoming a Certified Mutual Fund Distributor

    12. NISM Exam Syllabus

NISM Exam Eligibility:

As per The National Institute of Securities Market (NISM) guidelines:

  • Individuals aged 18 years and above are eligible to take the NISM Certification Exam and pursue a career as a Mutual Fund Distributor or advisor.
  • The Association of Mutual Fund (AMFI) website does not specify any educational qualifications for participation.

Mode to Appear in the NISM Mutual Fund Distributor Exam:

According to information provided on the Association of Mutual Fund (AMFI) website regarding NISM details:

Candidates have the option to take the examination in either Hindi or English language. The mode of the NISM Certification Exam for becoming a Mutual Fund Distributor is Offline for the Hindi language, whereas for English, candidates have the choice of both Online and Offline modes

How Much NISM Exam Fee to be submitted?

During the registration process for the NISM Mutual Fund Distributor exam, individuals are required to submit an examination fee of Rs.1,500/-. Payment can be made online through Credit Card/Debit Card or net banking.

What is the Validity for a NISM Certificate?

As per the NISM details available at Association of Mutual Fund (AMFI) website, the certificate will be valid for around 3 years.

NISM Exam Pattern:

  • The examination consists of 100 questions, each valued at 1 mark, totaling a maximum score of 100 marks.
  • To pass the examination, candidates must achieve a minimum score of 50%.
  • There is no negative marking system in place for incorrect answers.


Note: Passing certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.

Name of Module: NISM-Series-V-A: Mutual Fund Distributors Certification Examination

Fees (Rs.)Test Duration (in minutes)No. of QuestionsMaximum MarksPass Marks (%)Certificate Validity (in years)
1500+120 min100100503

How to Enroll for the NISM Certification Exam?

To register for the NISM certification exam, kindly go through the given updated steps:

Go to the official NISM Certification Portal and choose the option of ‘New Account’ to begin the registration process.

  • Enter your profile details and upload scanned copies of your latest passport-size photo, Aadhaar Card, and PAN Card in JPG format.
  • Your profile will be validated by NISM, and the approval typically takes 3 working days.
  • After approval, log in and choose the NISM Mutual Fund Distributor exam (Series V-A). Choose your city preference, time slot, and mode of exam.

You may choose:

  • Offline mode: English and Hindi.
  • Online (Remote Proctored mode): English only, preferably for those appearing from home. A webcam computer is needed.
  • Pay ₹1,500 exam fee through debit/credit card, UPI, or net banking.
  • Download the December 2024 edition of the NISM certification official workbook. This edition includes the latest SEBI updates like investor risk profiling, ethics, SCORES grievance redressal system, and commission disclosure norms.
  • Utilize this workbook and online mock tests to get adequately prepared for the Mutual Fund Distributor exam.
  • After clearing the NISM certification exam, get your AMFI Registration Number (ARN) registered, which is a mandatory step for becoming a certified Mutual Fund Distributor.

Tip: Schedule the exam well in advance, at least 3 weeks, to prepare with recent material.

अक्सर पूछे जाने वाले प्रश्न (एफएक्यू):

 

1. What are the Regulations Regarding the Use of Electrical Items Such as Calculators in the NISM Examination?

The use of calculators or any other electronic devices in the NISM examination hall is strictly prohibited.

2. Is There a Refund Policy if a Candidate Fails the NISM Examination?

No, there is no refund procedure for exam fees in case of candidate failure. However, if the exam is cancelled by NISM, a refund will be issued.

3. What are the Payment Methods for NISM Certification Fees for Mutual Fund Distributors?

 NISM certification course fee can be conveniently paid online using a debit card or net banking. Alternatively, payment can also be made offline through demand drafts.

4. Can the NISM Exam be Taken in Hindi?

 Yes, candidates have the option to take the examination in Hindi. However, for Hindi medium, the exam is conducted offline only.

5. What is the Significance of the NISM Certificate?

 The NISM certificate course is vital for Mutual Fund Distributors to achieve the NISM certificate and obtain the ARN number.

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