Mutual Fund – Specialized Investment Fund Distributors — mock test
Launched 22 July 2026 — one certificate to distribute both mutual funds and Specialized Investment Funds (SIFs).
Free · no sign-up · 3 hours for the full paper · 383 original questions in the bank
The exam at a glance
The mock is set to the same pattern.
Questions
150
150 marks
Duration
3 hours
Pass mark
90 / 150
60%
Negative marking
10%
of the question’s marks, per wrong answer
Certificate validity
3 years
Exam fee
₹3,000 + taxes
Charged by NISM
Syllabus and chapter weightage
Marks per chapter as published by NISM. The mock paper draws exactly this many marks from each chapter.
Mutual Fund Distributors
68 marks · 45%
- 01Investment Landscape5marks
- 02Concept & Role of a Mutual Fund4marks
- 03Legal Structure of Mutual Funds in India3marks
- 04Legal and Regulatory Framework7marks
- 05Scheme Related Information7marks
- 06Fund Distribution and Channel Management Practices4marks
- 07Net Asset Value, Total Expense Ratio and Pricing of Units5marks
- 08Taxation3marks
- 09Investor Services10marks
- 10Risk, Return and Performance of Funds5marks
- 11Mutual Fund Scheme Performance5marks
- 12Mutual Fund Scheme Selection10marks
Equity Derivatives
52 marks · 35%
- 13Basics of Derivatives10marks
- 14Understanding Index5marks
- 15Introduction to Forwards and Futures15marks
- 16Introduction to Options13marks
- 17Strategies using Equity Futures and Equity Options9marks
Interest Rate Derivatives
30 marks · 20%
- 18Introduction to Interest Rate, Interest Rate Instruments and Fixed Income Markets6marks
- 19Interest Rate Derivatives2marks
- 20Exchange Traded Interest Rate Futures10marks
- 21Exchange Traded Interest Rate Options6marks
- 22Strategies using Interest Rate Derivatives6marks
Questions candidates ask
What is the pattern of the NISM-Series-V-D exam?
150 multiple-choice questions carrying 150 marks, to be completed in 3 hours.
What is the pass mark for NISM-Series-V-D?
90 marks out of 150 (60%). The certificate is valid for 3 years.
Is there negative marking in NISM-Series-V-D?
Yes — 10% of a question's marks per wrong answer. This mock applies exactly the same deduction, so your score here reflects how the real paper would be marked.
Are these the real NISM exam questions?
No. NISM’s question bank is confidential. Every question here is original, written for practice against NISM’s published syllabus and chapter weightages. Use it to test your understanding — the NISM workbook remains the primary study material.
Do I need to sign up, and is it free?
It is free and there is no sign-up. Your attempts, mistake notebook and progress are stored only in your own browser, on your own device.
Where these exam facts come from
The pattern, pass mark and chapter weightages above were checked against NISM’s own published details on 21 September 2026. NISM can revise an exam at any time — confirm the current rules on the official pages before you register:
- NISM — Specialized Investment Fund Distributors (exam details)
- NISM Annexure I — examination structure and weightages
Independent study aid — not affiliated with, or endorsed by, NISM or SEBI. All questions are original and written for practice; none is taken from NISM’s question bank. A mock score is a guide to your preparation, not a prediction of your exam result.