NISM Series V-A Mutual Fund Distributors (MFD / ARN / AMFI)— Mock Tests & Exam Prep
NISM Series V-A (Mutual Fund Distributors) is a SEBI-recognised certification exam in mutual funds. The exam has 100 marks over 120 minutes, needs 50/100 to pass (negative marking of 0.25), and stays valid for 3 years.
Essential certification for selling and marketing mutual funds in India
scheduleLimited-time price, ends 15 August, Independence Day
- check_circle1500+ exam-pattern questions
- check_circleFull-length mocks in the real 100-mark format
- check_circleWorked solution on every question
- How we compare to coaching, books & other apps
Total Marks
Duration
Pass Mark
Your Readiness
Series V-A · NISM
About This Certification
NISM Series V-A Mutual Fund Distributors Certification establishes the minimum knowledge benchmark for persons engaged in marketing and selling mutual funds. Mandatory for all mutual fund distributors registered with AMFI.
Quick Facts
- RegulatorSEBI
- Conducted byNISM
- Validity3 Years
- Negative Marking0.25%
- Fee₹1500 + GST
What You Get
1500+ Questions
Exam-pattern practice with full-length timed mocks and negative marking.
AI Smart Notes
Concise chapter summaries generated from the NISM workbook.
400+ Flashcards
Spaced-repetition for key formulas and definitions.
Doubt Forum
Get answers from mentors and past exam-takers.
Which of the following correctly calculates Net Asset Value?
Click an option to check your answer — no login required.
3 Steps to Pass Series V-A
Diagnostic Quiz
15 questions to baseline your current knowledge across all topics.
Personalized Plan
A day-by-day path built around your weak topics — not a generic schedule.
Mock & Improve
Sit full mocks and watch your Readiness Score climb in real time.
Know exactly when you're ready.
Our AI tracks your mock scores, topic mastery, and study consistency to predict your Series V-A pass probability in real time.
Concepts 92%
Regs 54%
Exam Syllabus & Topic Weightage
savings01. Investment Landscape
Overview of investment products — FDs, bonds, equity, mutual funds. Role of MFs in personal financial planning.
~15% weightage
storefront02. Concept and Role of a Mutual Fund
Structure of mutual funds, AMC, trustee, custodian, RTA. Open-ended vs closed-ended vs interval funds.
~20% weightage
gavel03. Fund Distribution and Channel Management
ARN registration, AMFI, KYD norms, distributor vs RIA, commission structure, trail fees, direct vs regular plans.
~20% weightage
receipt_long04. Legal and Regulatory Environment
SEBI MF Regulations 1996, AMFI code of conduct, investor grievance redressal, SCORES platform.
~15% weightage
savings05. Offer Document — Key Information
KIM, SID, SAI reading. NFO process, allotment, refund. NAV calculation and cut-off timings.
~15% weightage
storefront06. Investor Services
KYC, account opening, transactions (purchase, redemption, switch, SIP, SWP, STP), account statements.
~15% weightage
Free Resources
NISM Series V-A Mutual Fund Distributors Mock Tests
Sit free, full-length NISM Series V-A (MFD / ARN / AMFI) mock tests that mirror the real exam — 100 marks over 120 minutes, 0.25 negative marking. Each attempt is auto-scored against the 50% pass mark with instant solutions, so you know exactly when you are ready.
NISM Series V-AStudy Material & Notes
Chapter-wise Mutual Fund Distributors study material and revision notes built from the official SEBI syllabus, with 1500+ practice questions and previous-year style MCQs to lock in every high-weightage topic.
NISM Series V-A Syllabus 2025-26
- Investment Landscape15%
- Concept and Role of a Mutual Fund20%
- Fund Distribution and Channel Management20%
- Legal and Regulatory Environment15%
- Offer Document — Key Information15%
- Investor Services15%
Frequently Asked Questions
What is the passing score for NISM Series V-A?
The passing score for NISM Series V-A is 50 out of 100 marks (50%) — lower than most other NISM exams.
Who needs NISM Series V-A?
All individual mutual fund distributors who hold an ARN (AMFI Registration Number) must pass NISM Series V-A or Series V-C (CPE).
How long is NISM Series V-A valid?
Valid for 3 years. Renewal requires either passing the exam again or completing 10 CPE credit hours.
What is the exam fee?
₹1,500 plus applicable GST.
How we prepare you for Mutual Fund Distributors
Series V-A has no negative marking, which means an unanswered question is simply a mark you gave away. Here is the machinery underneath the claim — six things the product does, in the order you'll meet them.
A diagnostic, before a single lesson
Fifteen questions map what you already know against the syllabus.
Most people waste their first fortnight re-reading chapters they'd already pass. The diagnostic exists so your plan starts at the gaps, not at page one.
Chapters broken into five-minute cards
The syllabus is re-cut into sessions that fit a commute, not an evening.
A 600-page workbook asks you to find an hour you don't have. Bite-sized cards ask for the ten minutes you already lose to a queue - which is why the habit survives past week two.
Practice that follows your mistakes
The engine weights questions toward the topics you keep getting wrong.
A static question bank serves everyone the same 1,200 questions in the same order. Adaptive weighting means your revision time lands where it actually moves the score.
A worked solution on every question
Not just the right option - the reasoning, and the trap you fell for.
Knowing you picked C and the answer was B teaches you nothing. Every question carries the working, so a wrong answer is the most useful thing that happens in a session.
Mocks that make an empty answer feel expensive
120 minutes, 100 marks, and no negative marking whatsoever.
Because a wrong answer costs you nothing on Series V-A, the only unforgivable thing is a blank. Our mocks flag every question you left empty and every one you burned three minutes on, which is where the 50% pass mark is usually lost.
One number: your Preparedness Score
Whether you'd pass today - and which chapters are holding it down.
Every other method leaves you guessing at the only question that matters before you pay the exam fee. The score is the answer, and it moves as you do.
Why people leave the alternatives
You have four other options, and each one genuinely beats us at something. Here is the whole picture - including the rows where they win.
| Dimension | PrepCleverSeries V-A | Coaching centreClassroom batch | YouTube & PDFsFree material | Other prep appsTypical case | BooksSelf-study |
|---|---|---|---|---|---|
| What it costs to start | Free forever core - no card | ₹30,000–50,000 upfront | Free | Freemium; the real bank is paywalled | ₹500–1,500 per workbook |
| When you can study | Five-minute sessions, any time | Fixed batch timings, fixed venue | Any time | Any time | Any time |
| Does it know your weak areas? | Adaptive - weights toward what you miss | One pace for the whole batch | Nothing is tracked | Usually a static bank in fixed order | Nothing is tracked |
| Why was my answer wrong? | Worked solution on every question | Strong - if you can get the teacher's time | The comments section | Often an answer key only | Answer key at the back |
| Does it catch marks you left on the table? | Flags every blank — V-A never penalises a wrong answer | Depends on whether anyone reviews your paper | Nothing is reviewed | Reports a score, not the blanks behind it | You mark your own paper |
| Am I ready to book the exam? | Preparedness Score, updated per session | A mock rank, and instinct | No signal at all | Your raw score on the last test | No signal at all |
| Is the syllabus current? | Tracked against SEBI workbook updates | Depends entirely on the centre | Often years out of date | Varies; rarely dated on the page | Whatever the last reprint said |
| How many NISM series? | All 26 | The one or two that fill a batch | Patchy - the popular ones | Usually the popular ones | One book per series |
Rival columns describe the typical case, not every provider. A good coaching teacher will out-explain any app on the day you can actually reach them.
Rather judge it yourself? Take a free mock quiz or read a worked solution before you decide.
Ready to pass Series V-A?
Start your personalized prep today — 1500+ practice questions, free to start.
scheduleLimited-time price, ends 15 August, Independence Day