NISM Series V-A Syllabus: Mutual Fund Distributors
All 6 chapters of the Mutual Fund Distributors workbook, with the weightage each carries in the exam.
The NISM Series V-A workbook is six chapters long, and the exam draws from all six. What varies is how much each one is worth: two chapters carry 20% of the paper each, and the remaining four carry 15% each. That spread is the single most useful thing on this page, because it tells you where revision time actually pays.
This page lists what each chapter covers. It does not cover marks, timing or the pass mark (that is the exam pattern page), and it does not tell you what order to study in, which is the preparation page's job.
All 6 chapters and their weightage
Weightage is the share of the 100-mark paper each chapter contributes. Chapters 2 and 3 together are 40% of the exam: distribution and fund structure, not investment theory.
01
Chapter
Investment Landscape
Weightage
15%
02
Chapter
Concept and Role of a Mutual Fund
Weightage
20%
03
Chapter
Fund Distribution and Channel Management
Weightage
20%
04
Chapter
Legal and Regulatory Environment
Weightage
15%
05
Chapter
Offer Document: Key Information
Weightage
15%
06
Chapter
Investor Services
Weightage
15%
| # | Chapter | Weightage |
|---|---|---|
| 01 | Investment Landscape | 15% |
| 02 | Concept and Role of a Mutual Fund | 20% |
| 03 | Fund Distribution and Channel Management | 20% |
| 04 | Legal and Regulatory Environment | 15% |
| 05 | Offer Document: Key Information | 15% |
| 06 | Investor Services | 15% |
What each chapter covers
The workbook's own scope, chapter by chapter:
- 01. Investment Landscape (15%)
- Overview of investment products (fixed deposits, bonds, equity, mutual funds) and the role mutual funds play in personal financial planning. Context-setting rather than technical.
- 02. Concept and Role of a Mutual Fund (20%)
- The structure of a mutual fund and who does what: AMC, trustee, custodian and RTA. Open-ended versus closed-ended versus interval funds.
- 03. Fund Distribution and Channel Management (20%)
- ARN registration, AMFI, KYD norms, distributor versus registered investment adviser, commission structure, trail fees, and direct versus regular plans. This is the chapter about your own job.
- 04. Legal and Regulatory Environment (15%)
- SEBI (Mutual Funds) Regulations 1996, the AMFI code of conduct, investor grievance redressal, and the SCORES platform.
- 05. Offer Document: Key Information (15%)
- Reading the KIM, SID and SAI. The NFO process, allotment and refund. NAV calculation and cut-off timings.
- 06. Investor Services (15%)
- KYC and account opening, transaction types (purchase, redemption, switch, SIP, SWP, STP), and account statements.
Free account, this exam preselected.
Where the marks concentrate
Chapters 2 and 3 are 40% of the paper between them, and both are descriptive rather than numerical: fund structure, roles, distribution rules and commission mechanics. Chapters 5 and 6 add another 30% and are largely procedural: cut-off timings, transaction types, document hierarchy. That means roughly 70% of this exam rewards careful reading rather than calculation, which is why it is the most-passed NISM certification.