Sample Questions

NISM-Series-2B: Registrars and Transfer Agents (Mutual Fund) Mock Tests — 5 random MCQs with answers & explanations

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These 5 questions are randomly selected (standard MCQs only, not case-based).

Q1 When a company distributes free shares to existing shareholders without additional payment, it is called:

  • A. Rights issue
  • B. Bonus issue Correct Answer
  • C. Public issue
  • D. Preferential allotment
Explanation:
Bonus shares are issued from company reserves to existing shareholders in proportion to their holdings.

Marks: 1

Q2 The type of expenses that can be charged to a mutual fund scheme is decided by ______.

  • A. AMFI
  • B. Government of India
  • C. SEBI Correct Answer
  • D. RBI
Explanation:
SEBI regulates mutual funds and specifies what expenses can be charged to investors.

Marks: 1

Q3 What happens in an "STP"?

  • A. You stop your investment.
  • B. Money is automatically moved from one scheme to another at regular intervals. Correct Answer
  • C. The company gives you a prize.
  • D. Your shares are sold to the government.
Explanation:
A Systematic Transfer Plan (STP) is often used to move money slowly from a "Safe" debt fund into a "Risky" equity fund to reduce market risk.

Marks: 1

Q4 If a large company changes the people allowed to sign documents, what must they give the RTA?

  • A. A letter from the Manager
  • B. A bank manager's note
  • C. A copy of the relevant board resolution Correct Answer
  • D. A notarized letter
Explanation:
Institutional investors must provide a formal Board Resolution to prove they have officially changed their authorized signatories.

Marks: 1

Q5 The cut-off time for liquid fund redemption is generally ______.

  • A. 1:30 PM
  • B. 2:30 PM
  • C. 3:00 PM Correct Answer
  • D. 4:00 PM
Explanation:
Liquid funds typically have a redemption cut-off time of 3:00 PM.

Marks: 1

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