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 Who settles the capital market transactions of a mutual fund?

  • A. RTA
  • B. AMC
  • C. Custodian Correct Answer
  • D. Depository
Explanation:
Custodians handle settlement and safekeeping of securities.

Marks: 1

Q2 What is a "Power of Attorney" (PoA)?

  • A. A bill for electricity.
  • B. A certificate for a government official.
  • C. A legal document that lets you authorize another person to sign or trade on your behalf. Correct Answer
  • D. A very powerful lawyer.
Explanation:
Many old people or NRIs use a PoA to let their children or trusted friends manage their investments.

Marks: 1

Q3 What are the primary duties of a mutual fund Sponsor?

  • A. Setting up the Trust
  • B. Appointing the Custodians
  • C. Setting up the AMC
  • D. All of the above Correct Answer
Explanation:
The Sponsor is the promoter who starts the mutual fund and is responsible for setting up all the necessary legal bodies.

Marks: 1

Q4 What are "Institutional Investors"?

  • A. Small shopkeepers
  • B. Large organizations like mutual funds, banks, and insurance companies Correct Answer
  • C. School and college students
  • D. People who live in institutions
Explanation:
These are professional entities that invest huge sums of money on behalf of many small clients or for themselves.

Marks: 1

Q5 When a company distributes free shares to existing shareholders without additional payment, it is called:

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

Marks: 1

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