Sample Questions

NISM-Series-19C: Alternative Investment Fund Managers 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 Infrastructure Funds primarily invest in:

A. Listed equities for short-term gains
B. Unlisted securities, partnership interests, listed debt, or securitised debt instruments of entities engaged in infrastructure projects Correct Answer
C. Early-stage technology start-ups
D. Distressed assets of manufacturing companies

Explanation:

Infrastructure funds are specifically defined by their focus on investments related to infrastructure projects.

Marks: 1

Q2 The Manager of a Category I or II AIF shall be responsible for:

A. Investor reporting only.
B. Only investment decisions.
C. Regulatory filings only.
D. Every decision of the AIF. Correct Answer

Explanation:

The manager holds ultimate responsibility for all decisions made by the AIF.

Marks: 1

Q3 Category I and II AIF schemes shall have a minimum tenure of ______ years. (NISM workbook)

A. three to five
B. five
C. seven
D. three Correct Answer

Explanation:

Category I and II AIFs are close ended, and the tenure of the fund/scheme shall be determined at application, subject to a minimum tenure of three years.

Marks: 1

Q4 Sponsor commitment in the context of an AIF means the extent to which the sponsor commits to running its operations according to established business practices. State whether True or False. (NISM workbook)

A. False Correct Answer
B. True

Explanation:

Sponsor commitment refers to the mandatory investment made by the sponsor in the AIF itself, putting capital at risk alongside investors.

Marks: 1

Q5 Which type of AIF is classified under Category I AIF for the objective of developing the corporate bond market and acting as a backstop facility?

A. Private Equity Fund
B. Venture Capital Fund
C. Hedge Fund
D. Corporate Debt Market Development Fund (CDMDF) Correct Answer

Explanation:

The Corporate Debt Market Development Fund (CDMDF) is classified under Category I AIF due to its broader economic objective.

Marks: 1

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Sample Questions

Q1 Infrastructure Funds primarily invest in:

Q2 The Manager of a Category I or II AIF shall be responsible for:

Q3 Category I and II AIF schemes shall have a minimum tenure of ______ years. (NISM workbook)

Q4 Sponsor commitment in the context of an AIF means the extent to which the sponsor commits to running its operations according to established business practices. State whether True or False. (NISM workbook)

Q5 Which type of AIF is classified under Category I AIF for the objective of developing the corporate bond market and acting as a backstop facility?

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