NISM-Series-5D: Mutual Fund - Specialized Investment Fund (SIF) Distributors

The NISM-Series-V-D: Mutual Fund - Specialized Investment Fund Distributors Certification Examination is designed to establish a common minimum knowledge benchmark for professionals involved in the distribution of specialized mutual fund products.

Examination Objectives:

The core objective of this certification is to enhance the quality of sales, distribution, and support services within the specialized mutual fund industry. Candidates are expected to master the following upon successful completion:

• Basics of Mutual Funds: Comprehensive knowledge of the role, structure, and features of different mutual fund schemes.
• Distribution and Evaluation: Proficiency in how mutual funds are distributed in the marketplace and the ability to evaluate schemes to recommend suitable products to prospective investors.
• Equity Derivatives: Understanding the basics of the Indian equity derivatives market and the trading strategies associated with futures and options for stocks and indices.
• Interest Rate Derivatives: Knowledge of fixed income securities and the analytical framework for interest rate futures and options traded on Indian exchanges.
• Strategic Application: The ability to implement various hedging, trading, and arbitrage strategies using interest rate derivatives.

Assessment Structure in Detail:

The examination is rigorous and requires a deep understanding of both mutual funds and derivative markets:

• Number of Questions: The test consists of 150 questions.
• Maximum Marks: Each question is worth 1 mark, totaling 150 marks.
• Duration: Candidates are given 3 hours (180 minutes) to finish the exam.
• Passing Score: The passing threshold is 60 percent, requiring a minimum of 90 marks.
• Negative Marking: There is a negative marking of 10 percent (0.10 marks) for every wrong answer.
• Technical Proficiency: Candidates are advised to be proficient in Microsoft Excel or LibreOffice, as test workstations are equipped with these for numerical computations.

Examination Syllabus and Weightage Index:

The following table outlines the chapter-wise weightage for the 22 chapters included in the curriculum.

This weighted distribution ensures that the exam focuses heavily on investor services, scheme selection, and derivative strategies, which are critical for specialized distributors.

The combination of three subjects which is:

1.NISM series 5A Mutual fund Distributor.
2.NISM series 8 Equity derivatives.
3.NISM series 4 Interest rate derivatives.