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FOUNDATION EXAM
NISM SERIES V B – MUTUAL FUND FOUNDATION
CERTIFICATION EXAM - PRACTICE TEST 3
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TEST DETAILS – The NISM Mutual Fund Foundation Module exam is a 50 mark exam with 50% as passing marks.
The question paper will consist of 50 multiple choice questions. There is no negative marking. The time duration is
120 Minutes.
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NISM SERIES V B – MUTUAL FUND FOUNDATION
CERTIFICATION EXAM - PRACTICE TEST 3
Question 2 Investor pays a tax on the dividend that he receives from a mutual fund
scheme at ___________ .
(b) 10%
(c) 15%
(d) 30%
(a) SID
(b) SAI
(c) KIM
(a) Rs 100
(b) Rs 150
(c) Rs 200
(a) Brokerages
(b) NBFCs
(c) Distributors
(d) IFAs
(a) 25%
(b) 33%
(c) 45%
(d) 50%
(a) Approves
(c) Vets
(d) Registers
Question 9 Year-wise cash flows going several years into future is a feature of
comprehensive financial plan - State True or False ?
(a) TRUE
(b) FALSE
Question 10 Investor buying a unit from the scheme is called a _____ transaction.
(a) Sale
(b) Re-purchase
(c) Redemption
Question 11 A greater portion of returns from equity asset class is generally through
_____ .
(a) Inflation
(a) Individuals
(c) HUF
(a) 10
(b) 15
(c) 30
(d) 45
Correct Answer 14 30
NISM SERIES V B – MUTUAL FUND FOUNDATION
CERTIFICATION EXAM - PRACTICE TEST 3
Question 16 Debt oriented schemes need to disclose their portfolio in their website
every month, by the ____ working day of the succeeding ________ .
Question 17 Day to day operations of the mutual fund are handled by _______ .
(b) AMC
(d) RTA
(a) Distributor
Question 20 Which of the below are not shown in the Consolidated Account
Statement (CAS) of Mutual Funds ?
Question 21 What is the applicable NAV for Equity schemes where redemption
request are received after 3 pm?
(c) Closing NAV of the day immediately preceding the next business day
Question 22 Can an investor apply in Mutual Fund NFO's through ASBA method ?
(a) Yes
(b) No
Question 23 The KYD process is not applicable for existing distributors seeking to
renew their ARN - State True or False ?
(a) TRUE
(b) FALSE
Question 24 Which of the following entities are involved in distributing mutual funds
in India ?
(b) IFAs
(c) Post-offices
Question 25 As per current regulations, all Mutual Fund schemes launched in a NFO
should have a face value of Rs 10 - State True or False ?
(a) TRUE
(b) FALSE
NISM
NCFM
BSE