Recognized and accepted by leading institutions
Exams are booked through authorized testing partners across 75+ Indian cities.
The gap
Reading the syllabus is not the same as preparing for the exam
NISM Series V-D asks you to develop knowledge across several inter-related fields at once — mutual funds, Specialized Investment Funds, equity derivatives and interest rate derivatives. Candidates rarely fail because the material is beyond them. They fail because of how it is approached.
A broad syllabus across multiple concepts
Three distinct knowledge areas in one paper, each with its own vocabulary and its own logic. Covering them one by one leaves no time to see how they connect.
Theory that doesn't survive contact with the question
The concepts are understood, but application-based questions in the exam are framed differently from the way the workbook explains them.
Too little practice on calculations and strategies
Derivatives and strategy questions carry real calculation weight. Reading them through once is not preparation for solving them under time pressure.
No structured plan across modules
Without a sequence, most candidates over-prepare the familiar module and arrive at derivatives with too little time left.
Accuracy, timing and negative marking
150 questions in 180 minutes with 10% negative marking makes guessing expensive. Knowing when not to attempt is a skill in itself.
This training programme offers a systematic preparation pattern — covering the important concepts, linking concepts from one module to the next, giving you exam-oriented practice, and sharpening how you approach the paper itself.
What is the NISM Series V-D certification exam?
NISM-Series-V-D: Mutual Fund – Specialized Investment Fund Distributors Certification Examination was launched by NISM with effect from 22 July 2026. It seeks to create a common minimum knowledge benchmark for everyone involved in selling and distributing mutual fund and Specialized Investment Fund products. The examination covers ground that was previously spread across separate certifications. Alongside the structure and distribution of mutual funds, it tests the basics of the Indian equity derivatives market, the trading strategies built using futures and options on stocks and indices, fixed-income securities, and the analytical framework behind interest rate futures and options traded on Indian exchanges.
Who the examination is intended for
Individual mutual fund and SIF distributors; employees of organisations engaged in the sale and distribution of mutual fund and SIF products; and employees of asset management companies, particularly those engaged in sales and distribution.
What our training does
Covers the concepts required by the official NISM syllabus and shows how each applies in exam-type questions — taking you from core mutual fund and distribution concepts through to Specialized Investment Funds, equity derivatives, fixed-income securities and interest rate derivatives.
Who should take the NISM Series V-D certification?
Mutual fund distributors
Existing MFDs extending their practice into Specialized Investment Funds as the category opens up.
AMC sales & distribution teams
Employees engaged in the sale and distribution of mutual fund and SIF products who need the certification for their role.
Distribution house employees
Staff at organisations engaged in selling and distributing mutual fund and SIF products.
RIAs and advisory professionals
Advisers who want to understand SIFs and derivatives properly before recommending them.
Banking and wealth relationship teams
Professionals whose product conversations now include a category their existing certification doesn't cover.
Finance students and new entrants
Those entering distribution who want a structured route through a demanding first certification.
Mutual Fund Distributor SIF Distributor AMC Sales Manager Relationship Manager Investment Adviser Wealth Manager Distribution Channel Partner
Trusted by Leading Employers
Our certifications open doors to top companies across the finance industry.
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A systematic route through the NISM V-D syllabus
Build
a structured understanding of mutual funds, Specialized Investment Funds,
equity derivatives and interest rate derivatives while preparing systematically
for the NISM Series V-D certification examination.
The
training assists you with the concepts required by the official syllabus and
shows how they can be applied effectively in solving exam-type questions. It
takes you from core mutual fund and distribution concepts through to more
advanced areas — Specialized Investment Funds, equity derivatives, fixed-income
securities and interest rate derivatives — and covers the structure of mutual
funds and their distribution, services provided to investors, tax aspects, risk
and performance analysis, scheme selection, futures and options, and hedging,
trading and arbitrage strategies.
Carefully
designed learning material, concept explanations, exam-relevant examples and
practice questions guide you through the volume of the Series V-D syllabus in a
manageable way.
Why structured preparation makes all the difference
Just reading the syllabus is insufficient to prepare for the NISM Series V-D exam. Candidates are required to develop knowledge in various inter-related fields like Mutual funds, Specialized Investment funds, Equity Derivatives and Interest rate Derivatives.
Many candidates may struggle because of:
- A broad syllabus covering multiple financial-market concepts
- Difficulty connecting theoretical concepts with application-based questions
- Limited practice with calculations, derivatives, and strategy-based questions
- Lack of a structured study plan across different modules
- Insufficient focus on accuracy, time management, and negative marking
How we help you succeed:
This is a training program that offers a systematic preparation pattern which covers important concepts, links concepts from one module to another, helps you practice exam-oriented questions and enhances your preparation approach for the NISM Series V-D Certification Examination.
How the training is built
Concepts, then application
Each concept is explained and then immediately shown in the form the examination is likely to ask it — so recognition, not recall, becomes the habit.
Modules linked, not isolated
Where the syllabus repeats a theme across modules — risk, return, valuation — the training makes the link explicit instead of teaching it three times.
Calculation practice built in
Derivatives, fixed income and performance questions carry calculation weight. The practice set is weighted accordingly.
Exam technique
Sequencing the paper, managing 150 questions across 180 minutes, and deciding when a 10% negative mark makes an attempt not worth taking.
No uncertainty after payment
No uncertainty after payment
Enroll in the training
Pay securely. Your learning access is activated within 24 hours.
Work through the modules
Mutual funds and SIFs first, then equity derivatives, then interest rate derivatives — in that sequence, for a reason.
Practise exam-type questions
Application-based and calculation questions in the format the paper uses.
Register with NISM
Book your examination directly on the NISM certification portal and pay the NISM examination fee.
Sit the examination
A computer-based test at an NISM examination centre — 150 questions in 180 minutes.
Receive your certificate
Issued by NISM on passing, valid for three years. Your PAN must be updated in your NISM registration details for the certificate to be issued.
Faculty
◆Learn from practitioners, not presenters
Dr. Deepak Jain
Director & Co-founder, AAFM® India
25+ years in wealth management and estate planning. Author of 26 books on finance; has led AAFM India to train 45,000+ individuals including 30,000+ wealth managers.
Saurabh Jain
Faculty, AAFM® India
CA, CS, CFA, FRM, CFP (US), CWM®, CTEP, CISI (UK), CCRA, CIRA, AIM
A multi-credentialed finance professional bringing deep expertise across accounting, risk, wealth management and estate planning.
Himanshu Patodi
VP – HSBC Bank
CWM, CTEP, IIM-Mumbai
A transformational leader with 2 decades of experience in global premier banking, designing wealth strategies that bridge borders, insights and legacies.
Certificate Training in Mutual Fund-Specialized Investment Fund Distributors
Certificate Training in Mutual Fund-Specialized Investment Fund Distributors 71 Lessons 23:52:42
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Investment Landscape Part- 1
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Investment Landscape - Part 2
00:22:52
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Concept and Role of a Mutual Fund- Part 1
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Concept & Role of Mutual Funds Part 2
00:34:34
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Legal Structure of Mutual Funds in India- Part 1
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Legal Structure of Mutual funds in India - Part 2
00:17:15
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Legal & Regulatory Framework- Part 1
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Legal & Regulatory Framework - Part 2
00:16:54
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Scheme Related Information- Part 1
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Scheme Related information - Part 2
00:11:19
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Fund-Distribution-and-Channel-Management-Practices
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Fund Distribution & Channel Management Practices - Part 2
00:21:12
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Net-Asset-Value-Total-Expense-Ratio-and-Pricing-of-Units
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Taxation
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Investor Services- Part 1
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Investor Services - Part 2
00:20:26
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Investor Services - Part 3
00:17:54
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Investor Services - Part 4
00:19:30
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Investor Services - Part 5
00:19:27
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Investor Services - Part 6
00:23:35
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Risk, Return-and-Performance of Funds- Part 1
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Risk, Return and performance of Funds - Part 2
00:27:10
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Risk, Return and performance of Funds - Part 3
00:21:07
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Risk, Return and performance of Funds - Part 4
00:26:31
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Mutual Fund Scheme Performance- Part 1
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Mutual Funds Scheme Performance - Part 2
00:15:31
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Mutual-Fund-Scheme-Selection
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Mutual Funds Scheme Selection - Part 2
00:29:12
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Basics of Derivatives Part 1
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Basics of Derivatives Part 2
00:43:14
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Understanding the Index- Part 1
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Understanding the Index- Part 2
00:32:22
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Introduction to Forwards and Futures Part 1
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Introduction to Forwards and Futures Part 2
00:39:59
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Introduction to Options Part 1
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Introduction to Options- Part 2
00:48:47
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Strategies using Equity Futures and Equity Options Part 1
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Strategies using Equity Futures and Equity Options Part 2
00:33:29
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Introduction to Interest rate instruments and Fixed Income Markets Part 1
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Introduction to Interest rate instruments and Fixed Income Markets Part 2
00:51:41
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Interest Rate Derivatives Part 2
01:03:23
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Interest Rate Derivatives Part 3
01:01:10
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Interest Rate Derivatives Part 1
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Exchange traded interest rate futures Part 2
00:40:16
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Exchange traded interest rate futures Part 3
00:46:28
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Exchange traded interest rate futures Part 4
00:35:39
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Exchange traded interest rate futures Part 1
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Exchange-Traded-Interest-Rate-Options
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Strategies-Using-Exchange-Traded-Interest-Rate-Derivatives
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Our alumni work at India's leading wealth institutions
CWM® charterholders serve in private banking, wealth advisory, financial planning, and portfolio roles across these organizations — part of a 300,000+ global alumni network.
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Fees, exams & eligibility — answered
Everything you'd normally ask a counselor, answered here.
Fees and enrollment
Exams and eligibility
◆
Global community
◆ AAFM®-certified professionals practise in the world’s major financial centres
Not sure whether V-A or V-D is the right exam for you?
The right certification depends on what you distribute and what your organisation requires. A career expert can work through it with you in ten minutes.
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◆Choose your Study Mode
Two ways to earn the CWM® charter. Both include your student registration fee and 12-month LMS access, both lead to the same charter, and exam fees are separate.
- Structured coverage of all three modules
- Concept explanations with exam-relevant examples
- Practice questions in the examination format
- Calculation practice on derivatives and fixed income
- Guidance on sequencing, timing and negative marking
- Access on mobile and desktop
- Dedicated learning support
Prepare properly for a paper that rewards it.
150 questions, three knowledge areas, 60% to pass and negative marking on every wrong answer. Everything you need to decide is on this page — the syllabus coverage, the exam format and the fee structure.
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