Explain with Confidence
Describe mutual fund categories, NAV, expenses and transactions in language an investor can understand.
Free practice test
NISM Series V-A: Free Mock Test
Answer 25 exam-style questions, one at a time. At the end, you'll see your score, your strong and weak topics, and the right answers with short explanations.
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FREE
Test your exam readiness
25questions
30 mintime limit
50%to pass (13 of 25)
Nonegative marking
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These practice questions are prepared by AAFM India to help learners practice. They are not NISM's official exam questions. NISM conducts the Series V-A exam and issues the certificate.
Who this is for
Find your starting point
Aspiring Mutual Fund Distributors
Build the foundation you need to understand products, distribution practices and investor service processes.
Sales and Relationship Professionals
Strengthen your ability to explain schemes, discuss risk and handle common investor questions.
AMC and Distribution Team Members
Connect your day-to-day work with the rules, disclosures and concepts covered in the syllabus.
Finance Students and Career Starters
Gain a structured introduction to mutual funds and a clear path towards exam preparation.
Why choose AAFM India?
Prepare for your exam. With AAFM India.
Chapter-wise lessons, concept builders and exam-focused practice—all in one place.
01
Practice that follows the exam
Our quizzes follow the exam’s topic weightage, helping you plan your practice around the syllabus.
02
Chapter-wise video lectures
Work through chapter-wise video lectures and replay the topics you want to revise.
03
Learn from experienced teachers
Experienced faculty and expert-trained subject matter specialists explain topics in clear, practical language.
04
Understand before you memorise
Chapter-wise concept builders help you understand the reasoning behind the answers.
05
One free mock test
Check your understanding and identify the topics you need to revise before you enrol.
06
One free demo video
See how we teach before choosing the course.
The pathway
Build knowledge you can put to work
The Products
Learn how mutual funds work and how scheme categories, features, risks and costs differ.
The Rules
Understand the regulatory framework, disclosures and conduct expected in mutual fund distribution.
The Investor
Learn the steps involved in KYC, applications, transactions, statements and systematic investments.
The Scheme
Assess suitability using investor needs, risk profile, performance and scheme information.
Program Overview
Learn Mutual Fund Distribution from the Ground Up
The NISM Series V-A certification covers the knowledge needed to sell and distribute mutual funds in India. This preparation course follows the workbook’s 12-unit syllabus, from investment goals and mutual fund structures to regulatory requirements, investor transactions and suitable scheme selection.
You will learn how a mutual fund works, what information to check before discussing a scheme, how transactions are processed, and how to interpret risk and performance. The aim is to help you prepare for the examination while developing a stronger foundation for conversations with investors.
Don’t pass? Get a 100% refund.*
If you do not pass the examination, you can claim a 100% refund under AAFM India’s applicable refund policy.
*Refund coverage and eligibility are governed by the applicable policy. Review the refund terms before enrolling.
*Refund coverage and eligibility are governed by the applicable policy. Review the refund terms before enrolling.
Prepare for the NISM Series V-A Exam with Clarity
Build your understanding of mutual funds step by step, then apply it to the questions a distributor faces in practice. Study scheme categories, regulation, distribution, NAV, taxation and investor services before moving to risk, performance and scheme selection. Give extra attention to investor services and scheme selection: each carries 15% of the workbook’s syllabus weightage. Use chapter-wise practice and revision to identify weak areas and improve your exam readiness.
Skills You Will Build
Mutual Fund Fundamentals
Understand mutual fund structures, scheme categories, key features, risks and costs.
Investor Goal Assessment
Relate scheme considerations to an investor’s goals, time horizon and risk profile.
Scheme Document Reading
Identify important information in scheme documents, disclosures and investor communications.
NAV and Cost Concepts
Understand NAV, total expense ratio and the pricing of mutual fund units.
Investor Transactions & KYC
Understand KYC, applications, transaction processes, cut-off times and systematic transactions.
Performance & Scheme Selection
Interpret returns, benchmarks and risk measures and connect them with suitable scheme-selection considerations.
Faculty
◆Learn from practitioners, not presenters
AAFM INDIA
Chilukuri Vijaya Kumar
LLB, MBA, MSC, MA, CFP, CWM, CTEP, FIII, ALMIKey Expertise:Strategic Wealth & Investment AdvisoryBusiness Development & SME Growth StrategyBehavioral Coaching & Capability Development
From familiar terms to informed conversations
Move Beyond Memorising Mutual Fund Terms
The real shift is being able to connect what you study with an investor’s situation. Learn to explain how a scheme works, what its risks and costs mean, and why suitability matters.
Ask Better Questions
Consider an investor’s goals, time horizon and risk profile before discussing scheme choices.
Read Beyond Returns
Look at risk, benchmarks and performance measures instead of relying on past returns alone.
Handle the Process
Understand essential investor-service steps, from KYC and applications to systematic transactions.
Your entry ticket to the mutual fund industry
Before you can sell a single mutual fund in India or earn any commission, you need an ARN — the AMFI Registration Number. And before AMFI grants that, you must clear NISM Series V-A. This one exam is the gate between wanting to be a distributor and actually being one. Our training is built to get you through it the first time.
NISM Series V - A - Mutual Fund Distributor Certification 46 Lessons 10:09:51
Chapter 1- Investment Landscape
3 Lessons
00:46:11 Hours
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Investment Landscape - Part 1
00:18:30
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Investment Landscape - Part 2
00:22:52
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Practice Questions
00:04:49
Chapter 2- Concept & Role of Mutual Funds
3 Lessons
00:49:51 Hours
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Concept & Role of Mutual Funds - Part 1
00:09:35
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Concept & Role of Mutual Funds - Part 2
00:34:34
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Practice Questions
00:05:42
Chapter 3 - Legal Structure of Mutual funds in India
3 Lessons
00:41:18 Hours
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Legal Structure of Mutual funds in India - Part 1
00:18:05
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Legal Structure of Mutual funds in India - Part 2
00:17:15
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Practice Questions
00:05:58
Chapter 4 - Legal & Regulatory Framework
3 Lessons
00:40:01 Hours
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Legal & Regulatory Framework - Part 1
00:17:43
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Legal & Regulatory Framework - Part 2
00:16:54
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Practice Questions
00:05:24
Chapter 5- Scheme Related information
3 Lessons
00:29:31 Hours
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Scheme Related information - Part 1
00:11:57
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Scheme Related information - Part 2
00:11:19
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Practice Question
00:06:15
Chapter 6 - Fund Distribution & Channel Management Practices
3 Lessons
00:39:32 Hours
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Fund Distribution & Channel Management Practices - Part 1
00:12:37
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Fund Distribution & Channel Management Practices - Part 2
00:21:12
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Concept Builder - Part 3
00:05:43
Chapter 7 - Net Asset value, Total Expense Ratio & Pricing of Units
2 Lessons
00:42:34 Hours
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Net Asset value, Total Expense Ratio & Pricing of Units - Part 1
00:36:40
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Concept Builder - Part 2
00:05:54
Chapter 8 - Taxation
2 Lessons
00:28:57 Hours
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Taxation - Part 1
00:23:54
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Concept Builder - Part 2
00:05:03
Chapter 9 - Investor Services
7 Lessons
02:01:16 Hours
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Investor Services - Part 1
00:15:05
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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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Practice Questions
00:05:19
Chapter 10 - Risk, Return and performance of Funds
5 Lessons
01:36:34 Hours
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Risk, Return and performance of Funds - Part 1
00:15:50
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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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Practice Questions
00:05:56
Chapter 11 - Mutual Funds Scheme Performance
3 Lessons
00:28:45 Hours
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Mutual Funds Scheme Performance - Part 1
00:08:31
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Mutual Funds Scheme Performance - Part 2
00:15:31
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Practice Questions
00:04:43
Chapters 12 - Mutual Funds Scheme Selection
3 Lessons
00:45:21 Hours
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Mutual Funds Scheme Selection - Part 1
00:10:57
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Mutual Funds Scheme Selection - Part 2
00:29:12
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Practice Questions
00:05:12
Mock Tests
6 Lessons
00:00:00 Hours
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NISM Series V-A Mock Test 1
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Answer Sheet Mock Test 1
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NISM Series V-A Mock Test 2
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Answer Sheet Mock Test 2
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NISM Series V-A Mock Test 3
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Answer Sheet Mock Test 3
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Frequently asked questions
The self-paced course costs ₹999 plus 18% GST, so the total payable is ₹1,178.82. It includes all 12 chapters, plain-language explanations, worked numericals, practice questions, timed mocks, mobile and desktop access, and learning support.
Clearing NISM Series V-A makes you eligible to apply for your ARN (AMFI Registration Number) from AMFI. The certificate is the mandatory first step for selling or distributing mutual funds in India.
The certificate is valid for three years. You can renew it through a NISM Continuing Professional Education (CPE) programme or by retaking the exam before it expires.
Yes. There is no minimum qualification. The course is beginner-friendly, with plain-language explanations and worked numericals for learners new to mutual funds.
The course has 46 lessons across 12 chapters, with about 10 hours of video content. Chapters include concept explanations, practice questions or concept builders, followed by three mock tests with answer sheets. This lets you study chapter by chapter and test your preparation before the exam.
Chapter 7 explains NAV, TER and unit pricing with a detailed lesson and concept builder. Worked numericals build your confidence with calculation-based questions.
You learn to match schemes to investor goals, time horizon and risk profile, read scheme documents, understand returns and benchmarks, and follow KYC and transaction processes.
Self-paced or live
◆Choose your Study Mode
Choose the study mode that works best for NISM Your selected course access and applicable fees are shown below.
Study on your own schedule
₹999
+ 18% GST
₹1178.82 payable today
- Chapter-wise structured learning
- Exam-focused practice
- 6 months of LMS access
- Mock-test practice
- Mobile and desktop access
- Learning support
Ready to Prepare for NISM Series V-A?
Build a clear understanding of mutual fund distribution and prepare for the certification exam with a structured approach to the syllabus.
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