NISM Series 5B Mutual Fund Foundation Certification Examination
NISM VB Exam Mock Tests
NISM-Series-V-B: Mutual Fund Foundation Certification Examination (MFF)
Simple Mutual Fund Exam for Insurance Agents & Post Office Agents.
Exam Pattern
NO NEGATIVE MARK.- ONLY 50 Questions each of 1 Mark
- Only 25 Marks needed to PASS.
- TIME is 2 Hours
New Cadre of Mutual Fund Distributors
AMFI (Association of Mutual Funds in India) updated list:
Insurance Agents- Postal agents
- Retired government and semi-government officials
- Retired teachers (service > 10 yrs)
- Retired bank officers (service > 10 yrs)
Frequently Asked Questions
NISM MFF Exam fee is Rs 1,200 and the certificate Validity is 3 years.
You can renew your certificate by attending the NISM MFF CPE (Continuing Professional Education) program.
Watch our preparation videos and take mock tests on Modelexam.in.
Normal Distributor can sell all types of Schemes. However, the New
Cadre of distributor is allowed to sell units of simple and performing mutual Fund Schemes.
Simple and performing Mutual Fund Schemes will be notified.
After getting the certificate from NISM, the candidate has to approach CAMS along with a fee of Rs 1,500
for applying for ARN (AMFI Registration Number).
Exam Dates & Centres
NISM Registration
Study Material (Short Notes)
Syllabus Outline & Weightage
| NISM 5b MFF Syllabus | Weightage Marks |
|---|---|
| 1: Investment Landscape | 6 marks |
| 2: Concept and Role of a mutual fund | 12 marks |
| 3: Legal Structure of mutual funds | 8 marks |
| 4: Mutual fund products for the new cadre of distributors | 6 marks |
| 5: Scheme Related Information | 12 marks |
| 6: Fund Distribution and Channel Management Practices | 10 marks |
| 7: Performance of Mutual Funds | 12 marks |
| 8: Mutual fund Taxation | 6 marks |
| 9: Investor Services | 20 marks |
| 10: Legal and Regulatory Environment | 8 marks |
Detailed Syllabus
Unit I: Concept and Role of a Mutual Fund
- Role of securities markets in
Indian Economy
- Concept of MFs vs Bank/PO/PPF
deposits
- Mutual fund industry concepts
- Advantages and limitations
- Investment routes
(Direct/Regular)
- Investment options available
- Role of new cadre distributors
Unit II: Fund Structure and Constituents
- Legal structure of MFs in
India
- Service providers and support
functions
- AMC Organisation Structure
Unit III: Mutual Fund Products
- Classification of mutual fund
schemes
- Categorisation of open-end
schemes
Unit IV: Performance of Mutual Funds
- Entry Load and Exit Load in
NAV
- Calculation of returns
- Concept of risk in MF
investment
- Risk adjusted return measures
- Benchmarks
Unit V: Mutual Funds Taxation
- Taxes associated with MF
schemes
- Scheme selection based on tax
implication
Unit VI: Offer Document
- Process of New Fund Offer
(NFO)
- Key components of offer
document
Unit VII: Fund Distribution and Sales Practices
- Distribution channels
- Pre-requisites to become a
distributor
- Transaction charges and
commissions
- Regulations and code of
conduct
Unit VIII: Investor Transactions
- Eligible investors
- Compliance requirements for
investors
- KYC process (KRA)
- Types of investor transactions
- Transaction mediums
- Cut-off timing for
subscription/redemption
- Dematerialisation
Unit IX: Investment Services
- Investment plans
- Systematic transaction
processes
- Statement of Account (SoA) and
CAS
- Nomination and pledge
- Investor services by AMCs
Unit X: Asset Classes
- Objective behind investing in
different asset classes
Unit XI: Financial Planning Concepts
- Basics of Financial Planning
- Financial goals and time
horizon
- Financial Goals vs Investment
Requirements
Unit XII: Helping Investors with Financial Planning
- Steps of financial planning
- Life Cycle and investment
needs
- Wealth Cycle and investment
needs
- Risk profiling
- Model portfolios
- Scheme selection parameters
- Taxation and liquidity (Growth
vs Dividend)
- Tracking performance
Unit XIII: Legal and Regulatory Environment
- Role of SEBI
- Functions of AMFI
- Investors rights and
obligations