NISM PMS Distributors ( NISM 21A ) Certification Exam Notes

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  • Putable Bonds: Allow investors to sell bonds back to the issuer.
  • Credit Ratings: Indicate bond issuer’s creditworthiness, e.g., AAA for high quality.
  • Investment Grade Bonds: High credit ratings, lower default risk.
  • Non-Investment Grade Bonds: Speculative, higher yield but riskier.
  • Bond Valuation: Based on present value of future cash flows.

NISM PMS Distributors ( NISM 21A )

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