NISM XXI A Portfolio Management Services (PMS) Distributors Certification Examination
What are the different names of PMS Distributors Exam ?
pms exam, nism xxi a, pms certification, nism 21a, nism pms certification, pms distributors, nism pms mock test, nism xxi a mock test, nism pms exam, pms certificate, nism portfolio management, pms exam nism
There are 2 exams under NISM Portfolio Management Services Certification. Which should One Choose ?
PMS Distributors ( NISM 21A ) is for agents who are going to sell PMS services to clients ( Sales )
Portfolio Managers ( NISM 21B ) is for portfolio managers who are managing clients portfolio ( Trading & Investments )
Portfolio Management Services (PMS) Distributors 21A mock test
Portfolio Managers Exam 21B mock test
Where can I get NISM PMS Distributors exam Study Material ?
Click here for NISM PMS Distributors exam Short Notes
How to take free mock tests for NISM PMS Distributors exam in our website ?
Where can I get training for NISM PMS Distributors exam ?
Where can I get NISM PMS Distributors Exam Dates ?
Click here for NISM Exam dates, location / centre & timeslots
How to do NISM Exam registration ?
NISM exam registration procedure
Syllabus Outline with Weightages
| Unit No. | Unit Name | Weightages |
|---|---|---|
| Unit 1 | Investments | 07 |
| Unit 2 | Introduction to securities markets | 05 |
| Unit 3 | Investing in stocks | 10 |
| Unit 4 | Investing in fixed income securities | 05 |
| Unit 5 | Derivatives | 05 |
| Unit 6 | Collective Investment Vehicles | 05 |
| Unit 7 | Role of portfolio managers | 10 |
| Unit 8 | Operational aspects of portfolio managers | 13 |
| Unit 9 | Portfolio management process | 15 |
| Unit 10 | Performance measurement and evaluation of portfolio managers |
10 |
| Unit 11 | Taxation | 05 |
| Unit 12 | Regulatory, governance and ethical aspects of portfolio managers |
10 |
Assessment Structure: Exam Pattern for NISM PMS Distributors
The examination consists of 100 multiple choice questions. The assessment structure is as follows:
| Multiple Choice Questions [100 questions of 1 mark each] |
100 x 1 = 100 marks |
The examination should be completed in 2 hours. The passing score for the examination is 60 percent. There shall be negative marking of 10 percent of the marks assigned to a question.
Test Details
100 multiple choice questions of 1 mark each.
Negative marking – 10% of the marks assigned to the question.
Syllabus
I: Investment Landscape
- Define Investment
- Investment versus Speculation
- Know the objectives of Investments
- Estimating the required rate of return
- Various types of risks
- Types of Investments - Role and Characteristics
- channels for making investments
- Investments through managed portfolios
II: Introduction to Securities Markets
- Define Securities Markets
- Primary and secondary securities markets
- Market participants and their activities
- Various market participants and their activities
III: Investing in Stocks
- Equity as an investment
- Risks of equity instruments
- Diversification of risk through equity instruments
- Equity research and stock selection
- Understand Estimation of intrinsic value
- Explain Technical Analysis
IV: Investing in Fixed Income Securities
- Overview of Fixed Income Securities
- Bond Characteristics
- Determinants of bond safety
- Valuation of Bonds
- Measuring price volatility for bonds
V: Derivatives
- Definition of Derivatives
- Types of derivative products
- Structure of derivative markets
- Purpose of Derivatives
- Introduction to Commodity and Currency Futures and Options
- Underlying concepts in derivatives
- Derivatives in PMS
VI:Collective Investment Vehicles
- Concept and Role of Collective Investment Vehicles
- Legal Structure of Mutual Fund, ReITS, InvITs and AIFs
- Types and Working of Mutual Funds, ReITS, InvITs and AIFs
VII: Role of Portfolio Managers
- Overview of portfolio managers in India
- Types of portfolio management services
- Organizational Structure of PMS in India
- General Responsibilities of a Portfolio Manager
- Administration of investor’s portfolio
VIII: Operational Aspects of Portfolio Managers
- Entities which can invest in PMS
- Disclosures to the prospective clients
- Process of on boarding of clients
- Liability in case of Default
- Redressal of Investors grievances
- Disclosures to the regulator
- Costs, expenses and fees of investing in PMS
IX: Portfolio Management Process
- Importance of Asset allocation decision
- Understanding correlation across asset classes and securities
- Steps in Portfolio Management Process
- Asset allocation decision
- Re-balancing of Portfolio
X: Performance measurement and evaluation of Portfolio Managers
- Parameters to define performance – risk and return
- Rate of return measures
- Risk measures
- Risk adjusted return
- Performance Evaluation: Benchmarking and peer group analysis
- Performance attribution analysis
- Performance reporting to the Investor
- Valuation of Securities by Portfolio Manager
- Due Diligence and Portfolio Manager selection
XI: Taxation
- Categories of Investors
- Taxation of different asset classes
- Understand if Fees and Expenses are tax deductible
- Tax Reporting and Compliance
- Portfolio Investment Scheme for NRIs
XII: Regulatory, Governance and Ethical Aspects of Portfolio Managers
- Prevention of Money Laundering Act, 2002
- SEBI (Prohibition of Insider Trading) Regulation 2015
- SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003
- Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020
- Investor Charter for Portfolio Management Services
