NISM SERIES V-A MUTUAL FUND DISTRIBUTOR:QUIZ

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Created on August 23, 2026 By skverma.verma29@gmail.com
MFD

NISM-SERIES-V-A : MUTUAL FUND DISTRIBUTOR

1 / 20

Category: MFD

What does SIP stand for?

a) Securities Investment Product

b) Systematic Insurance Plan

c) Systematic Investment Plan

d) Savings Investment Portfolio

Explanation:
SIP stands for Systematic Investment Plan. It allows an investor to invest a predetermined amount periodically into a mutual fund scheme, subject to the scheme's applicable terms.

2 / 20

Category: MFD

What is the main purpose of an investment objective?

a) To describe what the scheme seeks to achieve through its investments

b) To eliminate all risks

c) To guarantee a fixed return

d) To determine an investor's salary

Explanation:
The investment objective describes the financial/investment goal that the mutual fund scheme seeks to pursue.

3 / 20

Category: MFD

Which statement is correct about past mutual fund performance?

a) It guarantees capital protection

b) It eliminates risk

c) It does not guarantee future performance

d) It guarantees future returns

Explanation:
Historical performance can provide information for analysis but does not guarantee future returns.

4 / 20

Category: MFD

Which organization is associated with the mutual fund industry's association framework in India?

a) IRDAI

b) RBI

c) PFRDA

d) AMFI

Explanation:
AMFI stands for Association of Mutual Funds in India.

5 / 20

Category: MFD

What is diversification most closely related to?

a) Spreading investments

b) Avoiding KYC

c) Guaranteeing returns

d) Concentrating all money in one security

Explanation:
Diversification means spreading investments to avoid excessive concentration in one security, issuer, sector or asset class.

6 / 20

Category: MFD

Which institution regulates the securities market in India?

a) PFRDA

b) RBI

c) IRDAI

d) SEBI

Explanation:
SEBI is the principal securities-market regulator in India.

7 / 20

Category: MFD

What is the purpose of KYC?

a) To establish and verify investor identity and required information

b) To calculate NAV

c) To select a fund manager

d) To guarantee returns

Explanation:
KYC means Know Your Customer and forms part of the investor identification and verification process.

8 / 20

Category: MFD

What is the basic principle behind a mutual fund?

a) Providing an insurance contract

b) Lending money directly to a bank

c) Guaranteeing a fixed return

d) Pooling money from investors for investment according to a scheme objective

Explanation:
A mutual fund pools money from multiple investors and invests it according to the stated investment objective of the scheme.

9 / 20

Category: MFD

A responsible distributor should primarily focus on:

a) Maximising transactions regardless of investor needs

b) Matching investor needs and risk considerations with suitable products while following applicable requirements

c) Promising that a scheme cannot lose money

d) Guaranteed returns

Explanation:
Responsible distribution requires understanding the investor, explaining relevant risks and providing appropriate information without making misleading promises.

10 / 20

Category: MFD

Which of the following is generally associated with higher market risk?

a) Savings account

b) Fixed deposit

c) Cash

d) Equity-oriented investment

Explanation:
Equity investments are generally exposed to market fluctuations and therefore can carry significant market risk.

11 / 20

Category: MFD

Which of the following is an asset class?

a) ARN

b) NAV

c) KYC

d) Equity

Explanation:
Equity is an asset class. KYC, ARN and NAV are related to investor identification, distributor registration and mutual fund valuation respectively.

12 / 20

Category: MFD

What is the primary role of a mutual fund distributor?

a) Act as the market regulator

b) Manage India's stock exchanges

c) Guarantee investor returns

d) Distribute mutual fund products and provide relevant investor service

Explanation:
A mutual fund distributor facilitates distribution of mutual fund schemes and related investor services while following applicable regulatory and industry requirements.

13 / 20

Category: MFD

What is diversification intended to achieve?

a) Spread investments across different securities/assets to manage concentration risk

b) Increase taxes

c) Guarantee profits

d) Eliminate all investment risk

Explanation:
Diversification spreads exposure across investments and can reduce concentration risk. It cannot eliminate market risk completely.

14 / 20

Category: MFD

What does ARN relate to?

a) Mutual fund distributor registration

b) Insurance policy number

c) Bank account number

d) Stock exchange settlement

Explanation:
ARN stands for AMFI Registration Number and is associated with registration of mutual fund distributors.

15 / 20

Category: MFD

What is AUM?

a) Assets Under Management

b) Annual Underwriting Margin

c) Annual Unit Management

d) Asset Utility Measure

Explanation:
AUM means Assets Under Management and represents the assets managed by an investment management entity or scheme, depending on the context.

16 / 20

Category: MFD

Which of the following is a debt instrument?

a) Corporate bond

b) Equity mutual fund unit

c) Ordinary share

d) Equity share

Explanation:
A corporate bond is a debt instrument through which an issuer raises money from investors.

17 / 20

Category: MFD

Which entity manages the investments of a mutual fund?

a) Registrar

b) AMC

c) Custodian

d) Investor

Explanation:
The Asset Management Company (AMC) manages the investments of the mutual fund in accordance with the applicable scheme documents and regulations.

18 / 20

Category: MFD

What does NAV generally represent?

a) National Asset Verification

b) Net Annual Variable

c) New Annual Value

d) Net Asset Value per unit

Explanation:
NAV stands for Net Asset Value and, in the context of mutual funds, generally represents the value attributable to each unit of the scheme.

19 / 20

Category: MFD

What does AMC stand for?

a) Asset Monitoring Council

b) Account Management Centre

c) Annual Market Corporation

d) Asset Management Company

Explanation:
AMC stands for Asset Management Company.

20 / 20

Category: MFD

What does an expense ratio broadly indicate?

a) Brokerage paid by every investor separately

b) Guaranteed investor return

c) Tax payable by the investor only

d) Expenses charged to operate/manage a mutual fund scheme relative to its assets

Explanation:
The expense ratio represents the operating expenses of a mutual fund scheme as a proportion of its assets, subject to applicable regulations and disclosures.

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NISM SERIES V-A MUTUAL FUND DISTRIBUTOR:QUIZ

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