NISM Series V-A Exam Blueprint
Review the NISM Series V-A format, official 12-unit weightage, suggested practice allocation, timing checkpoints, and preparation priorities.
Current public format
| Item | Detail |
|---|---|
| Examination | NISM-Series-V-A: Mutual Fund Distributors Certification Examination |
| Questions | 100 multiple-choice questions |
| Marks | 1 mark per question |
| Duration | 120 minutes |
| Pass mark | 50% |
| Negative marking | None |
The format and unit weights below follow NISM’s public examination and curriculum information. Confirm current candidate and scheduling rules directly with NISM before booking.
Official unit weightage
The published percentages provide a useful way to allocate a 100-question practice mock. The suggested counts below mirror those weights for preparation; NISM does not promise that every live paper will reproduce this exact unit count.
| Unit | Weight | Practice questions |
|---|---|---|
| 1. Investment Landscape | 8% | 8 |
| 2. Concept and Role of a Mutual Fund | 6% | 6 |
| 3. Legal Structure of Mutual Funds in India | 4% | 4 |
| 4. Legal and Regulatory Framework | 10% | 10 |
| 5. Scheme Related Information | 10% | 10 |
| 6. Fund Distribution and Channel Management Practices | 6% | 6 |
| 7. Net Asset Value, Total Expense Ratio and Pricing of Units | 8% | 8 |
| 8. Taxation | 4% | 4 |
| 9. Investor Services | 15% | 15 |
| 10. Risk, Return and Performance of Funds | 7% | 7 |
| 11. Mutual Fund Scheme Performance | 7% | 7 |
| 12. Mutual Fund Scheme Selection | 15% | 15 |
| Total | 100% | 100 |
Coverage priorities
The blueprint is not a reason to study only the largest units. Use it to allocate review and mock questions:
- 30-question practice allocation: Investor Services plus Scheme Selection.
- 20-question practice allocation: Legal and Regulatory Framework plus Scheme Related Information.
- 16-question practice allocation: Investment Landscape plus NAV, expense ratio, and unit pricing.
- 14-question practice allocation: Risk/return plus Scheme Performance.
- 20-question practice allocation: Mutual-fund role, legal structure, distribution, and taxation.
What the blueprint does not show
The unit weight does not tell you which exact rule, calculation, document, transaction, or investor profile will appear. Prepare at the decision level:
- identify the actor and role;
- identify the document or authority;
- apply the stated date and current-rule facts;
- perform the required calculation;
- connect the product to the investor’s goal, horizon, risk, liquidity, tax, and portfolio facts.
Timing checkpoints
| Progress | Target elapsed time |
|---|---|
| 20 questions | 22 minutes |
| 40 questions | 44 minutes |
| 60 questions | 66 minutes |
| 80 questions | 88 minutes |
| First pass through 100 questions | 110 minutes |
| Checks and marked questions | 10 minutes |
Do not let one calculation consume the time needed for several conceptual questions. Choose the best supported answer and return later if the delivery interface permits review.
Return to the Series V-A exam hub or take the 100-question public practice exam .