NISM Series V-A Practice Updates and Feedback

See what changed in Finance Prep’s NISM Series V-A practice and help us improve it. Try the free practice exam or send private feedback .

Current practice

The September 2026 edition contains 2,077 original practice questions covering the 12 units in NISM’s Mutual Fund Distributors curriculum . Counts were checked on September 22, 2026.

The bank includes 1,597 single-answer questions and 480 Select TWO exercises. Diagrams in 136 questions support relationship, allocation and sequence interpretation. Every answer option has an explanation, so you can connect the reasoning directly to the choice you considered.

NISM’s published examination has 100 single-answer questions in two hours, a 50% pass mark and no negative marking. The app’s Select TWO exercises are additional learning practice and can appear in mixed and timed sessions. Our free 100-question practice exam contains only single-answer questions. Confirm the official format and candidate requirements with NISM .

Finance Prep Premium includes all 2,077 questions in this bank, the other Finance Prep banks, topic drills, timed practice, explanations and saved progress during your access period. The public set and app preview let you inspect practice before purchasing.

Dated improvements

September 22, 2026 — Rebuilt practice with visual scenarios and answer-by-answer explanations

Released a rebuilt NISM Series V-A practice bank after reviewing every question. The work expanded the ways you apply mutual-fund knowledge: interpret investor records and scheme documents, calculate cash flows and returns, follow service sequences, compare risk measures and judge scheme suitability from the investor’s constraints.

The review corrected or clarified areas where a small detail could change the answer:

• Current regulation: scheme-category transitions, issuer and group limits, and the distinction between an announcement and its effective date.
• Investor services: complete-request dates, bank-change cooling periods, mandate status and transaction sequence.
• Tax and calculations: capital-loss set-off assumptions, charges and net proceeds, annualisation, portfolio exposure and realistic fund structures.
• Explanations and diagrams: the deciding fact is stated alongside each answer, with diagrams checked against the scenario and calculations.

The free public exam now draws from this reviewed edition. The exam hub, study guidance and reference pages explain the full-bank count, the free preview and the additional Select TWO practice.

This is a Finance Prep practice-bank edition, not a new NISM examination code. The earlier 1,459-question edition remains separately available for learners who already use it; its questions are not included in the 2,077 count above. Existing study history stays with the edition in which it was recorded.

How to interpret practice results

Editorial review checks factual support, arithmetic, assumptions, alternatives, explanations and coverage. It does not establish that Finance Prep questions have the same difficulty as NISM questions or that a practice percentage predicts passing.

Review mistakes, correct guesses and slow calculations separately. Repeating a familiar set can raise your score through recognition. Use fresh questions after revisiting a weak unit, and use the Study Plan to balance recall, application and timing.

Share NISM Series V-A feedback

Feedback about NISM Series V-A in Finance Prep goes privately to our team. Tell us about a question, a coverage gap, or an app improvement. Email is optional. For account or billing help, contact support.