NISM Series V-D Official Resources: Syllabus and Candidate Rules
Find the official V-D structure, objectives, workbook access and current SEBI/AMFI references for mutual-fund and SIF distribution.
Start with NISM
Official source
Official NISM Series V-D: MF and SIF Distributors links
Current examination scope, marking, study-material access and candidate instructions. Official sources checked October15,2026; workbook content is not reproduced.
- Series V-D examination
- July2026 structure and chapter marks
- Curriculum
- Detailed test objectives
- Candidate FAQ and workbook access
- Certification portal
Mastery Exam Prep is independent companion practice: original practice questions and explanations, not official questions, copied live-exam content, or exam dumps.
Checked October 15, 2026. NISM publishes 150 one-mark MCQs in three hours, 60% passing and a 10% wrong-answer penalty. Obtain the current workbook through NISM’s enrolment or study-material process; these pages do not reproduce it. Confirm current fees directly in the portal rather than relying on an older amount quoted by a preparation site.
Check the current regulatory source
| Need | Primary reference |
|---|---|
| MF operational and SIF rules | SEBI MF Master Circular, March 20, 2026 , read with subsequent effective changes. |
| SIF investor eligibility, dealing and disclosure distinctions | SEBI SIF investor FAQ, September 22, 2026 . |
| Certification route for distribution | SEBI July 21, 2026 certification circular . |
| Distributor registration and conduct | AMFI , including current ARN/EUIN and registration guidance. |
| Tax rules for the relevant year and investor | Income Tax Department and the applicable enacted law. |
| A listed derivative’s terms | The exchange’s dated contract specification, including underlying, expiry, lot, quotation and settlement. |
The V-D certification route covers MF and SIF distribution without a separate V-A certificate; it does not complete every registration or empanelment step. MF-only distribution remains a V-A route. Existing qualifying certificates can have transition treatment, so verify your own status rather than assuming every holder follows the same deadline.
For any changing rule, identify the event date and effective date. Distinguish a proposal, a published amendment and a rule already in force. A worked example’s rate or contract term does not establish a universal current rule.
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