Is a free demo available for the Series V-A mock test?

Yes. You can take a free demo test before paying anything, so you can see the interface, the question style and the explanations for yourself.

How many questions are in the NISM Series V-A exam?

NISM publishes maximum marks rather than a question count for this paper. The exam runs for 2 hours against 100 marks, and requires 50% to pass. Confirm the current structure on the official NISM certifications page before registering.

Does Series V-A have negative marking?

No. Series V-A carries no negative marking, so there is no penalty for attempting a question you are unsure about — leaving it blank scores the same as getting it wrong.

How long should I prepare for Series V-A?

Most candidates who pass first time give it three to four weeks alongside a full-time job, reading the workbook twice and taking several timed mock tests.

SEBI-mandated

NISM Series V-A Mutual Fund Distributors mock test

Series V-A is the certification you need before you can distribute mutual funds in India, and it is the exam most candidates sit first. Our mock tests mirror the real paper — same format, same time pressure, same style of calculation question — so nothing on exam day is a surprise.

Try a free demo test Buy Now — from ₹599

Exam at a glance

Exam fee: ₹1,500
Duration: 2 hrs
Maximum marks: 100
Pass mark: 50%
Negative marking: None

Verified against the official NISM certifications page on 23 July 2026. Fees and exam structure are set by NISM and can change — always confirm before registering.

Who this exam is for

Anyone applying for an ARN to distribute mutual funds
Bank and NBFC staff selling mutual fund schemes
Insurance agents and financial advisers widening what they can advise on
Existing distributors re-certifying before their validity expires

What the exam covers

Mutual fund structure, types of schemes and how they are constituted
The role of the AMC, trustees, custodians and registrars
SEBI mutual fund regulations and AMFI guidelines
Scheme documents — SID, KIM and SAI
NAV, loads, expenses and taxation
Distribution practice, commissions and investor servicing
Risk, return and performance measurement

Topic areas are indicative. The official workbook is the authoritative syllabus and is revised periodically — always prepare against the current edition.

Why candidates lose marks on this paper

Series V-A is not a difficult exam conceptually, but it is unforgiving in two specific places. The first is calculation: NAV, returns and expense-ratio questions are worked, not recognised, and under time pressure people rush them. The second is regulation — the questions test precise thresholds and timelines, and an approximate memory of a rule scores nothing.

Practising against a timed paper is what separates candidates who know the material from candidates who can produce it in two hours. Our analytics show which of those two problems you actually have.

How to prepare

Read the official NISM workbook end to end before attempting a full-length mock. The workbook is the source the questions are written from.
Take a timed full-length test early, not at the end — it tells you where to spend the remaining weeks.
Work every calculation question by hand rather than eliminating options. The exam will not offer convenient distractors.
Revisit each wrong answer's explanation the same day, while you still remember your reasoning.

What you get with this mock test

Questions mapped to the latest official workbook
A free demo test before you pay anything
A written explanation for every question
Topic-wise and full-length timed tests
Instant results with chapter-wise analytics
Unlimited attempts during your validity period

Try a free demo test Buy Now