NISM Series V-A: Mutual Fund Distributors Certification
NISM certification that individuals distributing or selling mutual funds in India must hold, under SEBI regulations, before they can get an ARN. An online objective test on mutual fund structure and products, fund accounting and NAV, taxation, SEBI and AMFI regulations, investor services, risk, return and performance, and the suitability of schemes for investors.
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Which NISM Series Do You Need? V-A, V-D, ARN and Job Requirements
V-A for selling mutual funds with an AMFI ARN, V-D for SIFs since July 2026, V-B for the new cadre, VIII, X, XV and XXI-A for other roles, with fees and the 21 July 2026 change.
NISM Series V-A Certificate Validity, CPE and Re-certification Rules
A V-A certificate is valid for 3 years. You renew it in the last 12 months by passing again or by a one-day CPE or online eCPE, and your AMFI ARN renews after it. Rules, costs and what a lapse costs.
NISM Series V-A Exam Fee, Test Centres and How to Book the Exam
The exam fee is Rs 1,500 plus gateway charges, booked on NISM’s certification portal for a slot in a test centre. Steps, documents, reschedule and refund rules, and the AMFI ARN fee that follows.
NISM Series V-A Chapter-wise Weightage and Syllabus by Unit
The 12 units of the Mutual Fund Distributors exam with NISM’s own weightage in marks, our count of learning objectives per unit, and the curriculum sections. Two units carry 30 of 100 marks.
NISM Series V-A Exam Pattern: 100 Questions, Pass 50, No Negative Marking
The Mutual Fund Distributors exam is 100 MCQs of one mark in 2 hours, with 50 marks to pass and no negative marking, unlike most other NISM series. Every figure here is from NISM’s own pages.
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- 21 min
Study: Mutual fund concepts
- 6 min
Review what you missed. Write down the reason behind each correction.
- 3 min
Close your notes and recall the main ideas in your own words.
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