NISM V-D · SIF Distributor
The new single exam for SIF and mutual fund distribution. 13 chapters.
13 chapters~120 minCertification39 check questions
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01
Mutual funds: basics, structure and scheme types10 min · How a mutual fund is built, how NAV works, and the SEBI scheme categories every distributor must know.
Start · +20 XP
Start · +20 XP
02
Specialized Investment Funds: the framework11 min · SEBI's 2025 SIF rules: the ₹10 lakh threshold, long-short strategies, the 25% short limit, branding and who may…
Start · +20 XP
Start · +20 XP
03
Distribution, scheme evaluation and suitability9 min · ARN, EUIN, trail commission, the AMFI code, risk-adjusted return measures and how to judge whether an SIF suits…
Start · +20 XP
Start · +20 XP
04
Basics of derivatives9 min · What a derivative is, the four instrument types, OTC versus exchange trading, market participants and the leverage…
Start · +20 XP
Start · +20 XP
05
Understanding the index9 min · How a stock index is built and maintained, free-float weighting, impact cost, and why indices matter for derivatives…
Start · +20 XP
Start · +20 XP
06
Forwards and futures9 min · Forward versus futures contracts, basis and contango, cost-of-carry pricing with a worked example, margins…
Start · +20 XP
Start · +20 XP
07
Options9 min · Calls and puts, moneyness, intrinsic and time value, payoff diagrams with breakeven, the Greeks and put-call parity.
Start · +20 XP
Start · +20 XP
08
Strategies using futures and options9 min · Beta hedging with index futures, protective puts, covered calls, bull call spreads and straddles, each with a worked…
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Start · +20 XP
09
Interest rates and fixed income securities8 min · Simple and compound interest, real versus nominal rates, RBI policy rates, MIBOR, money market instruments, G-Secs…
Start · +20 XP
Start · +20 XP
10
Bond valuation and the yield curve9 min · Pricing a bond from its yield, the price-yield relation, clean and dirty prices, accrued interest, and reading…
Start · +20 XP
Start · +20 XP
11
Duration and convexity9 min · Macaulay and modified duration computed by hand, PVBP, convexity as the correction, and how duration drives bond…
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Start · +20 XP
12
Interest rate futures and options9 min · Exchange-traded interest rate futures on G-Secs and T-bills, contract specifications, pricing, settlement and interest…
Start · +20 XP
Start · +20 XP
13
Hedging, trading and arbitrage with interest rate derivatives10 min · The duration-based hedge ratio with a full worked check, basis risk, curve trades, cash-and-carry arbitrage…
Start · +20 XP
Start · +20 XP
The real exam
NISM Series V-D: SIF and Mutual Fund Distributors
150Questions
180Minutes
60%Pass mark
YesNegative
Pattern as published by NISM; always confirm on the NISM portal before you book.