n NISM Certifications
V-A NISM Series V-A
Medium

A mutual fund has the policy of imposing an exit load of 2% for redemption up to one year and 1% for redemptions beyond one year. If an investor redeems 2000 units at an NAV of Rs 40 at the end of six months from the date of investment, what will be the redemption amount receivable by the investor?

Practice question from Nism VA Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Rs. 76500

  2. B

    Rs. 79200

  3. C

    Rs. 80000

  4. Rs. 78400

    Correct answer

Why this is the answer

The investor is redeeming within six months, so a 2% exit load applies. Total redemption amount: 2000 units × Rs 40 = Rs 80,000. Exit load: 2% of Rs 80,000 = Rs 1,600. Net redemption amount: Rs 80,000 - Rs 1,600 = Rs 78,400

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Nism VA Mock Test 5