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X NISM Series X
Medium
#NISM XIX A for AIF Distributors
Category I and II AIFs are close-ended with a minimum tenure of three years, and their tenure can be extended up to a maximum of five years with approval from at least two-thirds of unit holders by value. The statement that they must be liquidated within one year and extended only up to three years is false.
Practice question from NISM Series XIX A- Alternative Investments Funds (AIF) Distributors Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.