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

Identify the FALSE statement/s: (A) For equity mutual funds schemes which are actively managed (e.g., Diversified equity fund/Balance funds), the net asset value need NOT be declared up to 4 decimal points (B) Each mutual fund scheme’s account is combined with the accounts of the Asset Management Company

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

Options

  1. A

    Only 1 is false

  2. Only 2 is false

    Correct answer

  3. C

    Both 1 and 2 are false

Why this is the answer

Statement 1 is true: Actively managed equity funds report NAV up to 2 decimal places, note 4. Statement 2 is false: The accounts of the mutual fund schemes must be kept separate from the accounts of the AMC (Asset Management Company). They cannot be combined.

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Nism VA Mock Test 5