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

Identify the true statement(s) - (A) The nominee is the beneficial owner of the mutual fund units (B) Nomination does not create any title or beneficial interest in the units in favour of the nominee after the death of the unit-holder

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

Options

  1. A

    Only A is true

  2. Only B is true

    Correct answer

  3. C

    Both A and B are true

  4. D

    None of the above

Why this is the answer

Nomination allows the nominee to receive the units upon the death of the unit-holder, but it does not create ownership rights in the units for the nominee. The nominee holds the units in trust for the legal heirs.

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Nism VA Mock Test 5