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

Identify the TRUE statements with respect to Transmission of mutual fund units. (A) Before the transfer is effected, the mutual fund will insist for an indemnity against future problems for the mutual fund arising out of the transfer (B) Before the transfer is effected, the mutual fund will not insist on the death certificate of the deceased unit-holder (C) Before the transfer is effected, the mutual fund will insist on the KYC documentation from the nominee

Practice question from NISM Series V A - Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    A and B are true

  2. B

    B and C are true

  3. A and C are true

    Correct answer

  4. D

    All A, B, and C are true

Why this is the answer

In case of the transmission of mutual fund units (when the unit holder dies), the mutual fund will typically request an indemnity from the nominee against future issues and will also require KYC documentation from the nominee. The death certificate is also required for the transfer.

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