n NISM Certifications
X NISM Series X
Medium

Regarding the disclosure document of a portfolio management scheme (PMS), which statement is true?

Practice question from NISM Series XA- Investment Adviser (Level 1) Mock Test 1 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Depends on the agreement between PMS and investor

  2. Specified by regulations

    Correct answer

  3. C

    Decided by stock exchanges

  4. D

    Decided by each PMS provider

Why this is the answer

The SEBI regulations mandate the content of PMS disclosure documents, ensuring transparency and standardization.

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