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

The NAV of an equity fund is Rs. 76.45 and the face value is Rs. 10. An investor invests Rs 30,000. How many units will be allotted to him? (There is no entry load)

Practice question from Nism VA Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    1866.43

  2. B

    477

  3. 392.41

    Correct answer

  4. D

    3000

Why this is the answer

The number of units allotted is calculated as: \[ \text{Number of Units} = \frac{\text{Investment Amount}}{\text{NAV}} = \frac{30,000}{76.45} \approx 392.41 \]

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