n NISM Certifications
X NISM Series X
Medium

Which instrument can be categorized under the Alternative investment asset class?

Practice question from NISM Series XA- Investment Adviser (Level 1) Mock Test 7 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Listed debt securities

  2. B

    Overnight money market instruments

  3. Unlisted debt securities issued by Project SPVs

    Correct answer

  4. D

    ETFs

Why this is the answer

These fall under alternative investments due to their illiquidity and structure.

Test yourself for real

Take a full NISM Series X mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.