NISM Series
NISM Series V-A: Mutual Fund Distributors
Pass the NISM Series V-A in one attempt. Concept-by-concept breakdowns, formula sheets, India-specific examples, and a full-length mock test.
The exam at a glance
100
Questions
120min
Duration
50%
Pass mark
None
Negative marking
Online MCQ exam · certificate valid for 3 years · administered by NISM.
Guided prep
The complete NISM Series V-A course — free.
Self-paced video lessons with worked examples and quizzes. No paywall — just sign in and start.
NISM Series VA
FreeNISM Series V-A is the Mutual Fund Distributors Certification Examination administered by the National Institute of Securities Markets (NISM) in India.
Open courseNISM Series VA Last 1 hour Preparation
FreeIn this course we have solved and explained more than 100 questions that will help you prepare for NISM Series VA exam even at the last moment.
Open courseConcepts in this series
01 live
Test yourself
Sit a full-length mock for NISM Series V-A.
Same duration, weighting and difficulty as the real exam — scored on submit with an explanation on every question. 30 full mocks available.
Cleared the exam?
Become a mutual fund distributor with ZFunds.
Get your AMFI ARN, onboard clients, and earn trail income — ZFunds gives you the tools, training and support to build a distribution business, free.
NISM Series V-A — frequently asked questions
What is the NISM Series V-A certification?
NISM Series V-A — Mutual Fund Distributors — is the SEBI-mandated certification you must clear to become an AMFI-registered mutual fund distributor (MFD) in India. It covers fund structure, regulation, valuation, distribution practices and investor protection.
How many questions are in the exam, and what is the pass mark?
The exam has 100 multiple-choice questions in 120 minutes. You need 50% to pass, and there is no negative marking.
Is there negative marking in NISM V-A?
No. NISM Series V-A has no negative marking, so it is always worth attempting every question.
How long is the certificate valid?
The NISM V-A certificate is valid for 3 years from the exam date. It can be renewed through the CPE (Continuing Professional Education) programme before it expires.
How can I prepare for free?
Read the concept explainers in this series, sit the full-length mock tests, and drill the question library — all free here. Most learners clear V-A in 3–4 weeks of focused prep.