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Examination Objectives:

On successful completion of the examination the candidate should:

  • Know the basics of mutual funds, their role and structure, different kinds of mutual fund schemes and their features
  • Know how mutual funds are distributed in the market-place, how specified schemes are to be evaluated and how suitable schemes can be recommended by this cadre of distributors to prospective investors.
  • Know the rules and regulations related to distribution of specified products.
  • Know the basics of financial planning as an approach to investing in mutual funds.


Test Details:

Name of Module: NISM-Series-V-B: Mutual Fund Foundation Certification Examination

Fees (Rs.) Test Duration (in minutes) No. of Questions Maximum Marks Pass Marks (%) Certificate # Validity (in years)
1200+ 120 50 50 50 3

+ Payment gateway charges extra.

# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.


NISM Mutual Fund Foundation Syllabus


I. Concept and Role of a Mutual Fund

  1. Concept of a mutual fund
  2. Advantages and limitations of mutual fund
  3. List different types of funds

II. Fund Structure and Constituents  

  1. Legal structure of mutual funds in India
  2. Role of Trustee, Sponsor and AMC
  3. Other Service Providers and their functions

III. Legal and Regulatory Environment

  1. Role of the regulators in Mutual Fund Industry
  2. Know the salient features of the AMFI Code of Ethics and AMFI Guidelines & Norms for Intermediaries (AGNI)
  3. Know the Investor rights and obligations

IV. Offer Document

  1. Know the process of New Fund Offer (NFO)
  2. Know the Investment Objective, Investment Policy and Investment Strategy
  3. Know the regulatory aspects of an offer document
  4. Know the salient features of Scheme Information Document (SID), Statement of Additional Information (SAI) and Key Information Memorandum (KIM)

V. Fund Distribution and Sales Practices

  1. Know the various distribution channels for mutual funds
  2. Know the pre-requisites for becoming a mutual fund distributor
  3. Know the elements covered in an agreement between a distributor and a mutual fund
  4. Know the sales practices and commission structure

VI. Mutual Fund Products

  1. Product features of diversified equity schemes, fixed maturity plans and index schemes
  2. Features of SEBI regulations on Risk disclosures and Return presentations
  3. Fact sheet and their uses

VII. Investor Services

  1. Know the process of purchase transactions
  2. Know the processes of redemptions by investors
  3. Know the processes relating to systematic investment plans
  4. Know the processing relating to systematic withdrawals and transfers
  5. Know the other investor services and facilities offered by mutual funds.
  6. Know the contents and periodicity of Statement of account to the investor
  7. Explain the process for Nomination and Pledge
  8. Know the service standards mandated for a mutual fund towards its investors

VIII. Selecting the Right Investment products for Investors  

  1. Analyzing needs and profile of the client
  2. Identifying the ideal Mutual Fund product for investors

IX. Helping Investors with Financial Planning

  1. Need for Financial Planning
  2. Role of different asset classes and allocation
  3. Basics steps of financial planning