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Revision of NISM-Series- V-B: Mutual Fund Foundation (MFF) Certification Examination w.e.f December 1, 2016

The examination seeks to create common minimum knowledge benchmark for new cadre of mutual fund distributors, as per SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, involved in selling and distributing simple and performing mutual fund schemes:

  • Postal agents
  • Retired government and semi-government officials (class III and above or equivalent) with a service of at least 10 years
  • Retired teachers with a service of at least 10 years
  • Retired bank officers with a service of at least 10 years, and other similar persons (such as Bank correspondents) as may be notified by AMFI/AMC from time to time

The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.

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.

Assessment Structure:

The examination consists of 50 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be no negative marking.

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.

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