NISM VA Mock Test 100 Question Free | NISM VA Mutual Fund Distributor Mock Test Question Free PDF | NISM VA mock test 100 question pdf free download
1. In the process of launching a new mutual fund scheme, which regulatory body in India plays a crucial role in approving and regulating the prospectus or Offer Document?
a. AMFI (Association of Mutual Funds in India)
b. RBI (Reserve Bank of India)
c. Ministry of Corporate Affairs
d. SEBI (Securities and Exchange Board of India)
2. What is the primary objective of presenting information in the offer document in a clear, concise, and easily understandable manner?
a. To comply with legal regulations
b. To impress sophisticated investors
c. To assist investors in making informed decisions
d. To attract inexperienced investors
3. What are the three important documents related to mutual fund schemes?
a. Key Information Document (KID), Scheme Information Document (SID), and Statement of Additional Information (SAI)
b. Key Information Memorandum (KIM), Scheme Information Document (SID), and Statement of Additional Information (SAI)
c. Mutual Fund Memorandum (MFM), Scheme Information Leaflet (SIL), and Additional Information Statement (AIS)
d. Investment Summary (IS), Fund Information Guide (FIG), and Additional Scheme Insights (ASI)
4. Who prepares the Key Information Memorandum (KIM), Scheme Information Document (SID), and Statement of Additional Information (SAI)?
a. Regulatory authorities
b. Mutual fund investors
c. Asset Management Company (AMC)
d. Stock exchanges
5. Which document serves as the concise version of the Scheme Information Document (SID)?
a. Memorandum of Understanding (MOU)
b. Key Investment Summary (KIS)
c. Key Information Memorandum (KIM)
d. Financial Summary Document (FSD)
6. How often are offer documents required to be revised and updated according to the current regulations?
a. Every year
b. Quarterly
c. Once in two years
d. Only when there are major market fluctuations
7. In which year was the Unit Trust of India established, becoming the first mutual fund in India?
a. 1955
b. 1963
c. 1972
d. 1980
8. In which year was the Securities and Exchange Board of India (SEBI) Act passed?
a. 1985
b. 1988
c. 1990
d. 1992
9. In the context of sectoral funds, what is the primary determinant of returns for investors?
a. Overall market conditions
b. Performance of the respective industries
c. Interest rate fluctuations
d. Government policies
10. How should investors approach sectoral funds?
a. Invest for the long term without monitoring sector performance
b. Rely solely on expert advice for investment decisions
c. Keep a watch on the performance of specific industries and exit at an appropriate time
d. Only invest in sectors related to technology and software
11.What characterizes a Load Fund in the context of mutual funds?
a. It offers guaranteed returns regardless of market conditions.
b. It charges a percentage of NAV for entry or exit.
c. It exclusively invests in low-load sectors.
d. It provides free entry and exit for investors.
12. How is the charge in a Load Fund typically utilized by the mutual fund?
a. It is distributed among existing investors.
b. It covers the fund manager’s salary.
c. It is allocated for marketing and distribution expenses.
d. It goes directly to the government as a tax.
13. In a Load Fund with an NAV per unit of Rs.10 and 1% entry and exit loads, how much would an investor pay to buy units?
a. Rs.9.90
b. Rs.10.00
c. Rs.10.10
d. Rs.11.00
14. What should investors consider while making investments in Load Funds?
a. The performance track record and service standards only.
b. The presence of entry and exit loads only.
c. Both the loads and the performance track record.
d. The government regulations associated with the fund.
15. In the provided scenario, what amount do investors receive per unit when offering their units for repurchase in a Load Fund with a 1% exit load?
a. Rs.9.90
b. Rs.10.00
c. Rs.10.10
d. Rs.11.00
16. What is the primary consideration for investors when evaluating a Load Fund?
a. The fund’s track record and service standards.
b. The fund’s marketing strategy.
c. The presence of entry and exit loads.
d. The fund’s association with government bodies.
17. What characterizes a No-load Fund?
a. It charges a percentage of NAV for entry or exit.
b. It requires investors to pay additional charges on purchase or sale.
c. It does not charge for entry or exit.
d. It exclusively invests in high-load sectors.
18. What is the key distinction between Load Funds and No-load Funds?
a. Load Funds have higher NAVs.
b. No-load Funds do not charge for entry or exit.
c. Load Funds have lower management fees.
d. No-load Funds provide guaranteed returns.
19. What is a crucial requirement for a scheme that promises assured returns, as per the provided information?
a. High market volatility
b. Approval from the stock exchange
c. Full guarantee by the sponsor or AMC, disclosed in the offer document
d. Regular review and change of return structure
20. How do some schemes with assured returns operate, as mentioned in the information?
a. They assure returns for the entire period without any review.
b. They review and change assured returns annually.
c. They guarantee returns only for a certain period, irrespective of market conditions.
d. They provide guaranteed returns based on daily market fluctuations.
21.What flexibility do fund managers have in altering asset allocation according to the information provided?
a. They have no flexibility and must adhere strictly to the disclosed allocation.
b. They can only increase the percentage of the fund in equity instruments.
c. They can change asset allocation based on market trends for short-term defensive considerations.
d. They can only change asset allocation on a permanent basis.
22. Why might a fund manager change asset allocation on a short-term basis, according to the information?
a. To maximize returns for investors.
b. To strictly adhere to the disclosed allocation.
c. To protect the Net Asset Value (NAV).
d. To follow market trends without considering defensive strategies.
23. What action must a mutual fund take if it wants to change asset allocation on a permanent basis, as per the information?
a. No action is required; the fund can change allocation freely.
b. Inform the unitholders and provide an option to exit the scheme at the prevailing NAV without any load.
c. Change the allocation without notifying unitholders.
d. Seek approval from the regulatory authorities.
24. In altering asset allocation, what is the primary consideration for fund managers according to the information?
a. Maximizing short-term profits
b. Protecting the Net Asset Value (NAV)
c. Ignoring the interests of investors
d. Strictly adhering to the disclosed allocation
25. Can a mutual fund alter the nature of a scheme as specified in the offer document?
a. No, any change in nature is strictly prohibited.
b. Yes, without any communication to unitholders.
c. Yes, but only after obtaining approval from the regulatory authorities.
d. Yes, with proper communication to unitholders.
26. What is considered fundamental attributes of a mutual fund scheme, according to the information provided?
a. The location of the head office.
b. Any change in the investment pattern.
c. The language of communication with unitholders.
d. The daily circulation of newspapers.
27. What action must a mutual fund take if it intends to change fundamental attributes of a scheme?
a. Notify the regulatory authorities only.
b. Inform the unitholders in writing and advertise the change in newspapers.
c. Change attributes without notifying anyone.
d. Seek approval from the stock exchange.
28. What right do unitholders have if they do not wish to continue with a scheme after a change in fundamental attributes?
a. They must continue with the scheme regardless of their preference.
b. They can exit the scheme at the prevailing NAV without any exit load.
c. They can exit the scheme with a reduced exit load.
d. They can only exit if they provide written consent.
29.How frequently are the Net Asset Values (NAVs) of open-ended schemes disclosed?
a. Monthly
b. Daily
c. Quarterly
d. Annually
30. Where can investors access the NAVs of all mutual funds?
a. Only in newspapers
b. Exclusively on mutual fund websites
c. Websites of the Association of Mutual Funds in India (AMFI)
d. In financial newspapers and research agencies’ reports
31. In what time frame are mutual funds required to publish their performance results, including returns/yields?
a. Monthly
b. Half-yearly
c. Annually
d. Bi-weekly
32. What additional details are investors advised to look into in the half-yearly results of mutual funds?
a. Only returns/yields over different periods
b. Percentage of expenses of total assets and other relevant information
c. NAVs for the last six months
d. Only the ranking of various schemes
33. When are mutual funds required to send the annual report or abridged annual report to unitholders?
a. Monthly
b. At the end of the financial quarter
c. At the end of the year
d. On the scheme’s inception date
34. Where can investors find various studies on mutual fund schemes, including yields and performance rankings?
a. Only on financial newspapers
b. Only on the websites of mutual funds
c. Only on AMFI’s website
d. In financial newspapers and research agencies’ reports
35. what should investors consider regarding NAVs of similar type schemes from different mutual funds?
a. Higher NAVs always indicate better performance.
b. Lower NAVs guarantee higher returns.
c. NAVs have no relevance; consider other factors.
d. Choose schemes with the highest NAV for better outcomes.
36. What should investors prioritize, for potentially higher returns?
a. Scheme availability
b. Professional management
c. Lower NAV
d. Higher number of units
37. In the context of mutual funds, what is suggested about the relationship between NAV and returns?
a. Focus solely on NAV for better returns.
b. Consider NAV and scheme management equally.
c. Give more weightage to scheme management than lower NAV.
d. NAV is irrelevant; consider other factors.
38. What is the correlation between the sponsor’s net worth and the likelihood of better returns?
a. Direct correlation
b. Inverse correlation
c. No correlation
d. Unpredictable correlation
39. What is the purpose of providing the financial performance, including the net worth of the sponsor, in the offer document?
a. To guarantee better returns
b. To assess the scheme’s track record
c. To determine the NAV
d. To attract more sponsors
40. For how many years is the financial performance, including the net worth of the sponsor, required to be given in the offer document?
a. One year
b. Two years
c. Three years
d. Five years
41. What do mutual funds pay to unitholders in the case of winding up a scheme?
a. Fixed amount
b. Sum based on prevailing NAV
c. Sum based on scheme popularity
d. A percentage of the initial investment
42. What is asset allocation?
A) A process of allocating money across different asset categories to achieve an objective.
B) A process of buying and selling stocks to maximize returns.
C) A process of investing in a single asset class.
43. What is strategic asset allocation?
A) An approach to maintain a target allocation across various asset categories.
B) An approach to dynamically change the allocation between the asset categories.
C) An approach to invest only in stocks.
44. What factors are considered in strategic asset allocation?
A) Financial goals, time horizon, and risk profile.
B) Market trends, analyst reports, and current events.
C) Personal preferences, social media, and news headlines.
45. What is tactical asset allocation?
A) An approach to dynamically change the allocation between the asset categories.
B) An approach to maintain a target allocation across various asset categories.
C) An approach to invest only in bonds.
46. What is the purpose of tactical asset allocation?
A) To invest only in low-risk assets
B) To invest in a diversified portfolio of stocks and bonds.
C) To take advantage of opportunities presented by various markets at different points in time.
47. Who is tactical asset allocation suitable for?
A) Seasoned investors operating with a large investible surplus.
B) Novice investors with limited funds.
C) Investors looking for short-term gains.
48. What is rebalancing?
A) Making modifications in the asset allocation to restore the target allocation.
B) Selling all the assets and investing in a new portfolio.
C) Investing only in high-risk assets.
49. Why is rebalancing important?
A) It restores the target asset allocation and helps achieve the investor’s objective.
B) It maximizes returns in a short period of time.
C) It minimizes losses in a bear market.
50. What happens when the asset allocation deviates from the target?
A) The portfolio should be rebalanced to restore the target allocation.
B) The investor should hold on to the assets and wait for them to recover.
C) The investor should sell all the assets and start a new portfolio.
51. What is the benefit of rebalancing?
A) It makes the investor buy low and sell high.
B) It minimizes risk and maximizes returns.
C) It guarantees a fixed rate of return.
52. What is the example given in the passage to explain rebalancing?
A) Selling some part of the investment in asset A and buying some in asset B.
B) Selling all the assets and investing in a new portfolio.
C) Holding on to the assets and waiting for them to recover.
53. When should an investor rebalance their portfolio?
a) When the various asset categories go through market cycles of ups and downs
b) When the investor’s situation changes and their needs or risk appetite might have changed
c) Both a and b
d) None of the above
54. Is rebalancing required for strategic asset allocation only?
A) No, it is required for tactical asset allocation as well.
B) Yes, it is required for strategic asset allocation only.
C) No, rebalancing is not required for any type of asset allocation.
55. What happens when an investor’s current asset allocation deviates from the target allocation?
a) The portfolio should be left unchanged
b) The portfolio should be rebalanced to restore the target asset allocation
c) The investor should invest more money in the underperforming asset category
d) None of the above
56. What is SEBI’s mandated rebalancing period for all schemes other than Index Funds and Exchange Traded Funds?
a) 7 business days
b) 15 business days
c) 30 business days
d) 60 business days
57. Which type of asset allocation approach is typically suitable for seasoned investors operating with a large investible surplus?
a) Strategic asset allocation
b) Tactical asset allocation
c) Both a and b
d) None of the above
58. How is the gold held by a gold exchange traded fund scheme valued?
a) Based on the daily gold prices in the local market
b) Based on the AM fixing price of the London Bullion Market Association (LBMA)
c) Based on the spot price of gold in New York Stock Exchange
d) Based on the average price of gold across multiple global exchanges
59. What is the fineness requirement for gold held by a gold exchange traded fund scheme?
a) 990.0 parts per thousand
b) 995.0 parts per thousand
c) 999.9 parts per thousand
d) 999.0 parts per thousand
60. How is the silver held by a silver exchange traded fund scheme valued?
a) Based on the daily silver prices in the local market
b) Based on the AM fixing price of the London Bullion Market Association (LBMA)
c) Based on the spot price of silver in New York Stock Exchange
d) Based on the average price of silver across multiple global exchanges
61. What is the fineness requirement for silver held by a silver exchange traded fund scheme?
a) 990.0 parts per thousand
b) 995.0 parts per thousand
c) 999.9 parts per thousand
d) 999.0 parts per thousand
62. Who issues the valuation guidelines for gold and silver in exchange traded fund schemes?
a) Reserve Bank of India (RBI)
b) London Bullion Market Association (LBMA)
c) Securities and Exchange Board of India (SEBI)
d) New York Stock Exchange (NYSE)
63. True or False: The value of gold and silver in exchange traded fund schemes is determined by the local market prices.
64. What is the currency used for valuing gold and silver in exchange traded fund schemes?
a) Indian Rupees (INR)
b) US Dollars (USD)
c) British Pounds (GBP)
d) Euro (EUR)
65. What is the purpose of the valuation guidelines issued by SEBI for gold and silver in exchange traded fund schemes?
a) To ensure fair pricing for investors
b) To maximize profits for the asset management company
c) To determine the purity of gold and silver holdings
d) To regulate trading of precious metals in the local market
66. Which market association’s fixing price is used for valuing gold and silver in exchange traded fund schemes?
a) New York Stock Exchange (NYSE)
b) London Stock Exchange (LSE)
c) London Bullion Market Association (LBMA)
d) Bombay Stock Exchange (BSE)
67. True or False: The valuation guidelines for gold and silver are subject to the conditions mentioned in SEBI (MF Regulations), 1996.
68. What is the distinctive feature of open-ended schemes?
a) The ongoing facility to acquire new units
b) The restriction on acquiring new units
c) The absence of entry and exit loads
d) The fixed Sale Price and re-purchase Price
69. What was the difference between the Sale Price and NAV in the past?
a) Exit load
b) Entry load
c) Repurchase Price
d) Market price
70. If the NAV of a scheme is Rs 11.00 per unit and it charges an entry load of 1 percent, what would be the Sale Price?
a) Rs 11.00
b) Rs 11.10
c) Rs 11.11
d) Rs 11.01
71. What is the current relationship between the Sale Price and NAV?
a) Sale Price is higher than NAV
b) Sale Price is lower than NAV
c) Sale Price is equal to NAV
d) Sale Price is determined separately from NAV
72. What is the difference between the NAV and re-purchase Price called?
a) Entry load
b) Exit load
c) Sale Price
d) Market price
73. If the NAV of a scheme is Rs. 11 per unit and it charges an exit load of 1 percent, what would be the re-purchase Price?
a) Rs. 10.90
b) Rs. 11.00
c) Rs. 11.01
d) Rs. 10.89
74. What is the purpose of entry and exit loads?
a) To discourage investors from buying units
b) To increase the NAV of the scheme
c) To compensate for the administrative costs
d) To ensure fair pricing for buying and selling units
75. What is the current policy regarding entry loads?
a) Entry loads are permitted
b) Entry loads are not permitted
c) Entry loads vary based on market conditions
d) Entry loads are decided by the investors
76. What is the current policy regarding exit loads?
a) Exit loads are permitted
b) Exit loads are not permitted
c) Exit loads vary based on market conditions
d) Exit loads are decided by the investors
77. What is the purpose of calibrating the load in a mutual fund scheme?
a) To discourage investors from holding their units longer
b) To incentivize investors to hold their units longer
c) To increase the load for all investors uniformly
d) To maximize the load collected by the AMC
78. Which regulatory body has banned entry loads in mutual fund schemes?
a) RBI
b) SEBI
c) IRDAI
d) PFRDA
79. What is the current requirement for the Sale Price in mutual fund schemes?
a) It should be lower than the NAV
b) It should be higher than the NAV
c) It should be equal to the NAV
d) It should be a fixed percentage of the NAV
80. Are there any distinctions made among unitholders based on the amount of subscription when charging exit loads?
a) Yes, higher subscription amounts are charged higher exit loads
b) No, all unitholders are charged the same exit load regardless of their subscription amount
c) It varies based on the scheme and investment objective
d) Only new unitholders are charged exit loads
81. Are exit loads applicable to bonus units and units allotted on reinvestment of dividends?
a) Yes, exit loads are charged on all units
b) No, exit loads are not charged on bonus units and units allotted on reinvestment of dividends
c) Exit loads vary for bonus units and units allotted on reinvestment of dividends
d) Exit loads are charged at a discounted rate for bonus units and units allotted on reinvestment of dividends
82. What should be done with the exit loads collected in a scheme?
a) They are available for the AMC to bear selling expenses
b) They are distributed to unitholders as additional dividends
c) They are credited back to the scheme immediately
d) They are used to cover regulatory charges and taxes
83. How are upfront commissions to distributors paid?
a) They are deducted from the NAV of the scheme
b) They are paid directly by the AMC to the distributor
c) They are collected as a separate load from investors
d) They are paid by the investor directly to the scheme
84. What is the impact of transaction charges on the NAV per unit?
a) They increase the NAV per unit
b) They decrease the NAV per unit
c) They have no impact on the NAV per unit
d) They depend on the type of transaction charges
85. How do transaction charges affect the cost for the investor?
a) They increase the overall cost for the investor
b) They decrease the overall cost for the investor
c) They depend on the type of transaction charges
d) They have no impact on the cost for the investor
86. What is the maximum percentage of NAV that a mutual fund scheme can invest in debt instruments issued by a single issuer?
a) 5%
b) 10%
c) 12%
d) 15%
87. Which type of debt instruments are exempt from the investment limit mentioned in the previous question?
a) Government Securities and treasury bills
b) Corporate bonds
c) Commercial papers
d) Mortgage-backed securities
88. Under what condition can a mutual fund scheme invest in mortgage-backed securities?
a) They must be rated below investment grade
b) They must be issued by a government entity
c) They must be rated not below investment grade
d) They must be listed on the stock exchange
89. Can a mutual fund scheme invest in unlisted debt instruments, including commercial papers?
a) Yes, there are no restrictions on such investments
b) No, mutual funds are prohibited from investing in unlisted debt instruments
c) Yes, but only up to 5% of the debt portfolio of the scheme
d) Yes, but only up to 10% of the debt portfolio of the scheme
90. What is the maximum limit for parking funds in short-term deposits with scheduled commercial banks for a mutual fund scheme?
a) 10% of the net assets of the scheme
b) 15% of the net assets of the scheme
c) 20% of the net assets of the scheme
d) 25% of the net assets of the scheme
91. Can a mutual fund scheme charge a management fee for investments parked in short-term deposits?
a) Yes, a management fee is applicable
b) No, no management fee is charged for such investments
c) The management fee depends on the bank’s interest rate
d) The management fee is waived for the first six months
92. According to SEBI regulations, can a scheme invest in short-term deposits of a bank that has invested in the same scheme?
a) Yes, there are no restrictions on such investments
b) No, a scheme cannot invest in short-term deposits of a bank invested in the scheme
c) Yes, but only up to 5% of the scheme’s net assets
d) Yes, but only up to 10% of the scheme’s net assets
93. What is the minimum percentage of corpus that open-ended debt funds must maintain in liquid assets?
a) 5%
b) 10%
c) 15%
d) 20%
94. Are liquid and overnight funds required to meet the minimum liquidity requirement mentioned in the previous question?
a) Yes, they have to maintain the same minimum liquidity as open-ended debt funds
b) No, they are exempt from the minimum liquidity requirement
c) Liquid funds have to maintain a higher minimum liquidity than open-ended debt funds
d) Overnight funds have to maintain a lower minimum liquidity than open-ended debt funds
95. Which of the following debt instruments can a mutual fund scheme invest in without any investment limit?
a) Corporate bonds
b) Commercial papers
c) Government Securities
d) Mortgage-backed securities
96. What is the maximum percentage of the debt portfolio that a mutual fund scheme can invest in unlisted non-convertible debentures?
a) 5%
b) 10%
c) 15%
d) 20%
97. Can a mutual fund scheme invest in short-term deposits of a bank that has invested in the same scheme?
a) Yes, there are no restrictions on such investments
b) No, a scheme cannot invest in short-term deposits of a bank invested in the scheme
c) Yes, but only up to 5% of the scheme’s net assets
d) Yes, but only up to 10% of the scheme’s net assets
98. What is the maximum limit for parking funds in short-term deposits with scheduled commercial banks for a mutual fund scheme, with the approval of the trustees?
a) 10% of the net assets of the scheme
b) 15% of the net assets of the scheme
c) 20% of the net assets of the scheme
d) 25% of the net assets of the scheme
99. Why do open-ended debt funds need to maintain a minimum of 10% of their corpus in liquid assets?
a) To maximize returns for investors
b) To meet regulatory requirements for liquidity management
c) To encourage investment in government securities
d) To minimize risks associated with debt investments
100. 10. Can a mutual fund scheme invest more than 10% of its NAV in the equity shares and equity-related instruments of a company?
a) Yes, there are no limitations
b) No, it is restricted to 10% of its NAV
Answers : NISM Mutual fund mock test papers with answers pdf free download
- d. SEBI
- c. To assist investors in making informed decisions
- b. KIM, SID and SAI
- c. Asset Management Company (AMC)
- c. Key Information Memorandum (KIM)
- c
- b. 1963
- d. 1992
- b
- c
- b. It charges a percentage of NAV for entry or exit.
- c. It is allocated for marketing and distribution expenses.
- c. Rs.10.10
- c. Both the loads and the performance track record.
- a. Rs.9.90
- a. The fund’s track record and service standards.
- c. It does not charge for entry or exit.
- b. No-load Funds do not charge for entry or exit
- c
- b
- c
- c
- b
- b
- d
- b
- b
- b
- b. Daily
- c. Association of Mutual Funds in India (AMFI)
- b. Half-yearly
- b. Percentage of expenses of total assets and other relevant information
- c. At the end of the year
- d. In financial newspapers and research agencies’ reports
- c
- b
- c
- c
- b
- c) three years
- b
- A) A process of allocating money across different asset categories to achieve an objective.
- A) An approach to maintain a target allocation across various asset categories.
- A) Financial goals, time horizon, and risk profile.
- A) An approach to dynamically change the allocation between the asset categories.
- C) To take advantage of opportunities presented by various markets at different points in time.
- A) Seasoned investors operating with a large investible surplus.
- A) Making modifications in the asset allocation to restore the target allocation.
- A) It restores the target asset allocation and helps achieve the investor’s objective.
- A) The portfolio should be rebalanced to restore the target allocation.
- A) It makes the investor buy low and sell high.
- A) Selling some part of the investment in asset A and buying some in asset B.
- c) Both a and b
- A) No, it is required for tactical asset allocation as well.
- b) The portfolio should be rebalanced to restore the target asset allocation.
- c) 30 business days
- b) Tactical asset allocation
- b) Based on the AM fixing price of the London Bullion Market Association (LBMA)
- b) 995.0 parts per thousand
- b) Based on the AM fixing price of the London Bullion Market Association (LBMA)
- d) 999.0 parts per thousand
- c) Securities and Exchange Board of India (SEBI)
- False
- b) US Dollars (USD)
- a) To ensure fair pricing for investors
- c) London Bullion Market Association (LBMA)
- True
- a) The ongoing facility to acquire new units
- b) Entry load
- a) Rs 11.00
- c) Sale Price is equal to NAV
- b) Exit load
- d) Rs. 10.89
- d) To ensure fair pricing for buying and selling units
- b) Entry loads are not permitted
- a) Exit loads are permitted
- b) To incentivize investors to hold their units longer
- b) SEBI
- c) It should be equal to the NAV
- b) No, all unitholders are charged the same exit load regardless of their subscription amount
- b) No, exit loads are not charged on bonus units and units allotted on reinvestment of dividends
- c) They are credited back to the scheme immediately
- b) They are paid directly by the AMC to the distributor
- c) They have no impact on the NAV per unit
- a) They increase the overall cost for the investor
- b) 10%
- a) Government Securities and treasury bills
- c) They must be rated not below investment grade
- b) No, mutual funds are prohibited from investing in unlisted debt instruments
- b) 15% of the net assets of the scheme
- b) No, no management fee is charged for such investments
- b) No, a scheme cannot invest in short-term deposits of a bank invested in the scheme
- b) 10%
- b) No, they are exempt from the minimum liquidity requirement
- c) Government Securities
- b) 10%
- b) No, a scheme cannot invest in short-term deposits of a bank invested in the scheme
- c) 20% of the net assets of the scheme
- b) To meet regulatory requirements for liquidity management
- b
Get NISM SERIES 5A CHAPTER WISE Question Bank with Answer Key
NISM mutual fund mock test papers with answers pdf free download Click Here