NISM-Series-19A: Alternative Investment Funds (Category I and II) Distributors Mock Tests

Examination Objectives

• Understand the fundamental aspects of alternative asset classes and the Alternative Investment Funds (AIFs) markets, specifically Category I and II, in India.
• Gain detailed knowledge of the following:
  • General concepts commonly found in the AIF industry.
  • The structure of AIFs, their risk-return relationships, investment processes, governance aspects, and strategies for monitoring and exit.
  • The significance of fund due diligence, legal documentation, and negotiation skills, as well as how investors assess risk and return.
  • Valuation processes and methodologies employed by AIFs for their investee companies.
  • Various taxation aspects relevant to both the fund and its investors.
  • The role and conduct expected of distributors in serving investors.
  • Backend operations, documentation requirements, and reporting procedures.
• Comprehend the regulatory environment governing Category I and II AIFs in India.

Assessment Structure

• It comprises 80 multiple-choice questions, with each question carrying 1 mark, totalling 80 marks.
• There are 5 case-based questions, with each case containing 4 questions, and each question carrying 1 mark, totalling 20 marks (5 * 4 * 1 = 20).
• The total marks for the examination are 100.
• Candidates are allotted 2 hours to complete the examination.
• A passing score of 60 percent is required.
• There will be negative marking, deducting 10 percent of the marks assigned to a question for incorrect answers.
• Candidates should be proficient in both Microsoft Excel or OpenOffice Calc, as test centre workstations are equipped with either software for numerical computations.

Syllabus Outline with Weights