NISM-Series-19D: Category I and II Alternative Investment Fund Managers Mock Tests
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Attempt full-length exam simulation with 100 questions (standard MCQs).
Take Final TestExamination Objectives
- Gain a brief understanding of the investment landscape and various types of investments, including traditional and alternative asset classes.
- Develop a detailed understanding of Alternative Investment Funds (AIFs) management, covering:
- The suitability of AIF products and their role in portfolio diversification.
- The AIF ecosystem and the functions of its various service providers.
- The roles of AIF Managers and their key management teams in performing fund management duties, fund governance, and managing conflicts of interest.
- Fund structures, fee structures, performance measurement techniques and their interpretations, and the importance of performance benchmarking.
- Various investment strategies, investment due diligence processes, and the governance structure in AIFs as followed by investors.
- The Code of Conduct for AIFs, AIF Managers, and their key management teams.
- The legal documentation involved and the significance of negotiations among stakeholders in the AIF domain.
- Valuation techniques used, the role of third-party registered valuers, and fund monitoring and reporting.
- The various exit options available to AIFs.
- Taxation aspects and related regulations for Category I and II AIFs in India.
- Understand the regulatory environment in which AIFs operate in India, including regulations such as SEBI (AIF) Regulations, FEMA, PMLA, SEBI (PIT) Regulations, and SEBI (PFUTP) Regulations.
Assessment Structure
- It consists of 60 multiple-choice questions, each worth 1 mark, contributing a total of 60 marks.
- There are 4 case-based questions, with each case comprising 5 sub-questions, and each sub-question is worth 2 marks, totaling 40 marks (4 cases * 5 questions/case * 2 marks/question).
- The total duration for the examination is 2 hours.
- Candidates must achieve a minimum score of 60% (60 marks out of 100) to pass the examination.
- A negative marking of 25% of the marks assigned to a question will be applied for incorrect answers.
- Candidates should be proficient in using Microsoft Excel or OpenOffice Calc for numerical computations, as these software programs are available at the test centres.
- The sample questions provided in the workbook are for reference only, and the difficulty level in the actual examination may vary.
Syllabus Outline with Weights
| Chapter No | Chapter Name | Weightage (marks) |
|---|---|---|
| 1 | Investments Landscape | 2 |
| 2 | Types of Investments | Not available |
| 3 | Alternative Investment Funds in India and its Suitability | 2 |
| 4 | Alternative Investment Funds Ecosystem | 5 |
| 5 | Alternative Investment Fund Structuring | 10 |
| 6 | Fee Structure of AIFs | 10 |
| 7 | Fund Performance and Benchmarking of AIFs | 10 |
| 8 | Legal Documents and Negotiations | 6 |
| 9 | Investment Strategies | 10 |
| 10 | Investment Process and Governance of Funds | 10 |
| 11 | Valuation | 10 |
| 12 | Fund Monitoring, Reporting and Exit | 10 |
| 13 | Taxation | 5 |
| 14 | Regulatory Framework | 10 |
| Total Marks | 100 |
Note: As per the source, no specific marks are allocated for Chapter 2.
Study Materials
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NISM-Series-19D: Category I and II Alternative Investment Fund Managers Workbook
DownloadExam Instructions
- Each test contains multiple-choice questions.
- Total 100 questions per test.
- Navigate freely between questions.
- Submit test to view your results.
- Good luck!
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