Considering mutual fund distribution for building a second income, but not sure where to start? Becoming a certified Mutual Fund Distributor starts with clearing the NISM Series V-A Mutual Fund Distributors Exam, the first step toward building a successful career in mutual funds. 

While the exam isn’t very difficult, many first-time candidates struggle due to a lack of a preparation strategy. Here are some practical, tried-and-tested tips to help you crack the NISM VA exam on your very first attempt.

1. What is the NISM VA Exam?

THE NISM VA exam is a mandatory certification for anyone to become a mutual fund distributor in India. It is conducted by NISM (National Institute of Securities Markets). Upon passing this exam, aspiring MFDs need to apply for ARN (AMFI Registration Number), which makes them eligible to distribute mutual funds. 

The exam requires about 2 weeks to prepare at a moderate pace. It covers basics such as:

• The basics of investments and mutual funds, their structure, types, features, etc
• Regulatory requirements governing mutual funds
• Taxation, legalities, valuation, and accounting aspects of mutual funds
• Evaluation of mutual funds & recommending suitable schemes to investors
• Concept and application of financial planning in mutual fund distribution

Before you start studying, familiarize yourself with how the exam works. The exam is objective type with 100 questions and a minimum passing score of 50% with no negative marking.

• Total Marks: 100
• Number of Questions: 100 (1 mark each)
• Passing Marks: 50% (i.e., 50 marks)
• Duration: 2 hours
• Weightage: Equal for each question
• Negative Marking: Nil
• Fee: Rs 1500

2. Get the Latest NISM Study Material

The NISM syllabus is concise and does not require any other preparatory material other than the official study material provided by NISM. It is free to download from the NISM website. The syllabus is updated periodically to reflect SEBI regulations and current mutual fund practices. There is no need to study from any other guide, pdfs or individual notes; the NISM handbook is sufficient to clear the exam.

3. Focus on Conceptual Understanding

As is the case with any exam, it is important to remember that the NISM course is to build the foundation for mutual fund mastery for MFDs. It covers core concepts and fundamentals that will come in handy lifelong for MFDs to interact with clients and present investment solutions. 

Therefore, it is important to focus on understanding the concepts instead of memorizing, for long term learning and application. The exam pattern is designed to test the learner’s application of knowledge, not rote memorisation.

4. Practice with Mock Tests

Mock tests are very helpful for any exam. Taking mock tests regularly helps you:

• Get comfortable with the exam pattern 
• Improve time management in the exam
• Identify weak areas and work on them

You can find free and paid NISM VA mock tests online or practice through AssetPlus Academy’s practice tests, which replicate the real exam pattern.

5. Join a Guided Training Program‍

While it is not necessary to take up any training for NISM VA, it is advisable to attend a training program to save time and learn with tried and tested techniques. There are many online and offline training programs in the industry.

AssetPlus Academy runs a dedicated industry-best flagship NISM VA training program for MFD aspirants. Training programs help aspirants save time and clear the exam on the first attempt with guidance from expert trainers who explain the concepts in detail, clear doubts, review progress, and help cement concepts with mock tests and practice questions.

Join free 12-day live NISM training with AssetPlus Academy and get certified within two weeks. Academy also conducts live 1-day training workshops across major cities from time to time. For those who want to learn at their own pace and convenience, there is self-study course delivered by experts. The best part is, these programs are free of cost, led by industry experts, and guide aspirants end-to-end, right from NISM & exam registration to ARN process and post-certification path for MFD career success.

‍

6. Revise Key Formulas and Ratios

Certain topics like NAV calculation, returns, and risk ratios involve simple formulas. Make a one-page formula sheet and revise it the day before the exam. 

Make your own notes and highlight important points to revise before the exam.

AssetPlus Academy provides one-pagers for every NISM module covering key definitions, formulas, and concepts for ready reference and revision.

7. Don’t Ignore Regulatory and Ethics Sections

Many candidates lose marks here because they skip it, assuming it’s ‘theoretical.’
In reality, questions from SEBI guidelines, AMFI Code of Conduct, and the regulatory framework are direct and scoring, so read them carefully.

AssetPlus Academy’s 12-day expert-led training program covers every module in 60-90 minute session so that equal attention is paid to every chapter and concept. 

8. Use the Last Week for Smart Revision

In the final week:

• Go through summaries and notes instead of re-reading the whole book
• Attempt at least 3–5 full mock tests
• Focus on topics you find difficult, revise core concepts and formulas
  
  

9. Manage Time Smartly in the Exam

• Attempt easy and direct questions first
• Don’t spend too long on one question
• Mark doubtful ones for review and revisit them later
• Remember, since there is no negative marking, attempt as many questions as possible
• Also, prepare for logistics before the exam, keep the required documents handy for exam, arrive early, and stay calm.
  
  

10. Stay Calm and Confident

The NISM VA exam is meant to test your readiness as a distributor, not your academic ability.
With the right preparation plan, anyone, even without a finance background, can clear it in one go.

If you prefer structured learning, enroll in a 1-day or 2-day NISM VA Masterclass with AssetPlus Academy.
You’ll get:

• Expert-led conceptual training
• Real exam practice sessions
• Step-by-step guidance for NISM registration & exam booking
  
  

Passing the NISM VA exam is your gateway to becoming a certified Mutual Fund Distributor and starting your journey toward financial independence.
Don’t delay, prepare smart, take the test, and kickstart your MFD career with AssetPlus  today.

‍