NISM Series V-B: Mutual Fund Foundation — Practice Questions & Mock Tests

369 practice questions covering the full 10-unit syllabus, a detailed explanation on every question, 369 memory hooks, and 3 full-length real-feel timed mock exams. The pass mark is 50% — we help you get there.

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Practice by topic

Investment Landscape
51 questions · 3 marks
Savings vs investment · Risk, return and inflation
Concept & Role of Mutual Funds
50 questions · 6 marks
Pooling & professional management · Open-ended vs close-ended
Legal Structure
24 questions · 4 marks
Sponsor, trustee and AMC · Custodian and RTA
Products for the New Cadre
23 questions · 3 marks
Simple and performing schemes · Diversified equity and index schemes
Scheme Related Information
36 questions · 6 marks
SID and SAI · Key Information Memorandum
Distribution & Channels
39 questions · 5 marks
ARN and EUIN · Registration of the new cadre
Performance of Mutual Funds
41 questions · 6 marks
NAV and returns · CAGR and annualisation
Taxation
26 questions · 3 marks
Equity vs non-equity holding periods · Short- and long-term capital gains
Investor Services
65 questions · 10 marks
KYC and the application form · Cut-off times and applicable NAV
Legal & Regulatory
24 questions · 4 marks
SEBI Mutual Fund Regulations · AMFI code of conduct

Question sets

Practice — 12 sets, 219 questions with instant feedback →Real-feel exams — 3 full-length timed papers, scored to the 50% pass mark →
Candidate preparing for the NISM Series V-B: Mutual Fund Foundation exam

About the NISM V-B exam

The NISM Series V-B: Mutual Fund Foundation Certification Examination is for the new cadre of mutual fund distributors — postal agents, retired officials, SHG members and others who sell simple, performing schemes. It covers the basics of mutual funds, their structure, the schemes this cadre may distribute, taxation, investor services and the rules that govern distribution.

The exam has 50 multiple-choice questions of 1 mark each, a duration of 2 hours, and a passing score of 50%. There is no negative marking, so attempt every question. It is the shortest of the mutual fund certifications and the certificate is valid for 3 years.

📘 Download the official NISM Series V-B: Mutual Fund Foundation workbook (PDF, March 2026) — the full 214-page syllabus material, free.

Other certifications on ScoreSetu

NISM Series XV: Research Analyst →NISM Series XII: Securities Markets Foundation →NISM Series V-A: Mutual Fund Distributors →NISM Series VIII: Equity Derivatives →NISM Series V-C: Mutual Fund Distributors (Level 2) →NISM Series V-D: Mutual Fund – Specialized Investment Fund Distributors →