NISM Series V-B Mock Test: Mutual Fund Foundation
Up to 30 full-length mock tests of 50 questions each, built on the official syllabus, with an explanation for every answer.
About the NISM Series V-B exam
NISM Series V-B is a foundation-level mutual fund exam covering the basics of mutual funds, simple products, investor services and the regulatory environment — with a shorter paper than V-A.
Who should take it: New-cadre mutual fund distributors who sell a limited set of simple schemes, and beginners who want an entry-level mutual fund certification.
NISM Series V-B exam pattern
| Questions | 50 multiple-choice questions |
|---|---|
| Total marks | 50 |
| Duration | 60 minutes |
| Passing score | 50% |
| Negative marking | No negative marking |
Indicative pattern. Exam bodies revise patterns — confirm the details in the latest official notification before your exam.
Syllabus covered in our NISM Series V-B question bank
Our 50-question bank for NISM Series V-B covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Investment Landscape5 practice questions
- Concept and Role of a Mutual Fund6 practice questions
- Legal Structure of Mutual Funds5 practice questions
- Mutual Fund Products for New Cadre Distributors7 practice questions
- Scheme Related Information4 practice questions
- Fund Distribution and Channel Management5 practice questions
- Performance of Mutual Funds5 practice questions
- Taxation3 practice questions
- Investor Services6 practice questions
- Legal and Regulatory Environment4 practice questions
Free NISM Series V-B sample questions
Try five questions from our bank. Each mock test gives you 50 like these, with your score, chapter-wise analysis and explanations at the end.
Which best describes the 'liquidity' of an investment?
- The highest return it can earn
- How quickly it can be converted into cash without significant loss of value
- Whether the capital is guaranteed
- How lightly it is taxed
Show answer & explanation
Answer: B. How quickly it can be converted into cash without significant loss of value
Liquidity is about ease and speed of conversion to cash at a fair value.
Which is a key benefit a mutual fund offers small investors?
- Professional management and diversification even with small amounts
- Guaranteed returns
- Freedom from all market risk
- A fixed dividend every year
Show answer & explanation
Answer: A. Professional management and diversification even with small amounts
Pooling lets small investors access a diversified, professionally managed portfolio; returns are not guaranteed.
The entity that establishes a mutual fund, similar to the promoter of a company, is the
- Trustee
- Custodian
- Sponsor
- Registrar and Transfer Agent
Show answer & explanation
Answer: C. Sponsor
The sponsor sets up the mutual fund trust and the AMC and must meet SEBI's eligibility criteria.
An index fund aims to
- Beat the index through active stock picking
- Guarantee the index return
- Replicate the performance of its benchmark index
- Invest only in debt securities
Show answer & explanation
Answer: C. Replicate the performance of its benchmark index
Index funds passively hold the index constituents in the same weights, aiming to match the index before costs.
Where would an investor find a particular scheme's investment objective, asset allocation pattern and risk factors?
- Statement of Additional Information
- Consolidated Account Statement
- AMC's annual report
- Scheme Information Document
Show answer & explanation
Answer: D. Scheme Information Document
The SID is the scheme-specific offer document describing its objective, asset allocation, risks and costs.
NISM Series V-B mock test plans
Every plan unlocks one full-length mock test per day of the plan. Prices include GST.
| Plan | Mock tests | Questions | Price |
|---|---|---|---|
| 10 Days | 10 mock tests | 500 questions | ₹199 incl. GST |
| 15 Days | 15 mock tests | 750 questions | ₹279 incl. GST |
| 20 Days Popular | 20 mock tests | 1,000 questions | ₹349 incl. GST |
| 30 Days Best value | 30 mock tests | 1,500 questions | ₹449 incl. GST |
Official study material
Links open the official website. We do not host or alter official material.
NISM Series V-B mock test FAQs
How many questions are there in the NISM Series V-B exam?
The NISM Series V-B paper has 50 multiple-choice questions for 50 marks, to be completed in 60 minutes. This is the indicative pattern — always confirm it in the latest official notification.
Is there negative marking in NISM Series V-B?
No. There is no negative marking, so attempt every question. Our mock tests apply the same rule.
What is the pass mark for NISM Series V-B?
You need 50% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series V-B mock tests do I get?
One full-length mock test is unlocked for each day of your plan: 10, 15, 20 or 30 mock tests on the 10 Days, 15 Days, 20 Days or 30 Days plans. You can retake any unlocked test while your plan is active.
Are these the actual exam questions?
No. Every question is an original practice question written to match the official syllabus and the exam's style. Reproducing real exam questions is not permitted, and we do not do it.
Where can I get the official NISM Series V-B study material?
NISM provides the latest workbook free of cost on its official portal after a short registration. The link is in the Official study material section on this page.