NISM to conduct AMFI Certification for Mutual Fund Distributor w.e.f 1 June 2010

With effect from 1st Jun'10, certification program for mutual fund distributor will be managed by National Institute of Securities Markets (NISM). Hence, AMFI Mutual Fund Certification program will be discontinued.
Accordingly, test for AMFI Mutual Fund (Basic) Module and AMFI Mutual Fund
(Advisors) Module will not be conducted from June 1, 2010.

National Institute of Securities Markets (NISM) is a public trust, established by the Securities and Exchange Board of India (SEBI), the regulator for securities markets in India. NISM seeks to add to market quality through educational initiatives.

National Institute of Securities Markets (NISM) would be conducting Mutual Fund Distributors Certification Examination from June 1, 2010 onwards. The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be negative marking of 25% of the marks assigned to a question.

Registration for the examination can be done through NSE / BSE / MCX-SX.


  1. hi did you appeared for this test. was that a tough one. if so.. what precaution to take before the test..

  2. Visit my Site:

    1. Hello sir,
      Am working in a private concern as a HR.Since,we have vacancies for various banking positions, we need the databases of candidates with NISM and AFMI Certification.the work location would be Chennai,Bangalore and Mumbai.kindly contact me at this number.9840309540.
      E-mail id:
      kindly, let us know how to contact them.

  3. Hi Anonymous,

    I am already AMFI passed candidate. The exam I gave was online by registering to NSE website. The AMFI online exam is very easy if you have studied the workbook well and the important points from my blogs. All details about AMFI exam preparation are given in my blog here.

    All the Best

  4. I have completed AMFI Mutual Fund Beginners Module
    examination.Is it necessary to take up NISM Mutual Fund Distributor Certificate Exam to become a certified Mutual Fund Broker
    Please Clarify

  5. Hello Anonymous,

    Yes. It is mandatory to pass AMFI Advisor Module Course to become a Mutual Fund Broker.

  6. To Prepare for NISM Mutual Fund Distributor Examination,where can I get Practice Questions.Question Bank,Previous Year Question Papers and Mock Test dtails.Also How many days preparation required to take up for exam.
    I have already registered with BSEINDIA and not getting more options to enroll at Bangalore Centre Kindly clarify

  7. Hi Anonymous,

    Please read my post for Practice Question, Question Set etc.

    When you apply for the exam, you will get an option to choose your centre also. Please check again.

  8. Hello Mr Nilesh Panchal

    Thanks for extending your guidance/assistance for
    the candidates who are appearing for AMFI/NISM Certificate Examininations

    Please let me know those who have cleared/passed Mutual Fund Beginners Module will it be easy to take up Mutual Fund Distributors Certificate Exam
    and in particular which parts/chapters of NISM Work Book they should concentrate while studying for MF Distributors exam.
    Also please let me know where can we buy Practice Book NISM-SERIES-V-A MUTUAL FUND DISTRIBUTORS CERTIFICATION EXAMINATION
    published by RIFM for practice purposes before appearing for exam

    With Regards

  9. Hi Anonymous,

    This exam is not difficult, only thing is to have your understanding clear about the concept. From the 12 Chapters, Chapter No 6 is having some NAV calculations which are easy and comes in exam which will save your marks. So prepare on this.

    I am not aware of the Practice Book you named, I suggest buy the NISM Study Material when you register and read that. That is sufficient to pass the exam.

  10. Dear Nilesh:
    1.How can I send you an email.? 2.Who collects the Financial Advisor's Fees - the FA or the MF? 3.What about Sevice Tax ? 4. Is there a Tax Audit if the annual Fee Income exceeds Rs.60lakhs. 7. Then is there a TDS angle? 8. Where are the correct answers to the mock tests? 9.Finally,since you are a qualified enginner, do you find being a FA profitable ?
    Jamshed F. Mehta,

  11. hello...after clearing nism exam could i able to sell mf to bank,scheduled bank for their investment or any other exam to b passed.

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  22. AMFI Mutual Fund (Advisors) Exam has been discontinued from June 1, 2010. SEBI has replaced AMFI EXAM with NISM-Series-V-A: (5) Mutual Fund Distributors Certification Exam.
    This NISM MFD Certification is a mandatory requirement for all people engaged in sales & distribution of Mutual funds. Bank Employees & Financial Advisors who sell mutual funds have to pass this NISM Mutual Fund Distributors Exam. Take NISM Mutual Fund Distributors Certification Exam, for free demo model test visit:


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