The exam that gives you an AMFI Registration Number — and lets you start selling mutual funds across India. Structured training across all 12 chapters of the latest NISM syllabus (March 2026 workbook), so you clear it on the first attempt and begin earning.
NISM exam fee of ₹1,500 is separate — paid directly to NISM when you book your exam slot.
The SEBI-mandated exam everyone selling or distributing mutual funds in India must clear.
It is the SEBI-mandated benchmark that everyone selling or distributing mutual funds in India must clear. Passing it is a regulatory requirement to obtain an ARN and operate as a mutual fund distributor — it confirms you understand the product you're recommending and the rules that govern how you recommend it. The syllabus covers the complete working knowledge a distributor needs: what a mutual fund is and how it is structured and regulated, how schemes are distributed, how NAV and pricing work, how investments are taxed, how investor services and transactions are handled, and how to evaluate schemes and recommend the right one for each investor.
That's the pace our learners follow. One focused hour a day for 15 days covers the syllabus, with mock-test revision before the exam.
NISM V-A is open to anyone entering mutual fund distribution. Most of our learners fit one of these profiles.
Anyone who wants an ARN and plans to start selling mutual funds as an independent distributor.
Advisors adding mutual funds to an existing practice built on insurance or other products.
Sales and distribution staff at asset managers and distribution houses who need the certification for their role.
Teams who sell or refer mutual funds to walk-in and existing customers.
Those entering the industry who want a recognised first credential on the resume.
Anyone building a flexible, commission-based distribution practice from scratch.
Mutual fund distribution is one of the few finance careers you can start without a large investment, an office or a degree.
Start without an office, heavy setup cost or a degree — and grow at your own pace as India's investor base expands.
Distributors earn trail commission on the assets they bring in — a book built patiently keeps paying long after the initial sale.
No minimum degree, no heavy setup cost. One certification and an ARN are enough to begin as an independent distributor.
Work full-time, part-time or alongside an existing practice in insurance or advisory — the business scales to the effort you put in.
A complete training system — plain-language lectures, worked numericals, chapter tests with explanations, and unlimited mock retakes.
Plain-language concept explanations across all 12 chapters of the latest NISM V-A syllabus (~10 hours of video). Built for first-timers, not finance graduates.
NAV, expense ratio, loads, returns and taxation worked step by step — the topics where first-timers stumble most, practised in the exam format.
Questions with answers and full explanations after every chapter — so recognition of exam-pattern questions becomes second nature.
Timed practice (100 questions , 120 minutes) under real exam conditions. No capping — retake as many times as you need until the paper feels familiar.
Learn on any device. Pick up where you left off across phone, laptop or tablet — ideal for the 1-hour-a-day study rhythm.
Reach the AAFM India team by email for content, billing or technical questions during your preparation.
50% pass mark and no negative marking — that's exactly the trap. Here's where first-timers lose marks, and how this training addresses each.
| Where Candidates Slip | How Our Training Fixes It |
|---|---|
| Reading the NISM workbook without practising questions | Exam-format practice throughout — chapter quizzes with answers and explanations after every chapter, plus 3 full-length mock tests. |
| Skipping or rushing the numerical chapters | Step-by-step worked calculations until NAV, loads, returns and taxation feel routine. |
| No plan across 12 chapters, then cramming | A built sequence of 46 lessons that paces the whole syllabus so nothing gets left for the last night. |
| Never sitting a full timed mock | Timed practice with unlimited retakes — 100 questions in 120 minutes feels familiar on exam day. |
One clear rule in your favour: No negative marking on V-A. Never leave a question blank. Our training makes sure you have the knowledge to make every attempt count.
Most first-time candidates aren't from a finance background. We start from the assumption you're new — every concept in plain English with an everyday example, before the technical term is attached.
Coverage follows the official NISM Series V-A workbook — every chapter taught in the order a distributor learns it.
Investor goals, asset classes, investment risk, risk profiling and asset allocation
Weightage 8%What a mutual fund is, scheme classification, growth of the industry in India
Weightage 6%Sponsor, trustee and AMC structure — how the pieces fit together
Weightage 4%SEBI regulation, the role of AMFI, rules that govern distribution
Weightage 10%SID, SAI and KIM — what they contain and how to use them
Weightage 10%Types of distributors, modes of distribution, commissions, SEBI disclosure, due diligence
Weightage 6%Fair valuation, NAV computation, loads, accounting behind unit pricing
Weightage 8%How mutual fund investments are taxed across scheme types and investor categories
Weightage 4%KYC, application processing, systematic transactions, cut-off times, transaction lifecycle
Weightage 15% — HighRisk factors, drivers of return, how scheme performance is measured
Weightage 7%Benchmarks, performance measures, how to read a scheme's track record
Weightage 7%Selecting schemes by investor need, risk profile and strategy; do's and don'ts of recommendation
Weightage 15% — HighPlus <strong>3 full-length mock tests</strong> mirroring the real exam (100 questions · 120 min · unlimited retakes · no capping).
A clear sequence from payment to the day you start distributing mutual funds.
Pay securely; learning portal opens within 24 hours.
Built sequence from investment landscape to scheme selection.
Chapter quizzes and timed mocks until the paper feels familiar.
Book your exam slot and pay the NISM fee directly.
100 questions in 120 minutes, 50% to pass, no negative marking.
Use your NISM certificate to get your AMFI Registration Number.
Conducted by NISM at designated test centres across India.
PAN must be updated and verified in your NISM candidate profile before registration.
Industry veterans with combined experience of 70+ years across wealth management, mutual funds and Indian financial markets.
25+ years in wealth management and estate planning. Author of 26 books on finance; has led AAFM India to train 45,000+ individuals including 30,000+ wealth managers.
Pioneer and thought leader in investor education, financial capability and professional development, with over three decades of deep industry experience in mutual funds and wealth management. A Harvard Business School and IIM Calcutta alumnus, he has played a significant role in shaping India's investor education ecosystem. Author of The Retirement Planning Manifesto.
25+ years across Mutual Funds, PMS, AIF, wealth management and insurance. Has trained 15,000+ professionals in the NISM regulatory curriculum.
Financial markets professional, trader and educator with 20+ years across Indian and global markets — Equities, Derivatives, Technical Analysis, Algorithmic Trading, Crypto Markets and Risk Management.
A side-by-side of what you actually get — and why our training is built for first-timers, not finance graduates.
| Feature | AAFM India | Generic Test-Series Portals |
|---|---|---|
| Recorded video lectures (all chapters) | ✓ Yes — 46 lessons | ✗ Usually not |
| Chapter quizzes with answers & explanations | ✓ Yes | ✓ Sometimes |
| Full-length mock tests | ✓ 3 full-length mocks | ✓ 1–2 mocks |
| Mock test retakes | ✓ Unlimited · no capping | ✗ Capped at 10–15 attempts |
| Step-by-step worked numericals | ✓ Yes | ✗ Rare |
| Access validity | ✓ 12 months | ✗ 15 days |
| One-time payment, no subscription | ✓ ₹999 one-time | ✗ Subscription model |
| Backed by | AAFM India is the India chapter of the American Academy of Financial Management (AAFM®) — a global body with 30+ years worldwide and 15+ years in India. AAFM India is an accredited NISM CPE provider. | ~ Independent portal |
| Note: NISM Series V-A itself is a SEBI-mandated certification — the certificate is awarded by NISM after you pass their exam, not by AAFM India. AAFM India does not issue any certificate for this training. | ||
Quick answers to what most learners ask before they start.
It is a SEBI-mandated certification conducted by NISM for anyone who wants to sell or distribute mutual funds in India. Clearing it confirms you understand mutual fund products, distribution, taxation and the rules that govern how you advise investors — and it is the qualification AMFI requires before issuing you an ARN.
Yes. AMFI requires a valid NISM V-A certificate before issuing you an ARN (AMFI Registration Number). The certificate is valid for 3 years and is renewable.
100 multiple-choice questions of 1 mark each, for a total of 100 marks, completed in 120 minutes at an NISM examination centre. It is a computer-based test available in English and Hindi.
No. With no negative marking, the rule is simple — never leave a question blank.
Most candidates are ready in two to four weeks of steady study, less if you already work in financial services. The variable is usually the numerical chapters — budget real time for those rather than assuming they'll click on the first read.
No minimum qualification is required to take NISM V-A — it is open to anyone entering mutual fund distribution. Basic comfort with numbers and a calculator helps.
The NISM workbook is comprehensive but reads like a reference manual, not a training course. Our training converts it into a guided study path with plain-language explanations, worked numericals, chapter quizzes with explanations, and timed mock tests with unlimited retakes.
We don't make guarantees on a SEBI-administered external exam — anyone who does is being careless. What we do say: follow the 1-hour-a-day-for-15-days plan, work through all 46 lessons, attempt mocks under timed conditions, and you'll be well prepared.
The NISM Series V-A certificate is issued by NISM (a SEBI-regulated body) after you pass the exam at their test centres. AAFM India issues a Certificate of Completion for this training program — it is separate from the NISM certificate and is not a substitute for it.
AAFM India is an accredited NISM CPE (Continuing Professional Education) provider. We are the India chapter of AAFM® (American Academy of Financial Management), a global body with 30+ years worldwide and 15+ years in India.
All 12 chapters of the latest NISM V-A syllabus (March 2026 workbook), 46 recorded lessons, chapter quizzes with answers and explanations, 3 full-length mock tests with unlimited retakes (no capping), mobile and desktop access, and dedicated learning support.
The AAFM India training fee is ₹999 + 18% GST (₹1,178.82 total). The NISM examination fee is ₹1,500 + payment gateway charges, paid directly to NISM on their portal when you book your exam slot — separate from the training fee.
The NISM V-A certificate is valid for 3 years. It is renewed through a NISM CPE programme or by re-taking the exam before it expires.
NISM V-A is the one exam between you and your ARN. Clear it the first time with training built for first-timers. 1 hour a day for 15 days. ₹999 + GST.
Enroll Now — ₹999 + GST12-month access · unlimited mocksSecure payment via Razorpay · Instant access within 24 hours
