professionals trained
NISM Series V-D / SIF distributor certification
NISM Series V-D Exam Preparation: Classes, Study Material & Mock Tests
Your complete preparation hub for the Mutual Fund – Specialized Investment Fund Distributors Certification Examination: syllabus, classes, study material and mocks in one path.
Our training results
passed the exam on their first attempt
average exam score
Academy-wide training results · Updated October 2026.
Understand the certification
What is the NISM Series V-D exam?
NISM Series V-D is the Mutual Fund – Specialized Investment Fund Distributors Certification Examination. It assesses the knowledge needed to explain and distribute mutual funds and SIF products, including investor suitability, fund structures, regulations and derivatives.
Who is it for?
Distributors, agents, brokers, authorised persons and others working, or planning to work, in the sale or distribution of mutual funds and Specialized Investment Funds.
Exam format
150 multiple-choice questions, worth one mark each, in 180 minutes. Preparation covers mutual funds, equity derivatives and interest-rate derivatives.
Passing criteria
Score at least 60% — 90 out of 150 marks. Each incorrect answer deducts 10% of the marks assigned to a question.
Registration & certificate
Register through NISM and choose your test centre and slot. Provide your PAN details for certificate issuance. The certificate lasts three years; renew by passing the exam again before expiry.
What you need to know
NISM V-D syllabus: three exam modules, 22 chapters
See the breadth of the exam before selecting your preparation route—then work through the chapters in a connected sequence.
Chapters 1-12
Mutual Funds
Investor needs, mutual fund structure, regulation, distribution, transactions, tax, performance and scheme selection.
68 questions in the exam →Chapters 13-17
Equity Derivatives
Derivative foundations, indices, futures, options and equity hedging, trading and arbitrage strategies.
52 questions in the exam →Chapters 18-22
Interest Rates
Fixed-income mathematics, IRD products, exchange-traded futures and options, hedging and arbitrage.
30 questions in the exam →68 · Mutual Funds52 · Equity Derivatives30 · Interest Rates
What participants said
NISM V-D training reviews from our programmes.
Feedback from IDFC FIRST Bank, Bengaluru, Chennai, Coimbatore, Hyderabad and Rajahmundry participants, edited only for length and privacy.
IDFC FIRST Bank · Overall programme rating 4.7 / 5
From the classroom
Coimbatore V-D offline training
Thank you so much, Kiran, with immense gratitude! ❤️
We truly enjoyed every moment of your sessions. You delivered everything in such a simple, practical and relatable way that everyone could connect with it so easily. Your energy, humour and genuine effort made the sessions truly special.
And yes... we will never forget those two iconic words - “Ada Paavigalaa!” and “Aandavane!” 😀❤️
Thank you for investing your valuable time and energy in all of us. This is definitely not the end of a program, but the beginning of a beautiful journey and relationship.
We’ll definitely keep in touch, Kiran. And yes - we’re going to go and kill the exam! 💪
With lots of love, gratitude and confidence. ❤️
Coimbatore offline training participant
“I have passed the exam today. Thank you, Kiran and ICICI.”
“I passed the exam today. Thank you, Kiran ji, ICICI MF & the FACT TEAM.”
“I too passed the exam. Thanks to Kiran ji, ICICI MF and FACT 🙏”
“Passed the exam today. Thank you, Kiran ji and ICICI.”
“Kiran Dutta, thanks a lot for the SIF Academy training and mock test. I could clear the exam 🙏😊”
“I have passed the exam today. Thank you, Kiran ji. The mock test helped me a lot. Thanks to one and all. 🌷🌷🌷”
“I have also passed. Thank you very much, Kiran ji and Team FACT, along with ICICI Prudential AMC Coimbatore.”
“Kiran Sir, FACT EC Team & ICICI Prudential Team, 🙏 Thank you very much for your support and guidance. I passed the exam today. Thanks again 🙏”
“Good morning, Mr Kiran. I completed the exam and scored 89%. Thank you for your efforts.”
“Thank you, Kiran Dutta Sir. Cleared the exam 💐👍🏾”
“Completed the exam with 71%. Thanks for your support @SIF Prime Sir 🙏”
“Hello Sir, cleared the exam. Thank you so much for your guidance. Everything was Greek and Latin for me, but your session gave me the confidence to attempt the test. Always thankful to Kiran Sir and FACT 🙏”
“@Kiran Dutta, just saying ‘Thank you’ would not be enough for your guidance. You deserve much more than that 🙏🏻🫡”
“Thank you, Kiran Sir and Vignesh Sir. I cleared the exam ❤️🙇”
“Cleared the exam. Thank you, FACT and Kiran Sir.”
“Finally 👍🏼 Thank you, Kiran, for your time and effort ✨”
“Cleared, Kiran. Thanks!”
“CLEARED, dear Kiran Ji. Thanks for all your support and guidance. Very supportive. Thank you once again!”
“‘Kadavuley...’ Cleared the exam 🙏😀💐”
“Kiran meditated… ‘Kadavuley...’ And Kadavul opened his eyes—and Coimbatore MFDs cleared in large numbers. Thanks to Kiran Ji.”
“Finally, I cleared the exam! Thanks to Mr Kiran Sir, FACT and Mr Vignesh 🙏🔥”
“I just completed NISM Series V-D with a score of 70.1%. Although I did not attend the physical class, I studied the SIFPrime learning materials. Thank you, Srikanth sir, Kiran sir and all the friends who encouraged me. 🙏”
“I cleared the SIF exam today. A big thank you to Kiran sir and Srikanth sir!”
“Thank you, Kiran Dutta ji. Your training gave me confidence and helped me become a SIF distributor.”
“Exam passed—just completed it! All credit goes to Kiran sir and the FACT team. Thank you, Kiran sir, for your motivation and training.”
“I have just cleared my exam. Thank you, Kiran sir, for motivating us and preparing us with an exam-focused approach. I had an excellent experience. Thank you so much! 🙏”
“Exam cleared! Thanks to Kiran ji. 🙏”
“The local-language presentation made the preparation easier to follow. People left happy and ready to prepare for the exam.”
“Very knowledgeable session”
“The session was a source of motivation and confidence. Explaining the concepts in our local language made them easy to understand and remember.”
“Highly engaging and interactive learning experience”
“I successfully cleared my NISM Series V-D exam with 80% marks. The training and encouragement gave me the confidence to move forward.”
“Excellent explanation with proper examples”
“Complex concepts were simplified through practical examples.”
“The session was superb and very well explained. The way the concepts were broken down made them easy to understand and gave me a lot of confidence.”
“Every aspect was covered and explained in detail”
“The programme strongly enhanced certification and product knowledge.”
“The session made the big jargon simple. I registered for my exam straight after the training.”
“The key exam-focused chapters were covered in a well-structured way.”
“The practical examples made the concepts clear and memorable. The study material showed a genuine effort to help us clear the exam.”
“Worth spending time for this training”
“The content was informative, insightful and relevant to the real world.”
“After the session, I had the confidence to move my exam forward. The training gave me a clearer path to prepare.”
“Participants appreciated the subject-matter expertise and clarity.”
“I passed my SIF exam. Thank you for the guidance and motivation.”
“A meaningful initiative for upskilling and certification readiness.”
“The SIFPrime material and mock tests are very useful.”
“Participants considered the session a productive investment of their time.”
“Cleared the SIF exam with 77%. Thank you so much Kiran ji for your wonderful training support and Srikant Matrubai ji for your motivation.”
“I have cleared the NISM Series V-D. Thanks to Kiran ji for the support.”
“I am happy to inform you that I successfully completed Series V-D today within two hours. Thanks to Kiran ji and his team.”
“Happy to share that I cleared NISM Series V-D with 77%. My humble gratitude to Kiran, Srikanth Matrubai and ICICI AMC—the session helped greatly in understanding concepts and clearing doubts.”
“Kiran Dutta Sir, you were brilliant in simplifying the concepts, and I think that was the game-changer. Trainers often vanish once training is done, but you were there—and you are still here—motivating us day in and day out. Thank you, dil se.”
“A big thank you to Srikanth Matrubai Sir and Kiran Dutta. The session was very helpful, and I immediately decided to appear for the exam. The resources and mock tests on SIFPrime helped me clear NISM Series V-D with a good percentage.”
“The session, resources and SIFPrime mock tests nudged me to bring my exam forward from September to August—and I am glad I took that call. Grateful to Srikanth Matrubai Sir and Kiran Dutta for the support and motivation.”
“Happy to share that I cleared the SIF Series V-D exam and am just coming out of the exam hall. Thank you, Kiran Dutta, for the offline training and online platform—they truly helped. I also thank our mentor Srikanth Matrubai Sir for organising the training.”
“Cleared the SIF examination today! Thanks to Kiran Da and the entire SIFPrime team for all their valuable inputs and support.”
“Happy and grateful to have successfully cleared the NISM Series V-D examination. Heartfelt thanks to Kiran Da for his consistent guidance, encouragement and support, which built our confidence throughout the preparation. Special thanks to the group admin for creating this wonderful learning community.”
“Thank you, Kiran, for yesterday's session. It gave us the knowledge and confidence to clear the exam. Thanks again.”
“Thank you so much, Kiran Dutta Sir, for the wonderful knowledge-sharing session. What impressed me most was your down-to-earth nature and the way you made such a valuable subject simple and engaging. I am excited to clear the SIF exam soon, be part of this industry and contribute meaningfully. Grateful for the opportunity to learn from you, Sir.”
“Thanks, Mr. Kiran Dutta, for your session. It was a great learning experience.”
“Thank you for an excellent day filled with knowledge about SIF, exam-cracking techniques and confidence to pass the exam on the first attempt. As promised, all the participants showed great enthusiasm until the end. Our gratitude to Mr. Kiran Dutta would be to pass the Series V-D exam this September on our first attempt. Thank you very much, Sir.”
Showing 1–9 of 62 reviews
Participant names and phone numbers are withheld for privacy.
Choose your learning path
NISM V-D course options: online or classroom
Learn with a cohort
Most chosenOnline live classes
10-day NISM V-D online training · Starts October 26, November 2 or November 9 · Daily 7:30–8:30 PM IST · ₹2,999.
See online classes →Bring it to your city
Offline classes
Focused classroom training for branches, communities and MFD groups.
Plan city training →Why SIFPrime Academy
Built by SIF specialists. Focused on exam readiness.
Preparation combines syllabus coverage with the practical context distributors need as Specialized Investment Funds enter the market.
- Structured V-D syllabus and chapter sequence
- Study material, practice and full-length mocks in one place
- Live online and city-based classroom options
- Training support for teams, branches and professional groups
| Preparation | SIFPrime | Generic prep |
|---|---|---|
| SIF and distributor context | Included | Varies |
| Chapter-level learning path | Included | Varies |
| Online and offline support | Available | Rare |
| Mock-test preparation | ₹899 / 30 days | Varies |
Study resource
NISM Series V-D Exam Book (PDF)
Open the NISM study book for exam preparation, structured reading and revision alongside your Academy lessons and mock tests.
Everything you need to prepare
Study, practise, then test yourself.
2026 exam guide
Official pattern, fees, passing marks, syllabus and FAQs.
22 chapter guide
A mapped path through the full syllabus.
Practice sets
Chapter-level question practice and revision.
Mock exams
Full-length papers with official module weightage. ₹899 for 30 days of access.
Study notes
Concept-focused notes for quick review.
Preparation plan
A clear sequence from syllabus to mock test.
Training support
Get help choosing a class or organising a session.
Admissions now open
NISM V-D online classes: choose your 10-day cohort
Cohorts start October 26, November 2 or November 9, 2026. Each cohort meets every day for 10 consecutive days, including weekends, from 7:30–8:30 PM IST. Course fee: ₹2,999. We’ll confirm your chosen cohort and joining details.
Equity derivatives, interest rate derivatives, mutual funds and SIF themes — taught through concepts, worked examples and questions.
- October 26October 26–November 4, 2026 · 7:30–8:30 PM IST
- November 2November 2–11, 2026 · 7:30–8:30 PM IST
- November 9November 9–18, 2026 · 7:30–8:30 PM IST
Secure payment through Razorpay.
Explore the NISM V-D online training plan →Questions before you pay?
Send an enquiry and choose a start date if you have one. This form does not collect payment.
Free preview · Mutual Funds
Free NISM V-D practice questions
Choose an answer and get the result with an explanation immediately, one question at a time.
Question 1 of 6
In a Conservative Hybrid Fund, what is the prescribed equity allocation range?
Choose one answer above to check it and reveal the explanation.
Frequently asked questions
NISM Series V-D exam FAQs
How much do the mock tests cost?
Mock test access costs ₹899 for 30 days from payment verification and activation. Select Pay ₹899 on a mock test page to pay through Razorpay, then share your payment reference and Academy account email with the team for activation. Mock tests require paid access.
Is NISM Series V-D different from NISM Series XIII?
Yes. Series V-D is the Mutual Fund - Specialized Investment Fund Distributors Certification Examination. It has its own syllabus, chapter coverage and examination requirements.
How many questions are there in the NISM Series V-D exam?
The NISM Series V-D exam has 150 questions.
What is the passing score for NISM Series V-D?
The passing score is 60%, or 90 marks out of 150.
How long is the NISM Series V-D exam?
You have 180 minutes to complete the exam.
Does NISM Series V-D have negative marking?
Yes. Negative marking is 10% of the marks assigned to a question.
How many chapters are covered in the NISM Series V-D syllabus?
This preparation hub covers 22 chapters across 3 modules.
Can I clear NISM V-D in one attempt?
The Academy is designed to help you prepare systematically with chapters, practice and mock exams. Results always depend on each learner's preparation and exam performance.
Which study option is right for me?
Choose a live online class for cohort-led learning, or request an offline session for your branch, city or distributor group.
Market insight and strategy
Learn the exam. Keep up with the SIF market.
Need help preparing for NISM V-D?
Build your concepts with 10 live online classes, worked examples and revision. Choose October 26, November 2 or November 9, 2026, daily 7:30–8:30 PM IST. Course fee: ₹2,999.