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NISM Series V: Mutual Fund certification framework

Tue, 19 May 2026 00:00:00 +0000

NISM Series V is the family of certifications issued by the National Institute of Securities Markets (NISM), under SEBI’s framework for capital-markets education, covering mutual fund distribution, foundation knowledge, and advisory services. The Series V framework distinguishes three levels of certification, each scoped to a specific role in the Indian mutual fund ecosystem:

Series V-A: Mutual Fund Distributors , the qualifying examination for ARN -holders.
Series V-B: Mutual Fund Foundation , foundation course for entry-level professionals.
Series V-C: Mutual Fund Distributors (Level 2) , advanced certification for senior distributors and aspirational adviser-level practitioners.

For aspiring mutual fund distributors and advisers in India, the NISM Series V framework provides the SEBI-recognised credentialling path, distinct from the SEBI Registered Investment Adviser (RIA) qualification path which involves Series X-A and X-B.

NISM Series V-A: Mutual Fund Distributors Certification Examination

Tue, 12 May 2026 00:00:00 +0000

The NISM Series V-A: Mutual Fund Distributors Certification Examination is the mandatory professional qualification that any individual in India must pass before being eligible to apply for an AMFI Registration Number (ARN) and distribute mutual fund units to investors. The examination is administered by the National Institute of Securities Markets (NISM), a public trust established under the aegis of SEBI in 2006. It is one of the most widely taken financial services examinations in India, with several hundred thousand active certificate holders at any given time.

NISM Series V-B: Mutual Fund Foundation Certification Examination

Tue, 12 May 2026 00:00:00 +0000

NISM Series V-B: Mutual Fund Foundation Certification Examination is a foundational-level competency test administered by the National Institute of Securities Markets (NISM), an institution established by SEBI . The examination is positioned as a lower-barrier entry point into the NISM V series for individuals who wish to demonstrate basic familiarity with the Indian mutual fund industry but are not yet ready for, or do not need, the full NISM Series V-A Mutual Fund Distributors certification.