Alternative Investment Fund Managers Certification

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NISM Series XIX-D: Alternative Investment Fund Managers Certification


  • Ace the NISM Series XIX-D: Alternative Investment Fund Managers Certification Exam with Ease!
    1. 600+ Exam-Focused Questions: Gain confidence with a vast question bank covering all key topics.
    2. 20+ Case Study-Based Questions: Sharpen your practical understanding with real-world scenarios.
    3. Aligned with the Latest NISM Syllabus: Stay updated with the most relevant and exam-focused content.
    4. 15-Days Access: Ample time to prepare and refine your understanding.
    5. 15 Test Attempts per Set: Practice extensively and track your progress.
    6. Affordable Pricing: Just Rs.599 (including GST) for comprehensive study resources.

Examination Overview - NISM Series XIX-D: Alternative Investment Fund Managers Certification


  • Exam Name: NISM Series XIX-D: Alternative Investment Fund Managers Certification
  • Purpose: This examination seeks to create a common minimum knowledge benchmark for Category I and II AIF Managers and its key investment team. The examination focuses to enhance the quality of fund management activities in the AIF space and enables a better understanding of features of AIF products, investment valuation norms, fund governance processes, fund performance measurements, taxation aspects and related regulations. The examination is focused on fund management aspects relating to Category I and II AIFs.

Examination Objectives


On successful completion of the examination, the candidate should:

Understand traditional vs. alternative investments

Evaluate AIF suitability for portfolios

Comprehend AIF roles, responsibilities, and governance

Analyze AIF structures, fees & performance metrics

Grasp legal, valuation, monitoring, and exit procedures

Know taxation & regulatory frameworks (SEBI, FEMA, PMLA, etc.)

For more details, please visit the official website of NISM.

Assessment Structure


Component Details
Format [60 questions of 1 mark each] + [4 cases (each case with 5 questions of 2 mark each)]
Total Questions 80
Total Marks 100
Passing Criteria 60% (i.e. 60 marks)
Exam Duration 2 Hours
Negative Marking 25% deduction per wrong answer

Chapter-wise Syllabus & Weightage


Chapters Topic Group Marks
1 Investments Landscape 2
2 Types of Investments 2
3 Alternative Investment Funds in India and its Suitability 2
4 Alternative Investment Funds Ecosystem 5
5 Alternative Investment Fund Structuring 10
6 Fee Structure of AIFs 10
7 Fund Performance and Benchmarking of AIFs 10
8 Legal Documents and Negotiations 6
9 Investment Strategies 10
10 Investment Process and Governance of Funds 10
11 Valuation 10
12 Fund Monitoring, Reporting and Exit 10
13 Taxation 5
14 Regulatory Framework 10
Total Marks 100

What We Offer


Don't just aim to pass - master the exam with powerful resources designed for real success:

600+ Exam-Focused Questions: Gain confidence with a vast question bank covering all key topics.

20+ Case Study-Based Questions: Sharpen your practical understanding with real-world scenarios.

Aligned with the Latest NISM Syllabus: Stay updated with the most relevant and exam-focused content.

15-Days Access: Ample time to prepare and refine your understanding.

15 Test Attempts per Set: Practice extensively and track your progress.

Affordable Pricing: Just Rs.599 (including GST) for comprehensive study resources.

Frequently Asked Questions - NISM Series XIX-D: Alternative Investment Fund Managers

Finding a high-quality NISM XIX-D Alternative Investment Fund Managers Mock Test is crucial for this advanced certification, especially given its case-study format. A reliable test must accurately reflect the exam's complexity. At nismexams.in, our package is specifically designed for this, featuring over 600+ practice questions and 20+ case study-based questions that mirror the real exam's structure and difficulty.

The NISM Series XIX-D exam is a comprehensive, 3-hour test with a total of 150 marks. The structure is a mix of:
1. 60 standard Multiple Choice Questions (MCQs).
2. [4 cases (each case with 5 questions of 2 mark each)] (distributed across several case studies). There is a 25% negative marking for each incorrect answer, and the passing score is 60% (a minimum of 90 marks).

Yes, trying a NISM XIX-D Demo Test is highly recommended, especially to get a feel for the case study questions which are a significant part of the exam. A good demo should give you a clear idea of how a scenario is presented and the analytical questions that follow. While our main offering at nismexams.in is a premium package, a demo helps you see the value you'll get from our full Alternative Investment Fund Managers Practice Test, particularly our extensive case study bank.

A strategic study plan must prioritize the topic groups with the highest weightage. For the NISM Series XIX-D exam, you must concentrate on:
1. Performance, Benchmarking & Governance (60 Marks)
2. Taxation & Regulations (35 Marks)
3. Legal Docs, Valuation & Exit (30 Marks)
4. AIF Ecosystem & Structuring (20 Marks)
Mastering these four areas is essential as they constitute the vast majority of the exam's marks.

A NISM XIX-D Mock Test is significantly different because of its heavy focus on case studies and its advanced syllabus covering the AIF ecosystem. Unlike more foundational exams, this test requires a platform that can accurately simulate reading a complex caselet and then answering multiple related questions. Our mock tests at nismexams.in are specifically designed to replicate this unique, high-stakes structure, which is something a generic Alternative Investment Fund Managers Model Test might overlook.

Relying solely on a free Alternative Investment Fund Managers Mock Test is extremely risky for this specialized certification. The complex case-study format and the depth of the syllabus require a structured preparation plan. Free resources are often not updated for the latest SEBI AIF regulations, may contain errors, and almost never include a sufficient number of high-quality case studies for practice.

Case studies are critical because they make up a significant portion of the exam (30 questions) and are designed to test your practical application of AIF management principles. They move beyond theory to see if you can analyze a fund's situation, understand its legal and regulatory implications, and make informed decisions. Your success in this exam is heavily dependent on your ability to perform well in this section, which is why our course includes 35+ specific case study-based questions.

To successfully pass the NISM Series XIX-D Certification Exam, you must score a minimum of 60%, which translates to 90 marks out of the total 150. Achieving this score requires a strong performance in both the MCQ and the case study sections, especially with the 25% negative marking.

You can find a complete Alternative Investment Fund Managers Model Test, including a rich bank of case studies, within the comprehensive preparation package at nismexams.in. Our platform is specifically designed to provide an authentic exam experience. Each NISM XIX-D Model Test is created by industry experts to accurately reflect the difficulty, question format, and topic distribution of the actual NISM exam.

The 25% negative marking means that for every question you get wrong, a quarter of the marks assigned to that question will be deducted. This makes random guessing a very poor strategy, especially on the case study questions. It is crucial to be confident in your answers. Practicing with our NISM XIX-D Practice Test helps you develop the accuracy needed to navigate this.

This certification is designed for professionals working as managers, key investment team members, and principal officers within an Alternative Investment Fund (AIF). It is for those who are directly involved in the fund governance, investment decision-making, and compliance aspects of managing an AIF in India.

This is a foundational concept in the syllabus. Traditional investments typically include publicly traded stocks, bonds, and cash. Alternative investments are a broader category that includes private equity, venture capital, hedge funds, real estate, and commodities. The NISM XIX-D exam focuses on the unique structures, risks, and regulations associated with managing these alternative investment funds.

Yes, absolutely. The topic group "Legal Docs, Valuation & Exit" carries a heavy weightage of 30 marks. This section covers critical legal documents like the Private Placement Memorandum (PPM) and the fund's contribution agreement. A deep understanding of the legal and operational framework is essential for any AIF manager.

This topic group has the highest weightage at 60 marks because it forms the core of an AIF manager's responsibilities to their investors. It covers how to measure a fund's performance (e.g., IRR, TVPI), how to compare it against relevant benchmarks, and the principles of good corporate governance that ensure the fund is managed ethically and transparently.

Our package is designed for thorough practice. We offer 15 test attempts per set, which allows you to retry the tests multiple times. This repetition is key to identifying your weak areas, learning from your mistakes, and tracking your improvement, ensuring you are fully confident on exam day.

Yes, absolutely. Our content is always aligned with the latest NISM syllabus. We understand that regulations in the AIF space are constantly evolving, so we ensure our question bank and mock tests reflect the current curriculum, including the changes effective from March 28, 2025, so you are studying the most relevant information.

After you successfully pass the exam, the NISM Series XIX-D: Alternative Investment Fund Managers Certification is valid for a period of three years. To maintain your certification, you will need to either pass the exam again before expiry or complete a Continuing Professional Education (CPE) program as specified by NISM.

Yes, our NISM XIX-D Practice Test gives significant importance to the "Taxation & Regulations" topic group, which carries a heavy weightage of 35 marks. Our question bank includes practical questions on the complex taxation structures applicable to different categories of AIFs and their investors, as well as regulations under SEBI, FEMA, and PMLA.

An Alternative Investment Fund Managers Demo Test is a short, free sample designed to give you a preview of our platform, especially how we handle the case studies. In contrast, a full mock test is a complete 2-hour, 100-mark simulation of the actual exam. A demo is for a quick look, but only the full mock tests can properly prepare you for the endurance and complexity of the real exam.

Our course provides exceptional value, especially for an advanced exam like NISM Series XIX-D. For just Rs. 599, you get a complete and expertly designed preparation toolkit, including a large bank of both MCQs and crucial case studies, and multiple test attempts. This affordable package offers a structured and reliable path to passing a mandatory SEBI certification.

Be SEBI-compliant. Be prepared. Be certified.

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