Examination Overview - NISM Series II-B: Registrars to an Issue and Share Transfer Agents (Mutual Fund) Certification Mock Test
The examination aims to create a minimum knowledge benchmark for professionals working in or aspiring to work with Registrars to an Issue and Share Transfer Agents (RTA) in the mutual fund industry. It focuses on enhancing understanding of operational processes, regulatory requirements, and investor servicing functions within mutual fund operations.
The certification provides a detailed understanding of the structure and functioning of mutual funds in India, including transaction processing such as subscriptions, redemptions, switches, and systematic transactions. It also covers key areas like investor onboarding, KYC compliance, FATCA requirements, NAV application, and record maintenance handled by RTAs.
In addition, the examination emphasises the regulatory framework governing mutual funds and RTAs, particularly the role of SEBI and compliance obligations applicable to intermediaries. By strengthening operational knowledge and compliance awareness, the certification helps improve efficiency, transparency, and investor service quality in the mutual fund ecosystem.
Examination Objectives
This examination aims to create a common minimum knowledge benchmark for individuals working with Registrars to an Issue and Share Transfer Agents (RTAs) in the mutual fund industry. It focuses on operational, regulatory, and investor servicing aspects specific to mutual fund transactions and processes.
On successful completion of the examination, the candidate should:
Understand the basics of securities markets and the structure of the mutual fund industry in India.
Gain knowledge of the roles and functions of RTAs in mutual fund transactions including subscription, redemption, and transfer processes.
Understand the end-to-end operational workflow in mutual fund processing, including record keeping and transaction handling.
Familiarise with the regulatory framework governing mutual funds and RTAs, including SEBI regulations and compliance requirements.
Understand investor servicing functions such as handling queries, grievances, and communication with unit holders.
Learn about risk management practices, operational controls, and compliance obligations in mutual fund RTA activities.
Assessment Structure
| Component |
Details |
| Mode of Exam |
Online (Computer-Based Test) |
| Type of Questions |
Multiple Choice Questions (MCQs) |
| Language Options |
English |
| Number of Questions |
100 |
| Total Marks |
100 |
| Marks per Question |
1 mark |
| Passing Criteria |
50% |
| Negative Marking |
There is no negative marking |
| Exam Duration |
2 Hours (120 Minutes) |
| Exam Fee |
Rs. 1,500 (inclusive of GST) + payment gateway charges extra |
| Result Declaration |
Immediately after exam completion |
| Certificate Validity |
3 Years from the date of passing |
| PAN Requirement |
PAN must be updated in your profile to apply |
| Exam Delivery Modes |
At NISM designated test centers across India |
Syllabus Outline – Registrars to an Issue and Share Transfer Agents (Mutual Fund) Certification Examination
| Chapter No. |
Chapter Name |
Weightage (%) |
| Chapter 1 |
Introduction to Mutual Funds |
6 |
| Chapter 2 |
Legal Structure and Regulatory Framework |
10 |
| Chapter 3 |
Roles and Responsibilities of RTAs in Mutual Funds |
10 |
| Chapter 4 |
Investor Onboarding and KYC Process |
8 |
| Chapter 5 |
Mutual Fund Transactions and Processes |
12 |
| Chapter 6 |
NAV, Pricing and Allotment of Units |
10 |
| Chapter 7 |
Systematic Transactions (SIP, STP, SWP) |
6 |
| Chapter 8 |
Investor Servicing and Grievance Redressal |
10 |
| Chapter 9 |
Compliance, Risk Management and Audit |
10 |
| Chapter 10 |
Record Maintenance and Reporting |
8 |
| Chapter 11 |
Taxation and Regulatory Reporting in Mutual Funds |
5 |
| Chapter 12 |
Technology and Operational Infrastructure in RTAs |
5 |
| Total |
Total Weightage |
100 |
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Frequently Asked Questions - NISM Series II-B: Registrars to an Issue and Share Transfer Agents (Mutual Fund) Certification
The NISM Series III-A examination is designed to establish a minimum knowledge benchmark for professionals working in or aspiring to enter the Indian securities market. It focuses specifically on the regulatory and compliance framework governing market intermediaries like stock brokers, merchant bankers, and depository participants.
The NISM Series III-A examination is an online, computer-based test (CBT) consisting of 100 Multiple Choice Questions (MCQs). Each question carries 1 mark, making the total exam worth 100 marks.
Yes, the examination enforces a strict negative marking policy. For every incorrect answer, 25% of the marks assigned to that question (i.e., 0.25 marks) will be deducted. Practising with our mock tests is highly recommended to build accuracy and avoid negative marking penalties.
Candidates must secure a minimum of 60% (60 marks out of 100) to successfully clear the NISM Series III-A examination.
Candidates are given exactly 2 hours (120 minutes) to complete the 100 questions. Time management is crucial for reading and comprehending complex regulatory questions.
The official examination fee charged by NISM is Rs. 1,500 (inclusive of GST). Please note that additional payment gateway charges may apply during the registration process.
The syllabus is broadly categorised into two parts. Part ‘A’ covers the generic financial and regulatory structure in India (including SEBI Act, SCRA, Insider Trading, and PMLA). Part ‘B’ deals specifically with rules governing individual intermediaries such as Stock Brokers, Merchant Bankers, Depository Participants, and Credit Rating Agencies.
Upon successful completion, your NISM Series III-A certification remains valid for a period of 3 years from the date of passing the examination.
The results are declared immediately after the completion and submission of your online computer-based test at the examination centre.
To successfully apply and register for the NISM Series III-A examination, it is mandatory to have your Permanent Account Number (PAN) updated and verified within your NISM candidate profile.
If you are serious about clearing the exam on your first attempt, you cannot rely on outdated notes or guesswork. NISMExams.in provides a structured, mock-driven preparation platform featuring 600 exam-focused questions strictly aligned with the latest NISM syllabus to train you exactly the way the real exam tests you.
Our comprehensive NISM Series III-A mock test package is highly affordable, priced at just Rs. 599 (inclusive of GST). This ensures you get premium, expert-curated study resources at a fraction of the cost of an exam retake.
When you subscribe to our Rs. 599 package, you receive 15 test attempts per set. This allows you to practice extensively, identify your weak areas in compliance regulations, and track your progress over multiple simulated sessions.
The premium mock test package grants you 15 days of uninterrupted access. This provides ample time for focused, intensive preparation and revision right before your scheduled examination date.
No, the official exam is an online, computer-based test that must be delivered in person at one of the 150+ designated NISM test centres located across India.