How to Prepare NISM-Series-XIX-C: Alternative Investment Fund Managers Exam Preparation Practice Test & Mock Test

The  NISM-Series-XIX-C: Alternative Investment Fund Managers Exam is a crucial milestone for aspiring fund managers in India’s dynamic financial market. This certification, designed by the National Institute of Securities Markets (NISM), equips professionals with the knowledge and skills necessary to navigate the complexities of alternative investment funds (AIFs). To ace this exam, a structured preparation strategy is essential, and our online mock test series is here to ensure you are thoroughly prepared.

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Why Opt for Our Online Mock Test?

Our comprehensive mock test series is meticulously designed to cover all aspects of the NISM-Series-XIX-C exam. Developed using the NISM Workbook (December 2023 version) as a reference, this resource includes over 1500 questions spread across six mock tests. It’s structured to provide an in-depth understanding of the alternative investment landscape, ensuring you’re well-prepared for both conceptual questions and practical case-based scenarios.

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Test Objectives and Learning Outcomes Covered:

Our mock test series encompasses the full breadth of topics outlined by NISM, ensuring you gain a well-rounded understanding of all exam areas:

1. Investments Landscape

• Estimating the required rate of return
• Market Participants
• Meaning of Investments
• Overview of Indian Securities Markets
• Types of risks

2. Types of Investments

• Alternative Investments – Antecedents and Growth
• Channels for making investments
• Role of Alternative Investments in Portfolio Management
• Traditional Investments: Derivatives, Equity, Fixed Income Securities
• Types of investment opportunities

3. Concept of Informational Efficiency

• Concept of market efficiency
• Efficient Capital Markets and Random Walk Theory
• Market Anomalies

4. Introduction to Modern Portfolio Theory

• Expected rate of return for individual security
• Portfolio Optimization Process

5. Introduction to Capital Market Theory

• Capital Market Line
• Market Portfolio
• Types of risk – market and non-market risk

6. Alternative Investment Funds in India and Its Suitability

• AIF as a Risk Management Tool
• Categories of AIFs
• Evolution and Growth of AIFs in India
• Role of AIFs in Portfolio Diversification

7. Alternative Investment Fund Ecosystem

• Capital Commitment and Sponsor Commitment
• Due Diligence & ESG
• Fees and Expenses, Lock-in Period and Exit Load
• Service Providers

8. Alternative Investment Fund Structuring

• Common Fund Structures of AIF
• Master Feeder Structure and Parallel Structure
• Off-shore and On-shore Funds

9. Fee Structure and Fund Performance

• Clawback, Gross & Net Returns of AIFs
• Fee Structure of an AIF
• High-Water Mark and Hurdle Rate
• 10. Indices and Benchmarking
• Stock market indices
• Bond Market Indices
• Performance Benchmarking

11. Investment Strategies, Investment Process, and Governance of Funds

• Code of Conduct for Investment Managers of AIFs
• Investment Strategies used by Category III AIFs
• Investor Protection Rights in AIFs

12. Fund Due Diligence – Investor Perspective

• Manager Evaluation and Selection
• Key Man Clause
• Mitigation of Conflict of Interest

13. Legal Documentation and Negotiations

• Private Placement Memorandum
• Subscription (Investor Contribution) Agreement
• Trust Deed/ LLP Deed/ Memorandum and Articles of Association

14. Valuation

• Approaches to Equity Valuation & Business Valuation
• Asset-based Valuation
• Role of Third-Party Registered Valuers

15. Fund Monitoring, Reporting, and Exit

• Exit Options
• Fund Reporting
• Regulatory Framework for Fund Monitoring and Reporting

16. Taxation

• GAAR, MLI
• Taxation of Category I, II, and III AIFs

17. Regulatory Framework

• SEBI (AIF) Regulations, 2012
• Foreign Investments in AIFs
• Periodic Disclosures and Reporting

How to Utilize Our Mock Test Effectively

• Familiarize Yourself with the Exam Pattern: Use our mock tests to get accustomed to the format and time constraints of the actual exam.
• Identify Weak Areas: Analyze your performance to pinpoint topics where you need more practice.
• Review and Revise: Go through detailed explanations and revisit your study material for areas where you face challenges.
• Consistent Practice: Regular practice with our mock tests will build your confidence and improve your test-taking skills.

By leveraging our comprehensive mock test series, you can ensure a robust preparation for the NISM-Series-XIX-C exam. Equip yourself with the knowledge, skills, and confidence to excel and unlock the door to a successful career as an Alternative Investment Fund Manager. Happy studying!