NISM-Series-XIX-A: Alternative Investment Funds (Category I & II) Distributors Certification Exam Preparation

Prepare effectively for the NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors Certification Exam with this comprehensive mock test series. Designed with precision and aligned with the official learning outcomes, this course helps you build in-depth conceptual clarity, strengthen exam readiness, and gain practical understanding of the AIF ecosystem in India.

This test series includes 6 high-quality mock tests and a 700+ question bank, ensuring complete coverage of all examination objectives.

What’s Included in This Course

A. Chapter-Wise Practice Test (200+ Questions)

A structured test covering each chapter and every learning outcome, enabling focused revision and concept mastery.

B. Five Full-Length Mock Tests (500+ Questions)

Exam-style questions mapped to NISM’s test objectives and learning outcomes, designed to replicate the real exam environment.

This mock test series is part of our Printed Book – “NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors Certification Exam Preparation Guide”, featuring 1400+ questions.
Learners who wish to purchase the printed version can find it on major platforms like Amazon, Flipkart, and other leading e-commerce sites.

Chapters & Learning Areas Covered

1. Overview of Alternative Investments

• Evolution and growth

• Introduction and characteristics

• Distinguishing between Alpha and Beta

• Role of alternative investments

2. Alternative Investment Funds in India

• Categories of AIFs

• Evolution and growth in India

• Types of AIFs

3. Concepts in the AIF Industry

• Distributions and waterfall structures

• Fees & expenses

• Private capital ecosystem

• Private Placement Memorandum (PPM)

4. AIF Regulatory Framework

• SEBI (AIF) Regulations, 2012

• Code of Conduct

• Foreign Investments in AIFs

• Special Situation Funds

5. Alternative Investment Fund Structuring

• Anatomy of AIF constitution

• Principle of pooling

• Structuring templates

• Comparative analysis

6. Risk and Return – Fund & Investor Perspective

• Fund-level risks

• Investor-level risks

• Risk–return relationship

7. Investment Process & Fund Governance

• Definitive agreements

• Governance structures

• Investor advisory committee

• Investor grievance & dispute resolution

• Investor protection rights

8. Fund Due Diligence – Investor Perspective

• Fund selection criteria

• Benchmarking

• Investor perspective

• Sales strategy formulation

• Uniqueness of AIF due diligence

9. Legal Documentation & Negotiation

• Private Placement Memorandum

• Key legal documents and their importance

10. Fund Monitoring, Reporting & Exit

• Reporting requirements

• Monitoring process

• SEBI reporting

• Exit options & winding-up procedures

11. Valuation

• Basics of fixed income valuation

• General fund valuation approach

• Role & limitations of valuers

• Valuing AIF portfolio investments

12. Taxation – India Specific

• GAAR

• Taxation for residents

• AIF taxation structure

• Tax withholding rules

13. Good Practices

• Client confidentiality

• Avoiding conflicts of interest

• Ethical practices

Examination Objectives

By the end of this course, learners will be able to:

• Understand the fundamentals of the alternative asset class and the AIF market in India.

• Learn key concepts used in the AIF industry.

• Gain clarity on fund structuring, risk-return dynamics, investment governance, and exit strategies.

• Evaluate fund due diligence, legal documentation, negotiation processes, and investor rights.

• Understand AIF valuation methods and taxation norms.

• Recognize the role, responsibilities, and ethical conduct expected from distributors.

• Comprehend the regulatory environment governing AIFs (Category I & II).

What You’ll Learn

• Detailed explanations for every question—double assurance for conceptual clarity.

• Chapter-wise practice test with 200+ questions.

• 5 full mock tests aligned to NISM exam objectives (100 questions each).

• In-depth coverage of all topics needed for the NISM-Series-XIX-A certification exam.

Requirements / Prerequisites

No specific prerequisites. Basic understanding of finance is helpful, but not mandatory.

Who This Course Is For

• Distributors, placement agents, intermediaries, and professionals working in or aspiring to enter the Alternative Investment Fund (AIF) domain in India.

• Anyone preparing for the NISM-Series-XIX-A: AIF Category I & II Distributors Certification Exam.