NISM Series II-B (RTA Mutual Fund) study guide
NISM Series II-B (RTA Mutual Fund) · Work through your exam, one topic at a time.
The NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination is a NISM certification examination listed under the "Registrar & Transfer Agents" group of NISM Certifications, alongside NISM-Series-II-A (the Corporate variant). NISM itself is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. The NISM Series II-B (RTA Mutual Fund) study guide has 5 sections and about 1,518 words.
01Mutual Fund Operations and RTA Functions
This domain tests the operating chain behind a mutual fund folio: who does what, how a transaction becomes a unit balance, and where the RTA sits between investor, AMC, trustee and custodian. The AMC runs the scheme; the trustee oversees compliance and investor protection; the custodian safekeeps securities; the fund accountant computes NAV; the RTA maintains the unitholder register and processes service requests.
330 words, about 2 min02Investor Transactions
This domain tests the transaction lifecycle: purchase, redemption, switch, SIP, STP, SWP, dividend payout/reinvestment, nomination and transmission, with emphasis on cut-off, NAV applicability, load and payout timelines. Cut-off for purchase and redemption is normally 3:00 p.m.
315 words, about 2 min03KYC and Unitholder Servicing
This domain tests investor identification and ongoing folio service: KYC through KRAs, CKYC, PAN, FATCA, risk categorisation, IPV, re-KYC, and servicing events such as nomination, transmission, lien/pledge and bank-mandate changes. PAN is the primary identifier for mutual fund investments; KYC records are maintained by SEBI-registered KYC Registration Agencies (KRAs).
291 words, about 1 min04Regulatory Framework for RTAs and Mutual Funds
This domain tests the rulebook: SEBI (Mutual Funds) Regulations, 1996, RTA registration and conduct requirements, AMFI codes, SEBI circulars on operations, and the governance split among sponsor, trustee, AMC, custodian and RTA. Mutual funds are constituted as trusts and regulated by SEBI.
300 words, about 2 min05Risk Management, Compliance and Grievance Redressal
This domain tests how an RTA/AMC controls operational risk, prevents fraud, maintains business continuity and resolves investor complaints within regulatory channels. Segregation of duties and maker-checker controls are core: the person who enters a transaction should not be the sole approver.
282 words, about 1 min