IFMP Mutual Fund Basic Certification (MFBC), Pakistan study plan
IFMP Mutual Fund Basic Certification (MFBC), Pakistan · Give each week a clear focus.
8 weeks · About 6 hours per week
Mutual Fund Basics
Define what a mutual fund is and distinguish it from direct equity, bonds, and bank deposits in the Pakistan context
Identify the key parties in a Pakistani mutual fund (AMC, trustee, custodian, distributor, SECP) and state one core responsibility for each
Explain the difference between open-end and closed-end funds and give one example of each structure used in Pakistan
Calculate net asset value (NAV) from total assets, liabilities, and units outstanding using a simple numeric example
Your checkpoint
One-page glossary of 15 core mutual fund terms with Pakistan-specific examples and a solved NAV calculation shown step by step
Mutual Fund Basics
Classify mutual fund schemes by asset class (money market, income, balanced, equity, index, Islamic) and match each to a typical investor objective
Describe the regulatory framework: role of SECP, MUFAP, and the trustee in investor protection and fund governance
Explain front-end loads, back-end loads, management fees, and total expense ratio, and compute their effect on a PKR 100,000 investment
Interpret a fund's offering document to extract investment policy, risk profile, and fee structure
Your checkpoint
Comparison table of five Pakistani fund categories covering objective, risk level, typical fee range, and suitable investor, plus a worked fee-impact example
Mutual Fund Basics
Explain how units are created, priced, allotted, and redeemed, including cut-off times and forward pricing
Distinguish between dividend distribution and capital appreciation, and compute post-distribution NAV and units
Describe the tax treatment of mutual fund income and capital gains for individual investors in Pakistan
Outline the investor onboarding process: KYC, CNIC verification, risk profiling, and account activation
Your checkpoint
Process flowchart from investor application to unit allotment and redemption, annotated with pricing, KYC, and tax points
Mutual Fund Basics
Compare risk-adjusted return measures (Sharpe ratio, standard deviation, alpha, beta) and state when each is appropriate
Analyse a fund fact sheet to extract returns, expense ratio, fund size, and benchmark, and flag inconsistencies or missing data
Explain the difference between a benchmark and a peer-group comparison in evaluating Pakistani funds
Identify common behavioural biases (chasing past returns, loss aversion) that affect fund investors
Your checkpoint
Two-page fund appraisal of a real Pakistani equity fund and money market fund using published fact-sheet data, with a clear recommendation rationale
Mutual Fund Basics
Describe Shariah-compliant mutual fund structures in Pakistan, including Shariah advisory boards, screening, and purification of income
Distinguish Islamic money market and Islamic income funds from conventional equivalents in assets and risk
Explain the distribution and sales process: distributor responsibilities, commission disclosure, and suitability obligations
Outline investor grievance and complaint escalation channels in Pakistan's mutual fund industry
Your checkpoint
One-page briefing note on Islamic mutual funds in Pakistan with a side-by-side table against conventional funds and a grievance escalation map
Mutual Fund Basics
Build a 40-question practice set spanning fund types, regulation, pricing, fees, taxation, and Islamic funds
Answer each practice question under timed conditions and score against the official syllabus weightings
Review every incorrect answer and write a corrected explanation referencing the underlying rule or formula
Recompute NAV, load-adjusted returns, and expense-ratio impacts without notes to confirm formula retention
Your checkpoint
Scored 40-question practice test with a written error log listing each missed concept, the correct rule, and a reworked example
Mutual Fund Basics
Synthesize the full syllabus into a condensed revision sheet covering definitions, formulas, and regulatory roles
Drill weak areas identified in the Week 6 error log through targeted re-study and fresh practice items
Explain out loud, in under two minutes each, five high-frequency exam topics (NAV, expense ratio, load types, fund categories, trustee role)
Complete a second 50-question mock exam and compare the score trend with Week 6
Your checkpoint
Two-page master revision sheet plus a second timed mock score with a before-and-after comparison of weak-area accuracy
Mutual Fund Basics
Simulate full exam conditions with a 60-question timed mock and achieve a target pass margin
Review only flagged and previously missed items, avoiding broad re-reading
Confirm exam-day logistics: registration documents, test centre rules, and time allocation per question
State the five most commonly confused concept pairs (open vs closed-end, dividend vs growth, load vs expense, Islamic vs conventional, benchmark vs peer group) from memory
Your checkpoint
Final mock score report at or above target pass mark, plus a one-page exam-day checklist and concept-pair summary
Milestones
Week 2: Score at least 80% on a self-made 20-question quiz covering fund structures, parties, regulation, and fee calculations; if below 80%, repeat Week 1–2 formula drills before advancing
Week 4: Complete the two-page fund appraisal and correctly compute NAV, load-adjusted return, and expense-ratio impact for both funds with no formula errors
Week 6: Achieve at least 70% on the timed 40-question practice set and submit a complete error log with corrected explanations for every missed item
Week 8: Score at least 75% on the final 60-question timed mock and demonstrate recall of all five commonly confused concept pairs without notes