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NISM Series 2B Mock Test 1: Free RTA Mutual Fund Paper

Free NISM Series 2B mock test 1 for the Registrars to an Issue and Share Transfer Agents - Mutual Fund exam (NISM Series II-B). 50 questions. You have 60 minutes. The pass mark and negative marking match the exam.

The clock starts when you press Start. Answers and explanations open after you submit.

How this mock is marked

  • 50 questions, one mark each.
  • 60 minutes on the clock. That is the real exam's pace: 120 minutes for 100 questions.
  • A wrong answer loses nothing, so answer every question.
  • You pass with 50% or more.
  • Submit to see your score and the chapters to work on. Then check each right answer and why it is right.

What this paper covers

50 questions from 15 chapters. Each chapter gets a share that follows our question bank.

  • Introduction to Securities: 2 questions.
  • Characteristic of Equities: 2 questions.
  • Characteristics of Debt Securities: 3 questions.
  • Characteristics of Other Securities: 1 question.
  • SEBI- Role and Regulations: 2 questions.
  • Basics of Registrars and Transfer Agents: 4 questions.
  • Registrars and Transfer Agents Regulations: 4 questions.
  • Basics of Mutual Funds: 5 questions.
  • Structure and Constituents of Mutual Funds: 4 questions.
  • Mutual Fund Products: 4 questions.
  • Operational Concepts of Mutual Funds: 4 questions.
  • Investors in Mutual Funds: 3 questions.
  • Banking Operations in Mutual Funds: 4 questions.
  • Financial Transactions: 4 questions.
  • Non-Financial Transactions: 4 questions.

By level: Beginner 15 · Intermediate 25 · Advanced 10.

Chapter split of Mock 1

How Mock 1 shares its questions between chapters and levels. This split belongs to this paper. The other mocks of this exam have their own.

  • Introduction to Securities: Beginner 1 · Intermediate 0 · Advanced 1.
  • Characteristic of Equities: Beginner 0 · Intermediate 2 · Advanced 0.
  • Characteristics of Debt Securities: Beginner 2 · Intermediate 1 · Advanced 0.
  • Characteristics of Other Securities: Beginner 1 · Intermediate 0 · Advanced 0.
  • SEBI- Role and Regulations: Beginner 0 · Intermediate 2 · Advanced 0.
  • Basics of Registrars and Transfer Agents: Beginner 1 · Intermediate 2 · Advanced 1.
  • Registrars and Transfer Agents Regulations: Beginner 1 · Intermediate 2 · Advanced 1.
  • Basics of Mutual Funds: Beginner 1 · Intermediate 3 · Advanced 1.
  • Structure and Constituents of Mutual Funds: Beginner 2 · Intermediate 2 · Advanced 0.
  • Mutual Fund Products: Beginner 2 · Intermediate 1 · Advanced 1.
  • Operational Concepts of Mutual Funds: Beginner 1 · Intermediate 2 · Advanced 1.
  • Investors in Mutual Funds: Beginner 1 · Intermediate 1 · Advanced 1.
  • Banking Operations in Mutual Funds: Beginner 0 · Intermediate 3 · Advanced 1.
  • Financial Transactions: Beginner 1 · Intermediate 2 · Advanced 1.
  • Non-Financial Transactions: Beginner 1 · Intermediate 2 · Advanced 1.

The written-out answers on this page are hidden while your timed set runs.

3 sample questions, with answers

These 3 questions are not in Mock 1, so reading them spoils nothing here. They come from Mock 3 of this exam. Each one shows the hint, the answer and why every wrong option is wrong.

  1. Q1An investor redeems 250 units at NAV ₹40 with no exit load or taxes assumed. What is the gross value?

    • Option A. ₹40,000

      Why it is wrong: That incorrectly multiplies by 1,000 units.

    • Option B. ₹6,250

      Why it is wrong: That uses ₹25 per unit rather than ₹40.

    • Option C. ₹8,000

      Why it is wrong: That values only 200 units.

    • Option D. ₹10,000 — Correct answer

    Answer: D. Gross value is 250 × ₹40 = ₹10,000.

    Hint, shown before you answer in practice mode: Multiply units redeemed by the relevant NAV.

    II-B-131mediumnumerical

    Study this unit

  2. Q2A share has face value ₹10 and a declared 20% dividend. What is its dividend per share?

    • Option A. ₹20

      Why it is wrong: That multiplies the dividend rate by 100 rather than 10.

    • Option B. ₹0.20

      Why it is wrong: That uses ₹1 instead of ₹10 as the base.

    • Option C. ₹10

      Why it is wrong: That is the face value, not 20% of it.

    • Option D. ₹2 — Correct answer

    Answer: D. Dividend per share equals ₹10 × 20% = ₹2.

    Hint, shown before you answer in practice mode: Use the face value when interpreting the stated dividend percentage.

    II-B-007mediumnumerical

    Study this unit

  3. Q3A scheme starts with 1,000 units at NAV ₹10. It issues 100 more at ₹10 and markets stay unchanged. What is NAV just after the issue?

    • Option A. ₹10 — Correct answer

    • Option B. ₹11

      Why it is wrong: Issuance at NAV adds matching assets and units, not a per-unit gain.

    • Option C. ₹9.09

      Why it is wrong: That divides the original assets by the new units but ignores new cash.

    • Option D. ₹10.90

      Why it is wrong: That mistakenly treats unit issuance itself as market appreciation.

    Answer: A. Assets rise from ₹10,000 to ₹11,000 and units from 1,000 to 1,100, so NAV remains ₹10.

    Hint, shown before you answer in practice mode: Include subscription cash as well as additional units.

    II-B-064hardapplication

    Study this unit

After this paper

Then take Mock 2

Read the chapters your result names first. A new paper then shows whether those gaps have closed.

Open Mock 2

Paper Trading Try it on the practice trading desk