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NISM Series 2B Mock Test 3: Free RTA Mutual Fund Paper

Free NISM Series 2B mock test 3 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: 1 question.
  • Characteristic of Equities: 3 questions.
  • Characteristics of Debt Securities: 2 questions.
  • Characteristics of Other Securities: 2 questions.
  • 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: 4 questions.
  • Structure and Constituents of Mutual Funds: 4 questions.
  • Mutual Fund Products: 4 questions.
  • Operational Concepts of Mutual Funds: 5 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 3

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

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 3, so reading them spoils nothing here. They come from Mock 2 of this exam. Each one shows the hint, the answer and why every wrong option is wrong.

  1. Q1A scheme has assets ₹5 crore, liabilities ₹20 lakh and 24 lakh units. What is NAV?

    • Option A. ₹19

      Why it is wrong: That uses the wrong net asset value.

    • Option B. ₹20.83

      Why it is wrong: That ignores the liabilities and uses gross assets.

    • Option C. ₹20 — Correct answer

    • Option D. ₹22

      Why it is wrong: That adds rather than subtracts liabilities.

    Answer: C. Net assets equal ₹5 crore − ₹20 lakh = ₹4.8 crore, and ₹4.8 crore ÷ 24 lakh units = ₹20.

    Hint, shown before you answer in practice mode: Deduct liabilities before dividing by outstanding units.

    II-B-094mediumnumerical

    Study this unit

  2. Q2An investor buys units worth ₹12,000 at NAV ₹30 with no charges. How many units are allotted?

    • Option A. 12,000

      Why it is wrong: That ignores the per-unit purchase price.

    • Option B. 400 — Correct answer

    • Option C. 360

      Why it is wrong: That uses a higher unstated NAV.

    • Option D. 600

      Why it is wrong: That divides by ₹20 instead of ₹30.

    Answer: B. Allotted units equal ₹12,000 ÷ ₹30 = 400.

    Hint, shown before you answer in practice mode: Calculate units by amount divided by NAV.

    II-B-129mediumnumerical

    Study this unit

  3. Q3A bond pays a ₹60 coupon on ₹1,000 face value but trades at ₹1,200. Which statement is correct?

    • Option A. Its coupon rate is 5% after the price rise

      Why it is wrong: Contractual coupon remains 6% of face value.

    • Option B. Its current yield is 20% because it trades at a premium

      Why it is wrong: The premium percentage is not annual interest yield.

    • Option C. Its current yield is 6% because face value never changes

      Why it is wrong: Current yield uses market price, not nominal value.

    • Option D. Its 5% current yield is below its 6% coupon rate — Correct answer

    Answer: D. Current yield is ₹60 ÷ ₹1,200 = 5%, while coupon rate is ₹60 ÷ ₹1,000 = 6%.

    Hint, shown before you answer in practice mode: Do not use the same denominator for both yields.

    II-B-019hardnumerical

    Study this unit

After this paper

Practise the chapters you missed

Your result shows which chapters need more work. Open a chapter on the NISM Series II-B practice page. Check each answer and read why it is right.

Open NISM Series II-B practice

Paper Trading Try it on the practice trading desk