[100% Off] Nism Series 21A Portfolio Management Services Mock -Advanced

Portfolio Management Services Preparation Guide for NISM 21A with Practice Tests, Explanations & PMS Fundamentals

Added on June 29, 2026 100% Off Coupon 2 min read

What you’ll learn

750+ Practice Questions covering all NISM Series 21A Test Objectives and Learning Outcomes,6 Full-Length Mock Tests with 130 questions each
along with correct answers and detailed explanations,Knowledge Area Tagging included at the end of each test to help you identify weak areas and strengthen your preparation,Questions from Every Test Objective & Learning Outcome
including high-frequency and highly tested exam topics for complete coverage

Requirements

NISM Exam Preparation Guide for NISM-Series-21A: Portfolio Management Services (PMS) Distributors Certification Exam Practice Test & Mock Test

Description

This Mock Test is designed to help learners build a thorough understanding of Portfolio Management Services and gain the expertise required to clear the NISM-Series 21A: Portfolio Management Services (PMS) Distributors Certification Exam with confidence. It covers every Test Objective and Learning Outcome prescribed by NISM, ensuring complete exam readiness.

NISM Series 21A Test Objectives & Learning Outcomes Covered

1. Investments

Capital Preservation, Capital Appreciation, and Current Income
Equity, Commodities, Real Estate, Fixed Income, Distressed Securities
Direct Investments and Managed Portfolios
Structured Products and Other Investment Opportunities
Risk–Return Relationship, Types of Risks, and Risk Premium
Nominal Risk-Free Rate, Real Risk-Free Rate, Expected Inflation
Saving vs. Investment & Investment vs. Speculation

2. Introduction to the Securities Market

Primary and Secondary Market
Retail Participants
Securities Market Overview
Market Infrastructure Institutions & Key Intermediaries

3. Investing in Stocks

Equity as an Investment
Diversification and Equity Risk Factors
Equity Market Overview
Fundamental Analysis & Technical Analysis
Stock Analysis Process
Relative Valuation & DCF Models
Intrinsic Value Estimation
Corporate Governance Basics

4. Fixed Income Securities

Types and Characteristics of Bonds
Bond Pricing & Bonds with Options
Duration, Volatility & Interest Rate Risk
Fixed Income Instruments Overview
Determinants of Bond Safety

5. Derivatives

Definition and Purpose of Derivatives
Forwards, Futures, Options, and Swaps
Commodity and Currency Derivatives
Derivatives Market Structure
Key Concepts in Derivatives

6. Mutual Funds

Concept, Role & Working of Mutual Funds
Types of Mutual Fund Products
Scheme Fact Sheets
Key Performance Measures
Legal & Regulatory Framework (SEBI Regulations)
Legal Structure of Mutual Funds in India
Investment Process in Mutual Funds

7. Role of Portfolio Managers

Responsibilities of a Portfolio Manager
Portfolio Managers in India
PMS Organizational Structure
Types of PMS
PMS Registration Requirements
Investor Portfolio Administration

8. Operational Aspects of PMS

PMS Agreement Contents
Disclosures & Onboarding Process
Direct Onboarding in PMS
PMS Fees, Costs & Expenses
GIPS Standards & Best Practices
Investor Grievance Redressal

9. Portfolio Management Process

Investment Policy Statement (IPS)
Life Cycle & Psychographic Analysis of Investors
Assessing Investor Needs & Financial Position
Asset Class Forecasting (Risk & Return)
Investment Constraints
Portfolio Rebalancing
Strategic vs. Tactical Asset Allocation
Understanding Correlation
Steps in the Portfolio Management Process

10. Performance Measurement & Evaluation

Risk & Return Metrics: Alpha, Beta, Sharpe, Treynor, Sortino, Information Ratio, M2
CAGR, AMR/GMR, Annualized Returns
TWRR, MWRR, IRR
Gross vs. Net Return
Pre-Tax vs. Post-Tax Return
Portfolio Risk vs. Individual Security Risk
Total & Downside Risk, Semi-Variance
Cash Drag Adjusted Return
Asset & Sector Allocation
GIPS Standards & Advertisement Guidelines
Due Diligence & Manager Selection

11. Taxation