NISM XIX C Alternative Investment Fund Managers Mock Test

Description

Unlock the key to success in the NISM-Series-XIX-C: Alternative Investment Fund Managers Exam with our comprehensive mock test. This meticulously crafted resource is designed to equip learners with in-depth knowledge and practical insights across various chapters, ensuring a thorough understanding of the alternative investment landscape. Within the test series of 6 Mock test, learners will find comprehensive 1500+ question bank. (NISM Workbook Version December 2023 used as reference to develop this Mock Test)

This Mock Test is part of our Printed Book with 3000+ Question Bank with case-based questions.

Printed Book Name: NISM-Series-XIX-C: Alternative Investment Fund Managers Exam Preparation Guide with 3000+ Question Bank & Case Based Questions

If you like to avail the printed Book, can get it from all major ecom platform like Amazon/Flipkart etc. Please visit Author’s website if like to avail the printed version of the book along with additional learning resources.

Case-Based Questions are available only on Printed book or eBook Only. However the questions in this mock test created in detail to help in understanding conceptual aspect and apply them on case based question during final exam

TEST OBJECTIVES & LEARNING OUTCOMES COVERED IN THIS ONLINE MOCK TEST

1. INVESTMENTS LANDSCAPE

Estimating the required rate of return

Market Participants

Meaning of Investments

Overview of Indian Securities Markets

Types of risks

2 . TYPES OF INVESTMENTS

Alternative Investments – Antecedents and Growth

Channels for making investments.

Other investments

Role of Alternative Investments in Portfolio Management

Traditional Investments

Traditional Investments - Derivatives

Traditional Investments - Equity

Traditional Investments - Fixed income securities

Types of Alternative Investments

Types of investment opportunities

3. CONCEPT OF INFORMATIONAL EFFICIENCY

Concept of market efficiency

Efficient Capital markets and Random Walk Theory

Implication of market efficiency on Valuation and Portfolio Management

Market Anomalies

4. INTRODUCTION TO MODERN PORTFOLIO THEORY

Expected rate of return for individual security

Framework for constructing portfolios MPT

Portfolio Optimization process

5. INTRODUCTION TO CAPITAL MARKET THEORY

Capital Market Line

Market Portfolio

Types of risk – market and non-market risk

6. ALTERNATIVE INVESTMENT FUNDS IN INDIA AND ITS SUITABILITY

AIF as a Risk Management Tool

Categories of AIFs

Category III AIFs vs. Mutual Funds

Comparison between Category III AIF and Traditional Investments

Comparison of Categories

Evolution and growth of Alternative Investment Funds in India

Role of AIFs in Portfolio Diversification

Suitability of AIF products to Investors

Types of AIFs

7. ALTERNATIVE INVESTMENT FUND ECOSYSTEM

Capital Commitment and Sponsor Commitment

Concepts prevalent in the AIF industry

Due Diligence & ESG

Fees and Expenses , Lock-in Period and Exit Load

First close and Final close & Green Shoe Option

Service Providers

8. ALTERNATIVE INVESTMENT FUND STRUCTURING

Anatomy of AIF Constitution

Buy-out Transactions

Common Fund structures of AIF

Comparative Analysis

General ‘Pooling’ Considerations

Master Feeder Structure and Parallel Structure

Off-shore and On-shore Funds

Principle of Pooling

Types of Buy-outs

9. FEE STRUCTURE AND FUND PERFORMANCE

Clawback, Gross & Net Returns of AIFs

Fee structure of an AIF

High-Water Mark

Hurdle Rate

Impact of Tax & Fund Performance Evaluation

Pre and Post Tax Returns

Return Metrics

Risk Measures

Risk-Return Metrics

Risks in AIF

Types of Risks in AIFs

10. INDICES AND BENCHMARKING

Bond Market Indices

Corporate Bond Index

Index Methodologies

MSCI Indices for India

Performance Benchmarking

Stock market indices

Stock-Bond (Composite) Indices

The uses of Indices

11. INVESTMENT STRATEGIES, INVESTMENT PROCESS AND GOVERNANCE OF FUNDS

Code of Conduct of Investment Managers of AIFs and Investment Committee

Co-investments in AIFs

Definitive Agreements

Governance of Funds

Industry best practices

Investment Process

Investment Strategies used by Category III AIFs

Investor Protection Rights in Category I and II AIFs

Regulation on Governance Structure in AIF

Role of Human Capital in avoiding Conflict of Interests

Various Investment Strategies for all categories of AIFs

12. FUND DUE DILIGENCE – INVESTOR PERSPECTIVE

Due Diligence on other Legal Documents

Fund Due Diligence

Fund Due Diligence Information and Questionnaire

Key Man Clause

Manager Evaluation

Manager Selection

Mitigation of Conflict of Interest

13. LEGAL DOCUMENTATION AND NEGOTIATIONS

Investor Charter for Alternative Investment Funds

Private Placement Memorandum

Subscription (Investor Contribution) Agreement

The Investment Management Agreement

Trust Deed/ LLP Deed/ Memorandum and Articles of Association

Wrapper & Support Services Agreements

14. VALUATION

Approaches to Equity Valuation & Business Valuation

Asset based Valuation

Basics of valuation of fixed income instruments

DCF Valuation

General Approach to Fund Valuation

Net Asset Value (NAV)

Relative or Multiple based Valuation

Role of third-party Registered Valuers

Valuation Basics for Fixed Income Instruments

Valuation of AIF Portfolio Investments

Valuation Techniques

15. FUND MONITORING, REPORTING AND EXIT

Exit Options

Fund Reporting

Liquidation Scheme

Monitoring AIF Progress and Performance

Regulatory Framework for Fund Monitoring and Reporting

Secondary Exits & Winding Up of an AIF

16. TAXATION

GAAR

MLI

Set off and carry forward of loss under the ITA

Taxation of Category I and Category II AIFs

Taxation of Category III AIF

17. REGULATORY FRAMEWORK

Accredited Investor Framework

Code of Conduct for AIFs

FDI and its Economic Significance

First Close, Final Close and Tenure of Funds / Schemes

Foreign Account Tax Compliance Act and Common Reporting Standard

Foreign Investments in AIFs

Guidelines on Operational, Prudential and Reporting Norms for Category III AIFs

Inspection

Investment Conditions applicable to AIFs

Investment Framework under FEMA

Investments by NRIs and PIOs & Inbound Foreign Investment Routes

Investors’ subscription to the Fund/Scheme &Dematerialization of AIF Units

Market Surveillance by AIFs

Overseas Investments by AIFs

Periodic Disclosures and Reporting

Raising Corpus Capital

Regulatory Oversight

SEBI (AIF) Regulations, 2012

SEBI (Foreign Portfolio Investors) Regulations, 2019

SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

SEBI (PFUTP Relating to Securities Markets) Regulations, 2003

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