NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) Interview Questions

The NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination aims to establish a common minimum knowledge benchmark for people working in Registrars to an Issue and Share Transfer Agents (R&T agent) organizations in the mutual fund R&T function, in order to improve investor service, operational process efficiency, and risk controls.

Transfer agents are in charge of the management of a company’s stock and securities. Their responsibilities include buying and selling stocks, managing securities, and providing detailed investment advice based on market trends. Transfer agents with in-depth knowledge of stocks and trading, excellent decision-making skills, and a natural aptitude for numbers will be preferred candidates when interviewing. Candidates who are unable to make quick decisions and are not comfortable with high-risk transactions should be avoided.

Advanced Interview Questions

Can you explain the role of a registrar and transfer agent (RTA) in a mutual fund?

A registrar and transfer agent (RTA) is a company or organization that handles various administrative and operational tasks for a mutual fund. Their main role is to maintain accurate and up-to-date records of the fund’s investors and their investment transactions. Some of the key responsibilities of an RTA in a mutual fund include:

New investor registration: RTAs are responsible for registering new investors and creating their accounts in the mutual fund scheme. They also handle the process of collecting and verifying investors personal and financial details.
Redemption and payouts: RTAs handle the process of processing redemption requests and calculating the payout amount to be paid to the investors. They also handle the process of making payments to the investors.
Compliance: RTAs are responsible for ensuring compliance with the regulations and guidelines set by the Securities and Exchange Board of India (SEBI) and other regulatory bodies.
Change of personal details: RTA handles the process of updating the personal details of investors, such as changes of address or bank details.
Dividend payouts and reinvestment: RTAs handle the process of calculating and paying out dividends to investors, as well as handling the reinvestment of dividends.
Transfer of units: RTAs handle the process of transferring units between investors in a mutual fund scheme.
Complaint and dispute resolution: RTAs handle the process of receiving and resolving complaints and disputes related to mutual fund investments.
Record maintenance and accounting: RTAs are responsible for maintaining accurate and up-to-date records of investor transactions and the fund’s assets and liabilities.
Fraud and error prevention: RTAs are responsible for implementing controls and checks to prevent fraud and errors in mutual fund transactions.

In summary, the role of RTA is to act as a liaison between the mutual fund, its investors, and the regulator, ensuring smooth and accurate transaction processing, compliance with regulations, and maintaining accurate records of the fund’s investors and their transactions.

How do you handle the process of new investor registration in a mutual fund scheme?

The process of registering a new investor in a mutual fund scheme typically involves the following steps:

The investor completes an application form, which can be obtained from the mutual fund company’s website or from a financial advisor or broker.
The investor provides proof of identity and proof of address, such as a government-issued ID and a utility bill.
The investor makes an initial investment, which can be done through a variety of methods, such as a check, bank transfer, or online payment.
The mutual fund company verifies the investor’s information and processes the investment.
Once the investment is processed, the mutual fund company provides the investor with a confirmation of their registration and an account statement.
The investor will also receive all the necessary mutual fund-related documents, such as the scheme information document, key information memorandum, account statement, and transaction statements.

It’s worth noting that the process may vary slightly depending on the mutual fund company and the specific mutual fund scheme.

Can you explain the process of handling redemption requests and payouts in a mutual fund scheme?

The process of handling redemption requests and payouts in a mutual fund scheme typically involves the following steps:

Investor submits a redemption request: The investor submits a redemption request to the RTA, either through an online portal or by submitting a physical redemption form. The request typically includes details such as the investor’s account number, the number of units to be redeemed, and the bank account details for the payout.
Validation of request: The RTA validates the redemption request to ensure that it is complete and accurate. This includes checking that the investor has sufficient units in their account to redeem and that the bank account details are correct.
Valuation of units: The RTA calculates the value of the units being redeemed based on the current net asset value (NAV) of the mutual fund scheme.
Processing the request: The RTA processes the redemption request and debits the number of units specified in the redemption request from the investor’s account.
Payout calculation: The RTA calculates the payout amount to be paid to the investor based on the number of units redeemed and the NAV of the fund at the time of redemption.
Payout: The RTA makes the payout to the investor’s bank account, as specified in the redemption request. The pay-out process could be done via cheque, NEFT or RTGS or any other mode as per the RTA policy.
Confirmation and record-keeping: The RTA sends a confirmation of the redemption request and payout to the investor and updates the investor’s account records accordingly.

It’s important to note that each mutual fund scheme and RTA may have its own specific policies and procedures for handling redemption requests and payouts, and the time frame for completion of the process may vary.

How do you ensure compliance with SEBI regulations and guidelines in the operations of a mutual fund scheme?

Ensuring compliance with SEBI regulations and guidelines in the operations of a mutual fund scheme requires the following steps:

Appointing a compliance officer: A mutual fund scheme must appoint a compliance officer who is responsible for ensuring compliance with SEBI regulations and guidelines.
Adopting a compliance manual: A mutual fund scheme must adopt a compliance manual that outlines the procedures for compliance with SEBI regulations and guidelines.
Conducting regular compliance reviews: A mutual fund scheme must conduct regular compliance reviews to ensure that its operations are in compliance with SEBI regulations and guidelines.
Maintaining records: A mutual fund scheme must maintain records of all compliance-related activities, including compliance reviews and any corrective actions taken.
Reporting to SEBI: A mutual fund scheme must report any non-compliance with SEBI regulations and guidelines to SEBI, as well as any corrective actions are taken to address the non-compliance.
Adhering to investment restrictions and guidelines set by SEBI.
Adhering to the rules and regulations of the Trust Deed of mutual fund and the guidelines set by the Board of Trustees.
Adhering to the rules and regulations of the Trust Deed of mutual fund and the guidelines set by the Board of Trustees.

It is also advisable for mutual funds to hire a legal advisor and compliance consultant for regular compliance checks and guidance.

Can you explain the process of handling changes in the personal details of investors, such as a change of address or bank details?

The process of handling changes in the personal details of investors typically involves the following steps:

The investor contacts the investment company or institution to inform them of the change in personal details.
The company or institution verifies the identity of the investor through a series of questions or by asking for identification documents.
The investor fills out a change of personal details form which requests the new information.
The company or institution updates the investor’s records with new information and confirms the changes with the investor.
If the change in personal details affects any ongoing investments or transactions, the company or institution will also update any necessary account information.

How do you manage the process of handling dividend payouts and reinvestment options for mutual fund investors?

The process of handling dividend payouts and reinvestment options for mutual fund investors typically involves the following steps:

The mutual fund company declares the dividend and the record date, which is the date on which the investor’s name should be in the records of the mutual fund company to be eligible for the dividend.
The mutual fund company calculates the number of units that the investor is eligible for based on the number of units held on the record date, and the NAV (Net Asset Value) of the mutual fund scheme on that date.
The mutual fund company provides the investors with the option to receive the dividend in cash or to have it automatically reinvested into additional units of the same mutual fund scheme.
If the investor chooses to receive the dividend in cash, the mutual fund company will process the payment to the investor’s registered bank account on the specified payout date.
If the investor chooses to have the dividend automatically reinvested, the mutual fund company will purchase additional units of the same mutual fund scheme on the investor’s behalf at the NAV on the payout date, and credit the additional units to the investor’s account.
The mutual fund company updates the investor’s account with the relevant information, including the number of units held, the NAV, and any charges or fees that may apply.

Can you explain the process of handling the transfer of units between investors in a mutual fund scheme?

The process of handling the transfer of units between investors in a mutual fund scheme typically involves the following steps:

The investor who wishes to transfer the units contacts the mutual fund company and provides the details of the unit holder, including their name and account number.
The mutual fund company verifies the identity of the unit holder and the authenticity of the request.
The mutual fund company provides the transferee with a transfer deed, which needs to be filled out and signed by both the transferor and transferee.
The transferor and transferee need to submit the transfer deed along with the original unit certificates to the mutual fund company.
The mutual fund company verifies the documents and updates its records to reflect the transfer of units.
The mutual fund company issues new unit certificates to the transferee and acknowledges receipt of the transfer deed and original unit certificates from the transferor.
If there are any outstanding dues, the transferor is liable to clear the same before the transfer is processed.

It’s worth noting that the transfer process can vary depending on the mutual fund company’s policies and procedures and the scheme’s terms and conditions. And also there might be some charges and fees associated with the transfer process.

How do you handle the process of handling complaints and resolving disputes related to mutual fund investments?

The process of handling complaints and resolving disputes related to mutual fund investments typically involves the following steps:

The investor contacts the mutual fund company with a complaint or dispute, either by phone, email or in writing.
The mutual fund company receives the complaint and assigns it to a customer service representative or a designated department for handling complaints.
The mutual fund company investigates the complaint and gathers information and evidence related to the dispute.
The mutual fund company communicates with the investor and provides them with updates on the status of the complaint, and tries to resolve the dispute in a timely manner.
If the dispute is not resolved through the mutual fund company’s internal complaint-handling process, the investor may be directed to escalate the dispute to the relevant regulatory authority or an industry ombudsman.
The regulatory authority or ombudsman will review the dispute and may take further action, such as mediation or arbitration, to resolve the dispute.
Once the dispute is resolved, the mutual fund company will update its records and inform the investor of the outcome.

It is important for mutual fund companies to have a clear and efficient complaint-handling process in place to ensure that complaints are handled fairly and promptly, and disputes are resolved in a way that is satisfactory to all parties involved.

Can you explain the process of maintaining and updating investor records and accounting for mutual fund schemes?

The process of maintaining and updating investor records and accounting for mutual fund schemes typically involves the following steps:

The mutual fund company receives subscription and redemption requests from investors, along with the necessary documentation and payment.
The mutual fund company verifies the investor’s identity, the authenticity of the request, and the availability of units before processing the transaction.
The mutual fund company updates the investor’s account with the relevant information, including the number of units held, the NAV (Net Asset Value) at the time of the transaction, and any charges or fees that may apply.
The mutual fund company maintains a record of all transactions, including subscriptions, redemptions, and dividends, in the investor’s account.
The mutual fund company reconciles the investor’s account with the NAV and the underlying assets of the mutual fund scheme on a regular basis.
The mutual fund company prepares and publishes regular financial statements, such as the balance sheet and income statement, which provide an overview of the mutual fund scheme’s financial performance.

It’s worth noting that mutual funds are regulated by the Securities and Exchange Board of India (SEBI) and the Association of Mutual Funds in India (AMFI), which have their own set of rules and guidelines for maintaining and updating investor records and accounting for mutual fund schemes. Mutual fund companies are required to maintain accurate and up-to-date records, and to ensure that the financial statements of the mutual fund scheme are accurate and transparent.

It is important for mutual fund companies to have robust and reliable accounting and record-keeping systems in place in order to comply with regulatory requirements and to ensure that investors have access to accurate and timely information about their investments.

How do you ensure that proper controls and checks are in place to prevent fraud and errors in mutual fund transactions?

There are several ways to ensure proper controls and checks are in place to prevent fraud and errors in mutual fund transactions:

Strong internal controls: Mutual fund companies should have robust internal controls in place to ensure the integrity and accuracy of their transactions. This can include measures such as segregation of duties, regular audits and reviews, and transaction logging.
Fraud detection and prevention systems: Mutual fund companies should have systems in place to detect and prevent fraudulent activities. This can include using advanced technologies such as machine learning, data analytics, and biometric authentication to identify and flag suspicious activities.
KYC and AML compliance: Mutual fund companies should comply with the “Know Your Customer” (KYC) and “Anti-Money Laundering” (AML) regulations. This includes verifying the identity of investors, monitoring transactions for suspicious activities, and reporting any suspicious activities to the relevant regulatory authorities.
Risk management: Mutual fund companies should have a comprehensive risk management process in place to identify and mitigate potential risks to the mutual fund scheme and the investors. This can include regular monitoring of the underlying assets of the mutual fund scheme, and taking appropriate action to address any identified risks.
Robust IT systems: Mutual fund companies should have robust IT systems in place to process, store and transmit data, and to ensure the security of the data. This can include measures such as encryption, firewalls, and intrusion detection and prevention systems.
Employee training: Mutual fund companies should provide regular training to their employees on the latest fraud prevention techniques, and the importance of maintaining the integrity of the transactions. This can include educating employees about the latest fraud trends, as well as providing them with the necessary tools and resources to detect and prevent fraud.

Basic Interview Questions

1. Define growth investing.

A widely adopted investment approach in which fund managers select firms with exceptional earnings prospects. The primary objective of buying stocks is to achieve capital growth rather than receive dividend returns. Growth investors (or managers) are prepared to pay a premium for a stock if they believe it holds bright future prospects. This type of investment differs from value investing. For instance, buying a stock of an overpriced software company would fall under the investment strategy of a growth manager.

2. Explain value investing.

Value investors or managers hunt for stocks that are undervalued, as opposed to those who are focused on growth. These investors look for stocks that are being sold at a lower price but have the potential to deliver good returns in the future.

3. What is Hedging?

A general expression that encompasses different methods of minimizing potential losses. To mitigate the potential impact of a market downturn, a portfolio manager might choose to increase the amount of cash in their portfolio or sell futures contracts tied to a stock index. This will enable them to offset any losses experienced by the portfolio if the market does indeed fall, as the gains from the shorted futures will more than make up for the decrease in portfolio value.

4. What do you understand by Passive Investing?

The approach promoted by index fund managers is to align their portfolio with a widely-used stock market index like the BSE-30 or the SP CNX-50. This involves investing in stocks that reflect the exact composition of the index. Since there is no effort made to surpass the benchmark, it is known as passive investing. As a result, the index fund will never exceed the performance of the benchmark index.

5. Explain the open-ended scheme.

Once the initial lock-in period is over, investors in this investment plan have the option to join or leave the fund whenever they wish. The fund may announce buying and selling prices periodically. Investors who have invested in an open-ended scheme have the option to sell their units back to the mutual fund that issued them, at the unit’s net asset value (NAV). This is because open-ended schemes have the authority to purchase and sell their own units. For instance, the Alliance Capital 1995 Fund is a prime example.

6. Define a close-ended scheme.

Closed-ended funds differ from open-ended funds as they do not offer regular repurchase redemption options for their units. The units can only be redeemed upon the termination of the scheme or through secondary market transactions. The duration of the scheme is established from the beginning and has a fixed target for funds collected, with no additional sales after the initial offering. A well-known example of a closed-ended fund is UTI Master Gain 1986.

7. Explain offshore funds.

With the approval of the Reserve Bank of India, offshore funds are now able to invest in the securities of foreign companies. The objective of establishing these funds is to draw foreign investment into the issuer’s home country. By enabling cross-border fund flow, offshore funds provide a direct route for obtaining foreign currency. In terms of investment, offshore funds expand the domestic capital markets to international investors and global portfolio investments.

8. What do you understand by domestic funds?

Domestic investment companies create investment opportunities to gather the savings of citizens within the country. These funds can belong to different portfolio and functional classification categories. Indian mutual funds, such as GIC Mutual Fund, UTI LIC Mutual Fund, SBI Mutual Fund, Canbank Mutual Fund, Bank of Baroda Mutual Fund, Bank of India Mutual Fund, Morgan Stanley, Templeton Mutual Fund, and Alliance Mutual Fund, offer these schemes.

9. Define Custodian.

The custodian, which operates as a standalone entity, holds physical ownership of all securities bought by the mutual fund and oversees their management and protection. For instance, the majority of India’s fund houses have Stock Holding Corporation of India Ltd (SCHIL) as their custodian.

10. How important is the expense ratio?

The definition of a lower expense ratio implies a measure of a fund’s efficiency, which is an important factor for investors to consider when evaluating the efficiency of different funds.

11. Define Cheque-writing Facility.

A facility that enables investors to issue checks from their mutual fund accounts. Typically, the checks must be for a specified amount and are only accessible through money-market funds.

12. Explain load.

A mutual fund collects a fee when it sells units, either as a front-end load (collected at the time of purchase) or a back-end load (collected when the units are sold by the investor). There are also No Load Schemes that do not impose any fees.

13. What do you understand by Daily Dividend Fund?

Daily Dividend Fund is an investment fund that invests in stocks, bonds, and other securities that pay daily dividends. This type of fund aims to generate regular income for investors by distributing dividends on a daily basis instead of monthly or quarterly. The goal of a Daily Dividend Fund is to provide a steady stream of income for investors, which can help to hedge against market volatility and offer stability in their portfolios. However, it is important to note that the level of income received may fluctuate based on market conditions, and as with all investments, there is always a risk of losing money.

14. Define Derivatives.

Financial instruments are rooted in a core underlying asset or benchmark, including stocks, bonds, commodities, or stock market indices. The value of derivative securities changes in relation to the primary security. These derivatives often involve leverage, which amplifies their level of fluctuation. They serve both as a means of speculation and a tool to manage negative risks. Futures and options are examples of standardized derivatives, while others are custom-designed to meet specific needs.

15. Explain Asset Management Fee?

Asset management fee is a fee charged by an investment manager for managing an individual’s or organization’s investments, such as stocks, bonds, mutual funds, and real estate. The fee is typically expressed as a percentage of the total assets under management and is used to cover the cost of managing the investments, conducting research, making trades, and providing other services. The fee is usually deducted directly from the investment account and is paid on a regular basis, such as quarterly or annually. The size of the asset management fee varies depending on the type of investment and the level of management services provided.

16. Can you please explain what you mean by private equity transactions?

Private equity transactions refer to the buying and selling of ownership stakes in private companies. These transactions are usually conducted between private equity firms and individual investors. The purpose of these transactions is to buy a controlling stake in the company and improve its performance, which will increase the value of the company and thus, generate returns for the private equity firm and investors. The private equity firm will typically hold the investment for a number of years, and then sell its stake to another private equity firm or to a strategic buyer such as a public company. The process is designed to provide a source of capital for growing companies, as well as provide investors with an opportunity to invest in private companies and receive a return on their investment.

17. What exactly is equity funding?

An equity funding is the insurance coverage for a mutual fund. Traditional mutual fund investment is advantageous for individual investors as the value of the mutual fund shares pays for the insurance policy premiums.

18. What is the weighted average rating factor?

The weighted average rating factor is a statistical measure that takes into account the importance of each rating in determining the overall average rating. It assigns a weight or importance to each rating based on the number of times it has been given or the significance of the source of the rating. The weighted average rating is calculated by multiplying each rating by its weight and then dividing the sum of the weighted ratings by the sum of the weights. This method provides a more accurate representation of the overall rating as compared to the simple average, which gives equal weight to all ratings.

19. What is a call option?

A call option is a type of financial contract that gives the buyer the right, but not the obligation, to purchase an underlying asset, such as a stock, commodity, or currency, at a predetermined price (strike price) within a specified time period. The buyer of a call option benefits if the price of the underlying asset increases above the strike price, as they can exercise their option to purchase the asset at the lower strike price. The seller of the call option, also known as the option writer, is obligated to sell the underlying asset if the buyer exercises their option.

20. How are options different from stocks?

Options and stocks are both securities that investors trade, but they are fundamentally different in their structure and purpose.

Ownership: Stocks give investors ownership in a company and a share of its profits and losses, while options are contracts that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price within a specified time period.
Risk: Stocks have a higher level of risk, as the value of the stock can go up or down based on the performance of the company. Options are more limited in terms of risk, as the buyer can only lose the premium paid for the option.
Leverage: Options provide leverage, as a smaller investment can control a larger position in the underlying asset. Stocks do not provide the same level of leverage, as the investor must purchase the entire stock at its current market price.
Trading: Options are traded on exchanges, and the price is determined by supply and demand, while stocks are also traded on exchanges, but the price is also influenced by the underlying company’s financial performance.
Purpose: Stocks are primarily used for long-term investments or as a source of income through dividends, while options are often used for short-term speculation or as a hedge against other investments.

21. What is a short sell in equity trading?

A short sell in equity trading refers to a type of investment where an investor sells securities that they do not own in the hope that the price will drop so they can buy them back at a lower price and make a profit. The investor borrows the securities from a broker and sells them on the market, with the expectation that they can purchase the same securities at a lower price in the future. If the price of the securities does indeed fall, the investor buys them back and returns them to the broker, making a profit on the difference between the selling price and the purchase price. However, if the price of the securities rises, the investor incurs a loss.

22. Define capital loss.

Capital loss refers to the decline in value of an investment or asset, resulting in a decrease in the investor’s net worth. It occurs when the sale price of an investment or asset is lower than its purchase price. Capital losses can be offset against capital gains to reduce the overall tax liability on investment profits.

23. Can you explain the term “double bottom”?

Double bottom is a term used in technical analysis of financial markets. It refers to a chart pattern where the price of an asset makes two consecutive lows at approximately the same level. This pattern is considered bullish as it suggests a potential reversal in the trend and an upward trend in price. Traders typically watch for a break above the resistance level between the two lows to confirm the reversal. The double bottom pattern is often considered a strong reversal signal, as it indicates that the previous downtrend has lost momentum and buying pressure has increased.

24. Can you please explain MF (Minimum Fill Order) ?

Minimum Fill Order (MF) is a heuristic algorithm used in constraint-based ordering of variables in constraint satisfaction problems (CSPs). The main idea behind MF is to minimize the number of edges that need to be added to the current graph, which represents the current order of variables, to create a complete ordering that satisfies the constraints.

In CSPs, a complete ordering means that all constraints between variables are resolved, meaning that a value can be assigned to each variable in a way that satisfies all constraints. MF aims to find such an ordering by starting with a random ordering of variables and then iteratively improving it by adding edges between variables in such a way as to reduce the number of missing constraints.

The algorithm works by considering each variable in the current ordering and adding edges between this variable and other variables in a way that minimizes the number of missing constraints. This process continues until a complete ordering is found, or until the algorithm reaches a maximum number of iterations.

MF is widely used in scheduling problems, such as task scheduling, resource allocation, and project scheduling, where it is used to order variables (e.g. tasks, resources) in a way that minimizes conflicts between variables.

25. Explain the debt-to-equity ratio.

This ratio is calculated by dividing the company’s total equity by its total assets. The higher the equity ratio, the more stable the company is considered to be as it has a greater proportion of funds generated from its own operations, rather than borrowed funds. A company with a high equity ratio is seen as less risky to investors and lenders, as it has a greater ability to pay off debts and withstand economic difficulties.

26. Define bridge equity.

Bridge equity refers to an equity investment made by a private equity firm or a venture capital firm to provide interim financing to a company. This type of investment is usually made in companies that are experiencing growth but are not yet ready to go public. Bridge equity provides them with the funds they need to continue their growth trajectory and become more attractive to investors. The funds can be used to make strategic acquisitions, expand product lines, hire new employees, and make other investments that support growth. In exchange for the investment, the private equity firm typically receives equity in the company, which can then be sold later when the company is ready to go public or is sold to a larger company.

27. What exactly are secondary markets? What is the distinction between the primary and secondary markets?

It is comprised of both the equity market and the debt market. The primary distinction is that in the primary market, securities can be purchased directly from the issuing company through an initial public offering (IPO), whereas in the secondary market, securities are acquired from other investors who are seeking to sell them. Various securities, including equity shares, bonds, preference shares, and others, can be purchased in the secondary market.

28. What exactly are Preference Shares?

Preference shares grant an investor a stake in the issuing company, where in the event of liquidation or dividend distribution, priority in payment will be given to preference shareholders after debt obligations have been fulfilled.

29. Define ROE.

The Return on Equity (ROE) is a measure of a company’s profitability that determines the amount of profit generated for every dollar of equity held by its shareholders. The calculation of ROE involves dividing the net income by the shareholder equity, resulting in a ratio that represents the return on investment (ROI).

30. Explain the distinction between equity financing and debt financing.

Equity financing and debt financing are two different methods of raising capital for a business. Equity financing involves selling ownership stakes in the company to investors in exchange for capital. The investors become shareholders and receive a portion of the company’s profits in the form of dividends. Equity financing does not require repayment of the funds received and does not carry interest.

Debt financing involves borrowing money from lenders and repaying the loan with interest. Debt financing does not dilute the ownership of the company and does not affect the distribution of profits. However, debt financing carries a risk of default and may limit the company’s ability to make decisions without the approval of its lenders.

In summary, equity financing involves giving up ownership in exchange for capital while debt financing involves borrowing money and repaying it with interest.

Conclusion for NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) Interview Questions

A career in the NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) is a promising one that can guarantee constant growth if you find the right footing. If you have a good understanding of the stock market and technical knowledge of dealing with shares, bonds, and investments, you are ready to go.

So, if you want to ace the NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) interview, demonstrate your capital market knowledge with a NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) certification. This, like these NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) interview questions, will be a priceless asset.

NISM Series-II B: Registrars and Transfer Agents (Mutual Fund) free practice test