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    NISM Series V-A
    Question 15 of 10045:23 left

    Which of the following is NOT a characteristic of a mutual fund scheme?

    AProfessional management
    BGuaranteed returns
    CDiversification
    DLiquidity

    After you submit

    78%

    Score

    +6

    vs last

    82m

    Time

    Weakest topics

    Risk & Return58%
    Scheme Selection62%
    Regulatory Framework71%

    Covering

    • CFA Level 1
    • NISM VA
    • NISM VIII
    • NISM XV
    • NISM XA
    • NISM XB
    • NISM XIX (A)
    • NISM IX
    • +21 more
    29

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    Why is guaranteed return not a feature of mutual funds?

    SEBI rules prohibit assured returns on mutual fund schemes. Returns track the NAV of the underlying portfolio, so they cannot be promised.

    So option B is the exception?

    Exactly — that is why B is the correct answer here.

    QuestAI

    Ask why an answer is right without leaving the question. QuestAI answers from your exam's own study material, not from the open internet.

    Score progression

    78.0%

    You: 78% Cohort: 55%
    Mock 1Mock 6

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    Timed100 questions

    45:23

    Negative marking: −0.25 per wrong answer

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    Guaranteed returns
    Professional management

    SEBI prohibits assured returns — that is what makes this the exception.

    Explanations

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    Which of the following is NOT a characteristic of a mutual fund scheme?

    NISM V-AScheme types

    Notebook

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    Sorted by popularity
    CFA₹2,499

    CFA Level 1

    3,151 questions7 tests180d access
    Series VA₹499

    Mutual Fund Distributor

    610 questions7 tests60d access
    Series VIII₹499

    Equity Derivatives

    610 questions7 tests60d access
    Series XV₹499

    Research Analyst

    610 questions7 tests60d access
    Series XA₹499

    Investment Advisor

    550 questions5 tests60d access
    Series XB₹499

    Investment Advisor

    490 questions5 tests60d access
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