SIF Distributor Exam: Sebi and Amfi Weigh Easier NISM XIII
Why in the news
Sebi and Amfi are looking at making the SIF distributor test more practical without diluting investor protection.
Key facts
- Exam sections: currency, equity and interest rate derivatives.
- Hurdle: far tougher than the NISM VA distributor test, with negative marking and a very low pass rate.
Proposals
- Trim the currency derivatives section.
- Introduce levels matched to product complexity.
- Keep distributors able to explain risk.
| SIF feature | Detail |
|---|---|
| Position | Between retail mutual funds and PMS |
| Minimum | ₹10 lakh |
| Investors | Risk-tolerant, informed |
| Strategies | 7 long-short or allocator types, equity, debt and hybrid |
Exam angle
- Exam: NISM Series XIII.
- SIF ticket size: ₹10 lakh.