Practice Set - 1 | Practice Set | NISM Series XXI-B: Portfolio Managers Certification Examination

Question 1

The liability in case of operational default by the portfolio manager generally rests with:

Question 2

Which of the following is mandatory during PMS client onboarding?

Question 3

Can a portfolio manager borrow funds on behalf of clients for investment purposes?

Question 4

Which of the following best describes discretionary PMS?

Question 5

A PMS investor submits incomplete KYC documents. Can the portfolio manager proceed with onboarding?

Question 6

A portfolio manager fails to segregate client assets from its own assets. This action would be:

Question 7

Which document primarily governs the relationship between a PMS provider and client?

Question 8

Which of the following best describes direct onboarding in PMS?

Question 9

What is the significance of a client risk profile in PMS operations?

Question 10

In non-discretionary PMS, the final investment decision is taken by:

Question 11

An investor has a grievance against a PMS provider. Which mechanism is available for complaint resolution?

Question 12

Can a PMS client file complaints directly with SEBI if dissatisfied with grievance handling?

Question 13

Under PMS onboarding, risk profiling of a client is primarily conducted to:

Question 14

Which of the following would most likely be treated as a material disclosure in PMS?

Question 15

The primary objective of investor grievance redressal systems in PMS is to:

Question 16

Portfolio managers are required to disclose conflicts of interest to:

Question 17

During onboarding, obtaining information about the source of funds mainly helps in:

Question 18

A portfolio manager is required to provide which document to prospective clients before entering into an agreement?

Question 19

A PMS agreement generally contains details regarding:

Question 20

The disclosure document issued by a portfolio manager must contain details regarding:

Question 21

A PMS client requests highly speculative investments despite having low risk tolerance. The portfolio manager should:

Question 22

A portfolio manager must periodically report certain information to:

Question 23

Which of the following is most important while assessing a client's suitability for PMS?

Question 24

A PMS client wants assured monthly returns from the portfolio manager. Is the portfolio manager allowed to guarantee returns?

Question 25

Who can invest in Portfolio Management Services under SEBI regulations?

Question 26

What is the primary purpose of obtaining a client's investment objectives during onboarding?

Question 27

Which factor differentiates PMS from mutual funds operationally?

Question 28

Which of the following expenses may generally be charged to PMS clients?

Question 29

Which operational aspect ensures that PMS client securities remain safe and properly accounted for?

Question 30

Under direct onboarding in PMS, the client directly interacts with:

Question 31

If a portfolio manager fails to address investor complaints within prescribed timelines, it may result in:

Question 32

Which of the following may be included under PMS expenses charged to clients?

Question 33

Which of the following is generally included in the PMS disclosure document?

Question 34

Can a portfolio manager accept funds from a client before executing a formal agreement?

Question 35

Can PMS advertisements promise assured returns to attract clients?

Question 36

Practice Set - 1