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NISM Certifications · NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors · Regulatory, Governance and Ethical Aspects of Portfolio Managers

A PMS distributor must hold a valid NISM certification. For how long is the NISM certificate valid from the date of the examination, and what does the distributor need to do thereafter to continue distributing?

A NISM certificate is valid for 3 years from the examination date. To continue distributing PMS, the distributor must renew the certification by clearing the exam again before it expires. It is neither annual, nor five-year, nor lifetime.

  1. A1 year; re-appear every year
  2. B3 years; renew the certification before expiryCorrect
  3. C5 years; renew through a fee payment only
  4. DLifetime; no renewal

Explanation

The NISM certificate is valid for 3 years from the date of the examination. To continue as a PMS distributor, the person must obtain a fresh certification by passing the exam again before the validity lapses. The other options state wrong periods or wrongly say no renewal is needed.

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