AMFI Code of Conduct
60 practice questions on this topic
Under SEBI (Mutual Funds) Regulations, 1996, within how many working days must a mutual fund dispatch redemption proceeds to investors?
EXPLANATION
SEBI (Mutual Funds) Regulations, 1996 prescribe that redemption proceeds must be dispatched to investors within 10 working days from the date of redemption request. Failure attracts interest penalty payable to the investor.
What is the Key Information Memorandum (KIM) in the context of mutual funds?
EXPLANATION
The KIM is a condensed, investor-friendly summary of key scheme features — including investment objective, asset allocation, load structure, NAV, benchmark, fund manager, and risk factors. It must accompany every application form and is free to investors.
What is the significance of the EUIN being quoted on a transaction form?
EXPLANATION
EUIN (Employee Unique Identification Number) on a transaction form identifies the specific relationship manager or employee who interacted with and advised the investor. This creates individual accountability and enables AMFI/SEBI to trace mis-selling to a specific person.
Which of the following entities does NOT need an AMFI registration to sell mutual funds?
As per SEBI regulations, can a mutual fund distributor also be a Registered Investment Adviser (RIA)?
For how many years is an ARN valid before it must be renewed?
What is the concept of 'Beneficial Ownership' under PMLA as applicable to mutual fund investors?
Can a distributor with an expired ARN continue to earn trail commission on existing AUM?
Within how many days after the NFO closes must an open-ended scheme reopen for ongoing purchases and redemptions?
Which of the following is a function of AMFI?
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