This section Covers..
01. The AMFI Test Programme: Objective
02. AMFI Mutual Fund Certification
03. Certification Is Mandatory
04. A Self-Study Workbook for the Test Preparation
05. What is the nature of the test?
06. Where to get the Workbook?
07. Who Can Take the Test?
08. Where Will the Test Be Conducted?
Mutual funds are emerging as an important financial intermediary for the investing public in India. Conceptually and operationally they are different. The investors need to understand the working of a mutual fund and the increasingly diverse and complex investment options brought to them by a large number of mutual funds. AMFI believes that the key channel in bringing the mutual funds to a large number of investors all over the country is the network of INTERMEDIARIES/DISTRIBUTORS.
The intermediaries/distributors have to take on the role of financial advisors to investors, a role for which they need preparation. AMFI Mutual Fund Certification and Registration Programme has been put together to give the fund distributors the knowledge and insights required for them to become both better intermediaries and more informed mutual fund advisors. Even mutual fund employees need to understand the complexities of how the funds function internally and externally
Test Programme
AMFI Mutual Fund Certification is based on a testing programme. There are two Modules of the test. The first is the AMFI Mutual Fund (Basic) Module. This is a general test covering the concept, structure and other essential general topics. This is meant for all employees of Mutual Funds (other than those who are engaged in selling and marketing activities), general public and for those who would like to have a basic knowledge of concept and working of Mutual Funds. Any one who desires to acquire knowledge of the functioning of the mutual fund without seeking to become a fund distributor can take part one test independently.A certificate will be issued separately for Basic Module test to the successful candidates.There is no validity period for the AMFI-Mutual Fund (Basic) Module certification.
The second is the AMFI Mutual Fund (Advisors) Module and it covers subjects such as financial planning, risks in fund investing, model portfolio selection in addition to the subjects covered under the Basic Module and constitute a single certification programme which is designed for certification of fund distributors or intermediaries engaged in selling mutual fund schemes, employees of corporate intermediaries and employees of mutual funds who are engaged in selling and marketing activities.The validity period for the AMFI-Mutual Fund (Advisors) module certification is for five years.
Certification Is Mandatory
The Securities and Exchange Board of India (SEBI) has made mandatory for any entity / person engaged in marketing and selling of mutual fund products to pass AMFI certification test (Advisors Module) and obtain registration number from AMFI. Firms and corporates will have to obtain certification of registration from AMFI and all employees of corporate distributors engaged in selling and marketing of mutual fund products have to pass the AMFI certification test (Advisors Module) and obtain registration with AMFI before canvassing business of mutual funds.
A Self-Study Workbook for the Test Preparation
AMFI has prepared a special comprehensive study material to help you prepare for the Mutual Fund Test. The Testing Programme Workbook gives a detailed presentation of all relevant topics in a textbook manner with adequate references and suggested additional reading for each chapter. Also, questions are indicated for different subjects as illustrative examples. The book is structured and meant for self-study. The same can be obtained from the AMFI office.
The second edition of the workbook was released in 2001 and the same has now been thoroughly revised to include updated SEBI Regulations and a separate section on "Business Ethics in Mutual Funds". The third edition has been released in May 2006 by AMFI. (Next --> Syllabus)
| More | 1 | 2 | 3 |
