NISM Essentials / Series XIX-C

NISM Series XIX-C

AIF management, learned the lean way.

₹499₹69929% off

NISM Series XIX-C covers AIF categories, fund structuring, private equity and venture capital mechanics, fund performance, benchmarking, governance, due diligence, valuation, taxation and SEBI compliance. Essentials trims it into chapter-wise playbooks, practice questions and mocks, so you can cover a large syllabus without the fluff.

300+ questions

Chapter-wise practice for AIF categories, valuation, taxation and regulation.

5 mocks

Three to clear and two bonus, built around the exam rhythm.

17 chapters mapped

The full XIX-C syllabus organised by chapter and marks allocation.

Self-paced

Built for busy schedules, study whenever it fits.

Why NISM Essentials

Lean prep for a heavy AIF syllabus

Built for busy schedules, focused on the exam, and heavy on practice.

300+ questions

Chapter-wise practice questions to reinforce concepts as you learn them, not just at the end.

5 mocks

Five full-length mocks, three to clear and two bonus, so the real exam feels familiar.

Focused prep

Aligned to the XIX-C syllabus, including AIF structures, strategies, valuation, taxation and regulation.

Time-smart

Trimmed to exactly what you need, so you spend less time searching and more time preparing.

The syllabus

Every chapter, mapped to the exam

Open a chapter to see what it covers and what you should be able to do by the end.

01Investments Landscape2 marks group
What it covers
Meaning of investment, savings and speculation
Investment objectives: preservation, appreciation, income and tax saving
Required rate of return, inflation and risk premium
Key investment risks and overview of Indian securities markets
By the end

Understand the investment landscape and the risk-return foundation used before studying AIFs.

02Types of Investments2 marks group
What it covers
Traditional investments vs alternative investments
Types of traditional and alternative asset classes
Channels for making investments
Role of alternative investments in portfolio management
Growth and evolution of alternative investments
By the end

Classify traditional and alternative investments and explain why alternatives are used in portfolios.

03Concept of Informational Efficiency2 marks group
What it covers
Informational efficiency vs operational efficiency
Efficient markets and random walk theory
Efficient Market Hypothesis tests and results
Market anomalies
Implications for valuation and portfolio management
By the end

Connect market efficiency concepts with valuation, portfolio construction and fund strategy decisions.

04Introduction to Modern Portfolio Theory3 marks group
What it covers
Modern Portfolio Theory framework and assumptions
Risk preferences: risk averse, seeking and neutral investors
Expected return and variance for securities and portfolios
Efficient frontier and portfolio optimisation
Estimation issues in portfolio construction
By the end

Use the MPT framework to understand diversification, portfolio risk and efficient portfolios.

05Introduction to Capital Market Theory3 marks group
What it covers
Capital Market Theory and its assumptions
Capital Market Line and diversification of risk
Market risk vs non-market risk
CAPM and Security Market Line
Empirical tests and multi-factor models
By the end

Explain the link between risk, expected return, CAPM and market portfolio thinking.

06Alternative Investment Funds in India and its Suitability5 marks
What it covers
Evolution and growth of AIFs in India
Types and categories of AIFs
Comparison of AIF categories
Suitability of AIF products for investors
AIFs in diversification and risk management
By the end

Identify AIF categories and assess their suitability within investor portfolios.

07Alternative Investment Fund Ecosystem5 marks
What it covers
Key concepts prevalent in the AIF industry
Roles of sponsor, manager, trustee, investors and service providers
Fund commitments, drawdowns, units and distributions
Governance and operating vocabulary used in AIFs
By the end

Understand the AIF ecosystem and the roles of stakeholders involved in fund operations.

08Alternative Investment Fund Structuring10 marks
What it covers
Principle of pooling and pooling considerations
Buy-out transactions
Anatomy of AIF constitution
Common fund structures of AIFs
Comparative analysis of fund structures
By the end

Read AIF structures and understand how legal, pooling and constitution choices shape the fund.

09Fee Structure and Fund Performance20 marks
What it covers
Management fees and other expenses
Hurdle rate and high-water mark
Risks and risk measures in AIFs
Return measures in alternative investments
Pre-tax, post-tax and risk-adjusted performance metrics
By the end

Calculate and interpret AIF fees, risk measures and performance metrics with exam-level clarity.

10Indices and Benchmarking5 marks
What it covers
Meaning and uses of indices
Factors differentiating indices
Index methodologies
Stock, bond and composite indices
Performance benchmarking for funds
By the end

Use indices and benchmarks to evaluate fund performance and compare investment outcomes.

11Investment Strategies, Investment Process and Governance of Funds20 marks
What it covers
Strategies used by Category I and II AIFs
Strategies used by Category III AIFs
Deal sourcing and investor due diligence
Definitive agreements and investor protection rights
Governance structure, conflict management, co-investments and code of conduct
By the end

Map AIF strategies to categories and understand the governance process behind fund management.

12Fund Due Diligence - Investor Perspective10 marks
What it covers
Fund due diligence framework
Investment due diligence by investors
Manager evaluation and manager selection
Key man clause
Due diligence on legal documents and conflict mitigation
By the end

Evaluate an AIF from an investor perspective using due diligence and manager-selection lenses.

13Legal Documentation and Negotiations10 marks
What it covers
Trust deed, LLP deed, MOA and AOA
Investment Management Agreement
Subscription agreement
Private Placement Memorandum
Wrapper and support services agreements
By the end

Understand the main AIF legal documents and the negotiation points attached to each.

14Valuation10 marks
What it covers
Fixed income, equity and business valuation basics
Asset-based valuation, DCF and relative valuation
Valuation of AIF portfolio investments
Fund valuation and Category III NAV computation
Valuation regulations, registered valuers and unit-value reporting
By the end

Apply valuation approaches and understand how AIF portfolio and unit values are reported.

15Fund Monitoring, Reporting and Exit10 marks
What it covers
Monitoring AIF progress and performance
Regulatory framework for monitoring and reporting
Fund reporting
Exit options and secondary exits
Winding up, liquidation process and dissolution period
By the end

Track fund performance, reporting duties and exit routes across the AIF life cycle.

16Taxation20 marks
What it covers
Taxation of Category I and Category II AIFs
Taxation of Category III AIFs
Surcharge rates
Set-off and carry-forward of losses
GAAR, MLI and other applicable taxes
By the end

Handle the major tax rules that affect AIF funds and investors in exam scenarios.

17Regulatory Framework20 marks
What it covers
SEBI AIF Regulations, registration and eligibility
Sponsor and manager commitment, fund tenure and corpus rules
Accredited investor and large value fund framework
Investment conditions, Category III norms and general obligations
FEMA, PMLA, PIT, PFUTP, FPI, FATCA and CRS requirements
By the end

Navigate the regulatory obligations that govern AIF formation, operation, disclosure and compliance.

The study toolkit

Four ways you learn it

Every chapter is covered four ways, so commodity derivatives concepts stay exam-ready.

01

Playbooks

Chapter-wise visual playbooks for commodity derivatives, with diagrams, glossary cues and worked examples.

02

Sprint notes

Fast sprint recaps with tables and process maps to lock everything in before exam day.

03

Practice questions

Over 300 chapter-wise practice questions that reinforce securities, RTA and regulatory concepts as you go.

04

Mock papers

Five full-length mock papers, three to clear and two bonus, that mirror the Series II-A exam.

Lean, focused prep, built to get you through NISM Series XIX-C and into the AIF management syllabus with clarity.

Enroll in course
Student voices

Proof, not promises

The AIF syllabus looked huge at first, but the chapter mapping made it feel organised and finishable.

KK Krishna KaulAIF learner

Fees, hurdle rates and high-water marks finally made sense after the practice-heavy explanations.

RM Riya MenonFund strategy learner

The course connected AIF categories, fund structures and investment strategies without making it feel scattered.

AV Arjun VermaPrivate markets learner

The regulatory framework section saved me. SEBI AIF rules, FEMA and PMLA became easier to revise.

NP Neha PatelCompliance trainee

Due diligence, documentation and governance felt very theoretical before. The playbooks made them practical.

DJ Danish JainAIF operations

Valuation and benchmarking were the hardest chapters for me. The examples and mocks made them manageable.

SI Sara IqbalValuation learner

Concise notes, exam-style questions and chapter-wise structure helped me cover the full XIX-C syllabus properly.

RD Rohan DesaiFund management learner