NISM Series XIX D Category I and II AIF Managers Mock Test 2026

The NISM Series XIX D Category I and II AIF Managers certification is intended for key investment team members of Category I and Category II Alternative Investment Funds registered with SEBI. Like other NISM examinations it is offered on a rolling basis at test centres across India, so your exam date is whichever slot you book rather than a fixed national date.

Category I and Category II funds cover venture capital, angel funds, social impact and infrastructure funds, together with private equity and debt funds that do not use leverage for investment. The workbook covers the SEBI AIF regulatory framework and what distinguishes these categories, fund structuring and governance, the investment process and due diligence, valuation of unlisted holdings, fund accounting, distribution waterfalls, and the reporting and compliance obligations that fall on the manager.

Set 1 of this series is free and runs on the real exam pattern, with an explanation on every answer and a unit wise score report so you can see which chapters of the workbook still need another pass.