Why Step-by-Step Calculations Matter for Series V-A
In the real NISM 5A exam, numerical questions on NAV, TER slabs, cut-off timings, and capital gains decide whether you clear the 50% cutoff. Here is how both platforms explain a real question:
"A growth scheme has total portfolio assets valued at ₹270 Crores and accrued management fees and liabilities of ₹30 Crores. If the scheme has 12 Crore units outstanding, what is the Net Asset Value (NAV) per unit?"
Correct Answer: B (₹20.00)
"NAV is calculated as assets minus liabilities divided by units. ₹270 - ₹30 = ₹240 / 12 = ₹20. Hence Option B is correct."
Correct Answer: Option B (₹20.00)
Net Assets = ₹270 Cr - ₹30 Cr = ₹240 Cr
NAV = ₹240 Cr ÷ 12 Cr units = ₹20.00 per unit
SEBI Valuation Context: NAV must be computed daily up to 4 decimal places for liquid schemes and 2 decimal places for equity schemes as per SEBI regulations.
Series V-A Feature Matrix: SurePass vs Pass4Sure
Comparing every parameter that determines your preparation quality and pass probability.
| Key Evaluation Criteria | SurePass (Recommended) | Pass4Sure |
|---|---|---|
| Starting Price for Series V-A | ₹199 all-inclusive (zero hidden GST or checkout surprises). | ₹499 + 18% GST (comes to ₹589+ at checkout). |
| Access Validity Duration | 30 Days (₹199), 90 Days (₹299), or 180 Days (₹499) — 3x the study runway. | 10 Days, 30 Days, or 60 Days max. Short 10-day window forces expensive repurchases. |
| Effective Cost per Day | ₹2.70 to ₹6.60 / day of active preparation. | ₹10.00 to ₹58.90 / day (up to 9x more expensive per day). |
| Question Bank Volume | 1,500+ Questions across 20 chapter-wise practice sets + full-length timed mock exams. | Approx. 400–600 questions across limited test sets. |
| Step-by-Step Numerical Calculations | Complete mathematical breakdowns for NAV, TER slabs (Reg 52), cut-off timings, and 12.5% LTCG tax rules. | Typically one-line static answers or direct book quotes without intermediate calculation steps. |
| 2026 SEBI Circulars & Tax Updates | 100% verified against revised capital gains tax (12.5% LTCG > ₹1.25 Lakh), updated TER tiers, and T+1 settlement. | Mix of legacy and newer questions; some tests retain obsolete 10% LTCG rules. |
| Test Simulator & Mobile UX | Modern Next.js test hall simulator matching real NSE/NISM exam screen; 100% mobile responsive. | Dated 2012 web design; difficult to navigate on mobile browsers without horizontal pinching. |
| Free Diagnostic Demo | Instant 10-question full diagnostic test with zero sign-in, mobile OTP, or credit card required. | Sample questions locked behind registration and phone number verification. |
| Attempt Limits | Multiple generous retakes per test paper to master difficult concepts. | Strictly capped at 10 attempts per paper. |
Frequently Asked Questions: Series V-A
Common questions from candidates preparing for the Mutual Fund Distributors certification.
Disclaimer: Pass4Sure is a registered trademark of its respective owner. SurePass is an independent online preparation platform and is not affiliated with, endorsed by, or connected to Pass4Sure or the National Institute of Securities Markets (NISM). Product features, pricing, and access parameters reflect publicly available information as of 2026 and are compared under nominative fair use principles for consumer information.