NP

NISM Series X-A

Investment Adviser (Level 1)

X-A chapters / Module 4: Investment Through Managed Portfolio

Chapter 13. Overview of Alternative Investment Funds (AIFs)

SEBI's AIF framework: investment and accredited-investor rules, the three categories, the main fund types, and recent changes to angel and large value funds.

Total watch time 12 min · Hindi audio

Key topics

  • Alternative investments and the evolution of AIFs
  • Investment conditions: ₹20 crore corpus, ₹1 crore minimum, 1,000 investors
  • Accredited investors, angel funds and large value funds
  • Category I, II and III AIFs
  • Fund types: VC, PE, debt, infrastructure, hedge, social impact

Chapter test

25 multiple-choice questions with explanations. Score 60% or more to complete this chapter.

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Practice questions are based on the NISM Series X-A workbook (February 2025), updated for later SEBI/RBI changes up to November 2026. Always check the latest NISM syllabus before your exam. Video lessons on YouTube ↗