NISM- VA-CHAPTER 8- TAXATION-MONK TEST

NISM- VA-CHAPTER 8- TAXATION-MONK TEST

The below NISM VA Mock Test is based on Chapter 8, “TAXATION”.  The NISM VA (Mutual Fund Distributors Certification Examination) course has twelve chapters.

We plan to give our readers a chapter-wise mock test series for the NISM VA exam. The reader should first read the complete test material PDF provided by NISM for the chapter “TAXATION“, then try out the mock test series to check and sharpen their knowledge.

NISM VA Exam questions are mainly framed to check the student’s understanding of the topics and a deep knowledge of the subject. There is no fixed pattern of MCQs. The student has to read the complete material provided by NISM and then try out the given mock test to check their knowledge. This mock test will give the readers the required practice for their final exam.

NISM-Series-VA. Mutual Fund Distributors Certification Examination.

The exam is taken online at the centers allotted by NISM. There are a total of 100 MCQ Questions.

Readers can get complete information about the NISM VA Mutual Fund Distributor Exam on the official website of NISM. www.nism.ac.in

NISM- VA-CHAPTER 8- TAXATION-MONK TEST

NISM- VA-CHAPTER 8- TAXATION-MONK TEST

1 / 11

Which of the following statements about Securities Transaction Tax (STT) is true?

STT is not applicable on purchase of units of an equity scheme.

STT is also not applicable to transactions in debt securities or debt mutual fund schemes.

STT applicability for Investors while selling Units of Equity oriented Mutual funds

All statements are true.

2 / 11

Long-term capital gains tax on Equity Oriented scheme is _______ .

 

10%

15%

20%

25%

3 / 11

Short-term capital gains tax on Equity Oriented scheme is _______.

10%

15%

20%

25%

4 / 11

Long-term capital loss in MF can  be set off against long-term capital gain or short-term capital gain in MF

True

False

can't say

Non of these

5 / 11

Short-term capital loss in MF  can be set off against short-term capital gain or long-term
Capital gain in MF. This statement is

false

true

can't say

Non of these

6 / 11

On the Transfer of mutual fund units, such as transfers between demat accounts.

The Stamp duty is applicable @ _______ %.

0.010

0.020

0.015

0.025

7 / 11

Stamp Duty on Mutual Fund Units purchase is applicable @ ______ % of the amount invested

0.004

0.005

0.006

0.006

8 / 11

Suppose an Investor opted for the IDCW option in the mutual fund Scheme.

Which of the following statements is true about their Capital gain tax?

They are exempted from Capital Gain Tax

They have to pay tax as per the applicable rate of tax based on the total income for the year

They have to pay 10% tax on earned Capital Gain

Non of these

9 / 11

The first ________ lakhs worth of long-term capital gain is tax-exempt.

1.00 Lakhs

1.25 Lakhs

1.50 Lakhs

2.00 Lakhs

10 / 11

Investor earns the Capital Gain on his Mutual Fund investment when?

When puchase price of MF units is more than the selling price of Units

When selling price of MF units is more than Purchase price of Unit

when selling price and Puchase price is same

Non of these

11 / 11

While investing in a Mutual Fund scheme, the Investor has two options to choose  1. Growth option and 2. IDCW option

What is fullform of IDCW

Income divident cum capital withdrawal

Income divide cum capital withdrawal

Income distribution cum capital withdrawal

Non of these

Your score is

The average score is 73%

0%

Restart quiz

Readers would also like to try following the Monk Test

1. . NISM VA – MOCK TEST on Chapter 1

2.. NISM VA – MONK TEST on CHAPTER 2

3. NISM VA – MONK TEST on CHAPTER 3

4. NISM- VA – MONK TEST on CHAPTER 4

5. NISM- VA – CHAPTER 5 on MONK TEST

6. NISM- VA – CHAPTER 6 on MONK TEST

7. NISM- VA – CHAPTER 7 on MONK TEST

8. NISM- VA – CHAPTER 8 on MONK TEST

9. NISM- VA – CHAPTER 9 on MONK TEST

10. NISM- VA – CHAPTER 10 on MONK TEST

11. NISM- VA – CHAPTER 11 on MONK TEST

12. NISM- VA – CHAPTER 12 on MONK TEST

NISM VA Practice Test Series — 100 Questions each

NISM VA Practice Paper 1 — 100 Questions

NISM VA Practice Paper 2 — 100 Questions

NISM VA Practice Paper 3 — 100 Questions

NISM VA Practice Paper 4 — 100 Questions

NISM VA Practice Paper 5 — 100 Questions

NISM VA Final Preparation Test – 150 Questions