Mutual Funds · Beginner
SEBI, AMFI and the rules of the road
Who runs a mutual fund, how funds are classified, what costs mean, and what you may and may not say to a client.
What is inside
6 short lessons. Each ends with a quiz, so you know what you have learnt.
Who is who, and how funds are sorted
- Who runs a mutual fund: sponsor, trustee, AMC, custodian
- Categories, riskometer and true-to-label investing
- Costs: expense ratio, loads and direct vs regular
Selling by the rules
- KYC, nomination and a clean paper trail
- What you may and may not say: advertising and mis-selling
- When things go wrong: grievances and investor protection
Key ideas you will take away
- Fund = trust; AMC manages.
- Custodian holds the securities.
- Compare within category.
- Riskometer shows risk, not return.
- TER is inside the NAV.
- Direct = no commission.
Try a question
Q1. Who holds the securities a mutual fund buys?
- The AMC's treasury team
- The distributor
- The custodian
- The registrar
Show the answer
C. A separate custodian holds the securities. That separation protects unit holders if the AMC has trouble.
Q2. Why does SEBI define fund categories?
- To guarantee returns
- To fix fund charges
- To stop funds changing manager
- So funds with the same label follow similar rules
Show the answer
D. Categories make funds of one label comparable and stop style drift. They do not promise returns.
Frequently asked questions
Is the SEBI, AMFI and the rules of the road course free?
Yes. Lessons, quizzes and practice are free. Sign in once with your mobile number or Google to start.
Who is the SEBI, AMFI and the rules of the road course for?
It is a beginner-level course with 6 short lessons, written in plain language for beginners and for people who advise others on money.
Can I learn this in Hindi or Gujarati?
The app screens switch between English, Hindi and Gujarati at any time, and many quiz questions have translations. Lesson text is in English for now.
Do I get a certificate?
Yes. Pass the course exams to earn a certificate that anyone can verify online.
Is this investment advice?
No. It is education only. Speak to a qualified adviser before you act on your own money.
Related courses
UpperCrust Academy is independent study material from UpperCrust Wealth. It is not affiliated with NISM, SEBI or AMFI. For education only. Not investment advice. Always confirm the latest syllabus and rules on the official NISM website.