NISM V-A Chapter 7: NAV & TER Formulas for 8 Marks (2026)
NISM V-A Chapter 7 covers NAV formula, TER limits (SEBI slabs), and cut-off rules. Get the 8 marks for calculation questions guaranteed on every paper.
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TER in Mutual Funds Calculation: SEBI Rules 2026 Explained
TER is calculated by dividing annual operating costs by average daily net assets. SEBI caps equity TER at 2.25%. A 0.10% TER difference costs ₹1.4 lakh on ₹10 lakh over 20 years.