New Delhi, Dec. 15 -- The Securities and Exchange Board of India (Sebi) and the Association of Mutual Funds in India (Amfi) are in talks to make the Specialized Investment Fund (SIF) exam easier and more relevant, said three people aware of the discussions.

The discussions are centred around easing the National Institute of Securities Markets' NISM XIII (derivatives) exam, which is mandatory for obtaining a license to distribute SIFs. Some of the options considered so far are to remove a portion of currency derivatives from the exam or to introduce levels within the exam structure, to ensure that mutual fund (MF) distributors are tested on topics relevant to the SIFs they sell.

The exam consists of three sections: currency derivatives, ...