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Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
1 | NISM Series I: Currency Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working in the Currency Derivatives market segment, in order to enable a better understanding of currency markets and exchange-traded currency futures products, better quality investor service, operational process efficiency and risk controls.
Examination Objectives:
On successful completion of the examination, the candidate should:
- Know the basics of currency markets and specifically Exchange Traded Currency Derivatives markets. This is the addition.
- Understand the trading, clearing and settlement mechanisms related to Currency Derivatives markets and basic investment strategies that use currency futures and options products.
- Know the regulatory environment in which the Currency Derivatives markets operate in India.
Assessment Structure:
The NISM-Series-I: CD Examination will be a 100 marks examination to be completed in 2 hours. It will have 100 questions of 1 mark each. There will be negative marking of 25% of the marks assigned to a question. The passing score for the currency derivatives exam is 60%.
This NISM Currency Derivatives Certification is also available in Hindi and Gujarati languages.
Test Details:
Name of Examination: NISM-Series-I: Currency Derivatives Certification Examination
* Negative marking–25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
- 1500+
- 120
- 100
- 100
- 60
- 3
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 2 | NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working in Registrars to an Issue and Share Transfer Agents (R&T agent) organizations in the corporate R&T function, in order to enable better quality investor service, operational process efficiency and risk controls.
Examination Objectives
On successful completion of the registrar and transfer agents exam, the candidate should:
- Know the basics of securities and securities markets
- Understand broadly the role and functions of the RTAs in the corporate securities issuance and transaction process.
- Know the regulatory environment in which the RTAs operate in India.
Assessment Structure
The Examination will consist of 100 questions of 1 mark each adding to 100 marks. The examination should be completed in 2 hours. There shall be negative marking of 25% of the marks assigned to a question. The passing score for the registrar and transfer agents examination will be 50 marks.
Test Details:
Name of Module: NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate Certification Examination
* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
#Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
3 | NISM Series I: Currency Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working in Registrars to an Issue and Share Transfer Agents (R&T agent) organizations in the mutual fund R&T function, in order to enable better quality investor service, operational process efficiency and risk controls.
Examination Objectives
On successful completion of the registrars and transfer agents examination, the candidate should:
Know the basics of securities and securities markets
Understand broadly the role and functions of the RTAs in the mutual fund issuance and transaction process.
Know the regulatory environment in which the RTAs operate in India.
Assessment Structure
The registrars and transfer agents examination will consist of 100 questions of 1 mark each, adding to 100 marks. The examination should be completed in 2 hours. There shall be negative marking of 25% of the marks assigned to a question. The passing score for the examination will be 50 marks.
Test Details:
Name of Module: NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination
* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
4 | NISM Series I: Currency Derivatives Certification Examination NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for all persons engaged in the compliance function with any intermediary registered as Stock, Depository, Sub-brokers, Participants, Merchant Bankers, Underwriters, Bankers to the Issue, Debenture Trustees and Credit Rating Agencies.
Examination Objectives:
On successful completion of the Securities Intermediaries Compliance examination, the candidate should:
Understand the structure of financial and securities markets in India; financial intermediaries and the types of products available in the Indian market.
Understand the regulatory framework and the role of the various regulators in the financial system.
Understand the Importance of Compliance function and the scope and role of the compliance officer in the Indian securities market.
Understand the various regulations and rules of the Indian securities market as related to the defined group of intermediaries.
Understand the importance of compliance of the rules and regulations and the penal actions initiated in case of any default or failure.
Assessment Structure
The Securities Intermediaries Compliance examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the NISM certification examination is 60%. There shall be negative marking of 25% of the marks assigned to a question.
Test Details
Name of Module: NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination
*: Negative marking – 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) | |
|---|---|---|---|---|---|---|---|---|---|
5 |
| 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
The examination aims to enable a better understanding of various compliances which needs to be adhered to by associated persons working as compliance officers in listed companies.
Examination Objectives:
On successful completion of the examination, the candidate should:
Know the role and responsibilities of a Compliance officer of a listed company
Understand the various avenues for raising funds from the Indian and global market and the various compliance requirements for the same
Know the laws and regulations that need to be adhered to by a public company with respect to issues, corporate actions, and day-to-day compliance requirements.
Know the various penalties for non-compliance with regulations and requirements as specified in various Regulations
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be negative marking of 25% of the marks assigned to a question.
Test Details
Name of Module: NISM-Series-III-B: Issuers Compliance Certification Examination
*: Negative marking – 25% of the marks assigned to the question
+Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 6 | NISM Series I: Currency Derivatives Certification Examination NISM Series IV: Interest Rates Derivatives Certification Examination NISM Series IV: Interest Rates Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working in the Interest Rate Derivatives market segment, in order to enable a better understanding of fixed-income securities markets and interest rate derivative products, regulations, and risks associated with the products and the exchange mechanisms of clearing and settlement.
Examination Objectives:
On successful completion of the Interest Rate Derivatives examination, the candidate should:
- Know the basics of fixed-income securities markets and specifically interest rate derivative markets in the Indian and developed world.
- Understand the analytical framework required for the Bond Futures market in India along with trading and hedging strategies involved
- Understand the clearing, settlement, and risk management as well as the operational mechanism related to interest rate derivatives markets
- Know the regulatory environment in which the interest rate derivatives markets operate in India.
Assessment Structure:
The NISM-Series-IV: Interest Rate Derivatives Examination will be of 100 marks, will have 100 questions, and should be completed in 2 hours. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.
Test Details:
Name of Module: NISM-Series-IV: Interest Rate Derivatives Certification Examination
* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
- 1500+
- 120
- 100
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 7 | NISM Series I: Currency Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | – | 3 |
The examination seeks to create a common minimum knowledge benchmark for all persons involved in selling and distributing mutual funds including:
- Individual Mutual Fund Distributors
- Employees of organizations engaged in sales and distribution of Mutual Funds
- Employees of Asset Management Companies specially persons engaged in sales and distribution of Mutual Funds
The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.
Examination Objectives:
On successful completion of the Mutual Fund Distributors examination, the candidate should:
- Know the basics of mutual funds, their role and structure, different kinds of mutual fund schemes and their features
- Understand how mutual funds are distributed in the market-place, how schemes are to be evaluated, and how suitable products and services can be recommended to investors and prospective investors in the market.
- Get oriented to the legalities, accounting, valuation and taxation aspects underlying mutual funds and their distribution.
- Get acquainted with financial planning as an approach to investing in mutual funds, as an aid for mutual fund distributors to develop long term relationships with their clients.
Assessment Structure:
The Mutual Fund Distributors examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be no negative marking.
Test Details:
Name of Module: NISM-Series-V-A: Mutual Fund Distributors Certification Examination
* No negative marks for incorrect answers.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 8 | NISM Series I: Currency Derivatives Certification Examination NISM-SeriesV-B: Mutual Fund Foundation Certification Examination | 2hrs | 1200/- | 50 | 50 | 50 | – | 3 |
The examination seeks to create common minimum knowledge benchmark for a new cadre of mutual fund distributors, as per SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, involved in selling and distributing simple and performing mutual fund schemes:
- Postal agents
- Retired government and semi-government officials (class III and above or equivalent) with a service of at least 10 years
- Retired teachers with a service of at least 10 years
- Retired bank officers with a service of at least 10 years, and other similar persons (such as Bank correspondents) as may be notified by AMFI/AMC from time to time
The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.
Examination Objectives:
On successful completion of the Mutual Fund Foundation examination, the candidate should:
- Know the basics of mutual funds, their role and structure, different kinds of mutual fund schemes and their features
- Know how mutual funds are distributed in the market-place, how specified schemes are to be evaluated and how suitable schemes can be recommended by this cadre of distributors to prospective investors.
- Know the rules and regulations related to the distribution of specified products.
- Know the basics of financial planning as an approach to investing in mutual funds.
Assessment Structure:
The Mutual Fund Foundation examination consists of 50 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be no negative marking.
Test Details:
Name of Module: NISM-Series-V-B: Mutual Fund Foundation Certification Examination
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
9 | NISM Series I: Currency Derivatives Certification Examination NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination+ | 2hrs | 1770/- | 100 | 75 | 60 | 25 | 3 |
The examination seeks to enhance knowledge of associated persons, i.e., distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products, in order to enable a better understanding of features of advanced mutual fund products, fund valuation, fund performance measurements, investor service, and related regulations.
Examination Objectives
On successful completion of the examination the candidate should:
- Understand the salient features of Fund of Funds, Exchange-Traded Funds, Real Estate Mutual Funds, Venture Capital Funds, Private Equity Funds and International Funds
- Know the legalities of real estate mutual funds, investment restrictions applicable to mutual fund schemes, and the processes for making changes in the structure of a mutual fund or any of its schemes
- Understand how equities, debt, derivatives, and real estate are valued in mutual fund schemes
- Get oriented to the accounting aspects of NAV determination, investor transactions with the fund, and corporate actions by investee companies
- Know how taxation affects mutual fund schemes and investors
- Appreciate how schemes are evaluated
- Get acquainted with the issues involved in selling alternate investment products
Assessment Structure
- This is a computer-based examination with multiple choice questions.
- The examination consists of 50 multiple choice questions of 1 mark each and 25 multiple choice questions of 2 marks each and adding up to 100 marks.
- The examination should be completed in 2 hours.
- There shall be a negative marking of 25% of the marks assigned to a question.
- The passing score for the examination is 60 marks.
| No. of MCQs | Marks per question | Total |
| 50 | 1 | 50 |
| 25 | 2 | 50 |
| 100 |
Test Details
Name of Examination: NISM-Series-V-C: Mutual Fund Distributors (Level 2)
+ Inclusive of Service Tax. Payment Gateway Charges extra.
~ 50 multiple-choice questions of 1 mark each and 25 multiple-choice questions of 2 marks each (Total of 75 questions adding up to 100 marks).
* Negative marking – 25% of the marks assigned to the question.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
- 1770+
- 120
- 75
- 100
- 60
- 3
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
10 | NISM Series I: Currency Derivatives Certification Examination NISM Series VI: Depository Operations Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for associated persons engaged or employed by a registered depository participant in (a) dealing or interacting with clients, (b) dealing with securities of clients, (c) handling redressal of investor grievances, (d) internal control or risk management, (e) activities having a bearing on operational risk, or (f) maintenance of books and records pertaining to the above activities.
The certification aims to enhance the quality of services as rendered by the Depository Participants.
Examination Objectives
On successful completion of the examination, the candidate should:
Know the basics of the Indian securities market and the depository system, the need for a depository, and the key features of the depository system in India.
Understand the institutional structure of the depository system in India and the business partners of a depository.
Understand the regulatory framework in which the depositories and their DPs function, their eligibility criteria, registration procedure, rights, obligations, etc.
Know the various functions of the Depository and its Depository Participants (DPs) such as dematerialization, trading and settlement, pledging, and hypothecation.
Understand how a Demat account is opened, the documents required to open an account, and the significance of Power of Attorney (POA).
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be a negative marking of 25% of the marks assigned to a question.
Test Details:
Name of Module: NISM-Series-VI: Depository Operations Certification Examination
* Negative marking–25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 11 | NISM Series VII: Securities Operations and Risk Management Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark as the requisite standard for associated persons of a registered stock-broker / trading member/clearing member in recognized stock exchanges, involved in (a) assets or funds of investor or clients (b) redressal of investor grievances, (c) internal control or risk management and (d) activities having a bearing on operational risk.
Examination Objectives
On successful completion of the examination, the candidate should:
- Know the basics of the Indian securities market, the different products traded, the various market participants, and the respective roles they play in the Indian securities market.
- Understand the regulatory framework and the role of the Securities Exchange Board of India.
- Know the various functions of the Front Office, Middle Office, and Back Office in a Securities Broking Firm.
- Understand the trade life cycle, the steps and participants involved in the trade life cycle, and the role of the back office in a securities broking firm.
- Understand how the risks are managed in a securities broking firm, the clearing, and the settlement process.
- Understand the process of investor grievances redressal.
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be a negative marking of 25% of the marks assigned to a question.
Test Details:
Name of Module: NISM-Series-VII: Securities Operations and Risk Management Certification Examination
* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
12 | NISM-Series-VIII: Equity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for associated persons functioning as approved users and sales personnel of the trading member of an equity derivatives exchange or equity derivative segment of a recognized stock exchange.
The examination aims to enable a better understanding of various derivatives products available in equity derivatives markets, regulations and risks associated with the products, and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the equity derivatives segment.
Examination Objectives:
On successful completion of the examination, the candidate should:
Know the basics of the Indian equity derivatives market.
Understand the various trading strategies that can be built using futures and options on both stocks and stock indices.
Understand the clearing, settlement, and risk management as well as the operational mechanism related to equity derivatives markets.
Know the regulatory environment in which the equity derivatives markets operate in India.
Assessment Structure:
The NISM-Series-VIII: ED Examination will be a 100 marks examination to be completed in 2 hours. It will have 100 questions of 1 mark each. There will be a negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.
Test Details:
Name of Module: NISM-Series-VIII: Equity Derivatives Certification Examination
Fees (Rs.) | Test Duration(in minutes) | No. of Questions | Maximum Marks | Pass Marks*(%) | Certificate Validity(in years)# |
1500+ | 120 | 100 | 100 | 60 | 3 |
* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 13 | NISM Series-IX: Merchant Banking Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for employees working with SEBI registered Merchant Bankers, who
1. perform SEBI regulated activities such as initial public offer, further public offer, Open Offer, Buy-back, and Delisting;
2. deal with the issuers in connection with activities mentioned in (1) above;
3. deal with intermediaries associated with activities mentioned in (a) above;
4. act as designated Compliance Officer dealing with the activities mentioned in (a) above;
4. submit Due Diligence Certificates to SEBI in connection with the activities mentioned in (a) above;
The exam will further seek to ensure a basic understanding of various aspects of capital market functions, the processes involved in various functions of registered Merchant Bankers, and the regulatory environment in which it operates.
Examination Objectives:
The examination aims to enable a better understanding of various regulations in the Merchant Banking Domain. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market.
On successful completion of the examination, the candidate should:
- Know the basics of Merchant Banking in India.
- Understand the functioning of Merchant Bankers related to Issue Management Process, Substantial Acquisition of Equity Shares, Buyback of Equity Shares, and Delisting of Shares.
- Know the regulatory environment in which the Merchant Bankers operate in India.
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score on the examination is 60%. There shall be a negative marking of 25% of the marks assigned to a question.
Test Details
Name of Module: NISM-Series-IX: Merchant Banking Certification Examination
*: Negative marking – 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 14 | NISM Series I: Currency Derivatives Certification Examination NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination | 3hrs | 3000/+ | 150 | 135 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for an individual investment adviser or principal officer of a non-individual investment adviser, under SEBI (Investment Advisers) Regulations, 2013, and persons associated with investment advice.
NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is the level 1 examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination is the level 2 examination.
An individual investment adviser or principal officer of a non-individual investment adviser, registered under SEBI (Investment Advisers) Regulations, 2013 and persons associated with investment advice are required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination to fulfill the requirements under SEBI (Investment Advisers) Regulations, 2013.
The certification aims to enhance the quality of investment advisory and related services in the financial services industry.
Examination Objectives:
On successful completion of the Investment Adviser examination, the candidate should:
- Know the basics of personal financial planning, time value of money, evaluating the financial position of clients, debt management, and loans.
- Understand the Indian Financial Markets and Indian Securities market segments
- Get oriented to different kinds of investment products— equity, debt, derivatives, and managed portfolios such as mutual funds, portfolio management services, and alternative investment funds.
- Know about portfolio construction, performance monitoring, and evaluation.
- Understand operational aspects of investment management, key regulations, ethical issues for investment advisers, and grievance redress system.
Assessment Structure
The Investment Adviser certification examination consists of 90 independent multiple-choice questions and 9 cases/case-based questions and should be completed in 3 hours. The passing score for the examination is 60% which is 90 marks out of total of 150 marks. There shall be a negative marking of 25% of the marks assigned to a question for each wrong answer.
| Multiple Choice Questions [90 questions of 1 mark each] | 90 marks |
9 Case-based Questions [6 cases (each case with 5 questions of 1 mark each)] [3 cases (with 5 questions of 2 marks each] | 6*5*1 = 30 marks 3*5*2= 30 marks |
| Total | 150 marks |
Test Details
Name of Module: NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination
*: Negative marking – 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details
- 3000+
- 180
- 135
- 150
- 60
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
15 | NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination | 3hrs | 3000/- | 150 | 120 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for an individual investment adviser or principal officer of a non-individual investment adviser, under SEBI (Investment Advisers) Regulations, 2013 and persons associated with investment advice.
NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is the level 1 examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination is the level 2 examination.
An individual investment adviser or principal officer of a non-individual investment adviser, registered under SEBI (Investment Advisers) Regulations, 2013 and persons associated with investment advice are required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination to fulfill the requirements under SEBI (Investment Advisers) Regulations, 2013.
The certification aims to enhance the quality of investment advisory and related services in the financial services industry.
Examination Objectives
On successful completion of the Investment Adviser certification examination, the candidate should:
- Know the aspects of insurance planning, insurance products, and risk management.
- Understand the various retirement products and their features along with the role of Investment Advisers in retirement planning.
- Understand the importance of estate planning and the role of estate planning tools.
- Know the taxation aspects of different financial securities.
- Know the role of behavioral finance and risk profiling in providing comprehensive financial advice by the Investment Adviser.
Assessment Structure
The Investment Adviser (level 2) certification exam consists of 6 caselets with 5 multiple-choice questions of 2 marks each per caselet and 90 multiple-choice questions of 1 mark each adding up to 150 marks. The examination should be completed in 3 hours. There is a negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.
| Multiple Choice Questions [90 questions of 1 mark each] | 90*1 = 90 |
Case-based Questions | 6*5*2 = 60 |
Test Details
Name of Module: NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination
90 multiple-choice questions of 1 mark each and 6 caselets with 5 sub-questions of 2 marks each (Total 120 questions adding up to 150 marks).
*: Negative marking – 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
16 | NISM Series I: Currency Derivatives Certification Examination NISM Series-XII: Securities Markets Foundation Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 60 | – | 3 |
This examination is a voluntary examination.
The NISM-Series-XII: Securities Markets Foundation Certification Examination is for entry-level professionals, who wish to make a career in the securities markets. This NISM series examination will also be useful to all those individuals who are interested in acquiring a basic knowledge of the Indian Securities markets, including:
- Entry-level professionals in the securities markets
- Employees of intermediaries functioning in the securities industry
- Professionals in other industries interested in gaining knowledge of the securities markets
- Students
- Homemakers
- Teachers
The purpose of this exam is to impart basic knowledge of the Indian securities markets to the participants and related rules and regulations.
Examination Objective
On successful completion of the examination, the candidate should:
- Know the basics of the Indian Securities Markets.
- Know the various processes involved in Primary and Secondary Markets
- Understand the schemes and products in Mutual Funds and Derivatives Markets in India.
- Know the steps in the financial planning process.
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be no negative marking.
Test Details
Name of Module: NISM-Series-XII: Securities Markets Foundation Certification Examination
+: Inclusive of Service tax. Payment Gateway Charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 17 | NISM Series I: Currency Derivatives Certification Examination NISM Series-XIII: Common Derivatives Certification Examination | 3hrs | 3000/- | 150 | 150 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for:
- The approved users and sales personnel of the trading members of the Currency Derivatives Segment of a recognised stock exchange and trading in Currency Derivatives
- The approved users and sales personnel of the trading members who are registered as such in the Currency Derivatives Segment of a recognized stock exchange and trading in Interest Rate Derivatives
- The associated persons functioning as approved users and sales personnel of the trading members of equity derivatives exchange or equity derivative segment of a recognized stock exchange
The examination aims to enable a better understanding of various derivatives products available in the three derivatives segments (i.e., Equity Derivatives, Currency Derivatives, and Interest Rate Derivatives), regulations and risks associated with these products, and the exchange mechanisms of clearing and settlement. The NISM series examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to exchange-traded derivatives.
Examination Objectives:
On successful completion of the NISM series examination, the candidate should:
- Know the basics of the Indian derivatives market (covering Equity Derivatives, Currency Derivatives, and Interest Rate Derivatives).
- Understand the various trading and hedging strategies that can be built using futures and options.
- Understand the clearing, settlement, and risk management as well as the operational mechanism related to the derivatives markets.
- Know the regulatory environment in which the derivatives markets operate in India
Assessment Structure:
The NISM-Series-XIII: Common Derivatives Certification Examination will be a 150 marks examination to be completed in 3 hours. It will have 150 questions of 1 mark each. There will be a negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60% which is 90 marks out of the total marks of 150.
Test Details:
Name of Examination: NISM-Series-XIII: Common Derivatives Certification Examination
* Negative marking–25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
For more details, please refer to NISM’s Communiqué / Press Release for NISM-Series-XIII: Common Derivatives Certification Examination (NISM/Certification/Series-XIII: COM/2014/01 dated December 9, 2014) available in the “Circulars” section of NISM website.
- 3000+
- 180
- 150
- 150
- 60% or 90 marks
- 3
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 18 | NISM Series I: Currency Derivatives Certification Examination NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for Auditors (who are chartered accountants, company secretaries, or cost and management accountants as mentioned in SEBI Circular no. MRD/DMS/Cir-29/2008 dated October 21, 2008) and/or its employees or partners signing the internal audit report.
The exam will further seek to ensure an understanding of the regulatory framework under which the stock brokers perform their various activities, the operations performed by the Stockbrokers, and compliance and reporting requirements from an audit perspective.
Examination Objectives:
The examination seeks to create a common minimum knowledge benchmark for Independent Chartered Accountants, Company Secretaries, and Management Accountants, who carry out Internal Audit of the Operations of Stock Brokers/Clearing Members.
On successful completion of the examination, the candidate should:
- Know the regulatory framework under which the stock brokers perform their various activities.
- Understand the various operations performed by the Stockbrokers
- Understand the various compliance and reporting requirements from an audit perspective
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score on the examination is 60 percent. There shall be a negative marking of 25 percent of the marks assigned to a question.
Test Details
Name of Examination: NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination
*: Negative marking – 25% of the marks assigned to the question
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details
- 1770+
- 120
- 100
- 100
- 60
- 3
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) | |
|---|---|---|---|---|---|---|---|---|---|
| 19 |
| 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as research analysts under SEBI (Research Analyst) Regulations, 2014, individuals employed as research analysts and partners of a research analyst, engaged in preparation and/or publication of research reports or research analyses.
An associated person shall be required to pass the NISM-Series-XV: Research Analyst Certification Examination to fulfill the requirements specified under Regulation 7(2) of the SEBI (Research Analysts) Regulations, 2014.
The certification aims to enhance the quality of services provided by research analysts in the financial services industry.
Examination Objectives:
On successful completion of the examination, the candidate should:
- Know the basics of Indian Securities Markets and different terminologies used in equity and debt markets
- Know about the top-down and bottom-up approach to fundamental research
- Know the basic principles for micro and macro-economic analysis, the sources of different information for analysis, and the various macroeconomic variables affecting the analysis.
- Know the key industry drivers and sources of information for industry analysis.
- Understand the Qualitative and Quantitative dimensions with regard to Company Analysis.
- Know about the Fundamentals of Risk and Return, Valuation Principles, and the philosophy of various Corporate Actions.
- Understand the qualities of a good research report.
Assessment Structure
The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be a negative marking of 25% of the marks assigned to a question for each wrong answer.
Test Details
Name of Module: NISM-Series-XV: Research Analyst Certification Examination
+: Inclusive of Service Tax. Payment Gateway Charges extra.
*: Negative marking – 25% of the marks assigned to the question
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
20 | NISM Series I: Currency Derivatives Certification Examination NISM-Series-XVI: Commodity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
The Commodity Derivatives examination seeks to create a common minimum knowledge benchmark for associated persons functioning as approved users and sales personnel of the trading members in the commodity derivatives segment of a recognized stock exchange.
The examination aims to enable a better understanding of various derivatives products available in commodity derivatives markets, regulations and risks associated with the products, and the exchange mechanisms of trading, clearing, and settlement.
Examination Objectives
On successful completion of the Commodity Derivatives examination, the candidate should:
Know the basics of the Indian commodity derivatives markets.
Understand various trading strategies that can be built using commodity derivatives.
Understand the clearing, settlement and risk management as well as the operational mechanism related to commodity derivatives markets
Know the regulatory environment in which the commodity derivatives markets operate in India
Assessment Structure
The NISM-Series-XVI: Commodity Derivatives Certification Examination will be of 100 marks consisting of 100 questions of 1 mark each, and should be completed in 2 hours. There will be a negative marking of 25% of the marks assigned to each question. The passing score for the examination is 60%.
Test Details
Name of Module: NISM-Series-XVI: Commodity Derivatives Certification Examination
*Negative marking – 25% of the marks assigned to the question.
+Payment Gateway Charges extra.
#Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 21 | NISM Series I: Currency Derivatives Certification Examination NISM-Series-XVII: Retirement Adviser Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
This examination seeks to create a common minimum knowledge benchmark for individuals, proprietors, partners and representatives of a retirement adviser registered under PFRDA (Retirement Adviser) Regulations, 2016. The certification aims to enhance the quality of services provided by a retirement adviser in the financial services industry.
On successful completion of the examination, the candidate should:
- Know the fundamental concepts in Retirement Planning and the various investment products
- Learn about the Retirement Planning Process
- Understand the features and benefits of the National Pension System.
- Know the various evaluation tools and fund selection.
- Understand the strategies useful to investors in executing their retirement plans.
- Know the implications of specific situations of retirement planning and the ways to manage them.
- Know about regulatory structure and regulations which govern the activities of the retirement adviser
Assessment Structure:
This is a computer-based exam with multiple-choice questions. The examination consists of 100 questions of 1 mark each adding to 100 marks. The examination should be completed in 2 hours. There shall be a negative marking of 25% of the marks assigned to the question for each wrong answer. The passing score for this NISM series examination is 60 marks.
Test Details:
Name of Examination: NISM-Series-XVII: Retirement Adviser Certification Examination
* Negative marking–25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 22 | NISM-Series-XVIII: Financial Education Certification Examination+ | 2hrs | 1416/- | 50 | 50 | 50 | – | 3 |
The examination is created for those candidates who wish to assess their financial literacy and their understanding of various aspects of financial markets including banking, securities, insurance, and pension.
It seeks to ensure a basic understanding of the various aspects of an individual’s and/or a household’s financial planning by enhancing their financial literacy. This examination covers key concepts in financial literacy, various investment options, savings, and investment products, insurance and pension, retirement planning, stock market, caution against Ponzi schemes, tax savings options, investor protection, and investor grievance redressal.
Examination Objectives:
On successful completion of the examination, the candidate should:
- Know the key concepts of one’s financial life
- Understand the concept of financial planning and the steps involved
- Understand the importance of saving and budgeting and the power of compounding
- Familiarize with various investment options and saving and investment products
- Familiarize with Stock Markets and Mutual Funds
- Understand the concept and need of Insurance and various types of Insurance
- Understand the need for retirement planning and salient features of various pension products
- Be aware of various government schemes available for saving, investment, insurance, and pension needs
- Be aware of Ponzi schemes and financial fraud
- Know the Investor Grievance Redressal mechanisms developed by the financial sector regulators for investor protection
Assessment Structure:
The NISM-Series-XVIII: Financial Education Certification Examination will be a 50 marks examination to be completed in 2 hours. It will have 50 questions of 1 mark each. There will be no negative marking. The passing score for the examination is 50% (i.e., 25 marks out of the total marks of 50).
Test Details:
Name of Module: NISM-Series-XVIII: Financial Education Certification Examination
+ Inclusive of Service Tax. Payment Gateway Charges extra.
# Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
For more details, please refer to NISM’s Communiqué / Press Release for NISM-Series-XVIII: Financial Education Certification Examination (NISM/Certification/FE/2019/1 dated March 27, 2019) available in the “Circulars” section of the NISM website.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 23 | NISM Series I: Currency Derivatives Certification Examination NISM Series XIX-A: Alternative Investment Funds (Category I and II) Distributors+ | 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working as Distributors or Placement Agents in the Alternative Investment Fund domain in India and aims to enhance the quality of sales and distribution and enable better quality investor services. The examination focuses on Category I and Category II AIFs. NISM-Series-XIX-A is a voluntary examination.
Examination Objectives
On successful completion of the examination the candidate should:
· Know the basics of alternative asset class and the Alternative Investment Funds (Category I and II) markets in India.
· Understand the following in detail:
- General concepts are prevalent in the AIF industry.
- Structure, risk-return relationship, investment process, governance aspects, monitoring and exit strategies of AIFs.
- Importance of fund due diligence, legal documentation and negotiation skills along with the assessment of risk & return by the investors.
- Valuation process and methodologies followed by the AIFs for its investee companies.
- Various taxation aspects for the fund and its investors.
- Role and conduct of distributors in servicing the investors.
· Know the regulatory environment in which the AIFs (Category I and II) operate in India.
Assessment Structure
The examination consists of 80 multiple choice questions and 5 case-based questions (each case having 4 questions). The assessment structure is as follows:
| Multiple Choice Questions [80 questions of 1 mark each] | 80*1=80 |
| Case-based Questions [5 cases (each case with 4 questions of 1 mark each)] | 5*4*1=20 |
The examination should be completed in 2 hours. The passing score for the examination is 60. There shall be a negative marking of 25 percent of the marks assigned to a question.
Test Details
Name of Module: NISM Series XIX-A: Alternative Investment Funds (Category I and II) Distributors Certification Examination.
+ Inclusive of Goods and Services Tax (GST). Payment Gateway Charges extra.
~ 80 multiple choice questions of 1 mark each and 5 caselets with 4 multiple choice questions of 1 mark each (Total 100 questions adding up to 100 marks).
* Negative marking – 25% of the marks assigned to the question.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
- 1770+
- 120
- 100~
- 100
- 60*
- 3#
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) | |
|---|---|---|---|---|---|---|---|---|---|
24 |
| 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
The examination seeks to create a common minimum knowledge benchmark for persons working as Distributors or Placement Agents in Alternative Investment Fund domain in India and aims to enhance the quality of sales and distribution and enable better quality investor services. The examination focuses on Category III AIFs. NISM-Series-XIX-B is a voluntary examination.
Examination Objectives
On successful completion of the examination the candidate should:
-Know the basics of alternative asset class and the Alternative Investment Funds (Category III) markets in India.
-Understand the following in detail:
The ecosystem of AIF (Category III) and the role of its external service providers.
Role of Category III AIFs as a Risk Management Tool.
Fund structure, fee structure, performance measurement techniques and their interpretations, importance, and role of performance benchmarking.
Various investment strategies are involved and the investment due diligence process is followed by investors.
Concept of NAV, valuation techniques used, and role of third-party registered valuers.
Various taxation aspects for the fund and its investors, in both domestic and IFSC jurisdictions.
Role and conduct of distributors in servicing the investors.
-Know the regulatory environment in which the AIFs (Category III) operate in India.
Assessment Structure
The examination consists of 80 multiple choice questions and 5 case-based questions (each case having 4 questions). The assessment structure is as follows:
Multiple Choice Questions [80 questions of 1 mark each] | 80*1 = 80 |
Case-based Questions [5 cases (each case with 4 questions of 1 mark each)] | 5*4*1 = 20 |
The examination should be completed in 2 hours. The passing score for the examination is 60. There shall be a negative marking of 25 percent of the marks assigned to a question.
Test Details
Name of Module: NISM Series XIX-B: Alternative Investment Funds (Category III) Distributors Certification Examination
+ Inclusive of Goods and Services Tax (GST). Payment Gateway Charges extra.
~ 80 multiple choice questions of 1 mark each and 5 caselets with 4 multiple choice questions of 1 mark each (Total 100 questions adding up to 100 marks).
* Negative marking – 25% of the marks assigned to the question.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
25 | NISM-Series-XX-Taxation in Securities Markets | 2hrs | 1700/+ | 100 | 75 | 60 | 25 | 3 |
NISM-Series-XX-Taxation in Securities Markets Certification Examination seeks to create knowledge amongst market participants about the different taxation aspects in the Securities Markets.
NISM-Series-XX-Taxation in Securities Markets Certification Examination is a voluntary examination and is open to all. This examination can be taken by professionals who want to know about the different taxation aspects in the Securities Markets.
Examination Objectives
On successful completion of the examination, the candidate should:
Know the basics of the Indian Securities Market Structure, Participants, Products, and Features.
Know the basic concepts in Taxation, Capital Gains, Sources of Income, etc.
Understand the taxation of products available in the market viz., Equity, Debt, ESOPS, Exchange Traded Funds, Alternate Investment Funds, Real Estate Investment Trusts, Infrastructure Investment Trusts,s, and Derivative products.
Taxation in the hands of the Intermediaries, Foreign Portfolio Investors, IFSC, etc.
Assessment Structure
The examination consists of 75 multiple choice questions (50 questions of 1-mark each and 25 questions of 2-marks each), adding to a total of 100 marks. The assessment structure is as follows:
Multiple Choice Questions [50 questions of 1-mark each] | 50 * 1 = 50 marks |
Multiple Choice Questions [25 questions of 2-marks each] | 25 * 2 = 50 marks |
Total [75 questions] | 100 marks |
The examination should be completed in 2 hours.
The passing score for the examination is 60 marks (i.e., 60%).
There shall be a negative marking of 25% of the marks assigned to the question for each wrong answer (i.e., the applicable negative marking will be -0.25 marks in case of a 1-mark question and -0.50 marks in case of a 2-marks question).
Test Details
+ Inclusive of Goods and Services Tax (GST). Payment Gateway Charges extra.
~ 50 multiple choice questions of 1-mark each and 25 multiple choice questions of 2-marks each, adding to a total of 100 marks.
* Negative marking: –25% of the marks assigned to the question (i.e., the applicable negative marking will be -0.25 marks in case of a 1-mark question and -0.50 marks in case of a 2-marks question).
# Passing Certificates will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 26 | NISM Series XXI-A: Portfolio Management Services (PMS) Distributors | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination is a mandatory examination.
The examination seeks to create a common minimum knowledge benchmark for distributors of PMS. The certification aims to enhance the quality distribution and related support services in the PMS.
NISM has notified NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination vide NISM communiqué NISM/Certification/Series-XXI-A: PMS/2021/01 dated February 16, 2021.
Examination Objectives
On successful completion of the Portfolio Management Services (PMS) Distributor’s certification examination, the candidate should:
- Know the basics of investments, securities markets, investing in stocks, understanding fixed income securities, derivatives, and mutual funds.
- Understand the role of portfolio managers, operational aspects of portfolio management services, and the portfolio management process, performance measurement, and evaluation of portfolio managers.
- Get oriented to the taxation aspects and regulatory, governance, and ethical aspects of portfolio managers and PMS distributors.
Assessment Structure
The examination consists of 80 multiple choice questions and 3 case-based questions. The assessment structure is as follows:
| Multiple Choice Questions [80 questions of 1 mark each] | 80*1 = 80 marks |
| 3 Case-based Questions [2 cases (each case with 5 questions of 1 mark each)] [1 case (with 5 questions of 2 marks each] | 2*5*1 = 10 marks 1*5*2= 10 marks |
The examination should be completed in 2 hours. The passing score for the examination is 60 percent. There shall be a negative marking of 25 percent of the marks assigned to a question.
Test Details
+ Inclusive of Goods and Services Tax (GST). Payment Gateway Charges extra.
~ 80 multiple choice questions of 1 mark each, 2 caselets with 5 MCQs each of 1 mark each, and 1 caselet with 5 MCQs of 2 marks each.
* Negative marking – 25% of the marks assigned to the question.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
27 | NISM Series XXI-B: Portfolio Managers | 3hrs | 3000/- | 150 | 105 | 60 | 25 | 3 |
The NISM-Series-XXI-B: Portfolio Managers Certification Examination to create a common minimum knowledge benchmark for principal officers and other employees of the Portfolio Management Services (PMS) firms. The exam aims to enhance the quality of Portfolio Management Services.
NISM has notified NISM-Series-XXI-B: Portfolio Managers Certification Examination vide NISM communiqué NISM/Certification/Series-XXI-B: Portfolio Managers Certification Examination/2021/01 dated June 15, 2021
Examination Objectives
On successful completion of the examination, the candidate should:
Know the basics of investments, securities markets, investing in stocks, understanding fixed income securities, derivatives, and mutual funds.
Know about indices, concepts of information efficiency, behavioral finance, modern portfolio theory, equity, and fixed income portfolio management strategies.
Understand the role of portfolio managers, operational aspects of portfolio management services, and the portfolio management process, performance measurement, and evaluation of portfolio managers.
Get oriented to the taxation aspects and regulatory, governance, and ethical aspects of portfolio managers.
Assessment Structure
The examination consists of 60 multiple choice questions and 9 case-based questions. The assessment structure is as follows:
Multiple Choice Questions [60 questions of 1 mark each] | 60*1 = 60 marks |
9 Case-based Questions [9 cases (each case with 5 questions of 2 marks each)] | 9*5*2 = 90 marks |
Total | 150 marks |
The examination should be completed in 3 hours. The passing score for the examination is 60 percent which is 90 marks out of total 150 marks. There shall be negative marking of 25 percent of the marks assigned to a question.
Test Details
+ Inclusive of Goods and Services Tax (GST). Payment Gateway Charges extra.
~ 60 multiple choice questions of 1 mark each and; 9 caselets with 5 MCQs in each caselet of 2 marks each i.e. totals of 45 case-based MCQs
* Negative marking – 25% of the marks assigned to the question.
# Passing Certificates will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
28 | NISM Series I: Currency Derivatives Certification Examination | 2hrs | 1770/+ | 100 | 85 | 60 | 25 | 3 |
Sr. | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
29 | IBBI- Valuation Examination in the Asset Class: Land and Building | 2hrs | 1770/- | 100 | 90 | 60 | 25 | – |
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| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
| 30 | IBBI- Valuation Examination in the Asset Class: Plant and Machinery | 2hrs | 1770/- | 100 | 90 | 60 | 25 | – |
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
|---|---|---|---|---|---|---|---|---|
31 | IBBI- Valuation Examination in the Asset Class: Securities or Financial Assets | 2hrs | 1770/- | 100 | 90 | 60 | 25 | – |
Firstly, Why should you think about taking the NISM-series-VIII-equity derivatives exam?
- SEBI’s educational program is the National Institute of Security Markets. It is an entry-level examination designed to produce individuals who are well-versed in the fundamentals of the securities market. It also provides a wide selection of certificates that allow individuals to specialize in a particular field of work. In a nutshell, NISM Certifications aim to provide applicants with a complete understanding of India’s financial structure and the guidelines of the Indian securities market. Here is a list of the advantages you will receive if you pass the NISM-Series-VIII- Equity Derivatives Certification Exam.
- Before being employed, every employee who desires to obtain a position of work in the organization must pass a NISM certification exam corresponding to his/her job position, according to the Securities and Exchange Board of India.
- The NISM-Series-VIII-Equity-Derivatives test establishes a minimal level of professionalism for anyone wishing to work as an authorized user and sales executive in the exchange market. It also raises awareness about the laws and regulations that must be followed when trading in the stock market.
- The NISM certification broadens the market’s career options. Some examples include sales reps in the mutual fund market, employment in banks, and trading in organizations that purchase and sell equities. The more NISM certifications you obtain, the more work prospects you will have.
- Securities and Exchange Board of India’s NISM accreditation is recognized throughout the country. Various stock market firms are constantly on the lookout for persons having NISM credentials.
Appreciation
Undoubtedly, learning sharks institute works hard to maintain this list of share market Training courses up to date. However, In the event of a dispute between the programmes mentioned in the Learning sharks Academic Calendar and this list, the Calendar will take precedence nevertheless. In addition, Please contact the Enrollment Desk if you have any further questions about admissions or programme offerings. Nevertheless, Please contact us at [email protected] to edit a programme listing. Alternatively, you can reach us directly for any course queries. On the contrary, one can call our number 8595071711.
Even so, we launch new stock market integrated trading programmes every 6 months. In spite of stock market trends and conditions. While we have you here. Of course, we do not want to miss asking you to share a review. Clearly, It is necessary and appreciated. our Trading community has been growing evidently. Surely, the credit goes to our mentors and our hard-working trading students. For this reason, we keep coming out with discounts and concessions on our programmes. Besides, We believe each citizen has the right to learn about the market.
Because we believe each student should be successful. Since our program is so powerful. So, we encourage and invite more applications, therefore. Of course, we feel proud to invite the differently abled students too. Moreover, the stock market does not care about any race, religion, family background or religion also. Then, again, We are there to assist you with the best education. Finally, head over to our contact page to speak to our counsellor. For one thing, we do not want our students to fail, which is why give regular and repeated classes too.