nism

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Equity/Currency Derivatives, Mutual Fund
Distributors, Security Operations & Risk
Management and Depository Operations...

About NISM

The Securities and Exchange Board of India (SEBI), regulator for securities markets in India, established the National Institute of Securities Markets (NISM) as an apex institute for securities market education in India.

The objective of SEBI towards establishing National Institute of Securities Market is to promote the securities market education and research at various levels in India and abroad. Towards accomplishing the desire NISM has established six different and distinct schools to provide the education of different segments of securities market to the investor, issuers, intermediaries, regulatory staff, policy makers, and academia and future professionals of securities markets.

NISM seeks to add to market quality through educational initiatives. It is an autonomous body governed by its Board of Governors. An international Advisory Council provides strategic guidance to NISM.

NISM brings out various publications on securities markets with a view to enhance knowledge levels of participants in the securities industry.

NISM is mandated to develop and implement online test certification for professionals employed in the Indian securities markets. NISM certification tests are designed to deliver financial and securities education at various levels and across various segments. There is no eligibility requirement with regards to age as well as educational qualification to take the NISM exam.


NISM Certification Examination Framework:


S.No. NISM Exam Fees (Rs.) Test Duration Maximum Marks No. of Questions Pass Mark* (%) Certificate Validity (in years)
1 NISM Series I: Currency Derivatives Certification Examination 1250 2hrs 100 100 60 3
2 NISM Series II-A: Registrars and Transfer Agents (Corporate) Certification Examination 1250 2hrs 100 100 50 3
3 NISM Series II-B: Registrars and Transfer Agents (Mutual Fund) Certification Examination 1250 2hrs 100 100 50 3
4 NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination 1250 2hrs 100 100 60 3
5 NISM Series IV: Interest Rates Derivatives Certification Examination 1250 2hrs 100 100 60 3
6 NISM Series V-A: Mutual Fund Distributors Certification Examination 1250 2hrs 100 100 50 3
7 NISM-Series V-B: Mutual Fund Foundation Certification Examination* 1000 2hrs 50 50 50 3
8 NISM Series VI: Depository Operations Certification Examination 1250 2hrs 100 100 60 3
9 NISM Series VII: Securities Operations and Risk Management Certification Examination 1250 2hrs 100 100 50 3
10 NISM Series VIII: Equity Derivatives Certification Examination 1250 2hrs 100 100 60 3
11 NISM-Series-X-A: Investment Adviser (Level 1) Certification 1250 2hrs 100 100 60 3

* NISM Series V-B and CPFA Examination do not carry any negative marking. All other Examinations carry 25% negative marking for each wrong answer.