nism

The Best ONLINE Preparation
tools for NISM Certifications

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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
Test Duration
Fees (Rs)
Maximum Marks
No. of Que
Pass Mark (%)
Negative Marks (%)
Certificate Validity (in years)
1
NISM Series I: Currency Derivatives Certification Examination
2 hrs
1500
100
100
60
25
3
2
NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination
2 hrs
1500
100
100
50
25
3
3
NISM Series II B: Registrars and Transfer Agents (Mutual Fund) Certification Examination
2 hrs
1500
100
100
50
25
3
4
NISM Series IV: Interest Rates Derivatives Certification Examination
2 hrs
1500
100
100
60
25
3
5
NISM Series V A: Mutual Fund Distributors Certification Examination
2 hrs
1500
100
100
50
25
3
6
NISM Series VI: Depository Operations Certification Examination
2 hrs
1500
100
100
60
25
3
7
NISM Series VII: Securities Operations and Risk Management Certification Examination
2 hrs
1500
100
100
50
25
3
8
NISM Series-VIII: Equity Derivatives Certification Examination
2 hrs
1500
100
100
60
25
3
9
Certified Personal Financial Advisor (CPFA) Examination
2 hrs
4495
100
80
60
25
3
10
NISM-Series-X-A: Investment Adviser (Level 1) Certification
2 hrs
1250
100
100
60
25
3
10
NISM-Series-XV: Research Analyst Certification
2 hrs
1250
100
100
60
25
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.