NISM Certification: Eligibility, Syllabus & Exam Patterns
- 09 Oct 2024
- By: BlinkX Research Team
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Share market is an interesting subject, especially when approached with the right skill sets and knowledge. If you are an aspiring individual who is looking to pursue a career in share market and become an expert, obtaining an NISM certificate is the key factor. If you are curious to learn about the NISM full form, the significance of obtaining the NISM certificate, the syllabus to prepare for the NISM exam, and more, don’t worry! Keep reading to learn more about NISM, NISM certification, NISM registration, NISM exam, NISM courses, NISM eligibility, NISM exam pattern, and more in detail.
What is an NISM Certificate?
NISM full form stands for the National Institute of Securities Market exam is administrated by security participants and intermediates as mandated by the Securities and Exchange Board of India (SEBI). Founded in 2006 by SEBI, NISM is a public trust conducting a wide range of courses including currency derivatives certification, investment advisor, merchant banking certification, and more. The institution includes six schools aiming to educate individuals on the professionalism and standardization of the securities markets.
Table of Content
- What is an NISM Certificate?
- Who is eligible for the NISM Certificate?
- How to register for the NISM Certificate?
- NISM Certification Exam Syllabus
- NISM Certificate Exam Pattern
- NISM Certification Marking Scheme
- NISM Exam Fees
Who is eligible for the NISM Certificate?
NISM offers several certification programs to improve your skill sets and enhance your knowledge about the share market. Individuals with different educational backgrounds, including students, employees, and professionals can pursue NISM certification. There is no age or educational requirement to take the NISM certification exam.
How to register for the NISM Certificate?
Using the network of its test administrators, NISM conducts NISM certification exams in more than 150 cities in India. Follow the below-mentioned steps to register yourself for the NISM certificate:
· Step 1: Create a NISM account and register online by providing your personal details and ID proof at https://certifications.nism.ac.in/.
· Step 2: Click on the activation link sent to your registered email ID to activate your account. Wait for 72 hours for your account verification.
· Step 3: On successful verification, log in to the NISM Certification Portal using your registered email ID and password and select “Enrollment” -> “Enroll For Examination”.
· Step 4: Select all the details such as the required exam, preferred city, test centre, and date of exam time, and make the payment.
· Step 5: On successful payment, you will receive your admit card.
Don’t forget to carry your ID (PAN Card, Aadhar Card, Passport, or Driving License) along with you to the test center.
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NISM Certification Exam Syllabus
| Certification Name | Syllabus |
| NISM-Series-I: Currency Derivatives Certification Examination |
|
| NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents-Corporate Certification Examination |
|
| NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination |
|
| NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination |
|
| NISM-Series-IV: Interest Rate Derivatives Certification Examination |
|
| NISM-Series-V-A: Mutual Fund Distributors Certification Examination |
|
| NISM-Series-V-B: Mutual Fund Foundation Certification Examination |
|
| NISM-Series-VI: Depository Operations Certification Examination |
|
| NISM-Series-VII: Securities Operations and Risk Management Certification Examination |
|
| NISM-Series-VIII: Equity Derivatives Certification Examination |
|
| NISM Series-IX: Merchant Banking Certification Examination |
|
| NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination |
|
| NISM Series-X-B: Investment Adviser (Level 2) Certification Examination |
|
| NISM Series-XII: Securities Markets Foundation Certification Examination |
|
| NISM-Series-XIII: Common Derivatives Certification Examination |
|
| NISM-Series-XV: Research Analyst Certification Examination |
|
| NISM-Series-XVI: Commodity Derivatives Certification Examination |
|
| NISM-Series-XVII: Retirement Adviser Certification Examination |
|
| NISM-Series-XVIII: Financial Education Certification Examination |
|
| NISM Series XIX-A: Alternative Investment Funds (Category I and II) Distributors |
|
| NISM Series XIX-B: Alternative Investment Funds (Category III) Distributors |
|
| NISM-Series-XX-Taxation in Securities Markets Certification Examination |
|
| NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination |
|
| NISM-Series-XXI-B: Portfolio Managers Certification Examination |
|
| NISM-Series-XXII: Fixed Income Securities Certification Examination |
|
| NISM Series-XXIII: Social Auditors Certification Examination |
|
NISM Certificate Exam Pattern
Understanding the NISM exam pattern helps you plan and prepare in advance. Below is the table showcasing details:
| Time duration | 2 hours |
| Number of Questions | 100 |
| Negative marking | ¼ or 25% of the marks assigned to a question |
| No negative marking | NISM-Series-V-A, NISM Series XII, and NISM-Series-V-B certification examination |
| NISM Certification Examinations | Duration (in mins) | Max Marks | Pass Marks (%) | Negative Marks | Certificate Validity (in years) |
| NISM-Series-I: Currency Derivatives | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents -Corporate | 120 | 100 | 50 | 25% | 3 |
| NISM-Series-ll-B: Registrars to an Issue and Share Transfer Agents -Mutual Fund | 120 | 100 | 50 | 25% | 3 |
| NISM-Series-lll-A: Securities Intermediaries Compliance (Non-Fund) | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-IV: Interest Rate Derivatives | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-V-A: Mutual Fund Distributors | 120 | 100 | 50 | - | 3 |
| NISM-Series-V-B: Mutual Fund Foundation | 120 | 50 | 50 | - | 3 |
| NISM-Series-VI: Depository Operations | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-VII: Securities Operations and Risk Management | 120 | 100 | 50 | 25% | 3 |
| NISM-Series-VIII: Equity Derivatives | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-IX: Merchant Banking | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-X-A: Investment Adviser (Level 1) | 180 | 150 | 60 | 25% | 3 |
| NISM-Series-X-B: Investment Adviser (Level 2) | 180 | 150 | 60 | 25% | 3 |
| NISM-Series-XII: Securities Markets Foundation | 120 | 100 | 60 | - | 3 |
| NISM-Series-XIII: Common Derivatives | 180 | 150 | 60 | 25% | 3 |
| NISM-Series-XV: Research Analyst | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XVI: Commodity Derivatives | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XVII: Retirement Adviser | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XIX-B: Alternative Investment Funds (Category III) Distributors | 120 | 100 | 60 | 25% | 3 |
| NISM Series XIX-C: Alternative Investment Fund Managers | 180 | 150 | 60 | 25% | 3 |
| NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XXI-B: Portfolio Managers | 180 | 150 | 60 | 25% | 3 |
| NISM-Series-XXII: Fixed Income Securities | 120 | 100 | 60 | 25% | 3 |
| NISM-Series-XXIII: Social Impact Assessors | 120 | 100 | 60 | 25% | 3 |
NISM Certification Marking Scheme
| Certificate | Total Questions | Total Marks |
| NISM-Series-I | 100 | 100 (1 mark per question) |
| NISM-Series-II-A | 100 | 100 (1 mark per question) |
| NISM-Series-II-B | 100 | 100 (1 mark per question) |
| NISM-Series-V-B | 50 | 50 (1 mark per question) |
| NISM-Series-V-C | 75 MCQs (50 MCQ consisting of 1 mark each and 25 MCQs consisting of 2 marks each) | 100 (1 mark per question) |
| NISM-Series-VI | 100 | 100 (1 mark per question) |
| NISM-Series-X-A | 135 questions ( 90 MCQs + 45 case-based questions) | 150 (60 marks for 9 case-based questions) and 90 marks for MCQs (1 mark per MCQ) |
| NISM Series-X-B | 120 (90 MCQs + 6 cases x 5 questions per case) | 150 (90 questions carrying 1 mark each and 30 case-based questions carrying 2 marks each) |
| NISM-Series-XIII | 150 | 150 (1 mark per question) |
| NISM-Series-XX | 75 | 100 (50 MCQs of 1 mark per question and 25 MCQs of 2 marks per question) |
| NISM-Series-XXI-B | 135 (60 MCQs + 9 cases x 5 questions per case) | 150 (60 MCQs of 1 mark each and 45 case-based questions of 2 marks each) |
| NISM-Series-XXII | 85 MCQs | 100 (70 MCQs of 1 mark each and 15 MCQs of 2 marks each) |
NISM Exam Fees
In order to appear for the NISM exam and obtain certification, you need to pay minimum mandatory fees. The below table showcases the minimum fees that you have to pay:
| NISM Certification Examinations | Fees (in ₹) |
| NISM-Series-I: Currency Derivatives | 1500 |
| NISM-Series-I: Currency Derivatives | 1500 |
| NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents -Corporate | 1500 |
| NISM-Series-ll-B: Registrars to an Issue and Share Transfer Agents -Mutual Fund | 1500 |
| NISM-Series-lll-A: Securities Intermediaries Compliance (Non-Fund) | 1500 |
| NISM-Series-IV: Interest Rate Derivatives | 1500 |
| NISM-Series-V-A: Mutual Fund Distributors | 1200 |
| NISM-Series-V-B: Mutual Fund Foundation | 1500 |
| NISM-Series-VI: Depository Operations | 1500 |
| NISM-Series-VII: Securities Operations and Risk Management | 1500 |
| NISM-Series-VIII: Equity Derivatives | 1500 |
| NISM-Series-IX: Merchant Banking | 3000 |
| NISM-Series-X-A: Investment Adviser (Level 1) | 3000 |
| NISM-Series-X-B: Investment Adviser (Level 2) | 1770 |
| NISM-Series-XII: Securities Markets Foundation | 3000 |
| NISM-Series-XIII: Common Derivatives | 1500 |
| NISM-Series-XV: Research Analyst | 1500 |
| NISM-Series-XVI: Commodity Derivatives | 1500 |
| NISM-Series-XVII: Retirement Adviser | 1770 |
| NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors | 1770 |
| NISM-Series-XIX-B: Alternative Investment Funds (Category III) Distributors | 3540 |
| NISM Series XIX-C: Alternative Investment Fund Managers | 1500 |
| NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors | 3000 |
| NISM-Series-XXI-B: Portfolio Managers | 1770 |
| NISM-Series-XXII: Fixed Income Securities | 1770 |
| NISM-Series-XXIII: Social Impact Assessors | 1770 |
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