NISM Certification Examinations - all you need to know

20
Feb
2017

NISM Certifications

What are NISM Certification Examinations?

NISM Certifications are mandatory / non-mandatory certification examinations developed by the National Institute of Securities Markets (NISM) which is an educational initiative of the Securities and Exchange Board of India (SEBI). NISM Certifications are mandatory certifications for market participants working in the capital markets. Students, investors and other general public are free to take these NISM Certification Examinations to enhance their knowledge and increase their employability.

Who develops NISM Certifications?

The School for Certification of Intermediaries (SCI) at NISM is engaged in developing certification examinations for professionals employed in various segments of the Indian securities markets. These examinations are being developed by NISM as mandated under SEBI (Certification of Associated Persons in the Securities Markets) Regulation, 2007.

What is the fees, exam structure and validity of NISM Certifications?

Here is a comprehensive list of all NISM Certification Examinations with their fees, passing marks, validity, exam duration, etc.

Sr. No. NISM Exam NISM Mock Test Test Duration Fees (Rs) Maximum Marks No. of Questions Pass Mark (%) Negative Marks (%)
1 NISM-Series I : Currency Derivatives Certification Examination Free NISM Currency Derivatives Mock Test 2hrs 1500/- 100 100 60 25
2 NISM Series IIA : Registrars and Transfer Agents (Corporate) Certification Examination - 2hrs 1500/- 100 100 50 25
3 NISM Series IIB : Registrars and Transfer Agents (Mutual Fund) Certification Examination - 2hrs 1500/- 100 100 50 25
4 NISM Series IIIA : Securities Intermediaries Compliance (Non-Fund) Certification Examination - 2hrs 1500/- 100 100 60 25
5 NISM Series IIIB : Issuers Compliance Certification Examination+ - 2hrs 1725/- 100 100 60 25
6 NISM Series IV : Interest Rates Derivatives Certification Examination - 2hrs 1500/- 100 100 60 25
7 NISM Series VA : Mutual Fund Distributors Certification Examination Free NISM Mutual Fund Mock Test (AMFI Mock Test) 2hrs 1500/- 100 100 50 0
8 NISM Series­ VB : Mutual Fund Foundation Certification Examination - 2hrs 1200/- 50 50 50 0
9 NISM Series VC : Mutual Fund Distributors (Level 2) Certification Examination+ - 2hrs 1725/- 100 68 60 25
10 NISM Series VI : Depository Operations Certification Examination Free NISM Depository Operations Mock Test 2hrs 1500/- 100 100 60 25
11 NISM Series VII : Securities Operations and Risk Management Certification Examination Free NISM Securities Operations and Risk Management Mock Test 2hrs 1500/- 100 100 50 25
12 NISM Series VIII : Equity Derivatives Certification Examination Free NISM Equity Derivatives Mock Test 2hrs 1500/- 100 100 60 25
13 NISM Series-IX : Merchant Banking Certification Examination   2hrs 1500/- 100 100 60 25
14 NISM Series XA : Investment Advisor (Level 1) Certification Examination Free NISM Investment Adviser Level 1 Mock Test 2hrs 1500/- 100 100 60 25
15 NISM Series XB - Investment Adviser (Level 2) Certification Examination Coming Soon 2hrs 1500/- 100 68 60 25
16 NISM Series XI : Equity Sales Certification Examination+ - 2hrs 1725/- 100 100 50 25
17 NISM Series XII : Securities Markets Foundation Certification Examination+ - 2hrs 1725/- 100 100 60 0
18 NISM Series XIII : Common Derivatives Certification Examination - 3hrs 3000/- 150 150 60 25
19 NISM Series-XIV : Internal Auditors for Stock Brokers Certification Examination+ - 2hrs 1725/- 100 100 60 25
20 NISM Series XV : Research Analyst Certification Examination Free NISM Research Analyst Mock Test 2hrs 1500/- 100 100 60 25
21 NISM Series XVII : Retirement Adviser Certification Examination - 2hrs 1500/- 100 100 60 25
22 IBBI Limited Insolvency Examination** - 2hrs 1000/- 100 90 60 25
                 
* Online Payment Gateway Charges extra      
+ indicates non-mandatory examinations      
**All NISM Certificates are valid for a period of 3 years except for IBBI - Limited Insolvency which is valid for lifetime      

Which NISM Certification Exam should I take?

While it is easy to get confused with the long list of more than 20 NISM Certification Examinations, each NISM Certification is mandatory for people performing specific functions in the Indian Capital Markets. NISM Certification Exams mapping with Job Roles. This blog will help you figure out which exam is the right one for you.

What happens if I do not pass NISM Certification?

As per SEBI (CAPSM) Regulations, 2007, all market participants performing respective functions are required to pass the respective NISM Certification within the stipulated deadline. In case you do not pass the exam, you will not be allowed to work in the specific function and that you may lose your job or be shifted to another role.

Where can I take NISM Certification Exam?

Candidates can take NISM Certification Examinations from any of the 200+ NISM Test Centres across India after registration and online enrollment. Registration on NISM Certification Portal is free and is valid for a lifetime. After registration, candidates can login to NISM Certification Portal and enroll online for the NISM exam of their choice. During enrollment, candidates need to select the NISM Certification Exam, City and Test Centre, Date and Time Slot and make online payment using credit card, debit card or net banking.

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