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NISM Currency Derivatives Certification Examination (NISM Series 1)

NISM Currency Derivatives Exam - NISM Series 1 Exam

The NISM Currency Derivatives Certification Examination is the NISM Series I of NISM Certifications. The exam was launched on May 15, 2009. It is one of the toughest exams for professionals working in the currency derivatives area. The exam is also called as Currency Derivatives NISM, NISM Series 1 Currency Derivatives Market Exam or very rarely called as Currency Derivatives NISM Exam.

After launch of NISM Currency Derivatives Exam, all other Currency Derivatives exams run by the stock exchanges like NSE, BSE, MSE cease to be mandatory, i.e., NISM Series I Currency Derivatives Certification Examination is the sole exam required to be passed as per SEBI mandate.

Therefore, if you are planning to undertake a currency derivative market related exam, it would be wise to take the NISM Currency Derivatives Exam.

NISM Series I Currency Derivatives Certification Examination is an entry level exam for professionals working in the currency derivatives segment, e.g., dealers, brokers, etc. The exam is one of the most difficult exams of NISM with a nation-wide pass rate of less than 50%.

The exam is a mandated one under SEBI (CAPSM) Regulations, 2007. Our team has drafted a few FAQs about the examination for the benefit of exam takers.

Whom is the NISM Currency Derivatives Certification Examination mandatory for?

Generally, people willing to obtain the Currency Derivatives Market Dealers Terminal are required to produce the NISM Series 1 Currency Derivatives Market Certificate to the stock exchange.

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 future products, better quality investor service, operational process efficiency and risk controls. 

What topics are covered under the NISM Currency Derivatives Certification Examination?

The NISM Currency Derivatives Certification Examination covers the following topics:

  • Basics of currency markets and specifically Exchange Traded Currency Derivatives markets.
  • Trading, clearing and settlement mechanisms related to Currency Derivatives markets and basic investment strategies that use currency futures and options products.
  • Regulatory environment in which the Currency Derivatives markets operate in India.

Where can I obtain the NISM Currency Derivatives Study Material?

Soft copy of the NISM Currency Derivatives Study Material can be downloaded free of cost from our website. If you wish to purchase a physical copy of NISM Currency Derivatives study material, you can purchase it online and the book will be delivered to your address. The books are also available at major bookstores across India.

Where can I find NISM mock test for NISM Currency Derivatives Exam?

Free NISM Series I Currency Derivatives Mock Test for NISM Series I Currency Derivatives Exam is available at our website. The mock test consists of 10 sample questions and can be accessed by logging into our website. Premium NISM Mock Test for NISM Currency Derivatives Exam consisting of 9 premium quality mock tests with 900 questions is also available at Rs. 399/- only. Each NISM mock test has a validity of 90 days and can be attempted 10 times during the subscription period.

How can I register and enroll for the NISM Currency Derivatives Exam?

Registration and Enrollment for all NISM Certification Examinations can be done online through NISM Certification Portal or PrepCafe Academy’s NISM Registration Services.

For Registration to the NISM Certification portal, you should have your

  • Permanent Account Number (PAN),
  • Scanned Copy of your PAN Card,
  • Soft Copy of your photograph,
  • a valid email address and
  • your basic details such as your
    • Name,
    • Date of Birth,
    • Educational Details,
    • Employment Details, etc.

After successful submission of the online NISM Registration form, you will receive a NISM Registration Number and an activation link on your email. You will need to click on the activation link to activate your NISM Account. After activation, you will be able to login.

After login using your email and password, you need to go to “Enrolment” -> “Enroll for Examination” link and following the following steps:

Step 1: Selection of Examination: Here you need to select the NISM Series VIII Equity Derivatives Certification Examination.

Step 2: Check Seat Availability: Select the Exam City, Test Centre of your choice and the Date Range during which you wish to take the exam.

Step 3: Select a Time Slot: You will shown the availability of Test Slots for the exam. Select one and click “Enroll for the Examination”.

Step 4: Make Payment: Please accept the terms and conditions and proceed for online payment using credit card, debit card or internet banking.

After successful payment, your Admit Card will be generated. You should carry this admit card and an original identity card to the examination centre, 30 minutes before the actual exam time.

Acceptable identity cards are PAN Card, Driving License, Passport, Aadhar Card only.

What is the assessment structure for NISM Series I Currency Derivatives Certification Examination?














Rs. 1500/-

What is the syllabus outline for NISM Series I Currency Derivatives Certification Examination?

Chapter No.

Chapter Name

Weightages %


Introduction to Currency Markets



Foreign Exchange Derivatives



Exchange Traded Currency Futures and Options



Strategies Using Currency Futures and Options






Clearing, Settlement and Risk Management



Regulatory Framework for Currency Derivatives



Accounting And Taxation



Codes of Conduct And Investor Protection Measures





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