The NISM Research Analyst Certification Examination is the NISM Series XV of NISM Certifications. The exam was launched on March 02, 2015. It is an entry level exam for professionals working in the equity research analyst area.
A significant part of the NISM Research Analyst exam includes Fundamental Analysis and very little part of it covers Technical Analysis. Despite the fact, equity research analysts working in both fundamental as well as technical analysis area are required to pass the examination as per Regulation 7(2) of the SEBI (Research Analysts) Regulations, 2014.
Our team has drafted a few FAQs about the examinations for the benefit of exam takers.
Whom is the NISM Research Analyst Certification Examination mandatory for?
As per the regulations, “research analyst” means a person who is primarily responsible for,
- preparation or publication of the content of the research report; or
- providing research report; or
- making ‘buy/sell/hold’ recommendation; or
- giving price target; or
- offering an opinion concerning public offer,
with respect to securities that are listed or to be listed in a stock exchange, whether or not any such person has the job title of ‘research analyst’ and includes any other entities engaged in issuance of research report or research analysis. Explanation : The term also includes any associated person who reports.
The RA Regulations do not cover personnel engaged in clerical activities/marketing activities, back office assistance, support services, etc, in relation to publication and/or distribution of research report. Apart from the above, any student, businessman or any other person interested in switching to the Equity Research Analyst role can undertake this exam.
What topics are covered under the NISM Research Analyst Certification Examination?
The NISM Research Analyst Certification Examination covers the following topics:
- Basics of Indian Securities Markets and different terminologies used in equity and debt markets
- Top down and bottom up approach to fundamental research
- Principles for micro and macro-economic analysis, the sources of different information for analysis and the various macroeconomic variables affecting the analysis.
- Key industry drivers and sources of information for industry analysis.
- Company Analysis based on Qualitative and Quantitative dimensions.
- Fundamentals of Risk and Return, Valuation Principles and the philosophy of various Corporate Actions.
- Qualities of a good research report.
Where can I obtain the NISM Research Analyst Study Material?
Soft copy of the NISM Research Analyst Study Material can be downloaded free of cost from our website. If you wish to purchase a physical copy of NISM Research Analyst 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 Research Analyst Exam?
Free NISM Series XV Research Analyst Mock Test for NISM Series XV – Research Analyst 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 Research Analyst Exam consisting of 4 premium quality mock tests with 400 questions is also available at Rs. 399/- only. Each NISM mock test has a validity of 45 days and can be attempted 3 times during the subscription period.
How can I register and enroll for the NISM Research Analyst Exam?
Registration and Enrollment for all NISM Certification Examinations can be done online through NISM Certification Portal. 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
- 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 XV : Research Analyst 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 Research Analyst Certification Examination?
NO. OF QUESTIONS
25% FOR EACH WRONG ANSWER
3 YEARS FROM DATE OF EXAM
What is the syllabus outline for NISM Series XV – Research Analyst Certification Examination?
Introduction to Research Analyst Profession
Introduction to Securities Market
Terminology in Equity and Debt Markets
Fundamentals of Research
Company Analysis – Qualitative Dimensions
Company Analysis – Quantitative Dimensions
Fundamentals of Risk and Return
Qualities of a good Research Report
Legal and Regulatory Environment