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National Institute of Securities Markets (NISM) Certificates : All you need to know about
The National Institute of Securities Markets (NISM) is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. The institute carries out a wide range of capacity building activities at various levels aimed at enhancing the quality standards in securities markets.
♦NISM Certificates – Why is it so important?
NISM helps the market participants of India to develop their financial skills to the right level and expertise. This helps them to provide high-quality service and actions to anyone who wishes to invest in the financial markets.
♦List of NISM Certification examinations
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.
| Sr. No |
NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity
(in years) |
| 1 | NISM Series I: Currency Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 2. | NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | 25 | 3 |
| 3 | NISM Series II B: Registrars and Transfer Agents (Mutual Fund) Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | 25 | 3 |
| 4 | NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 5 | NISM Series-III-B: Issuers Compliance Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
| 6 | NISM Series IV: Interest Rates Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 7 | NISM Series V A: Mutual Fund Distributors Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | – | 3 |
| 8 | NISM-SeriesV-B: Mutual Fund Foundation Certification Examination | 2hrs | 1200/- | 50 | 50 | 50 | – | 3 |
| 9 | NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination+ | 2hrs | 1770/- | 100 | 68 | 60 | 25 | 3 |
| 10 | NISM Series VI: Depository Operations Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 11 | NISM Series VII: Securities Operations and Risk Management Certification Examination | 2hrs | 1500/- | 100 | 100 | 50 | 25 | 3 |
| 12 | NISM-Series-VIII: Equity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 13 | NISM Series-IX: Merchant Banking Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 14 | NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 15 | NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination | 2hrs | 1500/- | 100 | 68 | 60 | 25 | 3 |
| 16 | NISM-Series-XI: Equity Sales Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 50 | 25 | 3 |
| 17 | NISM Series-XII: Securities Markets Foundation Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 60 | – | 3 |
| 18 | NISM Series-XIII: Common Derivatives Certification Examination | 3hrs | 3000/- | 150 | 150 | 60 | 25 | 3 |
| 19 | NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination+ | 2hrs | 1770/- | 100 | 100 | 60 | 25 | 3 |
| 20 | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 | |
| 21 | NISM-Series-XVI: Commodity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 22 | NISM-Series-XVII: Retirement Adviser Certification Examination | 2hrs | 1500/- | 100 | 100 | 60 | 25 | 3 |
| 23 | NISM-Series-XVIII: Financial Education Certification Examination+ | 2hrs | 1416/- | 50 | 50 | 50 | – | 3 |
| 24 | IBBI- Valuation Examination in the Asset Class: Land and Building | 2hrs | 1500/- | 100 | 96 | 60 | 25 | – |
| 25. | IBBI- Valuation Examination in the Asset Class: Plant and Machinery | 2hrs | 1500/- | 100 | 96 | 60 | 25 | – |
| 26 | IBBI- Valuation Examination in the Asset Class: Securities or Financial Assets | 2hrs | 1500/- | 100 | 92 | 60 | 25 | – |
* Online Payment Gateway Charges extra
+ indicates non-mandatory examinations
| Sr. No |
NISM Exam | Online Mock Test Link |
| 1 | NISM Series I: Currency Derivatives Certification Examination | Click here |
| 2 | NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination | Soon |
| 3 | NISM Series II B: Registrars and Transfer Agents (Mutual Fund) Certification Examination | Click here |
| 4 | NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination | Click Here |
| 5 | NISM Series-III-B: Issuers Compliance Certification Examination+ | Soon |
| 6 | NISM Series IV: Interest Rates Derivatives Certification Examination | Click Here |
| 7 | NISM Series V A: Mutual Fund Distributors Certification Examination | Click Here |
| 8 | NISM-SeriesV-B: Mutual Fund Foundation Certification Examination | Click Here |
| 9 | NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination+ | Click Here |
| 10 | NISM Series VI: Depository Operations Certification Examination | Click Here |
| 11 | NISM Series VII: Securities Operations and Risk Management Certification Examination | Click Here |
| 12 | NISM-Series-VIII: Equity Derivatives Certification Examination | Click Here |
| 13 | NISM Series-IX: Merchant Banking Certification Examination | Click Here |
| 14 | NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination | Click Here |
| 15 | NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination | Click Here |
| 16 | NISM-Series-XI: Equity Sales Certification Examination+ | Soon |
| 17 | NISM Series-XII: Securities Markets Foundation Certification Examination+ | Click here |
| 18 | NISM Series-XIII: Common Derivatives Certification Examination | Soon |
| 19 | NISM Series-XIV: Internal Auditors for Stock Brokers Certification Examination+ | Soon |
| 20 | NISM Series-XV: Research Analyst Certification Examination | Soon |
| 21 | NISM-Series-XVI: Commodity Derivatives Certification Examination | Soon |
| 22 | NISM-Series-XVII: Retirement Adviser Certification Examination | Click here |
| 23 | NISM-Series-XVIII: Financial Education Certification Examination+ | Soon |
| 24 | NISM Series XIX-A: Alternative Investment Funds (Category I and II) Distributors+ | Soon |
| 25 | NISM Series XXI-A: Portfolio Management Services (PMS) Distributors+ | Soon |
| 26 | IBBI- Valuation Examination in the Asset Class: Land and Building | Soon |
| 27 | IBBI- Valuation Examination in the Asset Class: Plant and Machinery | Soon |
| 28 | IBBI- Valuation Examination in the Asset Class: nSecurities or Financial Assets | Soon |
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