Which are the most popular and searched NISM certification exams in 2026?

The top 6 most in-demand NISM exams are: 1) NISM Series V-A: Mutual Fund Distributors (MFD), 2) NISM Series VIII: Equity Derivatives (EDCE), 3) NISM Series XV: Research Analyst (RA), 4) NISM Series V-D: Mutual Fund - SIF Distributors, 5) NISM Series XXV-A: Persons Associated with Research Services (PARS), and 6) NISM Series XXI-A: PMS Distributors (PMSD). Modelexam provides updated 2026 syllabus mock tests, chapter notes, and free demos for all these exams.

How to prepare for NISM Series V-D (5D) Mutual Fund – SIF Distributors Exam?

NISM Series V-D is required for distributors and sales personnel involved in distributing Specialized Investment Funds (SIF). You can prepare on Modelexam using updated mock test papers covering SIF investment strategies, regulatory guidelines, investor suitability, and disclosure norms with instant chapter-wise grading.

What is NISM Series XXV-A (25A) Persons Associated with Research Services Exam?

NISM Series XXV-A (25A) is mandated for persons associated with research entities who perform sales, marketing, client onboarding, or non-core research services. Modelexam offers specialized practice exams with questions focused on research compliance, code of conduct, conflict management, and SEBI RA regulations.

How to clear NISM Series XV (Research Analyst) and NISM Series VIII (Equity Derivatives) on first attempt?

To clear NISM Series XV (Research Analyst) and NISM Series VIII (EDCE) on first attempt, practice all chapter tests, formula calculations (Option Greeks, DCF, financial ratios), and scenario-based case studies. Modelexam provides 1,000+ realistic practice questions with detailed explanations and bilingual training video classes.

What is the difference between NISM Series V-A (5A) and NISM Series V-D (5D)?

NISM Series V-A (5A) grants a license to distribute only traditional Mutual Funds (MF), whereas NISM Series V-D (5D) gives candidates the dual capability and license to distribute both Mutual Funds and Specialized Investment Funds (SIF). Because NISM 5D enables broader distribution authority across both MF and SIF products, it has become the top most wanted and popular exam among distributors in India. Modelexam provides updated 2026 syllabus mock tests and practice question banks for both NISM 5A and NISM 5D.

NISM offers a variety of certification courses to help individuals gain knowledge and skills in the securities markets. These courses cover a wide range of topics, including equity, debt, derivatives, mutual funds, and more.

What is the significance of these NISM certifications?

NISM certification is recognized by the Securities and Exchange Board of India (SEBI) and is mandatory for professionals working in the securities markets, banks, depositories, mutual funds, RTAs, etc.

How to get certified by NISM?

To get certified, you must pass the NISM certification exam. The NISM Exams are conducted online and can be taken in NISM & DEXIT Global (Formerly NSE iT) test centres.

Do Modelexam mock tests follow the latest 2026 syllabus?

Yes, all NISM mock tests on Modelexam are updated as per the 2026 syllabus with new case studies and questions.

How to prepare for NISM exams?

MODELEXAM® provides DEMO and PREMIUM Mock Tests. Practice using our PREMIUM exams. Plans start from Rs 149/- Attend all the PREMIUM EXAMS and review the answers. Prepare using our NISM Short Study Guides.

How do I renew my NISM certificate?

To renew your current certificate, you need to appear for NISM CPE or successfully pass the NISM Certification Examination before the expiry of such certificate.

NISM Mock Test 2026 | NISM 5A MFD, 8 EDCE, 15 Research Analyst, 5D, 25A, 21A PMSD

Mutual Fund

NISM Series V A : Mutual Fund Distributors Certification Exam - MFD (Earlier AMFI exam)

NISM Certification Exam Mock Tests

Mutual Fund

Mutual Fund & SIF (5D)

Research Services

Investment Adviser 1

PMSD Exam

Equity Derivatives

Research Analyst

SIF Exam

Commodity Derivatives

Investment Adviser 2

RTA (MUTUAL FUND)

Securities Operations

Currency Derivatives

Interest Rate Derivatives

AML and CFT

Insolvency and Bankruptcy (IBBI)

Common Derivatives

AIF Distributors (Category I and II)

AIF Distributors (Category III)

AIF Managers

Depository Operations

Social Impact Assessors

Merchant Banking

Portfolio Managers

Retirement Adviser

Mutual Fund Foundation

Securities Markets Foundation

SIC (Non-Fund)

AIF Managers ( Category I and II )

AIF Managers( Category 3 )

RTA Corporate

SIC (Fund)

IFSCA 01 - AML and CTF in IFSC

List of Discontinued Exams

Useful Information

Training Videos

Video Training Class - Playlists