NISM Series 3A Securities Intermediaries Compliance (Non-Fund) Mock test
NISM 3A Examination Specifications
This is a computer-based examination with multiple choice questions.- The examination consists of 100 questions of 1 mark each adding to 100 marks.
- The examination should be completed in 2 hours.
- There shall be negative marking of 25% of the marks assigned to the question for each wrong
answer.
- The passing score for the examination is 60 marks.
- Exam fee Rs. 1500/- + Payment gateway charges extra.
- Passing Certificate will be issued only to those candidates who have furnished/ updated their
Income Tax Permanent Account Number (PAN) in their registration details.
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NISM Exams Schedule
Where can I get NISM IIIA Securities Intermediaries Compliance (Non-Fund) Study Material?
Click here for NISM 3A Study materialNISM 3A Exam - Syllabus Outline with Weightages
| Unit No. | Unit Name | Weightages% |
|---|---|---|
| Part A: Understanding the Financial and Regulatory Structure in India (60 marks) | ||
| Unit 1 | Introduction to Financial System | 5% |
| Unit 2 | Regulatory Framework: General View | 10% |
| Unit 3 | Introduction to Compliance | 4% |
| Unit 4 | SEBI Act, 1992 | 7% |
| Unit 5 | Securities Contracts (Regulation) Act, 1956 and Securities Contracts (Regulation) Rules, 1957 | 6% |
| Unit 6 | SEBI (Intermediaries) Regulations, 2008 | 6% |
| Unit 7 | SEBI (Prohibition of Insider Trading) Regulations, 1992 | 6% |
| Unit 8 | SEBI (Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 | 6% |
| Unit 9 | The Prevention of Money Laundering Act, 2002 | 7% |
| Unit 10 | SEBI (KYC Registration Agency) Regulations, 2011 | 3% |
| Part B: Understanding Intermediary Specific Regulations (40 marks) | ||
| Unit 11 | SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 | 8% |
| Unit 12 | SEBI (Merchant Bankers) Regulations, 1992, Listing Agreement & SEBI (Delisting of Securities) Guidelines, 2003, SEBI Takeover Code & SEBI (Buyback of Securities) Regulations, 2006 | 6% |
| Unit 13 | SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 | 5% |
| Unit 14 | Depositories Act, 1996 | 3% |
| Unit 15 | SEBI (Depositories and Participants) Regulations, 1996 | 3% |
| Unit 16 | SEBI (Bankers to an Issue) Regulations, 1994 | 3% |
| Unit 17 | SEBI (Underwriters) Regulations, 1993 | 3% |
| Unit 18 | SEBI (Debenture Trustees) Regulations, 1993 | 3% |
| Unit 19 | SEBI (Credit Rating Agencies) Regulations, 1999 | 3% |
| Unit 20 | SEBI (Custodian of Securities) Regulations, 1996 | 3% |
Syllabus - NISM Series III A : Securities Intermediaries Compliance (Non-Fund) Exam
Part A – Understanding the Financial and Regulatory Structure in India
1. Introduction to the Financial System
Understand the Indian Financial System- Know about the Financial Market Intermediaries
- Know the various types of Financial Securities
- Regulatory Framework - General View
- Know the Regulatory System in India
- Know the role of the Financial Market Regulators
- Understand the role of other regulators in the financial market: ROC, EOW, FIU-I, Police
Authorities
- Know the role of Appellate Authority
- Know the Legislative Framework Governing the Financial market
- Introduction to Compliance
- Understand the need for Compliance
- Know the Role and Reporting Structure of Compliance Officers (CO)
- Understand the Responsibilities of COs towards Stakeholders
- Know the Compliance requirements under the SEBI (CAPSM) Regulations, 2007
- SEBI Act, 1992
- Understand the SEBI Act, 1992
- Securities Contracts (Regulation) Act, 1956 and Securities Contracts (Regulation) Rules,
1957
- Understand the sections of the SC(R)A, 1956 pertaining to
- Call for Periodical Returns
- Contracts and options in securities
- Penalties and Procedures
2. Understand the following Rules of the SC(R)R 1957
- Eligibility criteria for membership of a recognized stock exchange
- Contracts between members
- Audit of accounts of members
- Books of account
3. Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations 2012
SEBI (Intermediaries) Regulations, 1992
- Understand the SEBI (Intermediaries) Regulations.
- Know the General Obligations of the Intermediaries.
- Know the obligation of the intermediaries on Inspection and Disciplinary Proceedings
- Understand the action in case of default and Manner of Suspension and Cancellation of
Certificate
- Know the Code of Conduct for intermediaries. SEBI (Prohibition of Insider Trading)
Regulations, 1992
- Understand the SEBI (Prohibition of Insider Trading) Regulations, 2015
- Discuss the Code of conduct for prevention of insider trading.
- SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market)
Regulations, 2015
- Understand the Regulation w.r.t. the prohibition of certain dealings in securities.
- Know the various prohibitions related to manipulative, fraudulent and unfair trade
practices.
- Know the procedure for Investigation.
- Prevention of Money Laundering Act 2002
- Understand the Prevention of Money Laundering Act, 2002.
- Know the highlights of PMLA, 2002
- Know the general obligations keeping in mind the AML guidelines issued by SEBI.
- Know the provisions as stated in the SEBI (Foreign Portfolio Investors) Regulations,
2014.
- Unit 10: SEBI (KYC Registration Agency) Regulations, 2011
- Understand the registration process
- Know the obligations while surrendering the certificate of registration.
- Understand the Functions and Obligations of KRA and Intermediary.
- Know the obligations of the KRA on inspection by SEBI.
Part B - Understanding Intermediary Specific Regulations
1. SEBI (Stock Brokers and Sub-brokers) Regulations, 1992, Listing Agreement and SEBI (Delisting of Securities) Guidelines, 2003
- Registration of Stock Brokers
- Registration of Sub-Brokers
- Registration of trading and clearing member
- General obligations and responsibilities
- Procedure for Inspection
- Procedure for action in case of default
- Code of conduct for Stock brokers
- Code of conduct for Sub brokers
- Regulation of transactions between clients and brokers
- Transactions between clients and brokers
- Unique Client Code
- Capital Adequacy norms for brokers
- Maintenance of books of account and other documents in the manner sought by the
enforcement agencies
- Inspection of brokers by Stock exchanges
- Direct Market Access – operational specifications, risk management, broker to be liable
for DMA trades
- Fees payable by Stock Brokers
2. Understand the SEBI (Alternate Investment Funds) Regulation, 2012 w.r.t
- Registration as an AIF
- Eligibility Criteria
- Investment conditions and restriction
- General obligations of AIF
SEBI (Merchant Bankers) Regulations, 1992 & others
- Definition of a merchant banker.
- Procedure for registration as a merchant banker.
- Eligibility criteria for grant of certificate.
- Capital adequacy requirement.
3. SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
4. SEBI (Delisting of Equity Shares) Regulations, 2009
5. SEBI (Buyback of Securities) Regulations, 2018
SEBI (Issue of Capital Disclosure and Requirements) Regulations, 2009
- Introduction of SEBI ICDR Regulations, 2009
- Know the Allocation of Responsibilities
- Know the role of merchant bankers as advisors to the issuer company.
- Know the Due Diligence and Compliances.
- Understand the Role as an Underwriter.
- Know the General Obligations of Merchant Bankers with respect to Public and Rights Issue.
SEBI (Depositories) Regulations, 1996
- Understand the SEBI (Depositories) Regulations, 1996.
- Know the Rights and Obligations of the Depositories.
- Know the enquiry and inspection procedure followed by SEBI and the penalties.
- Know the Miscellaneous issues.
SEBI (Depositories and Participants) Regulations, 2018
- Understand the procedure of registration of a depository participant.
- Know the rights and obligations of the depository participant.
- Know the Action in case of any Default.
- Know the Code of conduct for participants.
SEBI (Bankers to an Issue) Regulations, 1994
- Know the procedure of application and registration as a Banker to an Issue.
- Understand the general obligations and responsibilities of Banker to an Issue.
- Know the Code of conduct for the Bankers to an Issue.
- List the obligations of a banker to an issue in case of inspection by.
SEBI (Underwriters) Regulations, 1993
- Know the procedure of application and registration as a Underwriter
- List the general obligations and responsibilities as an Underwriter.
- Know the Code of conduct for the Underwriters.
SEBI (Debenture Trustees) Regulations, 1993
- Understand the procedure of application and registration as Debenture Trustees.
- Know the Capital Adequacy requirements as Debenture Trustees.
- Understand the following general obligations and responsibilities.
- Know the Code of conduct for the Debenture Trustees.
- Know the Obligations of the Debenture Trustees on Inspection by SEBI.
- Understand the process of dissemination of Information by Debenture Trustees.
SEBI (Credit Rating Agencies) Regulations, 1999
- Know the Registration process for Credit Rating Agencies.
- Know the General Obligations of Credit Rating Agencies.
- Understand the Restrictions on Rating w.r.t:
Securities issued by Promoters- Securities issued by entities connected with Promoter etc
- Securities already rated
- Know Code of conduct of the Credit Rating Agencies.
- List out the Guidelines issued by SEBI for Credit Rating Agencies.
SEBI (Custodian of Securities) Regulations, 1996
- Understand the different Custodial Services.
- Know the eligibility criteria and the registration process.
- Highlight the General Obligations and Responsibilities of Custodians.
- Know the Code of Conduct.