NISM Series 7 - Securities Operations & Risk Management ( NISM VII )

What are the different names of SORM Exam ?

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What is SORM Exam?

SORM full form is Securities Operations & Risk Management. This NISM Series 7 exam is a compulsory exam for employees of registered stock-broker / trading member / clearing member in recognized stock exchanges, involved in

  1. Assets or funds of investor or clients
  2. Redressal of investor grievances,
  3. Internal control or risk management
  4. Activities having a bearing on operational risk.

Who can write / should write this SORM exam?

  1. Approved users (Dealers) of the trading member of a Registered Stock Broker or Trading Member or Clearing Member of a recognized stock exchange.
  2. Employees of Stock Brokers and Sub-Brokers in Capital Market Segment
  3. Students of all discipline but would be most useful to MBA Finance, B.Com, M.Com, Lecturers, and Professors etc.
  4. Anybody having interest in the Capital Market Segment

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How to Prepare for NISM SORM exam ?

NISM Series 7 Securities Operations & Risk Management Exam Mock Tests

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Where can I get NISM SORM Study Material ?

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Where can I get training for NISM SORM exam ?

Where can I get NISM Securities Operations Exam Dates ?

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How to do NISM Exam registration ?

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What topics are covered in NISM SORM syllabus ?

Syllabus Outline for NISM SORM Exam

NISM SORM Syllabus Weightages (Syllabus wise question %)
1: Introduction to Securities Markets 5%
2: Market Participants in the Securities Markets 10%
3: Introduction to Securities Broking Operations 20%
4: Risk Management 15%
5: Clearing Process 15%
6: Settlement Process 15%
7: Investor Grievances and Arbitration 10%
8: Other Services Provided by Brokers 10%

Assessment Structure: Exam Pattern for NISM SORM

DURATION 120 Minutes
NO. OF QUESTIONS 100
MAXIMUM MARKS 100
PASS MARK 50
NEGATIVE MARK 25% FOR WRONG ANSWERS
CERTIFICATE VALIDITY 3 YEARS
EXAM FEES Rs 1500/-

Syllabus

I. Introduction to the Securities Market

  1. Indian securities markets and its role in Indian economy
  2. Structure of Securities market
  3. Money market and its key features
  4. Products traded in the securities market

II. Market Participants in the Securities Market

  1. Types of investors
  2. Issuers
  3. Intermediaries
  4. Regulators and regulatory framework

III. Introduction to the Securities Broking Operations

  1. Trade life cycle
  2. Front office operations
    1. • Client on-boarding and registration
    2. • KYC
    3. • Unique Client Code
    4. • Order management
    5. • Order routing through the exchange
    6. • Execution of trade
  3. Risk management practices
  4. Surveillance mechanism
    1. • Trade enrichment
    2. • Trade allocation
    3. • Trade confirmation/modification
    4. • Clearing and settlement
    5. • Accounting
    6. • Information technology
    7. • Regulatory compliances

IV. Risk Management

  1. Risk Management practices
  2. Capital adequacy requirements
  3. Client account control
  4. Margin requirements
  5. Compliances and regulatory reporting

V. Clearing Process

  1. Clearing process
  2. Role of clearing agency in clearing of trades
  3. Role of clearing banks in clearing of trades
  4. Role of clearing members / Custodians in clearing of trades
  5. Role of depositories and depository participants in clearing of trades
  6. Clearing process for equities trading
  7. Clearing process for derivatives trading

VI. Settlement Process

  1. Settlement cycle
  2. Settlement of Internet based trading and order placed on phone
  3. Settlement of funds
  4. Settlement of securities
  5. Corporate actions adjustment
  6. Auction of securities

VII. Investor Grievances and Arbitration

  1. Redressal of investor grievance
  2. Procedure of arbitration
  3. Role of appellate arbitration

VIII. Other Services Provided by Brokers

  1. Services provided by brokers
  2. IPO applications
    1. • Collection of IPO application forms
    2. • ASBA facility
  3. Mutual fund trading through stock exchange
  4. Portfolio management services provided by brokers
  5. Research reports
  6. Depository services
  7. Margin trading
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