NISM Certification Exams: Comprehensive FAQ & Info

NISM (National Institute of Securities Markets) offers specialized certification courses recognized by SEBI, essential for professionals in the Indian securities markets.

What is NISM?

NISM covers a wide range of topics including Equity, Debt, Derivatives, Mutual Funds, and more. To get certified, you must pass the online NISM certification exam, typically conducted at NSE-IT test centers.

Registration & Fees

Register on the official NISM portal by selecting your course and date. The standard registration fee is ₹1,500/-.

View Registration Procedure

How to Prepare for NISM Exams?

# NISM Certification Exam Target Audience Duration Fee (₹) Max Marks Questions Pass % Negative Validity
1 NISM Series I: Currency Derivatives Certification Examination Dealers and Marketing / Sales Personel working in Currency Segment 2 hrs 1500/- 100 100 60 0.25 3
2 NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination Employees of Registrar and Transfer Agents of Corporates 2 hrs 1500/- 100 100 50 - 3
3 NISM Series II B: Registrars and Transfer Agents (Mutual Fund) Certification Examination Employees of Registrars and Transfer Agents ( CAMS, Karvy & Sundaram Fund Services etc) 2 hrs 1500/- 100 100 50 - 3
4 NISM Series III A: Securities Intermediaries Compliance (Non-Fund) Certification Examination - 2 hrs 1500/- 100 100 60 0.25 3
5 NISM III C : Securities Intermediaries Compliance (Fund) Certification Examination Professionals handling compliance roles in SEBI-registered intermediaries (Mutual Funds, AIFs, REITs, InvITs) 2 hrs 1770/- 100 100 60 0.25 3
6 NISM Series IV: Interest Rates Derivatives Certification Examination - 2 hrs 1500/- 100 100 60 0.25 3
7 NISM Series V A: Mutual Fund Distributors Certification Examination Anyone who wants to become a Normal Mutual Fund Advisor 2 hrs 1500/- 100 100 50 0 3
8 NISM Series V B: Mutual Fund Foundation Certification Examination Anyone who wants to become a Simple Mutual Fund Advisor 2 hrs 1200/- 50 50 50 0 3
9 NISM Series VI: Depository Operations Certification Examination Employees working in Demat section of Banks, Sharebroking Offices etc 2 hrs 1500/- 100 100 60 0.25 3
10 NISM Series VII: Securities Operations and Risk Management Certification Examination Dealers and Marketing/ Sales Personel working in Share Broking office 2 hrs 1500/- 100 100 50 0.25 3
11 NISM Series VIII: Equity Derivatives Certification Examination Dealers and Marketing/ Sales Personel working in Equity Derivatives Segment 2 hrs 1500/- 100 100 60 0.25 3
12 NISM Series IX: Merchant Banking Certification Examination Employees of Investment Banking / Merchant Banking companies 2 hrs 1500/- 100 100 60 0.25 3
13 NISM Series X A: Investment Adviser (Level 1) Certification Examination Investment Advisors who want to charge Advisory Fee from clients 3 hrs 3000/- 150 135 60 0.25 3
14 NISM Series X B: Investment Adviser (Level 2) Certification Examination Investment Advisors who want to charge Advisory Fee from clients 3 hrs 3000/- 150 120 60 0.25 3
15 NISM-Series-X-C: Investment Adviser Certification (Renewal) Examination - 1 hr 2500/- 50 50 50 0 3
16 NISM Series XII: Securities Markets Foundation Certification Examination - 2 hrs 1770/- 100 100 60 0 3
17 NISM Series XIII: Common Derivatives Certification Examination - 3 hrs 3000/- 150 150 60 0.25 3
18 NISM Series XV: Research Analyst Certification Examination Anyone who wants to become a Research Analyst 2 hrs 1500/- 100 100 60 0.25 3
19 NISM Series XV-B: Research Analyst Certification (Renewal) Examination - 1 hr 2500/- 50 50 50 0 3
20 NISM Series XVI: Commodity Derivatives Certification Examination - 2 hrs 1500/- 100 100 60 0.25 3
21 NISM Series XVII: Retirement Adviser Certification Examination Any entity acting or desirous of acting as retirement adviser under PFRDA Regulations 2 hrs 1500/- 100 100 60 0.25 3
22 NISM Series XIX A: Alternative Investment Funds (Category I and II) Distributors - 2 hrs 1770/- 100 100 60 0.25 3
23 NISM Series XIX B: Alternative Investment Funds (Category III) Distributors - 2 hrs 1770/- 100 100 60 0.1 3
24 NISM Series XIX C : Alternative Investment Fund Managers Certification Examination - 3 hrs 3000/- 150 120 60 0.25 3
25 NISM Series XIX-D : Category I and II Alternative Investment Fund Managers Certification Examination - 2 hrs 1500/- 100 80 60 0.25 3
26 NISM Series XIX E : Category III Alternative Investment Fund Managers Certification Examination - 2 hrs 1500/- 100 80 60 0.25 3
27 NISM Series XXI A: Portfolio Management Services (PMS) Distributors - 2 hrs 1500/- 100 100 60 0.1 3
28 NISM Series XXI-B: Portfolio Managers Certification Examination - 3 hrs 3000/- 150 120 60 0.25 3
29 NISM Series XXIII: Social Impact Assessors Certification Examination - 2 hrs 1770/- 100 100 60 0.25 3
30 NISM Series XXIV : AML and CFT Provisions in Securities Markets Certification Examination - 1 hr 885/- 50 50 50 0 3
31 IBBI Valuation Examination in the Asset Class: Land and Building - 2 hrs 5900/- 100 90 60 0.25 -
32 IBBI Valuation Examination in the Asset Class: Plant and Machinery - 2 hrs 5900/- 100 90 60 0.25 -
33 IBBI Valuation Examination in the Asset Class: Securities or Financial Assets - 2 hrs 5900/- 100 90 60 0.25 -
34 SEBI Investor Awareness Test - 1 hr Free 50 50 50 0 2
35 NISM IFSCA 01 : Certification Course on Anti Money Laundering and Counter Terrorist Financing in the IFSC Suitable for regulated entities operating in the IFSC domain 1 hr (Rs. 750/-) plus taxes 50 50 50 0 2
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