NISM Certification Exams Frequently Asked Questions

What is NISM? Why is it important ?

NISM stands for National Institute of Securities Markets. It’s a Public trust set up by SEBI.

NISM is the sole authority to issue certifications for all people working in financial markets.

NISM provides the following mandatory exams.

Sno NISM Exam Who Should Pass this 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 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 0.25 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 0.25 3
4 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
5 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
6 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
7 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
8 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
9 NISM Series-IX: Merchant Banking Certification Examination Employees of Investment Banking / Merchant Banking companies 2 hrs 1500/- 100 100 60 0.25 3
10 NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination Investment Advisors who want to charge Advisory Fee from clients 2 hrs 1500/- 100 100 60 0.25 3
11 NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination Investment Advisors who want to charge Advisory Fee from clients 2 hrs 1500/- 100 68 60 0.25 3

How and where to register for the NISM Certification Examinations?

Registration can be done ONLINE or OFFLINE.

NISM Exams can be taken in the following centres.

NISM Registration How to? Where?

Please do not register for NISM exams in any other sites.

How to prepare for the test?

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.