Comprehensive Guide to NISM-Series-XV: Research Analyst Certification
15th Aug 2024
Myonlineprep
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NISM-Series-XV: Research Analyst Certification Examination
The NISM-Series-XV: Research Analyst Certification Examination is a vital qualification for professionals registered as research analysts under SEBI (Research Analyst) Regulations, 2014. This certification is mandatory for those involved in the preparation and publication of research reports or analyses, ensuring that they meet regulatory standards and deliver high-quality services within the financial services industry.
Examination Objectives of NISM-Series-XV: Research Analyst Certification
The NISM-Series-XV: Research Analyst Certification is designed to equip candidates with essential knowledge and skills. Upon successful completion, candidates will:
- Understand Indian Securities Markets: Develop a comprehensive understanding of the Indian securities markets and key terminologies used in equity and debt markets.
- Master Research Approaches: Learn the top-down and bottom-up approaches to fundamental research, crucial for effective analysis.
- Conduct Economic and Industry Analysis: Gain insights into the principles of micro and macroeconomic analysis, identify key industry drivers, and source critical industry information.
- Perform In-depth Company Analysis: Learn how to analyze companies both qualitatively and quantitatively, focusing on business governance and financial analysis.
- Understand Risk and Valuation: Master the fundamentals of risk and return, valuation principles, and the impact of corporate actions on valuations.
- Craft Quality Research Reports: Acquire the skills necessary to produce high-quality research reports that effectively communicate findings and insights.
Eligibility for NISM-Series-XV: Research Analyst Certification Examination
The NISM-Series-XV: Research Analyst Certification Examination is intended for:
- Registered Research Analysts: Individuals who are registered under SEBI regulations as research analysts.
- Associated Persons: Employees and partners involved in research analysis and report preparation.
- Aspiring Analysts: Those looking to enter the research analysis field within the financial services industry.
- Financial Professionals: Individuals interested in deepening their understanding of research analysis and its application in the securities markets.
Assessment Structure of NISM-Series-XV: Research Analyst Certification Examination
The NISM-Series-XV: Research Analyst Certification Examination assessment structure is as follows:
Aspect | Details |
---|---|
Number of Questions | (92 + 8) = 100 |
Question Type | MCQs = 92 Questions (1 mark) |
2 Case-based = 4 x 2 Questions (1 mark) | |
Total Marks | 100 marks |
Duration | 2 hours |
Passing Score | 60% (60 marks out of 100) |
Negative Marking | 25% deduction for each incorrect answer |
Syllabus Outline and Weightages for NISM-Series-XV: Research Analyst Certification Examination
The syllabus for the NISM-Series-XV: Research Analyst Certification Examination covers the following key areas:
Unit No. | Unit Name | Weightage (%) | Attempt Free NiSM Mock Test |
---|---|---|---|
Unit 1 | Introduction to Research Analyst Profession | 3% | Click Here |
Unit 2 | Introduction to Securities Market | 4% | Click Here |
Unit 3 | Terminology in Equity and Debt Markets | 4% | Click Here |
Unit 4 | Fundamentals of Research | 5% | Click Here |
Unit 5 | Economic Analysis | 10% | Click Here |
Unit 6 | Industry Analysis | 10% | Click Here |
Unit 7 | Company Analysis – Business and Governance | 8% | Click Here |
Unit 8 | Company Analysis – Financial Analysis | 16% | Click Here |
Unit 9 | Corporate Actions | 5% | Click Here |
Unit 10 | Valuation Principles | 16% | Click Here |
Unit 11 | Fundamentals of Risk and Return | 5% | Click Here |
Unit 12 | Qualities of a Good Research Report | 4% | Click Here |
Unit 13 | Legal and Regulatory Environment | 10% | Click Here |
Preparation Strategy for NISM-Series-XV: Research Analyst Certification Examination
To excel in the NISM-Series-XV: Research Analyst Certification Examination, a structured preparation strategy is crucial. Here’s how to ensure success:
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Understand the Syllabus: Begin by thoroughly reviewing the syllabus for the NISM-Series-XV: Research Analyst Certification. Focus on the chapters with the highest weightages, such as "Company Analysis – Financial Analysis" and "Valuation Principles," as these will contribute significantly to your overall score.
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Utilize MYONLINEPREP Resources: Leverage the resources available on MYONLINEPREP , including mock tests and study guides specifically tailored for the NISM-Series-XV: Research Analyst Certification Examination. These tools will help you become familiar with the exam format and question types.
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Practice with Mock Tests: Regularly taking mock tests on MYONLINEPREP is essential. These tests simulate the actual exam environment, helping you manage time effectively and identify areas where you need further study. MYONLINEPREP's mock tests are designed to cover all aspects of the NISM-Series-XV: Research Analyst Certification syllabus, ensuring comprehensive preparation.
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Review Case-based Questions: Given the importance of case-based questions in the NISM-Series-XV: Research Analyst Certification Examination, practice these thoroughly. Understanding how to apply theoretical knowledge in practical scenarios is key to scoring well.
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Consistent Revision: Regularly revising key topics, especially those related to economic analysis, industry analysis, and financial analysis, will reinforce your understanding and help retain critical information.
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Stay Updated: Keep yourself informed about the latest developments in financial markets, economic trends, and SEBI regulations. This knowledge will not only be useful in the exam but also in your professional career as a research analyst.
Details Topic-wise Syllabus of the NISM-Series-XV: Research Analyst Certification Examination
Unit No. | Chapter Name | Topic Name |
---|---|---|
Chapter 1 | Introduction to Research Analyst Profession | Primary Role of a Research Analyst |
Primary Responsibilities of a Research Analyst | ||
Basic Principles of Interaction with Companies/Clients | ||
Important Qualities of a Research Analyst | ||
Chapter 2 | Introduction to Securities Market | Introduction to Securities and Securities Market |
Product Definitions / Terminology | ||
Structure of Securities Market | ||
Various Market Participants and Their Activities | ||
Kinds of Transactions | ||
Dematerialization and Rematerialization of Securities | ||
Chapter 3 | Terminology in Equity and Debt Markets | Terminology in Equity Market |
Terminology in Debt Market | ||
Types of Bonds | ||
Chapter 4 | Fundamentals of Research | What is Investing? |
The Role of Research in Investment Activity | ||
Technical Analysis | ||
Fundamental Analysis | ||
Quantitative Research | ||
Behavioral Approach to Equity Investing | ||
Chapter 5 | Economic Analysis | Basic Principles of Microeconomics |
Basic Principles of Macroeconomics | ||
Introduction to Various Macroeconomic Variables | ||
Role of Economic Analysis in Fundamental Analysis | ||
Secular, Cyclical and Seasonal Trends | ||
Sources of Information for Economic Analysis | ||
Chapter 6 | Industry Analysis | Role of Industry Analysis in Fundamental Analysis |
Defining the Industry | ||
Understanding Industry Cyclicality | ||
Market Sizing and Trend Analysis | ||
Secular Trends, Value Migration and Business Life Cycle | ||
Understanding the Industry Landscape | ||
Key Industry Drivers and Industry KPIs | ||
Regulatory Environment/Framework | ||
Taxation | ||
Sources of Information for Industry Analysis | ||
Chapter 7 | Company Analysis – Business and Governance | Role of Company Analysis in Fundamental Research |
Understand Business and Business Models | ||
Pricing Power and Sustainability of This Power | ||
Competitive Advantages/Points of Differentiation over the Competitors | ||
Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis | ||
Quality of Management and Governance Structure | ||
Risks in the Business | ||
History of Credit Rating | ||
ESG Framework for Company Analysis | ||
Sources of Information for Analysis | ||
Chapter 8 | Company Analysis – Financial Analysis | Introduction to Financial Statement |
Stand-Alone Financial Statement and Consolidated Financial Statement | ||
Balance Sheet | ||
Basics of Profit and Loss Account (P/L) | ||
Statement of Changes in Shareholder’s Equity | ||
Basics of Cash Flows | ||
Notes to Accounts | ||
Important Points to Keep in Mind While Looking at Financials | ||
Reading Audit Report to Understand the Quality of Accounting | ||
Financial Statement Analysis Using Ratios | ||
Commonly Used Ratios | ||
Dupont Analysis | ||
Forecasting Using Ratio Analysis | ||
Peer Comparison | ||
Other Aspects to Study from Financial Reports | ||
Chapter 9 | Corporate Actions | Philosophy of Corporate Actions |
Dividend | ||
Rights Issue | ||
Bonus Issue | ||
Stock Split | ||
Share Consolidation | ||
Merger and Acquisition | ||
Demerger / Spin-off | ||
Scheme of Arrangement | ||
Loan Restructuring | ||
Buyback of Shares | ||
Delisting and Relisting of Shares | ||
Share Swap | ||
Chapter 10 | Valuation Principles | Difference between Price and Value |
Why Valuations Are Required | ||
Sources of Value in a Business – Earnings and Assets | ||
Approaches to Valuation | ||
Discounted Cash Flows Model for Business Valuation | ||
Relative Valuation | ||
Earnings-Based Valuation Matrices | ||
Assets-Based Valuation Matrices | ||
Relative Valuations - Trading and Transaction Multiples | ||
Sum-Of-The-Parts (SOTP) Valuation | ||
Other Valuation Parameters in New Age Economy and Businesses | ||
Capital Asset Pricing Model | ||
Objectivity of Valuations | ||
Some Important Considerations in the Context of Business Valuation | ||
Valuation Challenges in Special Situations | ||
Chapter 11 | Fundamentals of Risk and Return | Concept of Return of Investment and Return on Investment |
Calculation of Simple, Annualized and Compounded Returns | ||
Risks in Investments | ||
Measuring Risk | ||
Concepts of Market Risk (Beta) | ||
Sensitivity Analysis to Assumptions | ||
Concept of Margin of Safety | ||
Comparison of Equity Returns with Bond Returns | ||
Calculating Risk Adjusted Returns | ||
Basic Behavioral Biases Influencing Investments | ||
Some Pearls of Wisdom from Investment Gurus across the World | ||
Measuring Liquidity of Equity Shares | ||
Chapter 12 | Qualities of a Good Research Report | Qualities of a Good Research Report |
Checklist Based Approach to the Research Reports | ||
A Sample Checklist for Investment Research Reports | ||
Chapter 13 | Legal and Regulatory Environment | Regulatory Infrastructure in Financial Markets |
Important Regulations in Indian Securities Market | ||
Code of Conduct for Research Analysts | ||
Management of Conflicts of Interest and Disclosure Requirements for Research Analysts | ||
Exchange Surveillance Mechanisms: GSM and ASM |
Benefits of Passing the NISM-Series-XV: Research Analyst Certification Examination
Passing the NISM-Series-XV: Research Analyst Certification Examination offers numerous benefits:
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Regulatory Compliance: Fulfills the mandatory requirement under SEBI regulations for research analysts, ensuring that you meet industry standards.
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Enhanced Credibility: Holding the NISM-Series-XV: Research Analyst Certification demonstrates your expertise and commitment to high standards in research analysis, boosting your professional credibility.
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Career Advancement: Opens up opportunities in research analysis within the financial services industry, including roles in equity research, investment analysis, and financial consulting.
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Comprehensive Knowledge: Provides a deep understanding of various aspects of research analysis, including economic and industry analysis, company analysis, and valuation principles, which are essential for making informed investment decisions.
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Improved Research Quality: Equips you with the skills to produce high-quality research reports that effectively communicate your findings and insights to clients or stakeholders.
FAQs for NISM-Series-XV: Research Analyst Certification Examination
Q1: What is the NISM-Series-XV: Research Analyst Certification Examination?
A1: The NISM-Series-XV: Research Analyst Certification Examination is a mandatory certification for individuals registered as research analysts under SEBI regulations. It ensures that professionals meet the required knowledge benchmark for preparing and publishing research reports.
Q2: Who should take the NISM-Series-XV: Research Analyst Certification Examination?
A2: This exam is ideal for registered research analysts, employees and partners of research analysts, aspiring analysts, and financial professionals looking to deepen their understanding of research analysis.
Q3: What is the structure of the NISM-Series-XV exam?
A3: The exam consists of 92 multiple-choice questions and 2 case-based questions, totaling 100 marks. The exam duration is 2 hours, with a passing score of 60%. There is a 25% negative marking for incorrect answers.
Q4: How can MYONLINEPREP help me prepare for the NISM-Series-XV: Research Analyst Certification Examination?
A4: MYONLINEPREP offers comprehensive study materials, mock tests, and detailed guides specifically tailored for the NISM-Series-XV: Research Analyst Certification Examination. These resources will help you familiarize yourself with the exam format and practice effectively.
Q5: What are the benefits of passing the NISM-Series-XV certification exam?
A5: Passing this exam ensures regulatory compliance, enhances professional credibility, opens up career opportunities, and equips you with comprehensive knowledge in research analysis.
Q6: How do I register for the NISM-Series-XV exam?
A6: You can register for the exam by visiting the official NISM website at www.nism.ac.in, where you'll find detailed instructions on the registration process.
Q7: What skills will I gain from the NISM-Series-XV certification?
A7: You will gain a thorough understanding of the Indian securities markets, research methodologies, economic and industry analysis, company analysis, valuation principles, and the qualities of a good research report.
Q8: Are there any study resources available to help with exam preparation?
A8: Yes, NISM provides official study materials, and MYONLINEPREP offers mock tests and additional resources to aid in your exam preparation for the NISM-Series-XV: Research Analyst Certification
15th Aug 2024
Myonlineprep
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