NISM Exam 2024 : Exam Date, Application Form, Eligibility
Everything you need to know about NISM Exam 2024: admit card download, exam dates, eligibility, syllabus, and exam pattern details
NISM Exam and NISM Certification: An Overview
In the rapidly evolving financial sector of India, certifications have become essential for professionals who wish to enhance their careers and credibility. Among the most recognized certifications are those offered by the National Institute of Securities Markets (NISM). Understanding the NISM Exam and obtaining an NISM Certification can open up various opportunities in the financial services industry, particularly in roles related to securities markets.
What is the NISM Exam?
The NISM Exam is a series of certification exams conducted by the National Institute of Securities Markets, an educational initiative by the Securities and Exchange Board of India (SEBI). These exams are designed to certify professionals working in various segments of the financial markets, ensuring they have the necessary knowledge and skills to perform their roles effectively.
Each NISM exam focuses on a specific area of the financial markets, such as mutual funds, equity derivatives, investment advisory, securities operations, compliance, and more. Candidates who pass these exams are awarded the respective NISM Certification.
Importance of NISM Certification
An NISM Certification is more than just a professional requirement; it's a mark of credibility and competence in the financial industry. Here are some key reasons why obtaining an NISM Certification is important:
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Regulatory Compliance: For many roles within the financial sector, particularly those related to mutual funds, securities, and derivatives, an NISM Certification is mandatory by SEBI. This ensures that professionals are well-versed with the regulations and best practices governing the markets.
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Enhanced Career Prospects: Holding an NISM Certification can significantly boost your career prospects. It is recognized across the industry, making you a preferred candidate for various roles within financial institutions.
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Skill Development: Preparing for the NISM Exam involves rigorous study and understanding of complex financial concepts. This not only helps in passing the exam but also equips you with the knowledge needed to excel in your job.
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Credibility: An NISM Certification adds to your professional credibility, showcasing your commitment to maintaining high standards in your profession.
NISM Exam Pattern
| NISM Exam Aspect | NISM Exam Details |
|---|---|
| Number of Questions | The exam typically includes multiple-choice questions, with the exact number varying depending on the specific NISM certification. |
| Marking Scheme | Each question is usually worth 1 mark, contributing to the total score. |
| Negative Marking | A negative marking of 25% is applied to incorrect answers. For example, if a question is worth 4 marks and is answered incorrectly, 1 mark (25% of 4 marks) will be deducted from the total score. This discourages guessing and encourages careful answering. |
| Scoring Method | The final score is calculated by summing up all the correct answers and then deducting marks for incorrect responses according to the negative marking policy. |
| Passing Criteria | To pass the exam, candidates must achieve a minimum percentage of correct answers, typically around 60%. |
| Exceptions to Negative Marking | Certain exams, such as the NISM-Series-V-A (Mutual Fund Distributors Certification Examination), NISM Series XII (Securities Markets Foundation Certification Examination), and NISM-Series-V-B (Mutual Fund Foundation Certification Examination), do not have negative marking. |
| Result Declaration | Results are usually declared immediately after the exam or within a few days, depending on the specific NISM certification. |
| Certificate Issuance | Successful candidates receive a digital certificate within 15 working days of passing the exam. |
NISM Exam Age Limit
- Minimum Age: Candidates must be at least 18 years old to be eligible for the NISM Exam. This ensures that examinees have reached the age of majority and can engage in financial and business activities without restrictions.
- No Upper Age Limit: There is no specified upper age limit for taking the NISM Certification exams, allowing individuals at any stage of their career to pursue certification.
NISM Exam Educational Qualification
- Not Specified: NISM does not require any particular educational qualifications to take its exams. This inclusive approach allows individuals from diverse backgrounds in the financial markets to attempt the NISM Certification exams, ensuring that anyone with the necessary knowledge and interest can pursue certification.
Types of NISM Certifications
The National Institute of Securities Markets offers a wide range of certifications, each tailored to specific roles within the financial markets. Some of the prominent NISM Certifications include:
| Sr. No | NISM Exam | Test Duration | Fees (Rs) | Maximum Marks | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity (in years) | Attempt Free NISM Mock Test |
|---|---|---|---|---|---|---|---|---|---|
| 1 | NISM Series I: Currency Derivatives Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 2 | NISM Series II A: Registrars and Transfer Agents (Corporate) Certification Examination | 2hr | 1500 | 100 | 100 | 50 | 25 | 3 | Click Here |
| 3 | NISM Series II B: Registrars and Transfer Agents (Mutual Fund) Certification Examination | 2hr | 1500 | 100 | 100 | 50 | 25 | 3 | Click Here |
| 4 | NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 5 | NISM Series IV: Interest Rates Derivatives Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 6 | NISM Series V A: Mutual Fund Distributors Certification Examination | 2hr | 1500 | 100 | 100 | 50 | - | 3 | Click Here |
| 7 | NISM-SeriesV-B: Mutual Fund Foundation Certification Examination | 2hr | 1200 | 50 | 50 | 50 | - | 3 | Click Here |
| 8 | NISM Series VI: Depository Operations Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 9 | NISM Series VII: Securities Operations and Risk Management Certification Examination | 2hr | 1500 | 100 | 100 | 50 | 25 | 3 | Click Here |
| 10 | NISM-Series-VIII: Equity Derivatives Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 11 | NISM Series-IX: Merchant Banking Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 12 | NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination | 3hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 13 | NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination | 3hr | 3000 | 150 | 120 | 60 | 25 | 3 | Click Here |
| 14 | NISM Series-XII: Securities Markets Foundation Certification Examination | 2hr | 1770 | 100 | 100 | 60 | - | 3 | Click Here |
| 15 | NISM Series-XV: Research Analyst Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 16 | NISM-Series-XVI: Commodity Derivatives Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 17 | NISM-Series-XVII: Retirement Adviser Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 18 | NISM-Series-XIX-C: Alternative Investment Fund Managers Certification Examination | 3hr | 3540 | 150 | 120 | 60 | 25 | 3 | Click Here |
| 19 | NISM Series XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination | 2hr | 1500 | 100 | 100 | 60 | 25 | 3 | Click Here |
| 20 | NISM Series XXIII: Social Impact Assessors Certification Examination | 2hr | 1770 | 100 | 100 | 60 | 25 | 3 | Click Here |
How to Prepare for the NISM Exam?
Preparing for an NISM Exam requires a strategic approach. Here are some tips to help you get started:
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Understand the Syllabus: Begin by thoroughly understanding the syllabus of the exam you are planning to take. Each exam has its own specific syllabus, so make sure you cover all the topics.
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Study Material: Use the official study material provided by NISM. This material is designed to cover all aspects of the syllabus comprehensively.
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Practice Tests: Taking mock tests can significantly improve your chances of success. These tests help you familiarize yourself with the exam pattern and time management.
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Join Study Groups: Engaging in study groups can provide additional insights and help clarify doubts.
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Revision: Regular revision is key to retaining what you’ve studied. Make sure to revise frequently to keep the concepts fresh in your mind.
NISM Exam: FAQs
Q1. What is the NISM Certification?
Ans. The National Institute of Securities Markets (NISM) Certification is a series of qualifications offered by an institute established by the Securities Exchange Board of India (SEBI) in 2006. It aims to enhance the quality and standards of professionals working in the Indian securities market through various courses related to stock market operations.
Q2. Who can take the NISM Exams?
Ans. Anyone interested in enhancing their knowledge and skills in the securities market, including working professionals, students, or individuals seeking to improve their market understanding, is eligible to take NISM exams.
Q3. What are the types of NISM Exams available?
Ans. NISM offers a wide range of exams covering various aspects of the securities markets, including investor certification, currency derivatives, mutual funds, depository operations, merchant banking, and more. Each exam is designed to cater to specific market segments and roles.
Q4. Is there any age limit or educational qualification required for NISM Exams?
Ans. Candidates must be at least 18 years old to take NISM exams. However, there is no upper age limit or specific educational qualification required, making the exams accessible to a broad audience.
Q5. How can I register and schedule an NISM Exam?
Ans. Candidates can register and schedule their NISM exams through the official NISM certification portal. The portal provides detailed information on available exams, schedules, registration procedures, and other relevant details.
Q6. What is the NISM Remote Proctored Exam?
Ans. In response to the need for flexible examination options, NISM offers remote proctored exams that allow candidates to take their exams online with live monitoring. This option requires candidates to have a compatible Windows OS-based laptop/desktop, stable internet connectivity, and a webcam and microphone.
Q7. How is the NISM Exam structured?
Ans. NISM exams typically have a duration of 2 hours, with a mix of exams requiring different numbers of questions and marks. There is a negative marking of 25% for incorrect answers in most exams, except for certain modules where there is no negative marking.
Q8. How can I prepare for NISM Exams?
Ans. Candidates can prepare for NISM exams by studying the official workbooks provided by NISM, enrolling in preparatory courses, and taking mock tests to familiarize themselves with the exam pattern and question types.
Q9. What happens after passing the NISM Exam?
Successful candidates receive a soft copy of their certificate within 15 working days after the exam. Certificates are issued after verifying the candidate's PAN details against the Income Tax database.
Q10. How can I revalidate my NISM Certification?
Ans. Certificate revalidation can be initiated 12 months before the expiry date, either by completing specified NISM Continuing Professional Education (CPE) programs or by passing the relevant NISM exam again. The certificate will then be revalidated for another 3 years.
