The full form of NISM is National Institute of Securities Markets. NISM is the educational arm of Securities and Exchange Board of India (SEBI). There are around 30 types of NISM certifications that students can register for. The exam window of NISM certification courses is open all throughout the year. Candidates are required to register for the exam through NISM login in order to appear for the certification exam. The entire registration process is online. The NISM certification exams are conducted in offline mode. Candidates will get their NISM certification certificate within 15 days of declaration of result, given that the candidates have cleared the exam. Read on to get detailed information about NISM certification, registration process of the exam, important dates and more.
|
Name of the exam |
NISM certification |
|
Full form of NISM |
National Institute of Securities Markets |
|
Frequency of exam |
All throughout the year |
|
Total certification exams |
30 |
|
Application Mode |
Online |
To check monthly exam schedule of NISM certification - CLICK HERE
The registration process of NISM certification courses is open all throughout the year. The testing window of NISM courses is also open all throughout the year. The important dates and schedule of NISM certification have been given below:
|
Event |
Date |
|
Registration for NISM certification |
Open throughout the year |
|
Testing window of NISM certification |
Open throughout the year |
|
Admit card date |
Immediately after scheduling of the test |
There is no specific eligibility criteria of NISM related to pre-requisite educational qualifications. Furthermore, there are also no age requirements to take up NISM certification. The details about NISM certification courses has been given below:
NISM Certification Courses, Pass Marks, Fee, Certificate Validity
|
Sr. |
NISM Certification Examinations |
Duration (in mins) |
Max Marks |
POSS Marks(%) |
Negative Marks |
Certificate Validity |
Fees (T) |
|
01 |
NISM-Series-I: Currency Derivatives |
120 |
100 |
60 |
25% |
3 |
1500 |
|
02 |
NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents - Corporate |
120 |
100 |
50 |
25% |
3 |
1500 |
|
03 |
NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents -Mutual Fund |
120 |
100 |
50 |
25% |
3 |
1500 |
|
04 |
NISM-Series- III-A: Securities Intermediaries Compliance (Non- Fund) |
120 |
100 |
ó0 |
25% |
3 |
1500 |
|
05 |
NISM-Series-III-B: Issuers Compliance |
120 |
100 |
ô0 |
25% |
3 |
1770 |
|
06 |
NISM-Series- IV: Interest Rate Derivatives |
120 |
100 |
60 |
25% |
3 |
1500 |
|
07 |
NISM-Series-V-A: Mutual Fund Distributors |
120 |
100 |
50 |
3 |
1500 |
|
|
08 |
NISM-Series-V-B: Mutual Fund Foundation |
120 |
50 |
50 |
3 |
1200 |
|
|
05' |
NlSM-Series-V-C: Mutual Fund Distributors (Level 2) |
120 |
100 |
60 |
25% |
3 |
1770 |
|
10 |
NISM-Series-VI: Depository Operations |
120 |
100 |
60 |
25% |
3 |
1500 |
|
11 |
NISM-Series-VII: Securities Operations and Risk Management |
120 |
100 |
50 |
25% |
3 |
1500 |
|
12 |
NISM-Series-VIII: Equity Derivatives |
120 |
100 |
ó0 |
25% |
3 |
1500 |
|
13 |
NISM-Series-IX: Merchant Banking |
120 |
100 |
60 |
25% |
3 |
1500 |
|
14 |
NISM-Series-X-A: Investment Adviser (Level 1 ) |
180 |
150 |
60 |
25% |
3 |
3000 |
|
15 |
NISM-Series-X-B: Investment Adviser (Level 2) |
180 |
150 |
ô0 |
25% |
3 |
3000 |
|
1 ó |
NISM-Series-XII: Securities Markets Foundation |
120 |
100 |
ó0 |
3 |
1770 |
|
|
17 |
NISM-Series-XIII: Common Derivatives |
180 |
150 |
60 |
25% |
3 |
3000 |
|
18 |
NISM-Series-XV: Research Analyst |
120 |
100 |
60 |
25% |
3 |
1500 |
|
19 |
NISM-Series-XVI: Commodity Derivatives |
120 |
100 |
ô0 |
25% |
3 |
1500 |
|
20 |
NISM-Series-XVII: Retirement Adviser |
120 |
100 |
60 |
25% |
3 |
1500 |
|
21 |
NISM-Series-XVIII: Financial Education |
120 |
50 |
50 |
3 |
1416 |
|
|
22 |
NISM-Series-XIX-A: Alternative Investment Funds (Category I and Il) Distributors |
120 |
100 |
60 |
25% |
3 |
1770 |
|
23 |
NlSM-Series-XIX-B: Alternative Investment Funds (Category III) Distributors |
120 |
100 |
60 |
25% |
3 |
1770 |
|
24 |
NISM-Series-XX: Taxation in Securities Markets |
120 |
100 |
ó0 |
25% |
3 |
1770 |
|
25 |
NlSM-Series-XXI-A: Portfolio Management Services (PMS) Distributors |
120 |
100 |
ô0 |
25% |
3 |
1500 |
|
26 |
NISM- Serìes-XXI- B: Portfolio Managers |
180 |
150 |
60 |
25% |
3 |
3000 |
|
27 |
NISM-Series-XXII: Fixed Income Securities |
120 |
100 |
60 |
25% |
3 |
1770 |
|
28 |
IBBI: Valuation Examination in the Asset class: Land and Building |
120 |
100 |
ó0 |
25% |
5,900 |
|
|
29 |
IBBI: Yoluotion Exominofion in the Assef class: Plant and Machinery |
120 |
100 |
ô0 |
25% |
5,900 |
|
|
30 |
IBBI: Valuation Examination in the Asset class: Securities or Financial Assets |
120 |
100 |
ó0 |
25% |
5,900 |
Interested applicants will be required to complete their NISM registration through the NISM Online Certification System. The registration process for NISM certification is completely online. Candidates are advised to register for the NISM exam well in advance for best chances to book their exam slot on their preferred date or time. The detailed step by step registration process of NISM certification has been given below:
Registration: Candidates will be required to first register for the exam through the official website by entering their basic details and uploading scanned copies of their photograph, pan card and proof of address.
Fill the detailed application form: Candidates are then required to fill in additional details like their correspondence address, educational qualifications, professional details, occupational details etc. Click on the submit button at the bottom after entering and verifying all the details.
Complete the activation process: Upon clicking on submit at the registration stage, candidates will then be sent an activation mail to their registered email. Candidates need to click on the activation email and login to their account. Candidates will be allotted a registration number upon successful login. It is advisable that candidates note down this NISM certification registration number.
Enroll for NISM exam: The next step in the journey to attain a NISM certification is enrolling for an exam. Candidates will be required to click on the ‘enrolment for certification’ tab and schedule their exam according to their preference. However, there are no guaranteed chances of getting your preferred slot.
Select test centre: After enrolling for the exam, applicants will have to choose a test centre and time slot for their NISM exam as per their choice. Candidates are advised to check the seat availability at a particular test centre.
Payment: Upon successfully selecting the test centre candidates will be redirected to the payment gateway where they will be required to pay the registration fee in their preferred mode of payment.
Payment confirmation: This is the last step of the NISM registration process. Once the payment has been made successfully, the payment confirmation page will be displayed. Candidates are advised to download the payment confirmation page and take a print if required for use in future.
Candidates must check the NISM certification syllabus thoroughly before starting their preparation for the exam. Understanding the syllabus of NISM certification will give candidates a detailed view of topics and key areas that will be covered in the exam. The detailed exam wise curriculum of NISM certification has been given below:
I. Introduction to Commodity Markets
A. History of Commodity Trading
B. Spot and Derivatives Trading in Commodities
C. Major Commodities Traded in Derivatives Exchanges in India
D. Participants in Commodity Derivatives Markets
E. Commodities Trading vis-à-vis Trading in Other Financial Assets
F. Commodity Markets Ecosystem
G. Factors Impacting the Commodity Prices
H. Commodity Options and Index Futures
II. Commodity Futures
A. Introduction to Futures
B. Distinction between Forwards and Futures
C. Cost-of-Carry
D. Convergence
E. Fair Value of a Futures Contract
F. Convenience Yield
G. Commodity Futures and Commodity Forwards
H. Pay-off Profile for Futures Contracts
I. Spot Price Polling and Final Settlement Price of Futures
III. Commodity Options
A. Introduction to Options
B. Option Terminology
C. Pay-off Profiles of Options Contracts
D. Determinants of Option Premium
E. Options on Commodity Futures
F. Options on Goods
IV. Commodity Indices
A. Commodity Index
B. Index Construction and its Constituents
C. Trading in Index Futures
D. Uses of Index Futures
V. Uses of Commodity Derivatives
A. Hedging
B. Long Hedge and Short Hedge Strategies Using Futures
C. Speculation
D. Arbitrage
E. Spread Trading
F. Basis
G. Option Trading Strategies
H. Hedging Strategies Disclosure Norms
VI. Trading Mechanism
A. Membership on Exchanges Having Commodity Derivatives Segment
B. Trading System in the Exchanges
C. Selection Criteria of Commodities for Trading on Derivatives Exchanges
D. Contract Specifications for Commodity Derivatives Contracts
E. Profit/Loss per Contract for a Change of One Tick
F. Order Types and Conditions
G. Tracking Commodity Futures and Options Prices
H. Participants in Commodity Derivatives
I. Disclosures by Exchanges
VII.Clearing Settlement and Risk Management of Commodity Derivatives
A. Clearing Corporation
B. Clearing and Settlement
C. Delivery Process
D. Entities Involved in the Clearing and Settlement Process
E. Premium/Discount
F. Penalty for Delivery Default
G. Deliveries in the Case of Physical Delivery
H. Risk Management for Exchange Traded Commodity Derivatives Markets
I. Position Limits and Computation of Open Position
J. Salient Features of Risk Containment Measures
K. Margining Mechanism
L. Additional Procedures for Other Market Segments
M. Raising of Bill for Delivery
VIII.Accounting and Taxation
A. Important Accounting Aspects related to Trading in Commodity Derivatives
B. Guidance Note Issued by ICAI on Accounting Treatment of Derivative Transactions
C. Accounting of Options Contracts
D. Important Tax Aspects Related to Trading in Commodity Derivatives
IX. Legal & Regulatory Environment of Commodity Derivatives
A. Regulatory Structure of Commodities Market
B. Securities Contracts (Regulation) Act, 1956
C. Securities and Exchange Board of India Act, 1992
D. Other Regulatory Norms to Encourage Commodity Derivatives
E. SEBI’s Code of Conduct for Brokers
F. Risk Disclosure to Client and KYC
G. Investors Grievance Redressal Mechanism
H. Rights and Obligations of Members and Clients
I. Additional Do’s and Don’ts for Clients / Investors in Commodity Derivatives
Along with the syllabus, it is important that candidates are well versed with the NISM Certification exam pattern too. The exam pattern of NISM certification gives candidates a detailed idea of how the exam will be conducted. The NISM certification exam pattern has been given below
|
Particulars |
Details |
|
Total number of questions |
100 |
|
Marks for correct response |
1 mark |
|
Maximum number of marks |
100 |
|
Passing marks |
50% |
|
Negative marking |
No |
The admit card of NISM certification is issued immediately after the enrollment process is completed. Candidates can download their NISM admit card from the official portal. Candidates are advised to take a printout of the NISM admit card for use in future. Applicants must note that the admit card of NISM is a mandatory document that must be carried on the day of the exam to get entry inside the exam hall.
Candidates who appeared for the exam and scored passing marks will be issued their NISM certificate in due course of time. Candidates who submitted their Income Tax Permanent Account Number (PAN) as their identity document will be issued their NISM certificate tentatively two weeks after the date of exam. The result of NISM exams can be checked by calling NISM Helpdesk at 8080806476 or mailing to cpe@nism.ac.in.