NISM Certification

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.


NISM Certification - Highlights

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


NISM Certification - Important Dates

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


NISM Certification Eligibility Criteria


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


NISM Certification Registration

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.


NISM Certification Syllabus

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


NISM Certification Exam Pattern

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


NISM Admit Card

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.


NISM Certificate

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.