About NISM-Series-I: Currency Derivatives Certification Examination
(NISM-Series-I: CD Examination)
Revised Examination available from February 21, 2012. Please check Test Objectives for Revisions.

OBJECTIVES OF TEST : The examination seeks to create a common minimum knowledge benchmark for persons working in the Currency Derivatives market segment, in order to enable a better understanding of currency markets and exchange traded currency derivatives products, better quality investor service, operational process efficiency and risk controls. more>>

ASSESSMENT STRUCTURE : The NISM-Series-I: CD Examination is for 100 marks, consisting of 100 questions of 1 mark each, and should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.

About NISM-Series-II-A: Registrars and Transfer Agents (Corporate) Certification Examination - (NISM-Series-II-A: RTA (Corp) Examination)

The examination seeks to create a common minimum knowledge benchmark for persons working in Registrars to an Issue and Share Transfer Agents (R&T Agent) organizations in the corporate R&T function, in order to enable better quality investor service, operational process efficiency and risk controls. more>>

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of securities and securities markets
• Understand broadly the role and functions of the R&T Agents in the corporate securities issuance and transaction process.
• Know the regulatory environment in which the R&T Agents operate in India.

ASSESSMENT STRUCTURE : The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score on the examination is 50%.

About NISM-Series-II-B: Registrars and Transfer Agents (Mutual Fund) Certification Examination - (NISM-Series-II-B: RTA (MF) Examination)

The examination seeks to create a common minimum knowledge benchmark for persons working in Registrars to an Issue and Share Transfer Agents (R&T Agent) organizations in the mutual fund R&T function, in order to enable better quality investor service, operational process efficiency and risk controls. more>>

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of securities and securities markets
• Understand broadly the role and functions of the R&T Agents in the mutual fund issuance and transaction process.
• Know the regulatory environment in which the R&T Agents operate in India.

ASSESSMENT STRUCTURE : The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score on the examination is 50%.

About NISM-Series-IV: Interest Rate Derivatives Certification Examination

The examination seeks to create a common minimum knowledge benchmark for persons working in the Interest Rate Derivatives market segment, in order to enable a better understanding of fixed income securities markets and exchange traded interest rate derivative products, regulations and risks associated with the products and the exchange mechanisms of clearing and settlement. more>>

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of fixed income securities markets and specifically interest rate derivative markets in India and other markets.
• Understand the analytical framework required for Bond Futures market in India along with trading and hedging strategies involved.
• Understand the clearing, settlement and risk management as well as the operational mechanism related to exchange traded interest rate derivatives.
• Know the regulatory environment in which the interest rate derivatives markets operate in India.

ASSESSMENT STRUCTURE : The NISM Series IV: Interest Rate Derivatives Examination will be of 100 marks, will have 100 questions, and should be completed in 2 hours. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.

About NISM-Series-V-A: Mutual Fund Distributors Certification Examination

The examination seeks to create a common minimum knowledge benchmark for all persons involved in selling and distributing mutual funds including: more>>

• Individual Mutual Fund Distributors
• Employees of organizations engaged in sales and distribution of Mutual Funds
• Employees of Asset Management Companies specially persons engaged in sales and distribution of Mutual Funds

The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of mutual funds, their role and structure, different kinds of mutual fund schemes and their features
• Understand how mutual funds are distributed in the market-place, how schemes are to be evaluated, and how suitable products and services can be recommended to investors and prospective investors in the market.
• Get oriented to the legalities, accounting, valuation and taxation aspects underlying mutual funds and their distribution.
• Get acquainted with financial planning as an approach to investing in mutual funds, as an aid for mutual fund distributors to develop long term relationships with their clients.

ASSESSMENT STRUCTURE : The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be negative marking of 25% of the marks assigned to a question.

About NISM-Series-VII: Securities Operations and Risk Management Certification Examination

The examination seeks to create a common minimum knowledge benchmark as the requisite standard for associated persons of a registered stock-broker / trading member / clearing member in recognized stock exchanges, involved in (a) assets or funds of investor or clients (b) redressal of investor grievances, (c) internal control or risk management and (d) activities having a bearing on operational risk. more>>

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of the Indian securities market, the different products traded and the various market participants and the respective roles they play in the Indian securities market.
• Understand the regulatory framework and the role of the Securities Exchange Board of India.
• Know the various functions of the Front Office, Middle Office and Back Office in a Securities Broking Firm.
• Understand the trade life cycle, the steps and participants involved in the trade life cycle and the role of the back office in a securities broking firm.
• Understand how the risks are managed in a securities broking firm, the clearing and settlement process.

ASSESSMENT STRUCTURE : The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be negative marking of 25% of the marks assigned to a question.

About NISM-Series-VI: Depository Operations Certification Examination
Revised Examination available from February 16, 2012.Please check Corrigendum for Revisions.

The examination seeks to create a common minimum knowledge benchmark for associated persons engaged or employed by a registered depository participant in: (a) dealing or interacting with clients; (b) dealing with securities of clients; (c) handling redressal of investor grievances; (d) internal control or risk management; (e) activities having a bearing on operational risk; or (f) maintenance of books and records pertaining to the above activities The certification aims to enhance the quality of services as rendered by the Depository Participants. more>>

OBJECTIVES OF TEST : On successful completion of the examination the candidate should:

• Know the basics of the Indian securities market and the depository system, the need for depository and the key features of the depository system in India.
• Understand the institutional structure of the depository system in India and the business partners of a depository.
• Understand the regulatory framework in which the depositories and its DPs function, their eligibility criteria, registration procedure, rights and obligations etc.
• Know the various functions of the Depository and its Depository Participants (DPs) such as dematerialisation, trading and settlement, pledging and hypothecation.
• Understand how a demat account is opened, documents required to open an account and significance of Power of Attorney (POA).

ASSESSMENT STRUCTURE : The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be negative marking of 25% of the marks assigned to a question.