All 31 NISM Exams
Study guides, weightages, and free practice questions for every NISM certification — Series I through XXV-A plus IFSCA-01.
Currency Derivatives
Exchange-traded currency futures, options, and forex derivatives — pricing, strategies, clearing, and SEBI regulatory framework.
RTA Corporate
Registrars and transfer agents for corporate securities — share transmission, corporate actions, IPO processes, and SEBI LODR.
RTA Mutual Fund
RTAs for mutual fund schemes — investor servicing, transaction processing, NAV calculations, and KYC compliance.
III-A Compliance (Non-Fund)
Compliance officers for non-fund securities intermediaries — SEBI Act, SCRA, insider trading, money laundering, and proxy advisors.
III-C Compliance (Fund)
Compliance officers for fund-side intermediaries — mutual funds, AIFs, REITs/InvITs, FEMA, and depository regulations.
Interest Rate Derivatives
Bond market derivatives — interest rate futures and options, fixed income instruments, hedging strategies, and clearing.
MF Distributors
Most popular NISM exam — for ARN-eligible MF distributors. Covers schemes, taxation, investor services, and SEBI MF regulations.
MF Foundation
Entry-level mutual fund foundation exam — 50-question test for new cadre distributors with no negative marking.
Depository Operations
Depository participant operations — DEMAT account, settlement, pledge & hypothecation, and NSDL/CDSL processes.
SORM (Series VII)
Most-taken exam after V-A — broker back-office, clearing, settlement, margin, and risk management for securities markets.
Equity Derivatives
Equity derivatives certification — futures, options, Greeks, strategies, and regulatory framework for equity F&O.
Merchant Banking
Merchant banker certification — issue management, IPO process, M&A, takeovers, buybacks, delisting, and SEBI ICDR.
Investment Adviser L1
SEBI-RIA Level 1 — financial planning, products, taxation, and regulatory framework for registered investment advisers.
Investment Adviser L2
SEBI-RIA Level 2 — advanced advisory, portfolio construction, alternative investments, equity & debt analysis.
IA Renewal
Renewal exam for SEBI-Registered Investment Advisers covering recent regulatory updates and continuing education.
Securities Markets Foundation
Foundational exam for securities markets understanding — instruments, primary/secondary markets, MF basics, and regulators.
Common Derivatives
Composite derivatives exam combining equity, currency, and interest rate derivatives — for traders covering all asset classes.
Research Analyst
SEBI Research Analyst certification — equity & debt analysis, valuation, fundamental & technical analysis.
Commodity Derivatives
Commodity derivatives certification — agri & non-agri commodities, futures, options, hedging, and warehousing.
Retirement Adviser
PFRDA Retirement Adviser certification — NPS, pension products, retirement planning, and PFRDA regulations.
AIF Distributors I & II
Distributor certification for Category I & II Alternative Investment Funds — venture capital, PE, infrastructure, real estate.
AIF Distributors III
Distributor certification for Category III AIFs — long-short, leverage, derivatives, complex strategies.
AIF Managers (All)
Comprehensive certification for AIF Managers across all categories — fund structuring, governance, valuation, and exits.
AIF Managers I & II
AIF Manager certification for Category I & II funds — venture, PE, debt funds, fund operations and compliance.
AIF Managers III
AIF Manager certification for Category III — hedge fund strategies, leverage, derivatives, and risk frameworks.
PMS Distributors
Portfolio Management Services distributor exam — discretionary & non-discretionary PMS, fees, and SEBI PMS regulations.
Portfolio Managers
Comprehensive PMS Manager certification — equity & debt analysis, portfolio construction, performance, and SEBI compliance.
Social Impact Assessors
Social Stock Exchange (SSE) impact assessor certification — social audits, impact measurement, and SEBI SSE framework.
AML/CFT Provisions
Anti-Money Laundering and Counter-Financing of Terrorism for SEBI-registered intermediaries — PMLA, KYC, and FATF.
Research Services (Sales)
Sales personnel of research analysts and proxy advisors — communication, ethics, and SEBI research analyst regulations.
IFSCA AML/CFT
GIFT City IFSCA exam — AML, CFT, KYC, PMLA, and FATF for entities operating in the International Financial Services Centre.