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ABOUT NISM

N ational Institute of Securities Markets (NISM) was established by the Securities and Exchange Board of India (SEBI), in
pursuance of the announcement made by the Finance Minister in his Budget Speech in February 2005.
SEBI, by establishing NISM, articulated the desire expressed by the Government of India to promote securities market
education and research.
Towards accomplishing the desire of Government of India and vision of SEBI, NISM delivers financial and securities educa-
tion at various levels and across various segments in India and abroad. To implement its objectives, NISM has established
six distinct schools to cater to the educational needs of various constituencies such as investors, issuers, intermediaries,
regulatory staff, policy makers, academia and future professionals of securities markets.
NISM is mandated to implement Certification Examinations for professionals employed in various segments of the Indian
securities markets.
NISM also conducts numerous training programs and brings out various publications on securities markets with a view to
enhance knowledge levels of participants in the securities industry.

Taxmann is a growth-driven publishing house with its independent marketing network. We have an impressive tally of titles
on Tax, Corporate and Commercial Laws. Professionals and Corporates look up to Taxmann to provide them with high-quali-
ty books on Direct Tax Laws, Indirect Tax Laws, Company Law and all Allied Laws. Taxmann’s credentials are well established:
its experience in the industry, editorial expertise and market network, strike a combination that delivers the best.
Taxmann has highly qualified technical personnel with in-depth knowledge of all aspects of management for running a
successful commercial enterprise.
The motto is “Spearheading the pursuit of expertise and authenticity.” ‘Accuracy and professional expertise’ are not only a
passion for us but also an obsession.

ABOUT NISM CERTIFICATIONS

T he School for Certification of Intermediaries (SCI) at NISM is engaged in developing and administering Certification
Examinations and CPE Programs for professionals employed in various segments of the Indian securities markets.
These Certifications and CPE Programs are being developed and administered by NISM as mandated under Securities and
Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007.
The skills, expertise and ethics of professionals in the securities markets are crucial in providing effective intermediation to
investors and in increasing the investor confidence in market systems and processes. The School for Certification of Inter-
mediaries (SCI) seeks to ensure that market intermediaries meet defined minimum common benchmark of required func-
tional knowledge through Certification Examinations and Continuing Professional Education Programmes on Mutual Funds,
Equities, Derivatives Securities Operations, Compliance, Research Analysis, Investment Advice and many more. Certification
creates quality market professionals and catalyzes greater investor participation in the markets. Certification also provides
structured career paths to students and job aspirants in the securities markets.

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Details About NISM Certification Examinations
Pass Negative
Sr.  Test Fees Maximum
NISM Certification Examination Mark Marking
No Duration (Rs)# Marks
(%) (%)
NISM Series I: Currency Derivatives Certification
1 2hrs 1500 100 60 25
Examination
NISM Series II A: Registrars and Transfer Agents
2 2hrs 1500 100 50 25
(Corporate) Certification Examination
NISM Series II B: Registrars and Transfer Agents (Mutual
3 2hrs 1500 100 50 25
Fund) Certification Examination
NISM Series III A: Securities Intermediaries Compliance
4 2hrs 1500 100 60 25
(Non-Fund) Certification Examination
NISM Series III B: Issuers Compliance Certification
5 2hrs 1500* 100 60 25
Examination
NISM Series IV: Interest Rates Derivatives Certification
6 2hrs 1500 100 60 25
Examination
NISM Series V A: Mutual Fund Distributors Certification
7 2hrs 1500 100 50 NA
Examination
NISM-Series V B: Mutual Fund Foundation Certification
8 2hrs 1200 50 50 NA
Examination
NISM-Series-V C: Mutual Fund Distributors (Level 2)
9 2hrs 1500* 100 60 25
Certification Examination
NISM Series VI: Depository Operations Certification
10 2hrs 1500 100 60 25
Examination
NISM Series VII: Securities Operations and Risk
11 2hrs 1500 100 50 25
Management Certification Examination
NISM Series VIII: Equity Derivatives Certification
12 2hrs 1500 100 60 25
Examination
NISM Series IX: Merchant Banking Certification
13 2hrs 1500 100 60 25
Examination
NISM Series X A: Investment Adviser (Level 1)
14 2hrs 1500 100 60 25
Certification Examination
NISM Series X B: Investment Adviser (Level 2)
15 2hrs 1500 100 60 25
Certification Examination
16 NISM Series XI: Equity Sales Certification Examination 2hrs 1500* 100 50 25
NISM Series XII: Securities Markets Foundation
17 2hrs 1500* 100 60 NA
Certification Examination
NISM Series XIII: Common Derivatives Certification
18 3hrs 3000 150 60 25
Examination 
NISM Series XIV: Internal Auditors for Stock Brokers
19 2hrs 1500* 100 60 25
Certification Examination 
NISM Series XV: Research Analyst Certification
20 2hrs 1500 100 60 25
Examination 
NISM series XVII : Retirement Adviser Certification
21 2hrs 1500 100 60 25
examination
#Fees is subject to revision. *Indicates non-mandated examination. Service tax is applicable on the examination fees.

How to Register and take the Examination


To find out more and register for the examination please visit www.nism.ac.in

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Series-I Certification Examination for Currency Derivatives

Syllabus Outline

u Introduction to Currency u Clearing, Settlement and


Markets Risk Management in Cur-
u Foreign Exchange Deriva-
rency Futures
tives u Exchange Traded Curren-
u Exchange Traded Curren-
cy Options
cy Futures u Accounting and Taxation
u Strategies Using Currency u Regulatory Framework
Futures for Currency Derivatives
u Trading in Currency Fu- u Codes of Conduct and
tures Investor protection Mea-
sures

PRICE : ` 250 eDITION : 2016 pAGES : 168 ISBN : 9789350718810

Series-IIA Certification Examination for Registrars to an Issue and


Share Transfer Agents - Corporate

Syllabus Outline
u Introduction to Securities u Public Offer of Securities -
u Characteristics of Equities Processes
u Characteristics of Other u Roles and Responsibilities
Securities in a Public Issue
u Characteristics of Debt u Depository Services
Instruments u Process related to Depo-
u Basics of Mutual Funds sitories
u SEBI’s Role and Relevant u Investor Servicing Pro-
Regulations cesses
u Public Offer of Securities - u Role of stock exchanges
Features and other participants in
u Private Placement of the secondary market
Shares

PRICE : ` 250 eDITION : 2015 pAGES : 144 ISBN : 9789350717622

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Series-IIB Certification Examination for Registrars to an Issue and
Share Transfer Agents - Mutual Fund

Syllabus Outline
u Introduction to Securities u Structure and constitu-
u Characteristics of Equities
ents of Mutual Funds
u Mutual fund products
u Characteristics of Other
Securities u Applicable NAV and cut-
u Characteristics of Debt
off time
Instruments u Purchase, redemption and
u Basics of Mutual Funds
systematic transactions
u Investor and distributor
u SEBI’s Role and Relevant
Regulations processes and payouts

PRICE : ` 250 eDITION : 2016 pAGES : 178

Series-IIIA Certification Examination for Securities Intermediaries


Compliance (Non-Fund)

Syllabus Outline
Part A: Understanding the Financial and Regulatory
Structure in India
u Introduction to Financial u SEBI (Prohibition of Insider
System Trading) Regulations, 1992
u Regulatory Framework: u SEBI (Fraudulent and Un-
General View fair Trade Practices Relat-
u Introduction to Compli-
ing to Securities Markets)
ance Regulations, 2003
u The Prevention of Money
u SEBI Act, 1992
Laundering Act, 2002
u Securities Contracts (Regu-
lation) Act, 1956 and u SEBI (KYC Registration
Securities Contracts Agency) Regulations, 2011
(Regulation) Rules, 1957
u SEBI (Intermediaries) Regu-
lations, 2008

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Part B: Understanding Intermediary Specific Regulations
u SEBI (Stock Brokers and u SEBI (Depositories and
Sub-Brokers) Regulations, Participants) Regulations,
1992 1996
u SEBI (Merchant Bankers) u SEBI (Bankers to an Issue)
Regulations, 1992, Listing Regulations, 1994
Agreement & SEBI (Delis- u SEBI (Underwriters) Regu-
ting of Securities) Guide- lations, 1993
lines, 2003, SEBI Takeover
Code & SEBI (Buyback of u SEBI (Debenture Trus-
Securities) Regulations, tees) Regulations, 1993
2006 u SEBI (Credit Rating Agen-
u SEBI (Issue of Capital and cies) Regulations, 1999
Disclosure Requirements) u SEBI (Custodian of Securi-
Regulations, 2009 ties) Regulations, 1996
u Depositories Act, 1996
PRICE : ` 250 eDITION : 2015 pAGES : 288 ISBN : 9789350717547

Series-IIIB Certification Examination for Issuers Compliance


Syllabus Outline
u Introduction to Indian u Role of Compliance Offi-
Capital Market cer in other public Issues
u Capital Market Regula- u Raising money from for-
tions eign market
u Compliance Officer u Corporate Actions
u Raising Capital from the u Ongoing Compliance
market Requirements
u Role of Compliance Offi-
cer in IPO
PRICE : ` 250 eDITION : 2016 pAGES : 248 ISBN : 9789350719114

Series-IV Certification Examination for Interest Rate Derivatives


Syllabus Outline
u Fixed-income and Debt u Contract Specification for
Securities – Introduction Interest Rate Derivatives
u Interest Rate – Introduc- u Trading, Clearing, Settle-
tion ment and Risk Manage-
u Return and Risk Measures
ment
for Debt Securities u Regulations and Compli-
u Interest Rate Derivatives
ance
u Trading and Hedging

PRICE : ` 250 eDITION : 2015 pAGES : 136 ISBN : 9789350717790

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Series-VA Certification Examination for Mutual Fund Distributors

Syllabus Outline
u Concept and role of a mu- u Return, risk & perfor-
tual fund mance of funds
u Fund structure and con- u Scheme selection
stituents u Selecting the right invest-
u Legal and regulatory envi- ment products for inves-
ronment tors
u Offer document u Helping investors with
u Fund distribution and chan- financial planning
nel management practices u Recommending model
u Accounting, valuation and portfolios and financial
taxation plans
u Investor services

PRICE : ` 250 eDITION : 2015 pAGES : 268 ISBN : 9789350718308

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PRICE : ` 250 eDITION : 2016 pAGES : 272 ISBN : 9789350719985

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Series-VB Certification Examination for Mutual Fund Foundation

Syllabus Outline

u Concept and Role of a u Investor Transactions


Mutual Fund u Investor Services
u Fund Structure and u Asset Classes
Constituents
u Financial Planning Con-
u Mutual Fund Products cepts
u Performance of Mutual u Helping Investors with
Funds Financial Planning
u Mutual Fund Taxation u Legal and Regulatory
u Offer Document Environment
u Fund Distribution and
Sales Practices

PRICE : ` 250 Edition 2016 pAGES : 166

Series-VC Certification Examination for Mutual Fund Distributors


(Level 2)

Syllabus Outline
u Mutual Fund Structures u Taxation
u Legal and Regulatory u Investor Services
Environment of Mutual u Scheme Evaluation
Funds
u Asset Classes and Alter-
u Fund Distribution and nate Investment Products
Sales Practices
u Cases in Financial Plan-
u Investment and Risk Man- ning
agement
u Ethics and Investor Pro-
u Valuation of Schemes tection
u Accounting

PRICE : ` 250 eDITION : 2015 pAGES : 164 ISBN : 9789350717936

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Series-VI Certification Examination for Depository Operations

Syllabus Outline
u Introduction to Securities u Functions of DP - Corpo-
Market rate Action
u Introduction to Depository u Functions of DP - Public
u Depository and its busi- Issues
ness Partners u Functions of DP - Debt
u Functions of DP - Account and Government Securi-
Opening ties
u Functions of DP - Trans- u Additional Services - For-
mission & Nomination eign Portfolio Investor
u Functions of DP - Dema- u Additional Services -
terialisation Rajiv Gandhi Equity Sav-
u Functions of DP - Trading
ing Schemes
and Settlement u Additional Services - Basic
u Functions of DP - Pledge
Services Demat Account
and Hypothecation

PRICE : ` 250 eDITION : 2016 pAGES : 220

Series-VII Certification Examination for Securities Operations and


Risk Management

Syllabus Outline

u Introduction to Securities u Clearing Process


Market u Settlement Process
u Market Participants in the u Investor Grievances and
Securities Market Arbitration
u Introduction to Securities u Other Services Provided
Broking Operations by Brokers
u Risk Management

PRICE : ` 250 eDITION : 2016 pAGES : 168

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Series-VIII Certification Examination for Equity Derivatives

Syllabus Outline

u Basics of Derivatives u Introduction to Clearing


u Understanding Index
and Settlement System
u Legal and Regulatory
u Introduction to Forwards
and Futures Environment
u Accounting and Taxation
u Introduction to Options
u Sales Practices and Inves-
u Option Trading Strategies
tors Protection Services
u Introduction to Trading
Systems

PRICE : ` 250 eDITION : 2015 pAGES : 204 ISBN : 9789350717776

Series-IX Certification Examination for Merchant Banking

Syllabus Outline
u Introduction to the Capi- u Issue Management –
tal Market General Obligations of
u Introduction to the Mer- Merchant Bankers and
chant Banking Due Diligence
u Registration, Code of u Other Merchant Banking
Conduct & General Activities - Mergers, Ac-
Obligations of Merchant quisitions & Takeovers
Bankers in India u Other Merchant Banking
u Issue Management – Activities - Disinvestment,
Important Terms Buyback of Equity Shares
u Issue Management – Pro-
cess and Underwriting

PRICE : ` 250 eDITION : 2015 pAGES : 208 ISBN : 9789350717639

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Series X-A Certification Examination for Investment Adviser
(Level 1)

Syllabus Outline

u Introduction to Indian u Concept of Financial Plan-


Financial Market ning
u Securities Market Seg- u Asset Allocation and
ments Investment Strategies
u Mutual Funds u Insurance Planning
u Investment Products u Retirement Planning
u Managing Investment u Tax and Estate Planning
Risk u Regulatory Environment
u Measuring Investment and Ethical Issues
Returns

PRICE : ` 250 eDITION : 2016 pAGES : 344 ISBN : 9789350718438

Series X-B Certification Examination for Investment Adviser


(Level 2)

Syllabus Outline
u Understanding securities u Product analysis and se-
markets and performance lection
u Knowing operational as- u Regulatory and compli-
pects of financial transac- ance aspects
tions u Case studies in compre-
u Personal financial plan- hensive financial advice
ning
u Comprehensive financial
planning

PRICE : ` 250 eDITION : 2016 pAGES : 296 ISBN : 9789350719107

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Series XI Certification Examination for Equity Sales

Syllabus Outline
u Overview of Indian Secu- u Trading and Risk Manage-
rities Markets ment
u Regulatory Framework u Clearing and Settlement
u Primary Markets u Market Surveillance
u Secondary Markets u Client Management
u Understanding Market
Indicators

PRICE : ` 250 eDITION : 2015 pAGES : 172 ISBN : 9789350717783

Series XII Certification Examination for


Securities Markets Foundation

Syllabus Outline
u Introduction to Indian u Secondary Markets
Securities Markets u Mutual Funds
u Securities: Types, Features u Derivatives Markets
and Concepts
u Financial Planning and
u Primary Markets Securities Markets

PRICE : ` 250 eDITION : 2015 pAGES : 216 ISBN : 9789350717660

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Series XIII Certification Examination for Common Derivatives

Syllabus Outline

u Basics of Derivatives u Introduction to Trading,


u Introduction to the Under- Clearing, Settlement &
lying Markets Risk Management
u Introduction to Forwards u Legal and Regulatory
and Futures Environment
u Strategies Using Futures u Accounting and Taxation

u Introduction to Options u Sales Practices, Code of


Conduct and Investor
u Option Trading Strategies
Protection Measures

1. PRICE : ` 250 eDITION : 2015 pAGES : 136 ISBN : 9789350717790


2. PRICE : ` 250 eDITION : 2015 pAGES : 204 ISBN : 9789350717776
3. PRICE : ` 250 eDITION : 2016 pAGES : 168 isbn : 9789350718810

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Series XIV Certification Examination for Internal Auditors for
Stock Brokers

Syllabus Outline
Part A: Regulatory Framework
u Introduction to Internal u SEBI (Fraudulent and
Audit Unfair Trade Practices)
u Understand the Financial
Regulations
System and the regulatory u PMLA 2002
framework u SEBI Stock Brokers and
u SEBI Act, SCRA and SCRR Sub-Brokers Regulations
u SEBI Insider Trading Regu-
lations

Part B: Operations
u Introduction to Stock u Clearing and Settlement
Broking Operations Process
u Risk Management u Investor Grievance Re-
dressal

PRICE : ` 250 eDITION : 2016 pAGES : 280 ISBN : 9789350718940

Series XV Certification Examination for Research Analyst

Syllabus Outline
u Introduction to Research u Company Analysis –
Analyst Profession Quantitative Dimensions
u Introduction to Securities u Corporate Actions
Market u Valuation Principles
u Terminology in Equity and u Fundamentals of Risk and
Debt Markets Return
u Fundamentals of Research u Qualities of a good
u Economic Analysis Research Report
u Industry Analysis u Legal and Regulatory
u Company Analysis - Quali-
Environment
tative Dimensions

PRICE : ` 250 eDITION : 2016 pAGES : 232 ISBN : 9789350718940

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Series XVII Certification Examination for Retirement Adviser

Syllabus Outline
u Fundamental Concepts in u Other Investment Prod-
Retirement Planning ucts
u Financial markets and u Retirement Planning
investment products Strategies
u Retirement Planning u Special Situations in
u Retirement Planning
Retirement
Products : National Pen- u Regulations and Regula-
sion System tors
u Evaluating fund perfor-
mance and fund selec-
tion

PRICE : ` 250 eDITION : 2016 pAGES : 316 ISBN : 9789386189264

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ORDER FORM
Books Price : ` Books Price : `
Currency Derivatives 250 Securities Operations and Risk Management 250

Registrars to an Issue and Share Transfer Agents - 250 Equity Derivatives 250
Corporate
Merchant Banking 250
Registrars to an Issue and Share Transfer Agents 250
- Mutual Fund Investment Adviser (Level 1) 250

Securities Intermediaries Compliance (Non-Fund) 250 Investment Adviser (Level 2) 250

Equity Sales 250


Issuers Compliance 250
Securities Markets Foundation 250
Interest Rate Derivatives 250
Common Derivatives 250
Mutual Fund Distributors 250 each
  Interest Rate       Equity Derivatives
E;wpqvy QaM fMLVªhC;wVj 250  Currency Derivatives

Mutual Fund Foundation 250 Internal Auditors for Stock Brokers 250

Mutual Fund Distributors (Level 2) 250 Research Analyst 250

Depository Operations 250 Retirement Adviser 250

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