The examination seeks to create a common
minimum knowledge benchmark for all associated persons registered as an
investment adviser and partners and representatives of investment advisers
under SEBI (Investment Advisers) Regulations, 2013 and offering investment
advisory services.
NISM-Series-X-A: Investment Adviser (Level 1)
Certification Examination is the level 1 examination.
An associated person shall be required to pass
both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1)
Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2)
Certification Examination) to fulfill the requirements under Regulation 7(2) of
the SEBI (Investment Advisers) Regulations, 2013.
The certification aims to enhance the quality
of investment advisory and related services in the financial services industry.
Examination Objectives:
On successful completion of the examination,
the candidate should:
·
Know the basics of
investment advisory, steps in the advisory process, making and implementation
of financial plan.
·
Understand how to
evaluate different products, their suitability and how the recommendation of
the same can impact investment risks, returns and strategies in a personal
finance environment for investors and prospective investors in the market.
·
Get oriented to the
Income tax, Wealth tax and legalities of Estate planning in personal finance,
and regulatory aspects underlying advisory.
·
Get acquainted with
financial planning as an approach to investing, insurance, retirement planning
and an aid for advisers 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 60%. There shall be negative marking of 25% of the marks
assigned to a question for each wrong answer.
Test Details
Name of Module: NISM-Series-X-A: Investment
Adviser (Level 1) Certification Examination
Fees (Rs.)
|
Test Duration (in minutes)
|
No. of Questions
|
Maximum Marks
|
Pass Marks* (%)
|
Certificate Validity#
(in years)
|
1500+
|
120
|
100
|
100
|
60
|
3
|
*: Negative marking - 25% of the marks
assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have
furnished/ updated their Income Tax Permanent Account Number (PAN) in their
registration details.
NISM-Series-X-B: Investment Adviser (Level 2)
Certification Examination along with the NISM-Series-X-A: Investment Adviser
(Level 1) Certification Examination seeks to create a common minimum knowledge
benchmark for all associated persons registered as an investment adviser and
partners and representatives of investment advisers under SEBI (Investment
Advisers) Regulations, 2013 and offering investment advisory services.
An associated person shall be required to pass
both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1)
Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2)
Certification Examination) to fulfill the requirements under Regulation 7(2) of
the SEBI (Investment Advisers) Regulations, 2013.
The certification aims to enhance the quality
of investment advisory and related services in the financial services industry.
Examination Objectives
On successful completion of the examination,
the candidate should:
·
Know the comprehensive
financial planning in the context of households to apply the planning elements
learnt in Level 1 Certification Examination.
·
Understand the
structure and performance of securities markets; importance of asset allocation
and impact of the market movement on the assets performance.
·
Know the practical
aspect of product selection, portfolio construction, review and re-balancing based on clients need.
·
Know the compliance,
operations and service elements in investment advice.
Assessment Structure
The examination consists of 8 case-lets with 4
multiple choice questions of 2 marks each per case-lets and 36 multiple choice
questions of 1 mark each adding up to 100 marks. The examination 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 marks.
Test Details
Name of Module: NISM-Series-X-B: Investment
Adviser (Level 2) Certification Examination
Fees
(Rs.)
|
Test
Duration (in minutes)
|
No.
of Questions
|
Maximum
Marks
|
Pass
Marks* (%)
|
Certificate
Validity#
(in
years)
|
1500+
|
120
|
68~
|
100
|
60
|
3
|
~ 36 multiple choice questions of 1 mark each and 8 case-lets with 4 multiple choice questions of 2 marks each (Total 68 questions adding up
to 100 marks).
*: Negative marking - 25% of the marks
assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
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