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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.
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.
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Series-I Certification Examination for Currency Derivatives
Syllabus Outline
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
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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
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
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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
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Series-VB Certification Examination for Mutual Fund Foundation
Syllabus Outline
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
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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
Syllabus Outline
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Series-VIII Certification Examination for Equity Derivatives
Syllabus Outline
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
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Series X-A Certification Examination for Investment Adviser
(Level 1)
Syllabus Outline
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
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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
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
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Series XIII Certification Examination for Common Derivatives
Syllabus Outline
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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
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
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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
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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
Mutual Fund Foundation 250 Internal Auditors for Stock Brokers 250
Name.........................................................................................................................................................................................
Name of Firm/Organisation........................................................................................................................................................
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