The examination seeks to create a common minimum knowledge benchmark for:


The examination aims to enable a better understanding of various derivatives products available in the three derivatives segments (i.e., Equity Derivatives, Currency Derivatives and Interest Rate Derivatives), regulations and risks associated with these products and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the exchange traded derivatives.

Examination Objectives:

On successful completion of the examination the candidate should:


Assessment Structure:

The NISM-Series-XIII: Common Derivatives Certification Examination will be a 150 marks examination to be completed in 3 hours. It will have 150 questions of 1 mark each. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60% which is 90 marks out of total marks of 150.


Test Details:

Name of Examination: NISM-Series-XIII: Common Derivatives Certification Examination

Fees (Rs.)

Test Duration (in minutes)

No. of Questions

Maximum Marks

Pass Marks* (%)

Certificate Validity (in years)#





60% or 90 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.


For more details, please refer to NISM’s Communiqué / Press Release for NISM-Series-XIII: Common Derivatives Certification Examination (NISM/Certification/Series-XIII: COM/2014/01 dated December 9, 2014) available in the “Circulars” section of NISM website.