The examination seeks to create a common minimum knowledge benchmark for associated persons engaged or employed by a registered depository participant in (a) dealing or interacting with clients, (b) dealing with securities of clients, (c) handling redressal of investor grievances, (d) internal control or risk management, (e) activities having a bearing on operational risk, or (f) maintenance of books and records pertaining to the above activities.

The certification aims to enhance the quality of services as rendered by the Depository Participants. 

Examination Objectives

On successful completion of the examination the candidate should:

• Know the basics of the Indian securities market and the depository system, the need for depository and the key features of the depository system in India.
• Understand the institutional structure of the depository system in India and the business partners of a depository.
• Understand the regulatory framework in which the depositories and its DPs function, their eligibility criteria, registration procedure, rights and obligations etc.
• Know the various functions of the Depository and its Depository Participants (DPs) such as dematerialisation, trading and settlement, pledging and hypothecation.
• Understand how a demat account is opened, documents required to open an account and significance of Power of Attorney (POA).

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.

TEST CALENDAR & REGISTRATION

Test Details:

Name of Module: NISM-Series-VI: Depository Operations Certification Examination

* Negative marking – 25% of the marks assigned to the question.

# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.