The examination is created for those candidates who wish to assess their financial literacy and their understanding of various aspects of financial markets including banking, securities, insurance and pension.

It seeks to ensure a basic understanding of the various aspects of an individual’s and/or a household’s financial planning by enhancing their financial literacy. This examination covers key concepts in financial literacy, various investment options, savings and investment products, insurance and pension, retirement planning, stock market, caution against Ponzi schemes, tax savings options, investor protection and investor grievance redressal.

Examination Objectives:

On successful completion of the examination the candidate should:

  • Know the key concepts of one’s financial life
  • Understand the concept of financial planning and the steps involved
  • Understand the importance of saving and budgeting and the power of compounding
  • Familiarize with various investment options and saving and investment products
  • Familiarize with Stock Markets and Mutual Funds
  • Understand the concept and need of Insurance and various types of Insurance
  • Understand the need for retirement planning and salient features of various pension products
  • Be aware about various government schemes available for saving, investment, insurance and pension needs
  • Be aware about Ponzi schemes and financial frauds
  • Know the Investor Grievance Redressal mechanisms developed by the financial sector regulators for investor protection


Assessment Structure:

The NISM-Series-XVIII: Financial Education Certification Examination will be a 50 marks examination to be completed in 2 hours. It will have 50 questions of 1 mark each. There will be no negative marking. The passing score for the examination is 50% (i.e., 25 marks out of total marks of 50).


Test Details:

Name of Module: NISM-Series-XVIII: Financial Education Certification Examination

Fees (Rs.)

Test Duration (in minutes)

No. of Questions

Maximum Marks

Pass Marks* (%)

Certificate Validity (in years)#





50% or 25 marks


+ Inclusive of Service Tax. 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-XVIII: Financial Education Certification Examination (NISM/Certification/FE/2019/1 dated March 27, 2019) available in the “Circulars” section of NISM website.

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