NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination

NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination.

Launch of NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination w.e.f. February 10, 2026.

This examination seeks to create a common minimum knowledge benchmark for the persons associated with research services, defined under Regulation 2(ne) of the SEBI (Research Analysts) Regulations, 2014. The Examination only caters to Persons Associated with Research Services who perform sales and other non-core services.

Examination Objectives:

On successful completion of the examination, the candidate should:

• Know the regulatory framework governing research services under the SEBI (Research Analysts) Regulations, 2014;
• Understand the ethical standards, compliance requirements, and conduct obligations applicable to research services;
• Understand the roles, responsibilities, and permitted activities of Persons Associated with Research Services, particularly in sales and other non-core functions;
• Know the importance of regulatory compliance, investor protection, and confidentiality in research-related activities.

 
Assessment Structure

After completion of the course content within 5 days, it is mandatory to complete an assessment test of 50 multiple-choice questions of 1 mark each, total of 50 marks. The examination should be completed in 1 hour. There is no negative marking. The passing score for the examination is 50 per cent.

Test Details

Name of Module: NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination.

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~ 50 multiple-choice questions of 1 mark each.

* No negative marking.

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