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.

Deliverables and Examination Structure

1. The certification examination content is available in e-learning (video-based) mode.
2. After completion of the course content within 5 days, it is mandatory to complete an assessment test of 50 marks with 50 multiple-choice questions (MCQs), where each question carries 1 mark.
3. The examination will be an internet-based exam, for 60 minutes and will be conducted in a remotely proctored environment, unlike the Test Centre based examinations.
4. The Passing criteria of the exam is 50% (i.e., 25 marks).
5. There is No negative marking.
6. All candidates will be issued a Certificate upon clearing the Assessment Test which will be valid for a period of 3 years. The same shall be renewed before expiry of the existing certificate by reappearing for the exam.

Test Details

Please refer to the “Curriculum” for further details regarding the NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination.

Please refer to the “Frequently Asked Questions” for further details regarding the NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination.

For any assistance/clarification, please contact NISM’s Certification Helpdesk at certification@nism.ac.in or at 8080806476.

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

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