NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination
The examination seeks to create a common minimum knowledge benchmark for an individual investment adviser or principal officer of a non-individual investment adviser, under SEBI (Investment Advisers) Regulations, 2013 and persons associated with investment advice.
NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is the level 1 examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination is the level 2 examination.
An individual investment adviser or principal officer of a non-individual investment adviser, registered under SEBI (Investment Advisers) Regulations, 2013 and persons associated with investment advice are required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination to fulfill the requirements under SEBI (Investment Advisers) Regulations, 2013.
The certification aims to enhance the quality of investment advisory and related services in the financial services industry.
Examination Objectives:
On successful completion of the Investment Adviser examination, the candidate should:
- Know the basics of personal financial planning, time value of money, evaluating the financial position of clients, debt management and loans.
- Understand about the Indian Financial Markets and Indian Securities market segments
- Get oriented to different kinds of investment products— equity, debt, derivatives and managed portfolios such as mutual funds, portfolio management services and alternative investment funds.
- Know about portfolio construction, performance monitoring and evaluation.
- Understand about operational aspects of investment management, key regulations, ethical issues for investment advisers and grievance redress system.
Assessment Structure
The Investment Adviser certification examination consists of 90 independent multiple-choice questions and 9 caselets/case-based questions and should be completed in 3 hours. The passing score for the examination is 60% which is 90 marks out of total 150 marks. There shall be negative marking of 25% of the marks assigned to a question for each wrong answer.
| Multiple Choice Questions [90 questions of 1 mark each] | 90 marks |
|
9 Case-based Questions [6 caselets (each case with 5 questions of 1 mark each)] [3 caselets (with 5 questions of 2 marks each] |
6*5*1 = 30 marks 3*5*2= 30 marks |
| Total | 150 marks |
Test Details
Name of Module: NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination
*: 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
