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

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

Session 1: Introduction to Research Analysis Profession and Securities Markets.

• A. Overview of research services.

• B. Definition of research analysts.

• C. Define PARS and explain its role in supporting analysts, including client query handling and data-related assistance.

• D. Overview of the Indian securities market, including equity, debt, derivatives, and market participants.

• E. Key market terminologies and structure, including exchanges and regulators such as SEBI.

• F. Basic PARS communication skills for explaining market overviews to clients

Session 2: Fundamentals of Research, Market Terminologies and Market Analysis.

• A. Overview of data sources and basic tools used for research support.

• B. Key economic indicators—GDP, inflation, and interest rates—and their impact on markets.

• C. Understanding how economic trends influence industry and company performance.

• D. PARS skills for interpreting basic research terminology to support client explanations and prevent miscommunication.

Session 3: Risk and Return Fundamentals.

• A. Concepts of systematic and unsystematic risk, along with return metrics.

• B. Fundamentals of portfolio management and diversification.

• C. PARS skills for interpreting risk disclosures during client discussions and ensuring accurate information communication.

Session 4: Research Reporting, Ethics, and Regulatory Environment.

• A. Key qualities of an effective research report: clarity, objectivity, and compliance with disclosure requirements.

• B. Legal framework, including SEBI (Research Analysts) Regulations and insider trading rules.

• C. Ethical principles: addressing conflicts of interest and ensuring confidentiality in client interactions.

• D. KYC compliance and associated requirements.

• E. PARS skills for ethically managing client complaints and maintaining compliance records.

Session 5: Client Interaction and Relationship Skills.

• A. Communication and presentation skills, including clear verbal and written communication and presenting research summaries to clients.

• B. Negotiation and objection-handling skills, including addressing client concerns and managing information requests without overcommitting.

• C. Relationship management and networking skills, including building long-term client trust and leveraging networks for referrals and insights.

• D. Crisis management skills, including handling urgent client issues and de-escalating conflicts arising from market volatility or research discrepancies.

• E. Behavioral finance and bias recognition, including identifying client biases (e.g., overconfidence, loss aversion) and guiding discussions objectively.

• F. Code of Conduct and Compliance: Understanding RA Regulations, including terms and conditions, MITC, maintenance of required records, and handling investor grievances.

• G. PARS skills: Applying these regulations and practices in daily client interactions to ensure compliance and enhance client satisfaction.

Session 6: Professional Efficiency, Development, and Tools.

• A. Day Planning and Time Management: Prioritize tasks and schedule client calls and research support activities efficiently.

• B. Professional Development and Continuous Learning: Stay updated on market trends, pursue certifications, and conduct self-assessment.

• C. Ethics and Compliance: Reinforce regulatory adherence in tool usage, maintain data privacy, and make ethical decisions in daily operations.

• D. PARS Skills: Integrate tools into workflows to provide efficient client service and support personal career growth.