What is NISM?
Those of you who are hearing the acronym for the first time, NISM, stands for National Institute of Securities Market, an educational institute set up by SEBI to promote knowledge & research in the field of securities market. The institute was set up after receiving permission from Mr. P .Chidambaram, the then finance minister of the country.
Why is it so important to pursue the certifications?
Securities market, within itself is quite vast & you’ll find different professionals, from different backgrounds, offering advice on a particular stock/mutual fund/commodity etc. The differing qualifications, knowledge, experience etc leads to chaos amongst various participants, including the investors. In order to make a common minimum benchmark of knowledge, SEBI has mandated individuals associated with the securities market, in various capacities, to take up certain certifications offered by NISM.
What are the various certifications offered by NISM?
NISM currently offers 20 certifications, 2 post graduate full time programs (Post Graduate Diploma in Quantitative Finance & Post Graduate Program in Securities Market) & 4 part time programs (Certificate in Securities Law, Certificate in Treasury Management, Post Graduate Program in Financial Engineering & Risk Management and Post Graduate Certificate in Data Science).
What is the paper pattern & where are the exams held?
The examinations (20 certifications) are conducted across India at NISM’s registered test centres & are conducted in a MCQ (Multiple Choice Question) format. The paper pattern (marks, time duration, whether negative markings are present or not etc) differs from certification to certification.
Where will I get the study materials?
The best part of registering for the exams is that, NISM sends across the updated study material to an aspirant, one he/she registers for the exam(s), after paying the requisite fees.
When do I register for the exams?
It is always advisable to book the exam dates as early as possible because:-
1) Students find it difficult to register for the exams, if they try to book the seats a week in advance &
2) Once you book the seat, there is an automatic pressure on you to start studying for the exams. Psychologically the pressure pushes you to study.
Are there any training institutes offering training for the certifications?
It all depends upon the certification that you wish to appear for! Most institutes would offer training on those certifications which are quite popular (e.g. NISM Series VA – Mutual Fund Distributors certification, NISM Series VIII – Equity Derivatives Certification etc) as they would have a batch ready. Do make sure that you ask for the duration of the training, flexibility of attending the lectures, study materials, passing ratio, option of attending the training again, if you weren’t able to clear the exams etc. However, most individuals prefer to “self-study” for the exams, citing limited options of training institutes.
Are there any practice tests available online?
Yes, there are quite a few NISM practice tests available online & some are offered as low as Rs. 499/- However, before you decide to purchase any of the tests, make sure that, the content for the test is recently updated & it matches the parameters laid down by NISM to test the knowledge of the aspirant on the particular subject matter.
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