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A career in financial services is a very attractive proposition to any student of finance. However, often the students struggle to find the right kind of job that they are looking for. One challenge that many financial services companies face is unavailability of students who understand practical aspects of the financial services industry.
To ease this situation, the Stock Exchange Board of India (SEBI) set up the National Institute of Securities Markets (NISM) in 2006. National Institute of Securities Markets (NISM) offers a variety of courses for individuals who are looking for a career in the finance industry. The institution provides specialized programmes and creates a new age securities markets professional.
The main aim of the NISM certification exam is to increase the knowledge of professionals, skills and processes. It covers a diverse range of topics like derivatives, Mutual Fund Distribution, Investment advisory, research, taxation, fixed income, compliance, etc.
Here are multiple benefits of having an NISM Certification:
1. Employment Opportunities
There are many companies in the financial services industry that look for qualified professionals with knowledge of the functioning of the financial sector. For example, there are various mutual fund companies or distributors that look for individuals who have cleared NISM Series V A: Mutual Fund Distributors Certification Examination or NISM Series-XV: Research Analyst Certification Examination.
2. Become an Independent Professional / Entrepreneur
With an accredited NISM certification, you can be your own boss. For example, NISM Series V A: Mutual Fund Distributors Certification Examination certificate gives an opportunity to become AMFI registered mutual fund distributor where you can distribute schemes of mutual funds and earn healthy regular income. Since the fee for these certifications is very low, you can start with very low investment and gradually build your business.
3. Improve Knowledge
NISM certification is designed in a way that you gain vast knowledge about the securities market. The process also ensures that an individual has the highest standards of knowledge, attitude and ethics.
4. Meet regulatory requirement for certain jobs
Many regulations require that persons working on certain kinds of roles possess particular NISM certifications. For example, any person working in sales role in a mutual funds distribution company must have passed NISM Series V A: Mutual Fund Distributors Certification Examination. So the certification becomes mandatory to take up these kind of jobs.
5. Career advancement
NISM certifications also help in advancement of careers for those who are already in the financial services sector. Usually, one can self-study and clear the NISM exam in 6-8 weeks along with the ongoing job.After you have booked the exam, download the study material for self-study purpose and clear as many mock tests as possible before you appear for the main exam. Any financial services company will give preference to the candidates with NISM certifications.
Therefore, NISM certification adds a lot to your skills, knowledge and personal growth. It is highly recommended to go for NISM certification if you are looking for career growth or willing to start a career in the finance field.
Most common NISM Certification Examinations are:
| Sr.No | NISM Exam | Test Duration | Fees (Rs) | No. of Questions | Pass Mark (%) | Negative Marks (%) | Certificate Validity(in years) |
| 1 | NISM Series V A: Mutual Fund Distributors Certification Examination | 2hrs | 1500/- | 100 | 50 | – | 3 |
| 2 | NISM-Series V-B: Mutual Fund Foundation Certification Examination | 2hrs | 1200/- | 50 | 50 | – | 3 |
| 3 | NISM-Series-V-C: Mutual Fund Distributors (Level 2) Certification Examination | 2hrs | 1770/- | 75 | 60 | 25 | 3 |
| 4 | NISM-Series-VIII: Equity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 60 | 25 | 3 |
| 5 | NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination | 3 hrs | 3000+ | 135 | 60 | 25 | 3 |
| 6 | NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination | 3 hrs | 3000+ | 120 | 60 | 25 | 3 |
| 7 | NISM Series-XIII: Common Derivatives Certification Examination | 3hrs | 3000/- | 150 | 60 | 25 | 3 |
| 8 | NISM Series-XV: Research Analyst Certification Examination | 2hrs | 1500/- | 100 | 60 | 25 | 3 |
| 9 | NISM-Series-XVI: Commodity Derivatives Certification Examination | 2hrs | 1500/- | 100 | 60 | 25 | 3 |
| 10 | NISM Series XIX-A: Alternative Investment Funds (Category I and II) Distributors | 2hrs | 1770 | 100 | 60 | 25 | 3 |
| 11 | NISM-Series-XX-Taxation in Securities Markets | 2 hrs | 1770+ | 75 | 60 | 25 | 3 |
| 12 | NISM Series XXI-A: Portfolio Management Services (PMS) Distributors | 2hrs | 1500 | 100 | 60 | 25 | 3 |
One can easily register for these exams through the official website of NISM. Once you register, you can download the workbook and start preparing for the NISM exam.
The best part is that you need no qualifications or age limit to appear for the exam and once you clear, you can easily get jobs in fields like investment advisor, investment banking, dealers, mutual fund distributor, research analyst, sub-broking, etc.
Frequently Asked Questions (FAQs):
1. Is it difficult to pass the NISM exam?
Do not be scared of the exam. You won’t find it difficult if you have studied all chapters from the study material and practiced the mock tests.
Also, all questions are in MCQ format that makes it even easier. Please be careful in case you are appearing for an exam which has negative marking. You can skip the question in that case instead of attempting it wrong,
2. What should I do if I fail NISM exam?
In case you fail, there is always a next time. You can re-attempt it as many times as you want.
3. Can I give NISM exam at home?
Some of the exams are available from both offline and online mode. In such cases, there is no need to travel to a center, you need to have a laptop with a webcam and a good internet connection. The test is recorded and is reviewed by NISM.
4. Which book is best for NISM?
There is no best book as such. You get a workbook from NISM when you book an exam which is sufficient to clear the exam.
5. Is NISM certificate useful?
For all those who are scrutinizing a career in the financial market, NISM exam is the best possibility for you. You can pursue this without any specialization in Economics, Management, and Commerce. You can be of any background and yet can make your career in this. Witnessing the daily increase of interest of people in the Investment sector, this exam opens a wide range of career options. Once you clear this exam you can start exploring opportunities in sectors like Investment banking, Sub- Broking, Mutual Fund agent, Research analyst, Broker dealer etc.
6. Which NISM certification is best for job?
All the certificates in NISM are designed to help an individuals to work in a different areas of financial industry so here one should have to be very specific while preparing for any NISM certificate for e.g the certificate of NISM Mutual fund distributor may not work for if you wants to work in equity derivative segment.
7. How to Pass NISM Certification Exam in First Attempt?
You can try to clear the exam in first attempt by the following methods:
- Read the study material thoroughly.
- Make internet your best friend. There are various videos available to watch on the internet if you aren’t able to understand any concept, learn it from there.
- Mock tests are available in the NISM portal for free that you must solve once you have completed the course.
This will really help you to clear it in the first attempt.
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