The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as investment advisers and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013, and offering investment advisory services.

NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is the level 1 examination and NISM has also launched the NISM-Series-X-B: Investment Adviser (Level 2)
Certification Examination.

An associated person is required to pass both 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 Regulation 7(2) of the 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 examination, the candidate should:

1. Know the basics of personal financial planning, time value of money, evaluating the financial position of clients, debt management, and loans.
2. Understand the Indian Financial Markets and Indian Securities market segments
3. 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.
4. Know about portfolio construction, performance monitoring, and evaluation.
5. 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 cases/case-based questions and should be completed in 3 hours. The passing score for the examination is 60% which is 90 marks out of a total of 150 marks. There shall be a 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)] 6*5*1 = 30 marks  

[3 caselets (with 5 questions of 2 marks each]  3*5*2= 30 marks

Total- 150 marks

HOW TO REGISTER AND TAKE THE EXAMINATION

To find out more and register for the examination please visit www.nism.ac.in