Nism Certificate Courses (2026): Eligibility, Duration, Fees, Top Institutes & Job Scope
What are NISM Certification Courses 2026? Essential Financial Expertise
NISM certification courses are professional qualifications offered by SEBI’s educational arm, NISM, and are mandatory for individuals working in India’s securities market. These essential financial expertise programs cover key areas like mutual funds and derivatives, ensuring regulatory compliance and domain expertise for market participants.
| Sr. No. | NISM Certification Course Name | Test Duration (minutes) | Total Marks | Passing Marks (%) | Penalty for Incorrect Answers | Validity of Certificate (Years) | Course Fee (Rs.) |
|---|---|---|---|---|---|---|---|
| 1 | NISM-Series-I: Currency Derivatives | 120 | 100 | 60 | 25% | 3 | 1500 |
| 2 | NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate | 120 | 100 | 50 | 25% | 3 | 1500 |
| 3 | NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund | 120 | 100 | 50 | 25% | 3 | 1500 |
| 4 | NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) | 120 | 100 | 60 | 25% | 3 | 1500 |
| 5 | NISM-Series-III-B: Issuers Compliance | 120 | 100 | 60 | 25% | 3 | 1770 |
| 6 | NISM-Series-IV: Interest Rate Derivatives | 120 | 100 | 60 | 25% | 3 | 1500 |
| 7 | NISM-Series-V-A: Mutual Fund Distributors | 120 | 100 | 50 | – | 3 | 1500 |
| 8 | NISM-Series-V-B: Mutual Fund Foundation | 120 | 50 | 50 | – | 3 | 1200 |
| 9 | NISM-Series-V-C: Mutual Fund Distributors (Level 2) | 120 | 100 | 60 | 25% | 3 | 1770 |
| 10 | NISM-Series-VI: Depository Operations | 120 | 100 | 60 | 25% | 3 | 1500 |
| 11 | NISM-Series-VII: Securities Operations and Risk Management | 120 | 100 | 50 | 25% | 3 | 1500 |
| 12 | NISM-Series-VIII: Equity Derivatives | 120 | 100 | 60 | 25% | 3 | 1500 |
| 13 | NISM-Series-IX: Merchant Banking | 120 | 100 | 60 | 25% | 3 | 1500 |
| 14 | NISM-Series-X-A: Investment Adviser (Level 1) | 180 | 150 | 60 | 25% | 3 | 3000 |
| 15 | NISM-Series-X-B: Investment Adviser (Level 2) | 180 | 150 | 60 | 25% | 3 | 3000 |
| 16 | NISM-Series-XII: Securities Markets Foundation | 120 | 100 | 60 | – | 3 | 1770 |
| 17 | NISM-Series-XIII: Common Derivatives | 180 | 150 | 60 | 25% | 3 | 3000 |
| 18 | NISM-Series-XV: Research Analyst | 120 | 100 | 60 | 25% | 3 | 1500 |
| 19 | NISM-Series-XVI: Commodity Derivatives | 120 | 100 | 60 | 25% | 3 | 1500 |
| 20 | NISM-Series-XVII: Retirement Adviser | 120 | 100 | 60 | 25% | 3 | 1500 |
| 21 | NISM-Series-XVIII: Financial Education | 120 | 50 | 50 | – | 3 | 1416 |
| 22 | NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors | 120 | 100 | 60 | 25% | 3 | 1770 |
| 23 | NISM-Series-XIX-B: Alternative Investment Funds (Category III) Distributors | 120 | 100 | 60 | 25% | 3 | 1770 |
| 24 | NISM-Series-XX: Taxation in Securities Markets | 120 | 100 | 60 | 25% | 3 | 1770 |
| 25 | NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors | 120 | 100 | 60 | 25% | 3 | 1500 |
The table above details 25 of the 30+ NISM certificate courses available, highlighting their specific requirements, durations, and fees. These diverse offerings ensure professionals across various financial sectors can meet SEBI’s regulatory standards and enhance their expertise.
NISM Certification Course Fees 2026: Module-wise Exam Costs
This section details the fees for various NISM certification courses and examinations for 2026, including module-wise costs, duration, and passing criteria. Please note that online payment gateway charges are extra for these NISM certificate courses.
| Sr. No | Examination/Course Name | Duration (in mins) | Maximum Marks | Pass Mark (%) | Negative Marks (%) | Certificate Validity (in years) | Fees (₹) |
|---|---|---|---|---|---|---|---|
| NISM Certification Examination – Mandated By SEBI | |||||||
| 1 | NISM-Series-I: Currency Derivatives | 120 | 100 | 60% | 25% | 3 | 1500 |
| 2 | NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate | 120 | 100 | 50% | – | 3 | 1500 |
| 3 | NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund | 120 | |||||
How to Enroll for NISM Certification Exams 2026: Step-by-Step Process
Enrolling for NISM certification exams in 2026 involves a clear, step-by-step process, starting with account creation on the official portal. This guide outlines the necessary documents, technical requirements, and fee structures to successfully register for various nism certificate courses.
| Step | Description | Duration |
|---|---|---|
| 1 | Visit the Official NISM Certification Portal (certifications.nism.ac.in and locate the registration section) | 2-3 minutes |
| 2 | Create Your NISM Candidate Account (Fill in the registration form with personal, contact, and document details) | 10-15 minutes |
| 3 | Account Verification and Approval (Wait for NISM to review and approve your registration) | 24-48 hours (up to 5 working days) |
| 4 | Login to Your Approved Account (Access your candidate dashboard after account approval) | 1-2 minutes |
| 5 | Select Your NISM Certification Exam (Choose the certification you want to pursue from available options) | 5-10 minutes |
| 6 | Choose Exam Center, Date, and Time Slot (Select your preferred test location and schedule) | 5-7 minutes |
| 7 | Payment of Examination Fees (Complete fee payment through secure gateway) | 3-5 minutes |
| 8 | Enrollment Confirmation (Receive confirmation of successful enrollment) | 5-10 minutes |
| 9 | Download Study Material (Access free digital study materials for your exam) | 2-5 minutes |
| 10 | Download Admit Card (Download and print your exam admit card) | 2-3 minutes |
The entire registration process, from portal visit to admit card download, can be completed efficiently by following these steps, with account approval taking the longest duration.
- Official NISM Certification Portal: certifications.nism.ac.in
- Account Verification and Approval Duration: 24-48 hours (up to 5 working days)
- Mandatory Identity Document: PAN Card (JPEG, JPG, Max 1 MB, clear, valid, name must match)
- Mandatory Photograph Requirements: Passport-Size Photograph (JPEG, JPG, Max 1 MB, recent, plain background, clear face)
- Minimum Age Eligibility: 18 years or above (applicable to most NISM certifications)
- Accepted Payment Methods: Debit card, credit card, net banking, or UPI
NISM Exam Pattern & Syllabus 2026: Key Modules and Weightage
The NISM exam pattern and syllabus have undergone significant updates for 2026, notably with a complete restructuring of the NISM Series XV (Research Analyst) examination. This section details key modules, weightage, and other crucial aspects across various nism certificate courses to help candidates prepare effectively.
| Sr. No | NISM Certification Examination | Duration (in mins) | Maximum Marks | Pass Mark (%) | Negative Marks (%) | Certificate Validity (in years) | Fees (₹) |
|---|---|---|---|---|---|---|---|
| 1 | NISM-Series-I: Currency Derivatives | 120 | 100 | 60% | 25% | 3 | 1500 |
| 2 | NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate | 120 | 100 | 50% | – | 3 | 1500 |
| 3 | NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund | 120 | 100 | 50% | – | 3 | 1500 |
| 4 | NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) | 120 | 100 | 60% | 25% | 3 | 1500 |
| 5 | NISM-Series-III-C: Securities Intermediaries Compliance (Fund) | 120 | 100 | 60% | 25% | 3 | 1500 |
| 6 | NISM-Series-IV: Interest Rate Derivatives | 120 | 100 | 60% | 25% | 3 | 1500 |
| 7 | NISM-Series-V-A: Mutual Fund Distributors (English) | 120 | 100 | 50% | – | 3 | 1500 |
| 8 | NISM-Series-V-A: Mutual Fund Distributors (Hindi) | 120 | 100 | 50% | – | 3 | 1500 |
| 9 | NISM-Series-V-B: Mutual Fund Foundation | 120 | 50 | 50% | – | 3 | 1200 |
| 10 | NISM-Series-VI: Depository Operations | 120 | 100 | 60% | 25% | 3 | 1500 |
| 11 | NISM-Series-VII: Securities Operations and Risk Management | 120 | 100 | 50% | 25% | 3 | 1500 |
| 12 | NISM-Series-VIII: Equity Derivatives | 120 | 100 | 60% | 25% | 3 | 1500 |
| 13 | NISM-Series-IX: Merchant Banking | 120 | 100 | 60% | 25% | 3 | 1500 |
| 14 | NISM-Series-X-A: Investment Adviser (Level 1) | 180 | 150 | 60% | 25% | 3 | 3000 |
| 15 | NISM-Series-X-B: Investment Adviser (Level 2) | 180 | 150 | 60% | 25% | 3 | 3000 |
| 16 | NISM-Series-X-C: Investment Adviser Certification (Renewal) | 60 | 50 | 50% | – | 3 | 2500 |
| 17 | NISM-Series-XIII: Common Derivatives | 180 | 150 | 60% | 25% | 3 | 3000 |
| 18 | NISM-Series-XV: Research Analyst | 120 | 100 | 60% | 25% | 3 | 1500 |
| 19 | NISM-Series-XV-B: Research Analyst Certification (Renewal) | 60 | 50 | 50% | – | 3 | 2500 |
| 20 | NISM-Series-XVI: Commodity Derivatives | 120 | 100 | 60% | 25% | 3 | 1500 |
| 21 | NISM-Series-XIX-C: Alternative Investment Fund Managers | 180 | 150 | 60% | 25% | 3 | 3000 |
| 22 | NISM-Series-XIX-D: Category I and II Alternative Investment Fund Managers | 120 | 100 | 60% | 25% | 3 | 1500 |
| 23 | NISM-Series-XIX-E: Category III Alternative Investment Fund Managers | 120 | 100 | 60% | 25% | 3 | 1500 |
| 24 | NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors | 120 | 100 | 60% | 10% | 3 | 1500 |
| 25 | NISM-Series-XXI-B: Portfolio Managers | 180 | 150 | 60% | 25% | 3 | 3000 |
| 26 | NISM-Series-XXIII: Social Impact Assessors | 120 | 100 | 60% | 25% | 3 | 1500 |
| 27 | NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) | 60 | 50 | 50% | – | 3 | 1500 |
| 28 | NISM-Series-XVII: Retirement Adviser | 120 | 100 | 60% | 25% | 3 | 1500 |
| 29 | NISM-IFSCA-01: Certification Course on AML and Counter Terrorist Financing in the IFSC | 60 | 50 | 50% | – | 2 | 885 |
| 30 | NISM-Series-XII: Securities Markets Foundation | 120 | 100 | 60% | – | 3 | 1003 |
This comprehensive overview highlights the diverse range of NISM certificate courses, detailing their duration, maximum marks, passing criteria, and fees, offering a clear guide for aspiring professionals in the financial markets.
Specific updates for the NISM Series XV (Research Analyst) 2026 examination include:
- Exam Restructuring: Fundamentally restructured in early 2026 with a complete workbook overhaul.
- Syllabus Expansion: Syllabus expanded from 13 to 15 chapters.
- Technical Analysis: Now commands a solid 15 marks, an increase from roughly 10% weightage.
- Case Study Section: Features 5 distinct case studies, each carrying 4 marks, totaling 20 marks.
- Question Bifurcation: The exam is roughly 35-35% for theory and numericals, with remaining weightage for case studies.
NISM Certifications vs CIEL Wealth Management: Course Comparison 2026
The National Institute of Securities Markets (NISM) provides 25 active certification programs recognized by SEBI, which are mandatory for various financial roles. CIEL Learning supports candidates in achieving these NISM certificate courses by offering preparatory trainings and acting as an accredited NISM Continuing Professional Education (CPE) Provider, rather than offering its own comparable certifications.
| Sr. No. | NISM Certification Examination Name | Mandating Authority / Type | Duration (in mins) | Maximum Marks | Pass Mark (%) | Negative Marks (%) | Certificate Validity (in years) | Fees (₹) |
|---|---|---|---|---|---|---|---|---|
| 1 | NISM-Series-I: Currency Derivatives | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 2 | NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate | SEBI | 120 | 100 | 50% | – | 3 | 1500 |
| 3 | NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund | SEBI | 120 | 100 | 50% | – | 3 | 1500 |
| 4 | NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 5 | NISM-Series-III-C: Securities Intermediaries Compliance (Fund) | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 6 | NISM-Series-IV: Interest Rate Derivatives | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 7 | NISM-Series-V-A: Mutual Fund Distributors (English) | SEBI | 120 | 100 | 50% | – | 3 | 1500 |
| 8 | NISM-Series-V-A: Mutual Fund Distributors (Hindi) | SEBI | 120 | 100 | 50% | – | 3 | 1500 |
| 9 | NISM-Series-V-B: Mutual Fund Foundation | SEBI | 120 | 50 | 50% | – | 3 | 1200 |
| 10 | NISM-Series-VI: Depository Operations | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 11 | NISM-Series-VII: Securities Operations and Risk Management | SEBI | 120 | 100 | 50% | 25% | 3 | 1500 |
| 12 | NISM-Series-VIII: Equity Derivatives | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 13 | NISM-Series-IX: Merchant Banking | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 14 | NISM-Series-X-A: Investment Adviser (Level 1) | SEBI | 180 | 150 | 60% | 25% | 3 | 3000 |
| 15 | NISM-Series-X-B: Investment Adviser (Level 2) | SEBI | 180 | 150 | 60% | 25% | 3 | 3000 |
| 16 | NISM-Series-X-C: Investment Adviser Certification (Renewal) | SEBI | 60 | 50 | 50% | – | 3 | 2500 |
| 17 | NISM-Series-XIII: Common Derivatives | SEBI | 180 | 150 | 60% | 25% | 3 | 3000 |
| 18 | NISM-Series-XV: Research Analyst | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 19 | NISM-Series-XV-B: Research Analyst Certification (Renewal) | SEBI | 60 | 50 | 50% | – | 3 | 2500 |
| 20 | NISM-Series-XVI: Commodity Derivatives | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 21 | NISM-Series-XIX-C: Alternative Investment Fund Managers | SEBI | 180 | 150 | 60% | 25% | 3 | 3000 |
| 22 | NISM-Series-XIX-D: Category I and II Alternative Investment Fund Managers | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 23 | NISM-Series-XIX-E: Category III Alternative Investment Fund Managers | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 24 | NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors | SEBI | 120 | 100 | 60% | 10% | 3 | 1500 |
| 25 | NISM-Series-XXI-B: Portfolio Managers | SEBI | 180 | 150 | 60% | 25% | 3 | 3000 |
| 26 | NISM-Series-XXIII: Social Impact Assessors | SEBI | 120 | 100 | 60% | 25% | 3 | 1500 |
| 27 | NISM-Series-XXV-A: Persons Associated with Research Services (Sales and Other Non-Core Services) | SEBI | 60 | 50 | 50% | – | 3 | 1500 |
| 28 | NISM-Series-XVII: Retirement Adviser | PFRDA | 120 | 100 | 60% | 25% | 3 | 1500 |
| 29 | NISM-IFSCA-01: Certification Course on AML and Counter Terrorist Financing in the IFSC | IFSCA | 60 | 50 | 50% | – | 2 | 885 |
| 30 | NISM-Series-XII: Securities Markets Foundation | Non-Mandatory | 120 | 100 | 60% | – | 3 | 1003 |
This comprehensive table details various NISM certificate courses, outlining their mandating authority, duration, scoring criteria, validity, and fees, providing a clear overview of the requirements for each examination.
Frequently Asked Questions
What are the NISM certification course fees for 2026?
NISM certification course fees for 2026 vary by module, covering diverse areas like equities, mutual funds, and derivatives, as recognized by SEBI.
What are the module-wise exam costs for NISM certifications?
NISM certification course fees vary by module. For example, the NISM VA certification costs 1500, including all relevant taxes.
How much does each NISM exam cost?
Most standard NISM exams cost around Rs 1500. Fees vary by certification module, with some foundation exams costing less and advanced modules potentially more.
What is nism certificate courses?
NISM certification courses are professional qualifications from SEBI’s educational arm, NISM, mandatory for individuals in India’s securities market. They validate financial expertise across various market aspects.
What are the eligibility requirements for nism certificate courses?
Eligibility requirements vary by NISM certification program. Candidates must meet the specific criteria for their chosen exam.
How do I apply for nism certificate courses?
Apply for NISM certificate courses through a quick and convenient online registration process. The application is straightforward and involves planning.
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