NISM Series-X-B: Investment Adviser (Level 2) Certification Examination

NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination along with the NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination seeks to create a common minimum knowledge benchmark for all associated persons registered as an investment adviser and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013 and offering investment advisory services.

An associated person shall be required to pass both the 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:

Know the comprehensive financial planning in the context of households to apply the planning elements learnt in Level 1 Certification Examination.

Understand the structure and performance of securities markets; importance of asset allocation and impact of the market movement on the assets performance.

Know the practical aspect of product selection, portfolio construction, review and rebalancing based on clients need.

Know the compliance, operations and service elements in investment advice.

Assessment Structure

The examination consists of 8 case lets with 4 multiple choice questions of 2 marks each per case let and 36 multiple choice questions of 1 mark each adding up to 100 marks. The examination should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60 marks.

Test Details

Name of Module: NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination

Fees (Rs.)Test Duration (in minutes)No. of QuestionsMaximum MarksPass Marks* (%)Certificate Validity# (in years)
1500+12068~100603

~ 36 multiple choice questions of 1 mark each and 8 case lets with 4 multiple choice questions of 2 marks each (Total 68 questions adding up to 100 marks).
*: Negative marking - 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.

Source: nism.ac.in
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