NISM Mock Tests for Every Series
Pick your NISM series below. Each link opens that series' mock tests and exam details.
NISM runs a separate certification exam for each role in the securities market, so there is no single NISM mock test. A mutual fund distributor sits Series V-A; an equity derivatives dealer sits Series VIII. Each paper has its own syllabus, length, pass mark and negative marking rule.
The list below has every NISM series PrepClever runs mock tests for, grouped by area. Each one follows that series' published exam pattern and its official workbook.
NISM mock tests by series
Mutual funds and PMS distribution
- NISM Series V-A: Mutual Fund DistributorsMutual fund products, how they are sold and how investors are serviced.9 mocks · 25 practice tests
- NISM Series V-D: Mutual Fund, Specialized Investment Fund DistributorsSpecialized Investment Funds (SIFs) and how they are distributed.5 mocks · 15 practice tests
- NISM Series XXI-A: Portfolio Management Services (PMS) DistributorsDistributing portfolio management services (PMS).6 mocks · 10 practice tests
Derivatives
- NISM Series VIII: Equity DerivativesEquity futures and options: trading, clearing, settlement and risk.6 mocks · 20 practice tests
- NISM Series I: Currency DerivativesExchange-traded currency futures and options.5 mocks · 11 practice tests
- NISM Series XVI: Commodity DerivativesCommodity futures and options, trading and settlement.5 mocks · 11 practice tests
Investment advice and research
- NISM Series X-A: Investment Adviser (Level 1)The first of the two investment adviser papers.9 mocks · 23 practice tests
- NISM Series X-B: Investment Adviser (Level 2)The second of the two investment adviser papers.5 mocks · 5 practice tests
- NISM Series XV: Research AnalystEquity research, valuation and the rules for research analysts.7 mocks · 26 practice tests
- NISM Series XV-B: Research Analyst Certification (Renewal)The renewal exam for Series XV research analysts.5 mocks · 15 practice tests
- NISM Series XXV-A: Persons Associated with Research ServicesSales and other non-core roles in research services.5 mocks · 23 practice tests
- NISM Series XXV-B: Persons Associated with Investment Advice (Sales and Other Non-Core Services)Sales and other non-core roles in investment advice.6 mocks · 14 practice tests
Operations, RTA and compliance
- NISM Series VI: Depository OperationsDemat accounts and the work of a depository participant.5 mocks · 1 practice test
- NISM Series VII: Securities Operations and Risk ManagementBroking operations, clearing, settlement and risk management.5 mocks · 1 practice test
- NISM Series II-A: Registrars and Transfer Agents (Corporate)Registrar and share transfer agent work for companies.5 mocks · 16 practice tests
- NISM Series III-A: Securities Intermediaries Compliance (Non-Fund)Compliance for securities intermediaries under SEBI rules.5 mocks · 24 practice tests
More NISM certifications
- NISM Series XII: Securities Markets FoundationAn entry-level paper on how India's securities markets work.5 mocks · 7 practice tests
- NISM Series IX: Merchant BankingMerchant banking and SEBI's rules for merchant bankers.8 mocks · 12 practice tests
- NISM Series XVII: Retirement AdviserRetirement planning, NPS and the PFRDA rules.5 mocks · 10 practice tests
- NISM Series XIX-D: Category I and II AIF ManagersManaging Category I and II alternative investment funds.5 mocks · 15 practice tests
- NISM-IFSCA-01: AML and CFT in the IFSCAML and counter-terrorist financing rules in the GIFT IFSC.5 mocks · 9 practice tests
- NISM Series II-B: Registrars and Transfer Agents (Mutual Fund)Registrars and Transfer Agents (Mutual Fund)
How to use NISM mock tests
Mocks work best as a way to find gaps, not as the only way to study.
- 1
Read the workbook first
NISM's workbook for your series is the syllabus. It is free to download from NISM's study material page. Read a chapter before you test yourself on it.
- 2
Take one full mock early
Sit a full paper under exam conditions: the real duration, no notes, and the series' negative marking. Your score shows which chapters need work.
- 3
Review every wrong answer
Go back to the workbook section each wrong answer came from. A mistake you understand is worth more than three right guesses.
- 4
Repeat until you clear the pass mark with room to spare
Take fresh mocks after each round of revision. Stop when you pass them steadily, not once.
Mocks are practice, not the real paper
NISM keeps its question bank confidential. Its candidate rules treat getting test questions before the exam as unfair means, and it does not disclose questions or answers even on re-evaluation. A good mock matches the pattern and the workbook; it does not copy the real exam.
FAQs
Is there one NISM mock test for all series?expand_more
No. Each NISM series is a separate exam with its own syllabus and pattern, so you need mocks for the series you are taking. Pick yours from the list on this page.
Are NISM mock test questions the same as the real exam?expand_more
No. NISM's question bank is confidential. Mock tests are written from the official workbook and follow the published pattern, so they test the same topics in the same format, but they are not the actual questions.
Do NISM mock tests have negative marking?expand_more
They should match your series. NISM sets negative marking per series: Series V-A has none, while Series VIII deducts 25% of a question's marks for a wrong answer. Check your series' page for its rule.
How many NISM mock tests should I take?expand_more
There is no fixed number. Take one full paper early to find weak chapters, revise them from the workbook, then keep taking fresh mocks until you pass them consistently.
Where do I get the NISM syllabus for my mock test?expand_more
From NISM's workbook for your series, which NISM offers as a free download. The mocks on each series page follow that workbook's chapters.
Not sure which series you need?
Create a free account, pick your NISM series and take a free diagnostic test.