NISM Mock Tests & Exam Prep
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Browse All NISM Certifications
Series I: Currency Derivatives
100 Qs / Negative marking
Series II-A: Registrars to an Issue & Share Transfer Agents — Corporate
100 Qs / Negative marking
Series II-B: Registrars to an Issue & Share Transfer Agents — Mutual Fund
100 Qs / Negative marking
Series III-A: Securities Intermediaries Compliance (Non-Fund)
100 Qs / Negative marking
Series III-B: Issuers and Transfer Agents — Compliance (Fund)
100 Qs / Negative marking
Series IV: Interest Rate Derivatives
100 Qs / Negative marking
Series IX: Merchant Banking
100 Qs / Negative marking
Series V-A: Mutual Fund Distributors
100 Qs / Negative marking
Series V-B: Mutual Fund Foundation
50 Qs / No negative marking
Series VI: Depository Operations
100 Qs / Negative marking
Series VII: Securities Operations and Risk Management
100 Qs / Negative marking
Series VIII: Equity Derivatives
100 Qs / Negative marking
Series X-A: Investment Adviser (Level 1)
150 Qs / Negative marking
Series X-B: Investment Adviser (Level 2)
150 Qs / Negative marking
Series XI-A: Equity Sales
100 Qs / Negative marking
Series XIII: Common Derivatives
180 Qs / Negative marking
Series XIV: Internal Auditors for Commodity Market
150 Qs / Negative marking
Series XIX-A: Alternative Investment Fund Managers — Category I and II
150 Qs / Negative marking
Series XIX-B: Alternative Investment Fund Managers — Category III
150 Qs / Negative marking
Series XIX-C: Alternative Investment Fund Managers
150 Qs / Negative marking
Series XV: Research Analyst
100 Qs / Negative marking
Series XVI: Commodity Derivatives
100 Qs / Negative marking
Series XVII: Retirement Adviser
100 Qs / Negative marking
Series XX: Accounts and Audit
100 Qs / Negative marking
Series XXI-A: Portfolio Management Services — Distributors
100 Qs / Negative marking
Series XXI-B: Portfolio Management Services — Portfolio Managers
150 Qs / Negative marking
Series XXIII: Research Analyst — Commodity Derivatives
150 Qs / Negative marking
Series XXIV: Securities Market Foundation
100 Qs / No negative marking
Series XXV-A: Persons Associated with Research Services
50 Qs / No negative marking
Series XXV-B: Persons Associated with Investment Advice
50 Qs / No negative marking
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Compare Certifications
| Certification | Duration | Questions | Pass % | Validity |
|---|---|---|---|---|
| Series V-A | 2 hrs | 100 | 50% | 3 years |
| Series XVLIVE | 2 hrs | 100 | 60% | 3 years |
| Series X-A | 3 hrs | 150 | 60% | 3 years |
What trips NISM Series VIII candidates up
Based on exam analysis and student performance data — know these before you walk in.
Frequently Failed Topics
- Option Greeks
- Futures Pricing Formulas
- Margin Calculations
High-Frequency Concepts
- Put-Call Parity
- Open Interest vs Volume
- Initial and Maintenance Margin
- Intrinsic vs Time Value
- Basis and Convergence
Common Mistakes
Confusing futures and forwards payoffs; miscalculating option premium components; ignoring negative marking and attempting low-confidence questions.
Recommended: 1.5–2 hours daily over 30 days
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Frequently Asked Questions
What is NISM Series VIII certification?
NISM Series VIII is the Equity Derivatives Certification Examination conducted by NISM. It is mandatory for all equity derivatives dealers and traders registered with SEBI-registered stock brokers.
What is the passing score for NISM Series VIII?
The passing score is 60 out of 100 marks. There is negative marking of 0.25 marks per wrong answer.
How long is NISM Series VIII certification valid?
NISM Series VIII certification is valid for 3 years from the date of passing. After that, you must renew by giving the CPE exam or re-appearing for the certification exam.
How many questions are in the NISM Series VIII exam?
The exam has 100 MCQ questions to be answered in 120 minutes.
What is the registration fee for NISM Series VIII?
The registration fee is ₹1,500 (plus GST). The same fee applies for reattempts.
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