NISM Series II-A Study Material: What to Use
The official NISM workbook, third-party notes and mock tests, and what each is genuinely good for.
The one essential piece of study material for NISM Series II-A is NISM's own workbook. The exam is largely based on it, and the weightage table in the workbook is the one the paper follows. Everything else is a supplement.
The current workbook is version March 2026. Its own note says to refer to that version for the Series II-A exam taken on or after April 30, 2026, and that the updates made in it are highlighted in yellow. If you have an older copy, replace it.
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What to use, and what each is good for
NISM workbook, March 2026
Use it for
The full syllabus: 15 chapters, sample questions after each, five annexures to chapter 13
Watch out for
Older versions that predate the SEBI RTA regulations of 2025
The workbook's weightage table
Use it for
Deciding how long to spend on each chapter
Watch out for
Treating light chapters as optional: 2 and 3 marks still count
SEBI circulars cited in the footnotes
Use it for
Checking the exact wording of a rule the workbook summarises
Watch out for
Reading them in place of the workbook; the exam follows the workbook
Third-party notes and summaries
Use it for
Quick revision of terms and procedures
Watch out for
Notes made for an older workbook, including the wrong claim of negative marking
Your own notes and flashcards
Use it for
Regulations, forms, who-does-what at each step
Watch out for
Copying the workbook out in full instead of condensing it
Timed practice papers
Use it for
Testing recall under the 120-minute limit
Watch out for
Question sets written for an older workbook version
| Material | Use it for | Watch out for |
|---|---|---|
| NISM workbook, March 2026 | The full syllabus: 15 chapters, sample questions after each, five annexures to chapter 13 | Older versions that predate the SEBI RTA regulations of 2025 |
| The workbook's weightage table | Deciding how long to spend on each chapter | Treating light chapters as optional: 2 and 3 marks still count |
| SEBI circulars cited in the footnotes | Checking the exact wording of a rule the workbook summarises | Reading them in place of the workbook; the exam follows the workbook |
| Third-party notes and summaries | Quick revision of terms and procedures | Notes made for an older workbook, including the wrong claim of negative marking |
| Your own notes and flashcards | Regulations, forms, who-does-what at each step | Copying the workbook out in full instead of condensing it |
| Timed practice papers | Testing recall under the 120-minute limit | Question sets written for an older workbook version |
What is inside the workbook
- check_circle15 chapters, from the basics of securities through to client servicing
- check_circleA chapter-wise weightage table
- check_circleLearning objectives at the start of each chapter and sample questions at the end
- check_circleFive annexures to chapter 13: standard operating procedures for change of address, duplicate share certificates and transmission, Form ISR-1 for PAN and KYC details, and the investor charter
- check_circleA list of abbreviations and a list of important websites
- check_circleFootnotes naming the SEBI circular behind many rules
How to get it
Get the workbook from NISM: its Series II-A page at nism.ac.in is the place to start. Check the version printed on the cover before you rely on any copy, including one a colleague passes on.
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What the workbook does well, and where to add
The workbook is developed with input from the Registrars and Transfer Agent Association of India (RAIN), and it shows: it explains the RTA's work in public issues, depository processes and investor services from the inside. Because it is written by the body that sets the exam, it is also the safest source on terms and rules.
Its challenge is the number of regulations and procedures. Chapter 6 alone covers the SEBI Act, five sets of SEBI regulations and the IEPF Authority, and chapter 12 is the heaviest in the paper. Two additions help: a short set of your own summary notes per chapter, and plenty of question practice so you learn how the facts are asked.
Notes worth making as you read
- checkA one-page list of the SEBI regulations in chapter 6 and what each requires of an RTA
- checkA map of who is who in a public issue: issuer, RTA, sponsor bank, bankers to the issue, brokers and syndicate members
- checkThe dematerialisation and rematerialisation flows, from investor to DP to RTA and back
- checkCorporate actions through the depository and the RTA's reconciliation with the depositories
- checkTransfer, transmission and duplicate certificates side by side, with the form used for each
- checkThe investor charter's rights and the RTA's service duties
On practice questions
The workbook notes that its sample caselets and multiple choice questions are for reference only and that the actual exam's difficulty may vary. Use the chapter-end questions to check understanding, and use full-length timed papers closer to the exam to check speed and recall.
Beware of out-of-date material
RTA rules change, and the March 2026 workbook highlights its own updates for that reason. Notes, videos or question sets made for an older version can teach a rule that has since changed. When a source disagrees with the current workbook, go with the workbook.
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