NISM Series III-A Exam Pattern
100 marks, 2 hours, negative marking: exactly how Series III-A is scored and passed.
The NISM Series III-A paper has 100 questions of 1 mark each, for 100 marks, and you get 120 minutes. You pass with 60%, which is 60 marks. A wrong answer costs 25% of the question's marks, so 0.25 is deducted for each one.
The exam is computer-based, booked through NISM's certification portal. The workbook notes that test centre workstations have either Microsoft Excel or LibreOffice for numerical questions, and advises candidates to be comfortable with both.
You save ₹500
- Full-length mock tests
- Chapter-wise question bank
- AI study plan
One payment, no subscription · Valid for 1 month
The paper at a glance
| Item | Detail |
|---|---|
| Questions | 100 |
| Marks per question | 1 |
| Total marks | 100 |
| Duration | 120 minutes (2 hours) |
| Pass mark | 60% (60 out of 100) |
| Negative marking | 25% of a question's marks, so 0.25 per wrong answer |
| Unanswered question | 0, no deduction |
| Format | Computer-based, booked through NISM's certification portal |
| Fee | ₹1,500 plus payment gateway charges |
| Certificate validity | 3 years |
How the 100 marks are split by chapter
Weightage from the March 2026 workbook. Part A (chapters 1 to 10) carries 56 marks; Part B (chapters 11 to 23) carries 44.
| Chapter | Marks |
|---|---|
| 1. Introduction to the Financial System | 5 |
| 2. Regulatory Framework: General View | 9 |
| 3. Introduction to Compliance | 4 |
| 4. SEBI Act, 1992 | 7 |
| 5. SCRA, 1956 and SCRR, 1957 | 4 |
| 6. SEBI (Intermediaries) Regulations, 2008 | 6 |
| 7. SEBI (Prohibition of Insider Trading) Regulations, 2015 | 6 |
| 8. SEBI (PFUTP) Regulations, 2003 | 6 |
| 9. Prevention of Money Laundering Act, 2002 | 7 |
| 10. SEBI (KYC Registration Agency) Regulations, 2011 | 2 |
| 11. SEBI (Foreign Portfolio Investors) Regulations, 2019 | 3 |
| 12. SEBI (Stock Brokers) Regulations, 2025 | 6 |
| 13. Merchant Bankers (2025), SAST (2011) and Bankers to an Issue (1994) Regulations | 6 |
| 14. SEBI (ICDR) Regulations, 2018 | 6 |
| 15. Depositories Act, 1996 | 2 |
| 16. SEBI (Depositories and Participants) Regulations, 2018 | 3 |
| 17. SEBI (RTA) Regulations, 2025 | 3 |
| 18. SEBI (Research Analyst) Regulations, 2014 | 2 |
| 19. SEBI (Investment Advisers) Regulations, 2013 | 2 |
| 20. SEBI (Debenture Trustees) Regulations, 1993 | 3 |
| 21. SEBI (Credit Rating Agencies) Regulations, 1999 | 3 |
| 22. SEBI (Custodian) Regulations, 1996 | 3 |
| 23. Proxy Advisors | 2 |
Timing
120 minutes for 100 questions is 72 seconds each. A question on a definition you know well takes far less than that, which leaves time for questions where you need to read every option carefully.
A practical approach is to go through the paper once answering everything you are sure of, mark the rest, and come back to them with the time you have saved.
Free account, this exam preselected.
What the pass mark means in practice
The pass mark is a net score, after deductions. Every wrong answer costs you the 1 mark you did not earn plus the 0.25 deducted. If you attempt all 100 questions you need 68 correct to reach 60: 68 marks minus 32 x 0.25 = 60.
Leaving a question blank costs nothing, but it also earns nothing. The trade off between guessing and leaving blanks is worked through on the negative marking page for this exam.
Check NISM before you book
These details follow NISM's exam page and the March 2026 workbook. NISM can change the pattern, fee or workbook version, so confirm on the exam page before you book a slot.
FAQs
How many questions are there in NISM Series III-A?expand_more
100 questions, each worth 1 mark.
What is the passing mark for NISM Series III-A?expand_more
60%, which is 60 out of 100 after negative marking is applied.
Is there negative marking in NISM Series III-A?expand_more
Yes. 25% of a question's marks is deducted for a wrong answer, which is 0.25 per question. Blank answers are not penalised.
How long is the NISM Series III-A exam?expand_more
120 minutes for 100 questions.
Access exam-specific mock tests directly from your Android device.Trusted by learners and rated 4.6★ on Google Play.