NISM Series III-A: Frequently Asked Questions
Fee, validity, negative marking, re-attempts and renewal: the questions candidates actually ask.
Short answers to common questions about NISM Series III-A, the Securities Intermediaries Compliance (Non-Fund) Certification Examination. The answers follow NISM's exam page and the March 2026 workbook.
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The exam
What is the NISM Series III-A exam pattern?expand_more
100 questions of 1 mark each, 100 marks in total, in 120 minutes.
What is the passing mark for NISM Series III-A?expand_more
60%, which is 60 out of 100, counted after negative marking.
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 wrong answer. Unanswered questions carry no penalty.
How much time do I get per question?expand_more
120 minutes for 100 questions is 72 seconds each.
How many chapters are in the Series III-A syllabus?expand_more
23, in two parts. Part A carries 56 marks and Part B carries 44. Chapter 2 carries the most, at 9 marks.
Is the NISM Series III-A exam online?expand_more
It is computer-based, booked through NISM's certification portal. The workbook refers to test centre workstations equipped with Microsoft Excel or LibreOffice.
Fee, registration and study material
What is the NISM Series III-A exam fee?expand_more
₹1,500 plus payment gateway charges.
What is the NISM Series III-A exam date?expand_more
There is no fixed date. You register on NISM's certification portal and book your own slot.
What if I fail NISM Series III-A?expand_more
You can register for another attempt on NISM's certification portal. Check the portal for the current re-booking rules and fee before you pick a date.
Which workbook should I study from?expand_more
The March 2026 version. NISM's note in it says it applies to candidates sitting the exam on or after April 30, 2026.
Does the workbook include practice questions?expand_more
Yes. Every chapter ends with review questions.
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Who needs it
Who should take NISM Series III-A?expand_more
Compliance officers and others in the compliance function at stock brokers, depository participants, merchant bankers, underwriters, bankers to the issue, debenture trustees and credit rating agencies.
What qualification do I need for Series III-A?expand_more
None. NISM publishes no minimum educational qualification for this exam.
Is Series III-A the same as Series III-C?expand_more
No. III-A is for compliance at non-fund intermediaries. III-C is for compliance at mutual funds, AIFs, REITs and InvITs.
Validity and renewal
How long is the NISM Series III-A certificate valid?expand_more
3 years.
How do I renew the Series III-A certificate?expand_more
Either pass the exam again or complete NISM's Continuing Professional Education programme before the certificate expires. It is then revalidated for another 3 years.
What is the pass rate for NISM Series III-A?expand_more
NISM has not published one.
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