NISM Series IV Registration & Exam Dates
There is no annual Series IV exam date. Registration is continuous and you pick your own slot. Here is how it works.
There is no exam date for NISM Series IV. NISM runs the Interest Rate Derivatives Certification Examination on demand through the year. You create an account on NISM's certification portal, pick a test centre, a date and a time slot, pay the fee and sit the paper on that day. The fee is ₹1,500, payment gateway charges extra, as NISM words it.
The certificate is valid for 3 years. SEBI requires it for approved users and sales personnel of trading members who trade interest rate derivatives on an exchange. Anyone else may take it voluntarily.
Who must hold the Series IV certificate
NISM's Interest Rate Derivatives CPE page, citing SEBI's notification of 29 June 2010, names the roles. The certificate is the required standard for:
- check_circleapproved users of trading members registered in the Currency Derivatives Segment of a recognised stock exchange and trading in interest rate derivatives (an approved user is a person the exchange has authorised to operate the member's trading terminal)
- check_circlesales personnel of those same trading members, for the interest rate derivatives business
- check_circlenobody else. Bank treasury staff, fund managers and students may take the exam, but SEBI does not require them to
Registration facts at a glance
| Item | Detail |
|---|---|
| Fee | ₹1,500, payment gateway charges extra (NISM's wording; the exam page says nothing about GST) |
| Exam date | None. On-demand slots, booked by you |
| Where to register | NISM's certification portal, linked from the Series IV page on NISM's website as 'Register for Certification Exam' |
| Mode | Computer-based at a NISM test centre. Series IV is not a remote-proctored exam |
| PAN | Must be entered or updated in your registration details, or no passing certificate is issued |
| Validity | 3 years from the date of the examination |
| Renewal | CPE or eCPE in the 12 months before expiry, or pass the exam again before expiry |
| Reschedule | On your own through the portal, up to four days before the scheduled date, at most twice |
How to register, step by step
- 1
Open the registration portal
Use the 'Register for Certification Exam' link on NISM's Series IV page. One portal account covers every NISM exam, so reuse yours if you hold another series.
- 2
Create or update your candidate profile
Enter your name exactly as on your identity proof, and your PAN. NISM's exam page says a passing certificate is issued only to candidates who have furnished or updated their PAN in their registration details.
- 3
Choose NISM-Series-IV: Interest Rate Derivatives Certification Examination
The portal lists every module. Check the series code before paying: NISM does not allow a change of module after enrolment.
- 4
Pick a test centre, date and time slot
Four days before the exam is the last point at which you can move the slot yourself, and NISM allows at most two reschedules.
- 5
Pay online
₹1,500 plus the payment gateway's own charge. If your card is debited but the enrolment fails, or you are charged twice, NISM refunds the exam fee; it does not refund the gateway charge. A no-show forfeits the whole fee.
- 6
Carry the confirmation and your ID on the day
Keep the booking confirmation and carry the identity proof the portal names. Reporting time and conduct rules are in NISM's candidate instructions.
Free account, this exam preselected.
Searching for the Series IV exam date?
There is none to find. NISM has no annual or quarterly sitting for interest rate derivatives. The date is whichever slot you book. Book once your timed practice is consistently above the pass mark, not before.
Validity and renewal through CPE or eCPE
A Series IV certificate runs for 3 years from the date of the examination. NISM's Interest Rate Derivatives CPE page, citing SEBI's notification of 29 June 2010, says a holder can revalidate the certificate for three more years from its expiry date by completing the one-day Interest Rate Derivatives Continuing Professional Education (CPE) programme during the 12 months before expiry. CPE is a classroom programme of about six hours with a test at the end. eCPE is the online version: pre-recorded sessions of three to five hours plus an evaluation test, taken on a laptop or desktop with a webcam.
The other route is to pass the Series IV exam again before the old certificate expires. Let it lapse and the CPE door closes: NISM's page says a person whose certificate has expired must pass the exam again to get a new one.
If you do not pass
A failed attempt does not block you: log in to the same portal and book a fresh slot. The fee paid for the sitting you failed is not refunded.
Series IV deducts 25% of a question's marks for a wrong answer, so careless guessing can turn a pass into a near miss. The exam-pattern page explains the arithmetic.
FAQs
What is the NISM Series IV registration fee?expand_more
₹1,500, payment gateway charges extra. NISM's exam page says nothing about GST. The fee is paid online on NISM's certification portal when you book a slot.
Can I take the NISM interest rate derivatives exam from home?expand_more
No. Series IV is a test-centre exam. NISM marks only a few modules as remote proctored, and interest rate derivatives is not one of them.
Is NISM Series IV mandatory, and for whom?expand_more
Yes, for approved users and sales personnel of trading members registered in the currency derivatives segment of a recognised stock exchange who trade interest rate derivatives. For everyone else it is voluntary. NISM lists Series XIII, the combined derivatives paper, as the standard for the same currency derivatives segment roles, so holders of XIII do not normally need IV as well; confirm with your compliance team.
How many times can I give the NISM Series IV exam?expand_more
Each re-attempt is a fresh booking on the same portal, made the same way as the first. Check the portal for any current condition when you re-book.
How long is the Series IV certificate valid, and how do I renew it?expand_more
3 years from the date of the examination. Renew in the 12 months before expiry by completing the Interest Rate Derivatives CPE (one day, classroom) or eCPE (online), or by passing the exam again. Once the certificate has expired, only the exam route remains.
Next steps
Create a free accountStart now, before you pay NISM ₹1,500.