NISM Series IX Registration & Exam Dates
There is no annual Series IX exam date. Registration is continuous and you pick your own slot. Here is how it works.
There is no exam date for NISM Series IX. NISM runs the Merchant Banking Certification Examination on demand through the year. You create an account on NISM's certification portal, pick a test centre and a slot that suits you, 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 specific employees of SEBI-registered merchant bankers, listed below. Anyone else may take it; NISM states no educational qualification for registering.
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Who must hold the Series IX certificate
NISM's exam page lists the roles SEBI has mandated. The exam is for employees of SEBI-registered merchant bankers who:
- check_circleperform SEBI-regulated activities such as an initial public offer (IPO), a further public offer (FPO), an open offer, a buy-back or a delisting
- check_circledeal with issuers (the companies raising money) in connection with those activities
- check_circledeal with other intermediaries in connection with those activities
- check_circleact as the designated compliance officer for those activities
- check_circlesubmit due diligence certificates to SEBI in connection with those activities
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 IX page on NISM's website |
| Mode | Computer-based at a NISM test centre. Series IX 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 re-take the exam |
| Reschedule | On your own through the portal, up to four days before the scheduled date |
How to register, step by step
- 1
Open the registration portal
Use the 'Register for Certification Exam' link on NISM's Series IX 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 issues the passing certificate only to candidates whose PAN is on record, so add it now.
- 3
Choose NISM-Series-IX: Merchant Banking Certification Examination
Check the series code before paying.
- 4
Pick a test centre, date and time slot
Only slots with free seats appear. Four days before the exam is the last point at which you can move the slot yourself.
- 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.
- 6
Save the confirmation and carry ID
Keep the 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 IX exam date?
There is none to find. NISM has no annual or quarterly sitting for merchant banking. The date is whichever slot you book. Book when your timed practice is consistently above the pass mark, not before.
Validity and renewal through CPE or eCPE
A Series IX certificate runs for 3 years from the date of the examination. NISM's merchant banking CPE page says a holder whose certificate has not yet expired can revalidate it for three more years from the expiry date by completing the Series IX Continuing Professional Education (CPE) programme during the 12 months before expiry. CPE is a one-day 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 re-take the Series IX exam 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.
Two groups can get a first certificate through CPE instead of the exam: the Principal category (proprietors, partners, directors, whole-time directors and chief executives actively managing the intermediary's securities business) and the Grandfather category (those who had completed 50 years of age, or had 10 years of relevant experience, as on August 2, 2013). Everyone else sits the exam.
If you do not pass
After a failed attempt, log in to the same portal, book a fresh slot and pay the fee again. NISM's Series IX pages do not set out a rule on the number of attempts or the gap between them. The fee for the failed sitting is not refunded.
Series IX deducts 25% of a question's marks for a wrong answer, so a near miss is usually guessing on the regulation chapters. The exam-pattern page explains the arithmetic.
How the paper uses the word 'registration'
Do not confuse your exam registration with the merchant banker's registration. Chapter 3 of the syllabus covers how a merchant banker registers with SEBI, its code of conduct and its general obligations, and the paper asks MCQs on that. A question on 'registration requirements' means SEBI's conditions for the firm, never the NISM portal process on this page.
FAQs
What is the NISM Series IX registration fee?expand_more
₹1,500, payment gateway charges extra. That is how NISM's exam page states it; the page does not mention GST. The fee is paid online on NISM's certification portal when you book a slot.
Can I take the NISM merchant banking exam from home?expand_more
No. Series IX is a test-centre exam. NISM marks only a few modules as remote proctored, and merchant banking is not one of them. You choose a centre and a slot on the portal.
Is NISM Series IX mandatory, and for whom?expand_more
Yes, for employees of SEBI-registered merchant bankers who work on IPOs, FPOs, open offers, buy-backs or delisting, deal with issuers or intermediaries on those, act as the designated compliance officer for them, or submit due diligence certificates to SEBI. For everyone else it is voluntary.
Can a CA or a fresher register for NISM Series IX?expand_more
Yes. NISM states no degree, age or experience condition. Holding the certificate does not by itself make you a merchant banker; that is a SEBI registration granted to firms.
How long is the Series IX 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 Series IX CPE (one day, classroom) or eCPE (online), or by passing the exam again. Once the certificate has expired, only the exam route remains.
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