NISM Series V-A Exam Pattern
100 marks, 2 hours, negative marking: exactly how Series V-A is scored and passed.
NISM Series V-A is a single computer-based paper of 100 marks, taken in 2 hours at an NISM-authorised test centre. You get your result on submission: there is no waiting period and no separate results date.
This page covers only the mechanics: what the paper is worth, how long you get, what counts as a pass, and how long the certificate lasts. What the paper actually asks about is on the syllabus page.
The paper at a glance
| Item | Detail |
|---|---|
| Total marks | 100 |
| Duration | 2 hours (120 minutes) |
| Format | Objective, multiple choice, computer-based |
| Pass mark | 50 out of 100 (50%) |
| Negative marking | None: a wrong answer costs nothing |
| Result | Displayed immediately on submission |
| Certificate validity | 3 years from the date of passing |
| Registration fee | ₹1,500 plus applicable GST |
The 50% pass mark is the lowest in the NISM range
Most NISM certifications (Series VIII, X-A, X-B and XV among them) require 60%. Series V-A requires 50. That 10-point gap is the main reason V-A has a reported pass rate around 85% while the Investment Adviser papers sit nearer 55–60%. If V-A is your first NISM exam, this is the friendliest entry point in the set.
Free account, this exam preselected.
What the pass mark means in practice
Translating 50% into decisions you make during the paper:
- You need 50 marks
- Out of 100. There is no sectional cut-off and no minimum per chapter: a weak chapter can be carried by a strong one, unlike exams that require a minimum in every section.
- You can afford to be wrong about half the paper
- That is an unusually wide margin. It means the exam rewards broad familiarity across all six chapters more than mastery of any one of them.
- Chapters 2 and 3 alone are 40 marks
- Fund structure and distribution. Score well on those two and you are most of the way to the pass mark before the other four chapters are counted.
Re-attempts
There is no limit on how many times you can attempt Series V-A, and no waiting period imposed between attempts beyond the time it takes to book another slot. Each attempt is a fresh registration at the full fee: a failed attempt is not carried forward or discounted.