NISM Series VI Exam Pattern
100 marks, 2 hours, negative marking: exactly how Series VI is scored and passed.
NISM Series VI is a single paper of 100 multiple choice questions, each worth 1 mark, to be finished in 120 minutes. You pass with 60 marks, which is 60%. A wrong answer costs a quarter of a mark. The exam is computer-based, at a test centre you book on NISM's certification portal, and the result is shown on screen when you submit.
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Series VI at a glance
| Item | Detail |
|---|---|
| Questions | 100 multiple choice questions |
| Marks per question | 1 |
| Total marks | 100 |
| Duration | 120 minutes (2 hours) |
| Pass mark | 60 marks (60%) |
| Negative marking | 25% of a question's marks: 0.25 per wrong answer |
| Unanswered question | 0, no deduction |
| Mode | Computer-based, at a test centre you book on NISM's certification portal |
| Result | Shown on submission |
| Fee | ₹1,500 plus payment gateway charges |
| Certificate validity | 3 years |
How the score is worked out
Your score is the number of correct answers minus 0.25 for each wrong answer. Blanks score zero. So 70 correct, 20 wrong and 10 blank gives 70 minus 5, which is 65: a pass. 62 correct and 38 wrong gives 62 minus 9.5, which is 52.5: a fail, even though 62 answers were right.
The pass mark applies to the whole paper. The workbook states no minimum score per chapter.
Time per question
120 minutes for 100 questions is 72 seconds each. Most of the syllabus is rules and procedure, so a prepared candidate should have time for a second pass over flagged questions.
Free account, this exam preselected.
How the 100 marks are spread
Weightage from the workbook's syllabus outline. With 1 mark per question, weightage equals marks.
Market and depository basics
Chapters
1, 2
Marks
15
Depository's business partners
Chapters
3
Marks
12
DP functions: account opening and operations
Chapters
4, 5
Marks
15
DP functions: transmission, nomination, dematerialisation
Chapters
6, 7
Marks
14
DP functions: trading and settlement
Chapters
8
Marks
13
Special services: pledge, corporate actions, debt and G-Secs
Chapters
9, 10, 11
Marks
27
FPIs and investor services
Chapters
12, 13
Marks
4
Total
Chapters
1 to 13
Marks
100
| Chapter group | Chapters | Marks |
|---|---|---|
| Market and depository basics | 1, 2 | 15 |
| Depository's business partners | 3 | 12 |
| DP functions: account opening and operations | 4, 5 | 15 |
| DP functions: transmission, nomination, dematerialisation | 6, 7 | 14 |
| DP functions: trading and settlement | 8 | 13 |
| Special services: pledge, corporate actions, debt and G-Secs | 9, 10, 11 | 27 |
| FPIs and investor services | 12, 13 | 4 |
| Total | 1 to 13 | 100 |
Question styles to expect
The workbook's examination structure says the paper covers depository basics, DP services, account opening and maintenance, and the regulatory framework. In practice that means questions like these:
- check_circleDirect facts: which body does what, which form starts which process
- check_circleSequence: what happens first, next and last in dematerialisation, transmission or pledge
- check_circleResponsibility: whether the DP, the depository, the RTA or the clearing corporation acts at a given step
- check_circleShort scenarios: a client asks for something, and you choose what the DP should do
- check_circleDefinitions: the meaning of terms such as ISIN, BSDA, NDU, record date and book closure
What the pattern means for you
Three things follow from these numbers. First, 60% is a real bar: with negative marking on, you need at least 68 correct if you attempt every question. Second, the weightage is uneven, so your study time should be too: chapters 8, 3, 4, 2, 9 and 11 together carry 67 marks. Third, the time limit is generous for a recall paper, so careful reading matters more than speed.
The workbook also notes that its sample questions are for reference only and that the actual exam's difficulty may differ.
Confirm before you book
These details are from the March 2026 workbook and NISM's Series VI exam page. NISM can change the pattern when it revises the workbook. Check the exam page before you book a slot.
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