NISM Series VII: Frequently Asked Questions
Fee, validity, negative marking, re-attempts and renewal: the questions candidates actually ask.
Short answers to common questions about NISM Series VII, the Securities Operations and Risk Management (SORM) Certification Examination. The answers follow NISM's exam page and the July 2026 workbook.
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The exam
What is the NISM Series VII exam pattern?expand_more
100 multiple choice questions of 1 mark each, 100 marks in total, in 120 minutes.
What is the passing mark for NISM Series VII?expand_more
50%, which is 50 out of 100, counted after negative marking.
Is there negative marking in NISM Series VII?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 VII syllabus?expand_more
8. Chapter 3 carries the most weight at 20%; chapters 4, 5 and 6 carry 15% each.
Is the NISM Series VII exam online?expand_more
It is computer-based. You book your slot, and the centre where NISM lists one, on NISM's certification portal.
When will I know my result?expand_more
The result is shown when you submit the exam.
Fee, registration and study material
What is the NISM Series VII exam fee?expand_more
₹1,500 plus payment gateway charges.
What is the NISM Series VII exam date?expand_more
There is no fixed date. You register on NISM's certification portal and book your own slot.
Do I need PAN for the Series VII certificate?expand_more
Yes. NISM needs PAN to issue the certificate.
What if I fail NISM Series VII?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 July 2026 version. NISM's note in it says it applies to candidates sitting the exam on or after September 15, 2026.
Does the workbook include practice questions?expand_more
Yes. Every chapter ends with sample questions.
Free account, this exam preselected.
Who needs it
Who should take NISM Series VII?expand_more
Associated persons of a stock broker, trading member or clearing member who handle client assets or funds, investor grievances, internal control or risk management, or activities with a bearing on operational risk.
What qualification do I need for Series VII?expand_more
None. NISM publishes no minimum educational qualification for this exam.
Is Series VII the same as Series VI?expand_more
No. Series VI covers depository operations at a depository participant. Series VII covers a stock broker's operations, risk management, clearing and settlement.
Validity and renewal
How long is the NISM Series VII certificate valid?expand_more
3 years.
How do I renew the Series VII certificate?expand_more
Either take the exam again or complete NISM's Continuing Professional Education programme before the certificate expires. Check NISM's CPE options for Series VII for the current formats.
What is the pass rate for NISM Series VII?expand_more
NISM has not published one.
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