NISM Series VIII Syllabus: Equity Derivatives
All 9 chapters of the Equity Derivatives workbook, with the weightage each carries in the exam.
The NISM Series VIII workbook is 9 chapters long, and the exam draws from all of them. What varies is how much each one is worth. The weightage column below is the most useful thing on this page, because it tells you where revision time actually pays.
This page lists what each chapter covers. Marks, timing and the pass mark are on the exam pattern page.
All 9 chapters and their weightage
Weightage is the share of the 100-mark paper each chapter contributes.
01
Chapter
Introduction to Derivative Markets
Weightage
8%
02
Chapter
Understanding Interest Rates
Weightage
5%
03
Chapter
Futures Contracts
Weightage
20%
04
Chapter
Options Contracts
Weightage
25%
05
Chapter
Option Greeks
Weightage
12%
06
Chapter
Option Strategies
Weightage
10%
07
Chapter
Trading, Clearing and Settlement
Weightage
10%
08
Chapter
Regulatory Framework
Weightage
8%
09
Chapter
Accounting and Taxation
Weightage
2%
| # | Chapter | Weightage |
|---|---|---|
| 01 | Introduction to Derivative Markets | 8% |
| 02 | Understanding Interest Rates | 5% |
| 03 | Futures Contracts | 20% |
| 04 | Options Contracts | 25% |
| 05 | Option Greeks | 12% |
| 06 | Option Strategies | 10% |
| 07 | Trading, Clearing and Settlement | 10% |
| 08 | Regulatory Framework | 8% |
| 09 | Accounting and Taxation | 2% |
What each chapter covers
The workbook's own scope, chapter by chapter:
- 01. Introduction to Derivative Markets (8%)
- Basics of derivatives, market participants, forwards, futures, options, and swaps. History of derivatives in India.
- 02. Understanding Interest Rates (5%)
- Simple vs compound interest, present value, future value, yield to maturity, and their relevance to derivatives pricing.
- 03. Futures Contracts (20%)
- Futures pricing, cost of carry model, basis, convergence, hedging with futures, and margin requirements.
- 04. Options Contracts (25%)
- Call and put options, payoff diagrams, intrinsic and time value, put-call parity, option pricing models.
- 05. Option Greeks (12%)
- Delta, Gamma, Theta, Vega, Rho — understanding sensitivity measures for options portfolios.
- 06. Option Strategies (10%)
- Covered calls, protective puts, spreads (bull, bear, butterfly), straddles, strangles, and iron condors.
- 07. Trading, Clearing and Settlement (10%)
- Order types, trading mechanism, NSE clearing, NSCCL, daily MTM settlement, and final settlement.
- 08. Regulatory Framework (8%)
- SEBI Act, SC(R)A, SEBI circulars on derivatives, investor protection measures, code of conduct.
- 09. Accounting and Taxation (2%)
- Accounting treatment of derivatives in books of account, tax on derivatives income (speculative vs non-speculative).
Free account, this exam preselected.
Where the marks concentrate
The heaviest chapter here is Options Contracts at 25%. With a pass mark of 60 out of 100 (60%) and no sectional minimum, scoring well on the top-weighted chapters gets you most of the way before the lighter ones are counted.