NISM Series X-B Syllabus: Investment Adviser (Level 2)
All 5 chapters of the Investment Adviser (Level 2) workbook, with the weightage each carries in the exam.
The NISM Series X-B workbook is 5 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 5 chapters and their weightage
Weightage is the share of the 150-mark paper each chapter contributes.
01
Chapter
Advanced Portfolio Management
Weightage
20%
02
Chapter
Derivatives in Wealth Management
Weightage
20%
03
Chapter
Alternative Investments
Weightage
20%
04
Chapter
Estate and Succession Planning
Weightage
20%
05
Chapter
Advanced Regulatory and Ethics
Weightage
20%
| # | Chapter | Weightage |
|---|---|---|
| 01 | Advanced Portfolio Management | 20% |
| 02 | Derivatives in Wealth Management | 20% |
| 03 | Alternative Investments | 20% |
| 04 | Estate and Succession Planning | 20% |
| 05 | Advanced Regulatory and Ethics | 20% |
What each chapter covers
The workbook's own scope, chapter by chapter:
- 01. Advanced Portfolio Management (20%)
- Factor models, performance attribution, alpha generation, risk-adjusted returns
- 02. Derivatives in Wealth Management (20%)
- Using options for portfolio protection, structured products, hedging strategies
- 03. Alternative Investments (20%)
- PMS, AIFs, REITs, InvITs, international funds — suitability and risks
- 04. Estate and Succession Planning (20%)
- Wills, trusts, nomination, HUF, tax implications of inheritance
- 05. Advanced Regulatory and Ethics (20%)
- Conflict of interest, suitability, fee models, SEBI enforcement cases
Free account, this exam preselected.
Where the marks concentrate
The heaviest chapter here is Advanced Portfolio Management at 20%. With a pass mark of 90 out of 150 (60%) and no sectional minimum, scoring well on the top-weighted chapters gets you most of the way before the lighter ones are counted.