NISM Series XII Securities Markets Foundation: pattern, syllabus and full mock tests
NISM Series XII is a voluntary, entry-level certification on how Indian securities markets work: securities, primary and secondary markets, mutual funds and derivatives.
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Access exam-specific mock tests directly from your Android device.Trusted by learners and rated 4.6★ on Google Play.NISM-Series-XII: Securities Markets Foundation Certification Examination is conducted by the National Institute of Securities Markets (NISM), the institute set up by SEBI. NISM Series XII is a voluntary, entry-level certification on how Indian securities markets work: securities, primary and secondary markets, mutual funds and derivatives.
Eligibility Criteria
schoolEducation
NISM publishes no minimum educational qualification for this exam.
cakeAge Limit
No prescribed minimum age.
flagNationality
No nationality condition is published.
Exam Pattern
NISM Series XII is a single computer-based exam of 100 questions for 100 marks, in 2 hours. The passing score is 60% (60 marks), with no negative marking. The certificate is valid for 3 years. Chapter weightages are from NISM's workbook, version March 2026.
NISM Series XII Certification Exam
Computer-based120 min| Section | Questions | Marks |
|---|---|---|
| Understanding Securities Markets and Performance | 10 | 10 |
| Securities: Types, Features and Concepts of Asset Allocation and Investing | 20 | 20 |
| Primary Markets | 20 | 20 |
| Secondary Markets | 20 | 20 |
| Mutual Funds | 20 | 20 |
| Derivatives Markets | 10 | 10 |
Key Topics & Syllabus
1. Understanding Securities Markets and Performance (10 marks)
- check_circleSecurities markets and securities
- check_circleStructure and participants of securities markets
- check_circleRole of securities markets
2. Securities: Types, Features and Concepts of Asset Allocation and Investing (20 marks)
- check_circleSecurities available in the market and the choice between equity and debt financing for issuers
- check_circleCharacteristics and role of equity capital
- check_circleCharacteristics and role of debt securities; choosing between debt and equity investment avenues
3. Primary Markets (20 marks)
- check_circlePrimary market: definition, functions and comparison with secondary markets
- check_circleIntermediaries in the primary market
- check_circleTypes of issues, issuers and investors
4. Secondary Markets (20 marks)
- check_circleRole and function of the secondary market and types of secondary markets for different securities
- check_circleMarket structure and participants
- check_circleBrokers and client acquisition
5. Mutual Funds (20 marks)
- check_circleMeaning and description of a mutual fund, and related terms and concepts
- check_circleTypes of open-ended mutual fund products
- check_circleTypes of closed-ended mutual fund schemes
6. Derivatives Markets (10 marks)
- check_circleDerivatives and underlying concepts
- check_circleTypes of derivative products
- check_circleStructure of derivative markets
Inside NISM Series XII Premium
Full-length mock tests
Timed 120-minute papers in the NISM XII pattern, scored against the 60% pass mark.
Chapter-wise question bank
Practise each of the 6 workbook chapters as a separate drill.
AI study plan
Tells you which chapter to drill next, based on where you're losing marks.
Every answer explained
A worked explanation on every question, so a wrong answer becomes a fixed gap.
How to Prepare
Register on the NISM certification portal
Create an account on NISM's certification portal and complete your profile.
Select the exam and pay the fee
Choose NISM-Series-XII: Securities Markets Foundation Certification Examination and pay ₹1,003 inclusive of tax, plus payment gateway charges online.
Book your test slot
Schedule the exam on any available date.
Study the official workbook
NISM's workbook (version March 2026) is the syllabus, and its weightage table sets the paper.
Take and pass the exam
100 questions in 2 hours. Score at least 60%.
Important Dates (Tentative)
| Event | Expected Date |
|---|---|
| Certificate validity | 3 years from passing |
* Dates are indicative based on historical patterns. Check the official website for confirmed dates.
Prepare for NISM Series XII the smarter way
Free mock tests, chapter-wise practice questions and a personalized study plan, built around the latest NISM Series XII pattern.
NISM Series XII guides
- SyllabusFull NISM Series XII (Securities Markets Foundation) syllabus: all 6 chapters with exam weightage, plus free practice on the current workbook.
- Exam PatternNISM Series XII exam pattern: 100 marks in 2 hours, no negative marking, pass at 60 out of 100 (60%). Verify with NISM.
- EligibilityWho must hold NISM Series XII (Securities Markets Foundation), who can take it, and what SEBI actually requires. There is no minimum qualification, so here is the real answer.
- Registration & DatesHow to register for NISM Series XII: there are no fixed exam dates, so you book your own slot. Fee ₹1,003, 3-year validity, re-attempt rules.
- Study MaterialNISM Series XII study material reviewed honestly: the official workbook, what it does and doesn't cover, and what to add. Free practice included.
- PreparationA realistic NISM Series XII study plan: how long it takes and chapter order by weightage. No pass rate has been published yet for this certification.
- FAQsCommon NISM Series XII questions answered: fee ₹1,003, 3-year validity, no negative marking, re-attempts and CPE renewal.
- Formula SheetThe 10 formulas NISM Series XII questions use most: total return, dividend yield, EPS, P/E, market cap and NAV. With a worked example.
NISM Series XII FAQ
Is NISM 12 the same as NISM Series XII?
Yes. NISM 12 and NISM Series XII are the same Securities Markets Foundation certification exam.
Who needs NISM Series XII?
NISM Series XII is a voluntary, entry-level certification on how Indian securities markets work: securities, primary and secondary markets, mutual funds and derivatives.
What is the passing mark?
60%, that is 60 marks out of 100.
Is there negative marking?
No. A wrong answer costs nothing, so attempt every question.
What is the exam fee?
₹1,003 inclusive of tax, plus payment gateway charges, paid directly to NISM.
How long is the certificate valid?
3 years.
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