NISM Series XIX-E Category III AIF Managers: pattern, syllabus and eligibility
NISM Series XIX-E is the SEBI-specified certification for key investment team members of managers of Category III Alternative Investment Funds (AIFs), the hedge-fund and long-short category.
NISM-Series-XIX-E: Category III Alternative Investment Fund Managers Certification Examination is conducted by the National Institute of Securities Markets (NISM), the institute set up by SEBI. NISM Series XIX-E is the SEBI-specified certification for key investment team members of managers of Category III Alternative Investment Funds (AIFs), the hedge-fund and long-short category.
NISM Series XIX-E mock tests & question bank
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Eligibility Criteria
schoolEducation
NISM publishes no minimum educational qualification for this exam.
cakeAge Limit
No prescribed minimum age.
flagNationality
No nationality condition is published. A PAN is needed to receive the certificate.
Exam Pattern
NISM Series XIX-E is a computer-based multiple-choice exam of 100 marks in 120 minutes. The pass mark is 60%, and each wrong answer costs 25% of a question's marks. The certificate is valid for 3 years.
NISM Series XIX-E Certification Exam
Computer-based, multiple choice120 min| Section | Questions | Marks |
|---|---|---|
| Full paper (all chapters of the NISM workbook) | - | 100 |
Key Topics & Syllabus
AIF landscape
- check_circleTraditional versus alternative investments
- check_circleAIF categories in India
- check_circleSuitability of Category III AIFs
Fund structure and economics
- check_circleEcosystem: sponsor, manager, trustee, custodian
- check_circleStructuring options: trust, LLP, company
- check_circleManagement fees, hurdle rate and high-water mark
Investment strategies
- check_circleLong-only and long-short equity
- check_circleUse of derivatives and leverage limits
- check_circleArbitrage, quant and multi-strategy funds
Risk, valuation and performance
- check_circleMarket, liquidity and leverage risk
- check_circleValuation of listed and unlisted holdings
- check_circleReturn and risk-adjusted performance measures
Tax and regulation
- check_circleTaxation of Category III AIFs
- check_circleSEBI (AIF) Regulations, 2012
- check_circleReporting, disclosure and investor protection
How to Prepare
Register on the NISM certification portal
Create an account on NISM's certification portal and complete your profile with your PAN.
Select the exam and pay the fee
Choose NISM-Series-XIX-E: Category III Alternative Investment Fund Managers Certification Examination and pay ₹1,500 plus payment gateway charges online.
Book your test slot
Pick a test centre, date and time from the available slots.
Study the official workbook
NISM's workbook for the series is the syllabus. Download the current version from the NISM website.
Take and pass the exam
100 marks in 120 minutes. Score at least 60%.
Important Dates (Tentative)
| Event | Expected Date |
|---|---|
| Exam availability | On demand, year-round at NISM test centres |
| Certificate validity | 3 years from passing |
* Dates are indicative based on historical patterns. Check the official website for confirmed dates.
Prepare for NISM Series XIX-E the smarter way
NISM Series XIX-E practice is coming soon. Use the pattern and syllabus on this page to plan your study.
NISM Series XIX-E FAQ
Who needs NISM Series XIX-E?
NISM Series XIX-E is the SEBI-specified certification for key investment team members of managers of Category III Alternative Investment Funds (AIFs), the hedge-fund and long-short category.
What is the pass mark?
60%, which is 60 of 100 marks.
Is there negative marking?
Yes. Each wrong answer costs 25% of a question's marks.
What is the exam fee?
₹1,500 plus payment gateway charges, paid directly to NISM.
How long is the certificate valid?
3 years from the date of passing.
How is XIX-E different from XIX-D?
XIX-D is for managers of Category I and II AIFs (venture, private equity, private credit). XIX-E is for managers of Category III AIFs, which trade listed securities and derivatives and may use leverage.
Does PrepClever have NISM Series XIX-E mock tests?
Not yet. NISM Series XIX-E practice is coming soon. Until then, this page covers the pattern, syllabus and eligibility.
Ready to crack NISM Series XIX-E?
NISM Series XIX-E practice is coming soon. Until then, this page covers the pattern, syllabus and eligibility.