NISM Series XV-B: pattern, syllabus and full mock tests
The renewal exam for NISM Series XV holders — a refresher training video plus a one-hour, no-negative-marking assessment.
- Full-length mocks on the exact NISM Series XV-B pattern, not generic MCQ sets
- Practice on the real exam interface, negative marking included
- See your weak & strong areas by chapter after every mock
- A readiness score that tells you when you're actually ready to book the exam
You save ₹400 today
- Full Series XV question bank
- 20 full-length practice tests
- Chapter-wise revision
One payment, no subscription · Valid for 1 month
NISM-Series-XV-B is NOT a new Research Analyst certification — it is how an existing NISM Series XV (Research Analyst) certificate holder renews before their 3-year validity expires. Candidates first complete roughly 2-3 hours of NISM's pre-recorded refresher training, then sit a 60-minute, 50-question online assessment, both delivered under continuous webcam and microphone proctoring. There is no negative marking and the pass bar is 50%.
Eligibility Criteria
schoolEducation
Exclusively for candidates who already hold a valid NISM-Series-XV: Research Analyst Certification. This is not open to new entrants — first-time candidates need Series XV, not XV-B.
cakeAge Limit
No prescribed minimum age beyond what Series XV itself required.
flagNationality
Same population as Series XV: registered Research Analysts and RA-firm staff preparing or publishing research, renewing ahead of their certificate's expiry.
Exam Pattern
Two components, both online and proctored: roughly 2-3 hours of NISM's pre-recorded refresher training, followed by a 60-minute, 50-question assessment (1 mark each, 50 marks total). The pass mark is 50% (25 marks) and there is no negative marking — a lighter bar than the original Series XV exam's 60% with 0.25 negative marking. The assessment is a single combined paper; NISM does not publish a per-chapter marks split for it.
NISM Series XV-B Renewal Assessment
Online, remotely proctored (webcam + microphone throughout)60 min| Section | Questions | Marks |
|---|---|---|
| Research Analyst refresher: all chapters | 50 | 50 |
Key Topics & Syllabus
1. Introduction to Research Analyst Profession
- check_circlePrimary role and responsibilities of a Research Analyst
- check_circlePrinciples of interaction with companies and clients
- check_circleQualities of a Research Analyst
2. Introduction to Securities Market
- check_circleSecurities and market structure
- check_circleProduct definitions and terminology
- check_circleMarket participants and their activities
3. Terminology in Equity and Debt Markets
- check_circleEquity market terminology
- check_circleDebt market terminology
- check_circleTypes of bonds
4. Fundamentals of Research
- check_circleRole of research in investment activity
- check_circleTechnical and fundamental analysis
- check_circleBehavioural approach to equity investing
5. Economic Analysis
- check_circleMicro and macroeconomic principles
- check_circleMacroeconomic variables
- check_circleRole of economic analysis in fundamental analysis
6. Industry Analysis
- check_circleDefining the industry
- check_circleIndustry cyclicality
- check_circleRole of industry analysis in fundamental research
7. Company Analysis — Business and Governance
- check_circleUnderstanding business models
- check_circlePricing power and its sustainability
- check_circleCorporate governance
8. Company Analysis — Financial Analysis
- check_circleFinancial statements: standalone and consolidated
- check_circleBalance sheet analysis
- check_circleCash flow and profitability
9. Corporate Actions
- check_circlePhilosophy of corporate actions
- check_circleDividends
- check_circleRights issues
10. Valuation Principles
- check_circlePrice vs value
- check_circleWhy valuations are required
- check_circleSources of value: earnings and assets
11. Fundamental Analysis of Commodities
- check_circleSupply-demand dynamics
- check_circleMajor producers and consumers
- check_circleCurrency and dollar index impact
12. Fundamentals of Risk and Return
- check_circleReturn calculation: simple, annualised, compounded
- check_circleRisks in investments
13. Qualities of a Good Research Report
- check_circleWhat makes a research report credible
- check_circleChecklist-based approach to research reports
14. Legal and Regulatory Environment
- check_circleRegulatory infrastructure in financial markets
- check_circleKey SEBI regulations
- check_circleCode of Conduct for Research Analysts
15. Technical Analysis
- check_circleChart types and the Dow Theory
- check_circleChart patterns: reversal and consolidation
- check_circleSupport, resistance, trendlines and indicators
Inside NISM Series XV-B Premium
Full Series XV question bank
The same question bank behind the original Series XV certification, mapped across all 15 renewal-syllabus chapters.
20 full-length practice tests
Timed 50-question papers scored against the real 25/50 pass mark, with no negative marking - the exact renewal format.
Chapter-wise revision
Drill any of the 15 chapters on its own before the refresher video, or after it to confirm what stuck.
Every answer explained
A worked explanation on every question, so a wrong answer becomes a fixed gap instead of a repeated one.
Career Roles & Salary
SEBI-registered Research Analyst (renewing)
N/A — this exam renews an existing role, it does not start one
Keeps an existing Research Analyst registration compliant past its 3-year NISM certificate validity.
Research Analyst-firm employee (renewing)
N/A
Staff who prepare or publish research reports and must keep their own Series XV certification current.
Full mock tests for NISM Series XV-B
Everything above is free. When you're ready for unlimited full-length mocks, complete question banks and answer explanations, unlock NISM Series XV-B Premium.
A lapsed Series XV certificate means you can't register or publish research until you pass the renewal - plus a fresh ₹2,500 NISM renewal fee and a new slot booking. Premium costs ₹499, once.
You save ₹400 today
- Full Series XV question bank
- 20 full-length practice tests
- Chapter-wise revision
One payment, no subscription · Valid for 1 month
How to Prepare
Confirm your Series XV certificate is due for renewal
XV-B is only for existing Series XV holders — check your certificate's 3-year expiry date on the NISM certifications portal.
Register for the Series XV-B renewal exam
Register at certifications.nism.ac.in and pay the renewal fee of ₹2,500 + GST online.
Complete the pre-recorded refresher training
Watch NISM's roughly 2-3 hours of refresher video content, covering the same 15 chapters as the original Series XV syllabus.
Sit the proctored assessment
60 minutes, 50 questions, no negative marking, under continuous webcam and microphone proctoring. Score at least 25/50 (50%) to pass.
Certificate renewed for 3 more years
On passing, your Research Analyst certification validity extends another 3 years from the renewal date.
Important Dates (Tentative)
| Event | Expected Date |
|---|---|
| Exam scheduling | On-demand online, book any available proctored slot |
| Certificate validity | 3 years from the renewal date |
* Dates are indicative based on historical patterns. Check the official website for confirmed dates.
Prepare for NISM Series XV-B the smarter way
Free mock tests, chapter-wise practice questions and a personalized study plan, built around the latest NISM Series XV-B pattern.
NISM Series XV-B FAQ
Is NISM Series XV-B a new certification?
No. It is the renewal exam for an existing NISM Series XV (Research Analyst) certificate holder, not a standalone qualification a new entrant can take.
What is the exam pattern for Series XV-B?
50 multiple-choice questions, 1 mark each, 50 marks total, in 60 minutes. The pass mark is 50% (25 marks) and there is no negative marking — before the assessment, candidates must also complete roughly 2-3 hours of NISM's pre-recorded refresher training.
Is there negative marking in Series XV-B?
No. Unlike the original Series XV exam (which carries 0.25 negative marking per wrong answer), the renewal assessment has none.
What is the exam fee for Series XV-B?
₹2,500 plus GST and applicable payment gateway charges.
Does PrepClever have XV-B-specific mock tests?
PrepClever's XV-B question bank and practice tests draw on the same 15-chapter Research Analyst syllabus the renewal training refreshes — useful revision for the assessment, though NISM's own renewal exam is a single unweighted paper rather than a chapter-wise test.
How long does the renewed certificate stay valid?
3 years from the date you pass the renewal exam, same as the original certificate's validity period.
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