NISM Series XV: Frequently Asked Questions
Fee, validity, negative marking, re-attempts and renewal: the questions candidates actually ask.
The questions candidates ask most about NISM Series XV, answered in one line each where one line is honest.
The exam itself
What is the passing score for NISM Series XV?expand_more
60 out of 100 (60%). There is no sectional cut-off: the requirement is on the paper as a whole.
How long is the NISM Series XV exam?expand_more
2 hours (120 minutes) for a 100-mark objective, computer-based paper. The result appears on screen as soon as you submit.
Does NISM Series XV have negative marking?expand_more
Yes. 0.25 marks are deducted per incorrect answer. Confirm the current rule on your admit card before exam day.
What is the NISM Series XV exam fee?expand_more
₹1,500 plus applicable GST, payable online at booking. The fee applies per attempt.
How long is NISM Series XV valid?expand_more
3 years from the date of passing. To stay certified you either pass the exam again or complete the CPE programme before it expires.
When is the next NISM Series XV exam date?expand_more
There isn't one. NISM certification exams run on demand throughout the year, so you register, choose a test centre and pick your own slot, typically within a week or two.
More about Research Analyst
Who needs NISM Series XV?expand_more
All persons registered as Research Analysts with SEBI, or employed by a SEBI-registered RA entity, must hold NISM Series XV.
What is the passing score?expand_more
60 out of 100 marks.
How hard is NISM Series XV?expand_more
It is considered one of the harder NISM exams, with a pass rate of around 68%. The February 2026 syllabus makes it harder still: Technical Analysis and commodities research are new, and Technical Analysis alone now carries 15 of the 100 marks.
What changed in the 2026 NISM Series XV exam?expand_more
NISM revised the workbook to version February 2026, which applies to exams taken on or after 30 March 2026. The syllabus grew from 13 units to 15 chapters, adding Fundamental Analysis of Commodities and Technical Analysis. The paper is now 80 multiple choice questions plus 5 case studies of 4 questions each, for 100 marks in 2 hours, with 0.25 negative marking and a 60% pass mark.
Free account, this exam preselected.