Build a career as a NISM Series XV-B
The renewal exam for NISM Series XV holders — a refresher training video plus a one-hour, no-negative-marking assessment.
Know the NISM Series XV-B before you start
50 MCQs (1 mark each)
Total Questions
50
Total Marks
50% (25/50), no negative marking
Pass Mark
3 years
Certificate Validity
Roles & salary as you grow
The NISM Series XV-B opens an entry role that promotes upward: here's the ladder and what each rung pays.
Stage 1
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.
Stage 2
Research Analyst-firm employee (renewing)
N/A
Staff who prepare or publish research reports and must keep their own Series XV certification current.
*Indicative ranges from public data; actual pay varies by employer, city and cycle.
Are you eligible?
Education
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.
Age
No prescribed minimum age beyond what Series XV itself required.
Nationality
Same population as Series XV: registered Research Analysts and RA-firm staff preparing or publishing research, renewing ahead of their certificate's expiry.
How the NISM Series XV-B is structured
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
What you'll study
menu_book1. Introduction to Research Analyst Profession
menu_book2. Introduction to Securities Market
menu_book3. Terminology in Equity and Debt Markets
menu_book4. Fundamentals of Research
menu_book5. Economic Analysis
menu_book6. Industry Analysis
menu_book7. Company Analysis — Business and Governance
menu_book8. Company Analysis — Financial Analysis
menu_book9. Corporate Actions
menu_book10. Valuation Principles
menu_book11. Fundamental Analysis of Commodities
menu_book12. Fundamentals of Risk and Return
menu_book13. Qualities of a Good Research Report
menu_book14. Legal and Regulatory Environment
menu_book15. Technical Analysis
How to crack the NISM Series XV-B
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.
The NISM Series XV-B cycle
On-demand online, book any available proctored slot
3 years from the renewal date
Prep for NISM Series XV-B with PrepClever
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NISM Series XV-B: common questions
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.
More NISM Advisory & Distribution pathways
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NISM Series IX
The SEBI-mandated certification for employees of SEBI-registered merchant bankers handling IPOs, buybacks, takeovers and delistings.
NISM Series XXV-B
The SEBI-mandated certification for sales and support staff at Investment Adviser firms who don't give the advice themselves.