The National Institute of Securities Markets (NISM) is an educational initiative established by the Securities and Exchange Board of India (SEBI). It aims to enhance the quality of intermediaries in securities markets and promote financial literacy. Here are the key aspects of NISM:

Overview

  • Establishment: NISM was established in 2006 by SEBI to address the needs for securities market education.
  • Location: The institute's main campus is located in Patalganga, near Mumbai, Maharashtra, India.

Objectives

  • Training and Certifications: NISM provides training programs and certifications for professionals working in the securities market. These certifications are often mandatory for specific roles within the financial sector.
  • Research: The institute conducts research in the areas of securities markets, which helps in the development of new products and regulations.
  • Financial Literacy: NISM promotes financial literacy among various segments of society, including students, investors, and the general public.
  • Education: It offers postgraduate programs and courses related to securities markets and financial education.

Key Certifications

NISM certifications are highly regarded and often required for professionals in the Indian securities market. Some of the notable certifications include:

  • NISM-Series-I: Currency Derivatives Certification Examination
  • NISM-Series-VIII: Equity Derivatives Certification Examination
  • NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination
  • NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination

EVS - Primary Section

This course is for EVS - Primary section

NISM-Series-XV: Research Analyst Certification Examination

NISM XV refers to the NISM-Series-XV: Research Analyst Certification Examination. This certification is designed for individuals working as research analysts, focusing on equity research and related areas. It ensures that these professionals possess the necessary knowledge and skills to perform their roles effectively and ethically.

Key Aspects of NISM XV:

Purpose:

  • Regulatory Requirement: This certification is mandated by the Securities and Exchange Board of India (SEBI) for anyone who wishes to work as a research analyst.
  • Professional Credibility: It ensures that research analysts are well-versed in market analysis, financial statements, valuation techniques, and ethical standards.

Exam Structure:

  • Duration: The exam typically lasts 2 hours.
  • Format: It consists of multiple-choice questions.
  • Passing Marks: The passing score is usually 60%.
  • Content: The syllabus covers a wide range of topics related to research analysis.

Syllabus:

  1. Introduction to Research Analyst Profession:
    • Roles, responsibilities, and regulatory requirements.
  2. Introduction to Securities Market:
    • Overview of primary and secondary markets.
  3. Fundamentals of Research:
    • Qualitative and quantitative research, data collection, and analysis.
  4. Economics and Industry Analysis:
    • Economic indicators, industry life cycle, and analysis techniques.
  5. Company Analysis:
    • Financial statement analysis, ratio analysis, and financial modeling.
  6. Valuation Principles and Techniques:
    • Different valuation methods including DCF, relative valuation, and asset-based valuation.
  7. Equity Research in Practice:
    • Research reports, forecasting, and recommendations.
  8. Legal and Regulatory Environment:
    • SEBI regulations and guidelines for research analysts.
  9. Ethics and Professional Standards:
    • Ethical considerations, professional conduct, and avoiding conflicts of interest.

Importance:

  • Compliance: Ensures compliance with SEBI regulations for research analysts.
  • Skill Enhancement: Enhances the analytical skills and market understanding of professionals.
  • Ethical Standards: Promotes high ethical standards in market research and analysis.

Obtaining the Certification:

  1. Preparation:
    • Study the official NISM workbook for the XV certification, which can be purchased from the NISM website.
    • Attend training programs or coaching classes if needed.
  2. Register for the Exam:
    • Register online through the NISM Certification Portal.
  3. Take the Exam:
    • Appear for the exam at a designated test center.
  4. Certification:
    • Upon passing the exam, you will receive the NISM XV certification, which is valid for a specified period (usually three years).

Additional Resources

For more detailed information, you can visit the official NISM website and explore the section dedicated to the NISM-Series-XV: Research Analyst Certification Examination.

This certification is crucial for maintaining the integrity and quality of research analysis in the securities market, ensuring that analysts adhere to the highest standards of professionalism and ethics

NISM-Series-V-A: Mutual Fund Distributors Certification Examination

NISM VA refers to the NISM-Series-V-A: Mutual Fund Distributors Certification Examination. This certification is one of the many offered by the National Institute of Securities Markets (NISM) and is specifically designed for professionals involved in the distribution of mutual funds in India.

Key Aspects of NISM VA:

Purpose:

  • The NISM VA certification aims to ensure that mutual fund distributors possess the necessary knowledge and understanding of mutual funds and the mutual fund industry.
  • It equips them with the skills required to offer sound advice to investors and comply with regulatory requirements.

Exam Structure:

  • Duration: The exam typically lasts 2 hours.
  • Format: It consists of multiple-choice questions.
  • Passing Marks: The passing score is usually around 50% or higher, but it can vary slightly.
  • Content: The syllabus covers various aspects of mutual funds, including the structure, regulatory environment, fund management, distribution, and evaluation of schemes.

Syllabus:

  1. Basics of Mutual Funds:
    • Definition, history, and types of mutual funds.
  2. Fund Structure and Constituents:
    • Understanding the roles of asset management companies (AMCs), trustees, custodians, and transfer agents.
  3. Legal and Regulatory Framework:
    • Overview of SEBI regulations and guidelines.
  4. Scheme Evaluation:
    • Techniques for evaluating different mutual fund schemes and understanding key performance indicators.
  5. Fund Distribution and Sales Practices:
    • Ethical selling practices, investor rights, and grievance redressal mechanisms.
  6. Investor Services:
    • Understanding the process of transactions, including KYC, SIP, redemption, and switching.

Importance:

  • Regulatory Compliance: SEBI mandates that mutual fund distributors obtain this certification to ensure they are qualified to advise and sell mutual fund products.
  • Professional Credibility: Holding this certification enhances the credibility and trustworthiness of mutual fund distributors.
  • Knowledge and Skills: The certification ensures that distributors have a solid understanding of mutual funds and can provide informed advice to their clients.

Obtaining the Certification:

  1. Preparation:
    • Study the official NISM workbook for the VA certification, which can be purchased from the NISM website.
    • Attend training programs or coaching classes if needed.
  2. Register for the Exam:
    • Register online through the NISM Certification Portal.
  3. Take the Exam:
    • Appear for the exam at a designated test center.
  4. Certification:
    • Upon passing the exam, you will receive the NISM VA certification, which is valid for a specified period (usually three years).

For more detailed information, you can visit the NISM website.