The first step towards preparing yourself for any exam is by selecting and studying for the right exam. As a few exams may sound similar in nomenclature, be careful and select the correct examination as there is a possibility that you may get confused with the different exams carrying similar name. For example, people often get confused between Mutual Fund Distributors Exam and the RTA – Mutual Fund Exam; or between Depository Operations and Securities Operations & Risk Management. This short tutorial may therefore, help you select the right NISM exam.
While most of us in the Indian Securities Markets understand securities market participants in the form of job roles and designations, such as broker, trader, dealer, salesman, accountant, back-office personnel etc., SEBI has not mandated NISM Certification Exams based on such job roles or designations. Instead, these exams are mandated based on the functions carried out by the concerned person, such as, executing trades on behalf of clients by a trader, direct selling of mutual funds by salesperson, verification of KYC documents by back-office / operations personnel and so on. Therefore, a simple mapping is provided by PrepCafe to enumerate which exam is required to be undertaken by whom. Click NISM Certification Exams mapping with Job Roles to see the mapping.
Preparing for NISM Exam:
Once you have decided on which exam is the right one for you, you can obtain study material for studying for the exam. Study Material for NISM Certification Exam is available in following ways:
a. Soft Copy of any study material can be downloaded from NISM Exam Portal only after registration, booking seat for exam and making fee payment to NISM on its examination portal at certifications.nism.ac.in/nismaol
b. Hard Copy can be purchased online from the website www.psipl.net at Rs .150 plus shipping charges. Study material in hard copy form is delivered directly to your address.
Note: In case you are facing any difficulty in obtaining any study material, you can borrow from your colleagues or friends or seek from us
The study material for all NISM Certification Examinations is nothing but a workbook consisting of about 100 to 200 pages. You should necessarily read the complete book cover-to-cover at least once to understand the concepts; else you would find the exam difficult. Normally it takes 1-2 weeks to study the workbook completely at 2-3 hours a day of study time. If you are not able to understand any concept, you should refer a reference book or search for such concepts from the internet. It would be a risky proposition to appear for exam when most of your concepts are not clear to you, as most of the questions are conceptual.
All exams consist of multiple choice questions with only one correct answer. Some exams also consist of numerical type of questions for which calculators and excel sheets are allowed to be used during the exam. Most exams carry negative marks and therefore you should prepare really hard.
After you have completed studying the workbook, you can attempt a few mock exams and understand your level of preparation. If you comfortably pass the mock exams available on PrepCafe, you should pass the final exam in high probability.
Register Online and Enroll on NISM’s Certification Portal:
You will need to register yourself online on NISM’s Certification Portal (certifications.nism.ac.in/nismaol) and activate your login. If you are not well verse in using a computer, you can ask your friend or colleague to register yourself. You will need the following details during registration:
a. Permanent Account Number
b. Passport sized color photo in soft form
c. Personal Details
d. Mobile Number
f. Education Details
g. Employment Details
Please provide all correct information in the online registration form, as the same can be verified by NISM
After registration, select the Test Centre of your choice, date and time slot that is available at the Test Centre and book your seat by making online payment using credit card, debit card or net banking.
On the Day of the Exam:
Carry your PAN Card or any prescribed Identity Card alongwith the Admit Card. Also carry a photocopy of the identity proof. Ensure that your photograph is clear and legible on both your admit card and identity card, else you will be not allowed to sit for the exam. Complete all exam related formalities and enter the exam hall. The invigilator will guide you on how to start the exam on the PC assigned to you.
Questions will be asked one by one and start answering them as they are presented. If your exam carries negative marks, you should avoid marking answers which you are not sure of. At any cost, you should attempt at least 80 questions in the exam to increase your chances of passing. If your exam does not carry negative marks, you should necessarily attempt all questions in the question set. Result is provided immediately after you submit the exam. You can then collect your marksheet and leave the Test Centre.
Note: Don’t involve yourself into any sort of misconduct or cheating or try to impersonate yourself at the Test Centre, as it will only land you in trouble.
PrepCafe wishes you all the best for your exams!!