Examination Overview - NISM Series I: Currency Derivatives Certification
The examination aims to establish a standardized baseline of minimum knowledge for individuals operating within the currency derivative segment. The goal is to enhance comprehension of currency markets and exchange-traded currency derivative products, ultimately leading to improved quality in investor service, operational process efficiency, and strengthened risk controls.
Examination Objectives
- Acquire a foundational understanding of currency markets, with a specific focus on Exchange Traded Currency Derivatives markets.
- Comprehend the trading, clearing, and settlement mechanisms associated with Exchange Traded Currency Derivatives markets. Additionally, gain knowledge of basic investment strategies utilizing currency futures and options products.
- Demonstrate knowledge of the regulatory environment governing exchange-traded currency Derivatives markets in India.
For more details, please visit the official website of
NISM.
Assessment Structure
| Exam Component |
Details |
| Total Marks |
100 |
| Number of Questions |
100 (1 mark each) |
| Exam Duration |
2 hours |
| Negative Marking |
25% per incorrect answer |
| Passing Score |
60% |
Other Details
Passing Certificate will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.
Syllabus Outline with Weightages
| Unit No. |
Unit Name |
Weightage (%) |
| 1 | Introduction to Currency Markets | 10 |
| 2 | Foreign Exchange Derivatives | 8 |
| 3 | Exchange Traded Currency Futures | 10 |
| 4 | Exchange Traded Currency Options | 10 |
| 5 | Strategies Using Currency Derivatives | 12 |
| 6 | Trading Mechanism | 10 |
| 7 | Clearing, Settlement & Risk Management | 10 |
| 8 | Regulatory Framework | 10 |
| 9 | Accounting and Taxation | 5 |
| 10 | Code of Conduct and Investor Protection | 5 |
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FAQs - NISM Currency Derivatives Mock Test
Finding a high-quality NISM Series I Currency Derivatives Mock Test is crucial for your preparation. While some free options exist, they often lack the depth and accuracy of the real exam. A reliable mock test, like the one offered at nismexams.in, should include a large question bank (we offer 800+ questions), cover the entire syllabus with correct weightages, and simulate the actual exam environment, including the 25% negative marking. This ensures you are practicing with material that truly prepares you for success.
The NISM Series I exam is a comprehensive test of your knowledge of currency markets. The structure is a 2-hour computer-based test with 100 multiple-choice questions, each carrying one mark. The passing score is 60%, and it's very important to remember there is a 25% negative marking for every incorrect answer. This pattern tests not just your knowledge but also your accuracy and time management skills.
Yes, it's always a good idea to try a NISM I Demo Test before committing to a full preparation package. A demo test gives you a feel for the question types and the online exam interface. While our main offering at nismexams.in is a premium, comprehensive package, a good demo test should give you a glimpse into the quality of questions you can expect in a full Currency Derivatives Practice Test.
While the entire syllabus is important, a smart strategy is to focus on the chapters with the highest weightage. For the NISM Series I exam, you should pay special attention to:
Strategies Using Currency Derivatives (12%)
Introduction to Currency Markets (10%)
Exchange Traded Currency Futures (10%)
Exchange Traded Currency Options (10%)
Trading Mechanism (10%)
Clearing, Settlement & Risk Management (10%)
Regulatory Framework (10%)
Mastering these will cover a significant portion of your exam.
A NISM I Mock Test is much more than just a list of questions. A proper mock test simulates the entire exam experience. It is timed for 2 hours, includes 100 questions structured according to the official syllabus weightages, and incorporates the 25% negative marking. A simple question bank doesn't prepare you for the pressure and time constraints of the real exam, which is why a realistic Currency Derivatives Model Test is essential.
While it might be theoretically possible, it is a very risky approach. Free materials are often outdated, inaccurate, or don't cover the full syllabus. For a professional certification with negative marking, relying on unverified resources can lead to failure and the additional cost of re-taking the exam. A structured course with a reliable NISM I Practice Test and expert-led video lectures is a much safer and more effective investment.
This is the most heavily weighted chapter (12%) and is extremely important. It covers practical, real-world applications of currency futures and options. You will learn about various hedging strategies (for importers, exporters, and borrowers), speculation strategies (like long/short positions), and arbitrage opportunities in the currency derivatives market. Our video lectures break down these complex strategies into easy-to-understand concepts.
The NISM Series I exam consists of 100 questions, with each question being worth one mark. To pass the certification, you must score a minimum of 60%, which means you need to get at least 60 marks after accounting for any negative marking.
Yes, you can find a complete Currency Derivatives Model Test as part of our comprehensive preparation package at nismexams.in. Our package is designed to give you a real exam feel with multiple full-length mock tests. Each test is crafted by experts to mirror the difficulty, format, and syllabus distribution of the actual NISM exam, ensuring you are thoroughly prepared.
The 25% negative marking means that for every incorrect answer, 0.25 marks will be deducted from your total score. In simple terms, for every four questions you get wrong, you lose one full mark that you earned from a correct answer. This rule is designed to discourage random guessing and makes it crucial to only answer questions you are reasonably confident about.
This certification is ideal for a wide range of individuals, including:
Students and professionals aspiring to work in foreign exchange and treasury departments.
Employees of stockbroking firms who deal with currency derivatives.
Traders and investors who want to understand and trade in the currency markets.
Anyone interested in building a career in the Indian securities market.
Our course at nismexams.in is perfectly designed for a focused 15-day preparation schedule. A good plan would be:
Days 1-7: Watch the Engaging Video Lectures to quickly understand all the core concepts.
Days 8-12: Start attempting the 800+ Exam-Focused Questions and take chapter-wise tests to solidify your knowledge.
Days 13-15: Use the Concise Short Notes for rapid revision and take full-length mock tests to simulate exam conditions.
Yes, absolutely. The syllabus gives equal importance to both. "Exchange Traded Currency Futures" and "Exchange Traded Currency Options" are two major chapters, each with a 10% weightage. You need to have a strong understanding of the mechanics, pricing, and application of both types of instruments.
The "Regulatory Framework" chapter (10% weightage) is crucial for understanding the rules of the market. It covers the roles of key regulators like the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). It also details the specific regulations related to participation, position limits, and reporting requirements for exchange-traded currency derivatives in India.
Our package is designed to help you build skill through repetition and evaluation. We offer 15 retakes per set, which gives you ample opportunity to practice, identify your weak areas, review your mistakes, and track your improvement over time. This extensive practice is key to building the confidence needed to pass.
While our concise short notes are excellent for quick revision, the video lectures serve a different purpose. They are designed to break down complex topics like hedging strategies or option pricing into simple, visual explanations. For many learners, watching an expert explain a concept is much more effective than reading about it, especially for the more challenging parts of the syllabus.
Once you pass the exam, the NISM Series I: Currency Derivatives Certification is valid for a period of three years. To keep your certification active after that, you will need to either re-take the exam or complete a Continuing Professional Education (CPE) program specified by NISM.
Yes, a good NISM I Practice Test must include numerical problems, as you can expect them in the actual exam. Our question bank includes practical, calculation-based questions related to topics like futures pricing, option payoffs, and margin calculations to ensure you are well-prepared for the quantitative aspects of the test.
A Currency Derivatives Demo Test is a short, free sample designed to give you a feel for the types of questions and the platform's interface. A full mock test, on the other hand, is a complete 100-question, 2-hour simulation of the actual exam, including the timer and negative marking. While a demo is good for a preview, only full mock tests can truly prepare you for the rigors of the exam.
This chapter has a significant 10% weightage because it covers the operational backbone of the derivatives market. It explains how trades are cleared, how profits and losses are settled daily (mark-to-market), and how the clearing corporation manages counterparty risk. A strong understanding of this is essential not just for the exam, but for anyone who wants to operate safely and effectively in the derivatives market.