Examination Overview – NISM Series VIII: Equity Derivatives Certification
The examination seeks to create a common minimum knowledge benchmark for associated persons functioning as approved users and sales personnel of the trading member of an equity derivatives exchange or equity derivative segment of a recognized stock exchange.
The examination aims to enable a better understanding of various derivatives products available in equity derivatives markets, regulations and risks associated with the products and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the equity derivatives segment.
Examination Objectives
On successful completion of the examination, the candidate should be able to:
- Know the basics of the Indian equity derivatives market.
- Understand the various trading strategies that can be built using futures and options on both stocks and stock indices.
- Understand the clearing, settlement and risk management as well as the operational mechanism related to equity derivatives markets.
- Know the regulatory environment in which the equity derivatives markets operate in India.
Assessment Structure
| Component |
Details |
| Mode of Exam |
Online (Computer-Based Test) |
| Language Options |
English |
| Number of Questions |
100 |
| Type of Questions |
Multiple Choice Questions (MCQs) with 4 options |
| Total Marks |
100 |
| Marks per Question |
1 mark |
| Passing Criteria |
60% (You need at least 60 correct answers) |
| Negative Marking |
25% of the marks assigned to the question |
| Exam Duration |
2 Hours (120 Minutes) |
| Exam Fee |
₹1,500 (inclusive of GST) + payment gateway charges extra |
| Result Declaration |
Immediately after exam completion |
| Certificate Validity |
3 Years from the date of passing |
| PAN Requirement |
PAN must be updated in your profile to apply |
| Exam Delivery Modes |
At 150+ NISM test centers across India |
📚 Syllabus Outline with Weightages
| Unit No. |
Unit Name |
Weightage (%) |
| Unit 1 | Derivatives Fundamentals | 10 |
| Unit 2 | Basics of Index | 5 |
| Unit 3 | Forward (Introduction) | 20 |
| Unit 4 | Options (Introduction) | 20 |
| Unit 5 | Strategies for Option Trading | 10 |
| Unit 6 | Trading Systems Introduction | 10 |
| Unit 7 | Clearing Introduction | 10 |
| Unit 8 | Legal and Other Regulations | 5 |
| Unit 9 | Accounts and Tax | 5 |
| Unit 10 | Investor Protection Service and Sales Practices | 5 |
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