The exam builds a foundational understanding for professionals in the interest rate derivatives segment. It ensures clarity on fixed-income markets, derivative products, regulatory aspects, and the operational framework of clearing and settlement.
The exam also equips candidates with the skills required to participate in India’s interest rate derivatives market — including bond futures, options, trading strategies, and compliance with governing regulations.
Examination Objectives
After completing the exam, candidates will be able to:
Understand fixed-income and interest rate derivatives markets.
Apply strategies for bond futures and interest rate risk management.
Comprehend clearing, settlement, and risk control processes.
Familiarize with the Indian regulatory framework.
For more details, please visit the official website of
NISM.
Assessment Structure
The NISM-Series IV: Interest Rate Derivatives Certification Exam is structured as follows:
Component |
Details |
Examination Type | Multiple Choice Questions (MCQs) |
Number of Questions | 100 |
Maximum Marks | 100 |
Passing Score | 60% |
Negative Marking | 25% per incorrect answer |
Exam Duration | 2 hours |
Language | English |
Mode | Online (Computer-Based) |
Certificate Validity | 3 Years |
Test Centers | PAN India |
Syllabus Outline with Weightages
Unit No. |
Unit Name |
Weightage (%) |
1 | Intro to Interest Rate, Instruments & Fixed Income Markets | 10 |
2 | Interest Rate Derivatives | 5 |
3 | Exchange Traded IR Futures | 20 |
4 | Exchange Traded IR Options | 15 |
5 | Strategies Using IR Derivatives | 15 |
6 | Trading Mechanism | 10 |
7 | Clearing, Settlement & Risk Management | 10 |
8 | Regulatory Environment | 5 |
9 | Accounting & Taxation | 5 |
10 | Code of Conduct & Investor Protection | 5 |
500+ Focused Questions: Designed to match exam-level difficulty.
Aligned to the Latest Syllabus: Stay current and relevant.
15-Day Full Access: Flexibility to learn at your pace.
15 Test Attempts per Set: Track your improvement consistently.
All-Inclusive Pricing: Just ₹599 (incl. GST) – unmatched value!