Investment Adviser Level-2 Certification

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NISM Series X-A: Investment Adviser (Level 1) Mock Test

  • Master the NISM Series X-A: Investment Adviser (Level 1) Certification Exam effortlessly with our comprehensive package!
    1. 475 Exam-Focused Questions: Gain confidence with a vast question bank covering all key topics.
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Examination Overview -NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination


Revised Launch Date: Effective from March 28, 2025


Purpose


The NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination seeks to create a common minimum knowledge benchmark for:

  • Individual Investment Advisers
  • Principal Officers of Non-Individual Investment Advisers
  • Persons associated with investment advice

As per the SEBI (Investment Advisers) Regulations, 2013, it is mandatory to clear both:

  • Level 1: NISM-Series-X-A
  • Level 2: NISM-Series-X-B

The certification aims to enhance the quality of investment advisory services in the financial services industry.


Examination Objectives


On successful completion of the examination, a candidate should be able to:

  • Understand the basics of personal financial planning, time value of money, financial evaluation, debt and loan management.
  • Know about the Indian Financial Markets and Securities Market Segments.
  • Gain orientation to various investment products, including:
    • Equity
    • Debt
    • Derivatives
    • Managed Portfolios
    • Mutual Funds
    • Portfolio Management Services (PMS)
    • Alternative Investment Funds (AIFs)
    • Understand portfolio construction, performance monitoring, and evaluation.
    • Comprehend the operational, regulatory, and ethical aspects of investment management, including grievance redress mechanisms.
Link to NISM

For more details, please visit the official website of NISM.


Assessment Structure


Component Structure Marks
Multiple Choice Questions 90 questions × 1 mark each 90 marks
Case-based Questions (1 mark each) 6 caselets × 5 questions 30 marks
Case-based Questions (2 marks each) 3 caselets × 5 questions 30 marks
Total Questions 135 (including MCQs and caselets)
Total Marks 150
Exam Duration 3 hours
Passing Criteria Minimum 60% 90 marks
Negative Marking 25% deduction for each incorrect answer Applicable

Syllabus Outline and Weightages


Module No. Module / Chapter Name Chapter Details Marks
1 Personal Financial Planning Chapter 1 – Introduction to Personal Financial Planning
Chapter 2 – Time Value of Money
Chapter 3 – Cash Flow Management and Budgeting
Chapter 4 – Debt Management and Loans
37
2 Indian Financial Markets Chapter 5 – Introduction to Indian Financial Markets
Chapter 6 – Securities Market Segments
10
3 Investment Products Chapter 7 – Introduction to Investments
Chapter 8 – Investing in Stocks
Chapter 9 – Investing in Fixed Income Securities
Chapter 10 – Understanding Derivatives
30
4 Investment Through Managed Portfolio Chapter 11 – Mutual Fund
Chapter 12 – Portfolio Manager
Chapter 13 – Overview of Alternative Investment Funds (AIFs)
23
5 Portfolio Construction, Performance Monitoring and Evaluation Chapter 14 – Introduction to Modern Portfolio Theory
Chapter 15 – Portfolio Construction Process
Chapter 16 – Portfolio Performance Measurement and Evaluation
20
6 Operations, Regulatory Environment, Compliance and Ethics Chapter 17 – Operational Aspects of Investment Management
Chapter 18 – Key Regulations
Chapter 19 – Ethical Issues
Chapter 20 – Grievance Redress Mechanism
30
Total Marks 150

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