Examination Overview - NISM Series III-C: Securities Intermediaries Compliance (Fund) Certification Mock Test
The examination is designed to establish a common minimum knowledge benchmark for professionals engaged in compliance functions across SEBI-registered intermediaries, including Mutual Funds, Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs).
This certification aims to improve the quality and effectiveness of compliance services by ensuring that compliance officers possess a strong understanding of SEBI regulations, securities market laws, and regulatory frameworks governing the Indian capital market.
It also ensures that professionals responsible for compliance are well-versed with evolving regulatory requirements, enabling better governance, risk control, and regulatory adherence within securities market intermediaries.
Your Gateway to a Career in Fund Compliance
In the intricate and highly regulated world of Indian capital markets, the role of a Compliance Officer is not just important—it is indispensable. As the financial sector grows, so does the complexity of the rules that govern it. For professionals working with Mutual Funds, Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs), understanding these regulations is the bedrock of their career.
The NISM 3C: Securities Intermediaries Compliance (Fund) Certification Examination is the mandatory, regulator-approved standard for these professionals. It is not merely an exam; it is a validation of your ability to navigate the legal and ethical framework of the securities market.
At NISMExams.in, we recognize the critical nature of this certification. We have designed a comprehensive preparation ecosystem that goes beyond simple question banks. Our goal is to equip you with the knowledge, the practice, and the confidence to clear this rigorous exam on your first attempt and excel in your role as a guardian of market integrity.
Examination Objectives
On successful completion of Securities Intermediaries Compliance (Fund) Certification Mock Test, the candidate should:
The examination is structured into two distinct sections to provide comprehensive coverage of compliance requirements in the Indian securities market.
Part A focuses on the financial and regulatory framework of India, offering candidates a strong foundation in the structure of the financial system, key market participants, and the regulatory environment within which intermediaries operate.
Part B specifically addresses the rules, regulations, and compliance requirements applicable to Mutual Funds, Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs).
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) |
| Total Marks |
100 |
| Marks per Question |
1 mark |
| Passing Criteria |
60% |
| Negative Marking |
25% of the marks assigned to the question |
| Exam Duration |
2 Hours (120 Minutes) |
| Exam Fee |
Rs. 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 – Securities Intermediaries Compliance (Fund) Certification Examination
| Chapter No. |
Chapter Name |
Weightage |
|
Part A: Understanding the Securities Markets and the Securities Markets Regulatory Structure in India
|
| Chapter 1 |
Introduction to the Financial System |
5 |
| Chapter 2 |
Regulatory Framework – General View |
6 |
| Chapter 3 |
Introduction to Compliance |
4 |
| Chapter 4 |
SEBI Act, 1992 |
7 |
| Chapter 5 |
SCRA, 1956 and SCRR, 1957 |
4 |
| Chapter 6 |
SEBI Intermediaries Regulations, 2008 |
6 |
| Chapter 7 |
SEBI (Prohibition of Insider Trading) Regulations, 2019 |
6 |
| Chapter 8 |
SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003
|
6 |
| Chapter 9 |
Prevention of Money Laundering Act, 2002 |
7 |
| Chapter 10 |
SEBI (KYC Registration Agency) Regulations, 2011 |
2 |
| Chapter 11 |
SEBI (Foreign Portfolio Investors) Regulations, 2019 |
3 |
| Chapter 12 |
Foreign Exchange Management Act |
4 |
| Chapter 13 |
SEBI Depositories Act, 1996 |
3 |
|
Part B: Understanding Intermediary Specific Regulations
|
| Chapter 14 |
SEBI (Mutual Fund) Regulations, 1996 |
11 |
| Chapter 15 |
SEBI (AIF) Regulations, 2012 |
10 |
| Chapter 16 |
SEBI (InvIT) Regulations, 2014 |
8 |
| Chapter 17 |
SEBI (REITs) Regulations, 2014 |
8 |
| Total Weightage |
100 |
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Frequently Asked Questions - NISM Series III-C: Securities Intermediaries Compliance (Fund) Certification
The NISM Series III-C Securities Intermediaries Compliance (Fund) Certification Examination is a specialized exam for professionals working in compliance roles with SEBI-registered intermediaries like Mutual Funds, AIFs, REITs, and InvITs. It validates your knowledge of fund-specific regulations and the Indian securities market structure.
This exam is mandatory for compliance officers and staff engaged in compliance functions at Mutual Funds, Alternative Investment Funds (AIFs), REITs, and InvITs. It is also ideal for students and professionals aiming for a career in regulatory compliance within the fund management industry.
Yes, SEBI mandates this certification for associated persons functioning as compliance officers in the fund management sector to ensure a common minimum knowledge benchmark.
The syllabus is divided into two parts:
Part A: General Regulatory Framework (SEBI Act, SCRA, PMLA, Insider Trading, etc.).
Part B: Intermediary-Specific Regulations (Mutual Funds, AIFs, REITs, InvITs).
The passing score is 60% (60 marks out of 100). The exam consists of 100 questions of 1 mark each.
Yes, there is a negative marking of 25% (0.25 marks) for every incorrect answer. Candidates should be cautious and avoid random guessing.
The certificate is valid for 3 years from the date of passing the examination.
You can register online through the NISM certification portal (cert.nism.ac.in). Create a profile, update your PAN details, select the exam, choose a test centre, and pay the fee.
The fee for the NISM Series III-C exam is ₹1,500 + GST. Payment gateway charges may apply extra.
Yes, you can reschedule your exam slot subject to NISM's rescheduling policy and fees. This must be done through your candidate dashboard before the cut-off time.
Once enrolled, you can download your Admit Card (Hall Ticket) from the NISM candidate dashboard approximately 7 days before the exam date.
After registration, NISM provides a free soft copy of the official workbook. You can also purchase physical books from Taxmann or access NISM 3C study materials on NISMExams.in.
Taking a NISM 3C Mock Test helps you understand the exam pattern, manage the 2-hour time limit, and practice handling the 25% negative marking. It is crucial for assessing your readiness.
Yes, we offer a comprehensive NISM Series III-C Mock Test package with 500+ updated questions, detailed explanations, and concise notes for just ₹599.
You can attempt a free NISM 3C Demo Test on our website to get a feel for the question quality and difficulty level before buying the full package.
Absolutely. Our question bank is regularly updated to reflect the latest SEBI regulations, including the new norms launched w.e.f. November 24, 2025.
After passing the exam, you can download your digital certificate from the "My Examinations" section of the NISM portal. Ensure your PAN details are updated to generate the certificate.
You can work as a Compliance Officer, Risk Manager, or Internal Auditor in top Asset Management Companies (AMCs), AIFs, and Wealth Management firms.
No, NISM does not allow re-evaluation as the exam is computer-based. However, you can raise a query about a specific question at the test centre immediately after the exam if you suspect an error.
To renew your certificate, you must either re-take and pass the exam or complete the mandated Continuing Professional Education (CPE) training program offered by NISM before your certificate expires.