NISM Series XXV-B

It is a NISM certification examination titled 'Persons Associated with Investment Advice (Sales and Other Non-Core Services)'. It is listed on the NISM website under its Persons Associated certifications, and a SEBI circular relating to it is dated June 24, 2026. Always read the current official NISM notification for the operative details of the module.

People working in sales and other non-core functions around an investment advisory business - client-facing distribution, servicing and support staff who interact with clients but do not perform the core advisory act itself. If your role involves giving advice rather than supporting it, check the Investment Adviser series instead.

The NISM website page reviewed here does not publish a question count, duration, or marking scheme for this module. Treat any figure you see elsewhere as unverified unless it comes from the current official NISM notification or the exam-booking page for this specific module.

These are not stated on the NISM page reviewed here, so they are left unconfirmed rather than guessed. Fees and cut-offs are set per examination and can be revised, so confirm both on the official notification and on the certification portal at the time you register.

Registration for NISM certification examinations is done through the NISM Certification Portal, where you select your module and pick either an exam centre or a remote-proctored option. Confirm the module code and the current fee on the portal before paying.

NISM states that for certain roles - its examples are mutual fund distributors, research analysts and compliance officers - SEBI mandates NISM certifications. Whether this specific certification is mandatory for your role depends on the applicable SEBI framework, so check the circular and your employer's compliance team.

NISM lists a certificate validity period, typically in years, on its individual certification pages; the page reviewed here does not show a validity figure for this module. Look for the validity line on the specific module page or notification, and diarise the renewal date if one applies.

Start with the Indian securities markets and the regulatory framework, since the boundary rules later in the syllabus assume it. Then take investment advice and the roles of persons associated with it, followed by permitted sales and non-core activities, client onboarding and KYC documentation, and finally ethics, conflicts and grievance redressal.

Two patterns dominate. First, confusing what an advisory-linked sales role may say and do against what only a registered adviser may do - the boundary questions. Second, treating ethics, conflict-of-interest and grievance-redressal material as common sense and skipping it, when those items are fact-specific and rule-driven.

No. This is independent study material produced by an unaffiliated platform. It is not endorsed by, sponsored by, or connected to NISM or SEBI, and it does not reproduce any official question bank. Use the official NISM study material and notifications as your authoritative source for all examination facts.