NISM Series XV
NISM-Series-XV: Research Analyst Certification Examination
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ExploreAbout this exam
NISM-Series-XV: Research Analyst Certification Examination is one of the certification examinations listed by the National Institute of Securities Markets (NISM) under its Research Analyst category. NISM describes itself as a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India, carrying out capacity building activities aimed at enhancing quality standards in securities markets. The Research Analyst category on NISM's site contains two entries: this examination and NISM Series XV-B: Research Analyst Certification (Renewal) Examination, which indicates the base certification is time-limited and renewed through a separate examination. Candidates who intend to work in research roles in the Indian securities markets, and individuals who must hold a valid certification to act as research analysts, are the natural audience. NISM also operates Continuing Professional Education (CPE) and eCPE programmes, and lists a Study Material portal alongside its certification menu. Preparation should start from the official NISM workbook for this series, then move to practice questions and timed mock tests. Important caveat: the retrieved NISM page is a "Page not found" page. It confirms the examination's existence, its placement under Research Analyst, and the renewal variant, but it does not state the number of questions, duration, passing score, fee, syllabus weightings, or retake rules. A circular titled "NISM/Certification/ NISM Series XV: Research Analyst Certification Examination/2025/dated December 05, 2025" appears in the notifications list, but its contents are not reproduced in the retrieved text. Verify all exam-day parameters on the official NISM page before booking.
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About NISM Series XV preparation
What exactly is the NISM Series XV Research Analyst Certification Examination?
It is the certification examination NISM lists under its Research Analyst category. NISM's site pairs it with NISM Series XV-B, the Research Analyst Certification (Renewal) Examination, so the base certification is renewed through a separate exam rather than held indefinitely.
How many questions are on the exam, and how long do I get?
The retrieved NISM page does not state the question count or duration, so no reliable figure can be given here. Check the official NISM page for this series and the circular dated December 05, 2025 listed in its notifications before you plan your timing practice.
What is the passing score and the exam fee?
Neither is stated in the source material retrieved. Treat any passing percentage or fee you see on third-party sites as unverified, and confirm both on the official NISM page or the current circular for this series before you register.
How difficult is it, and how long should I study?
Difficulty and study hours are not published in the retrieved source. A practical approach is to work through the official NISM workbook for this series cover to cover, then take timed mock tests until your scores are stable and comfortably above the pass mark you confirm officially.
If I fail, how soon can I retake it?
The retake policy is not stated in the retrieved text. NISM certification examinations are generally administered through designated test centres with online registration, but confirm the current attempt and re-registration rules on the official NISM page rather than relying on second-hand summaries.
How long is the certification valid, and what is the renewal route?
The retrieved source does not state a validity period. It does confirm a separate renewal examination, NISM Series XV-B: Research Analyst Certification (Renewal) Examination, listed alongside this one under Research Analyst, so plan on renewing through XV-B and check the official validity term.
In what order should I prepare?
Start with the official NISM workbook for this series to build coverage, then move to topic-wise practice questions to expose weak areas, and finish with full-length timed mocks. NISM's site also lists Study Material and CPE/eCPE sections that are worth checking for supporting resources.
What are the most common ways candidates lose marks?
Without published analytics, the safest general advice is to avoid memorising formulas without understanding when they apply, to skip the regulatory and ethics material because it feels easy, and to attempt timed mocks too late. Confirm the actual syllabus from the official NISM workbook rather than assuming topic weights.
Does NISM offer continuing education after certification?
Yes. NISM's site lists a CPE / eCPE section with upcoming programmes and subject-specific CPE tracks, and it also invites applications for empanelment as a Continuing Professional Education (CPE) Trainer. Check whether CPE is required for your registration and which programmes apply to research analysts.
Is this page affiliated with NISM or SEBI?
No. This is independent study material prepared for candidates searching this exam. NISM is the body that actually conducts the certification; always rely on nism.ac.in for authoritative details on registration, syllabus, fees, and results.