How to Ace the NISM Series XV: Research Analyst Certification Exam (2025)
Want to become a SEBI-registered research analyst? The NISM Series XV Research Analyst Certification Exam is your gateway. This guide covers everything—from syllabus breakdown to mock tests—to help you pass confidently on your first attempt.
🧾 Exam Structure at a Glance
| Detail | Info |
|---|---|
| Questions | 92 MCQs + 2 case studies (4 sub-Qs each) |
| Total Marks | 100 |
| Passing Score | 60 |
| Negative Marking | 25% per wrong answer |
| Duration | 2 hours |
| Mode | Online, supervised test center |
🎯 Step-by-Step Strategy to Clear the Exam
1. Know the Syllabus
Base your prep entirely on the official workbook. Key sections include:
- Indian securities markets
- Equity and debt instruments
- Research process: top-down & bottom-up
- Economic, industry, and company analysis
- Financial ratios and statement interpretation
- Valuation methodologies
- SEBI regulations and compliance
Tip: Create a checklist and track progress chapter-by-chapter.
2. Practice Numerical Questions Daily
Around 20–25% of the exam includes calculative questions:
- Time Value of Money
- DCF and relative valuation
- Ratio analysis
- Forecasting models
Use a basic calculator during practice to simulate the exam setting.
3. Attempt High-Quality Mock Tests
Mock exams improve:
- Speed
- Accuracy
- Concept clarity under pressure
Focus on:
- Chapter-wise quizzes
- Case-study based MCQs
- Full-length simulations
Aim for 150–200 practice questions before your exam day.
4. Master Time Management
With 100 questions in 120 minutes:
- Solve sure-shot questions first
- Mark and revisit the tricky ones
- Avoid blind guessing—negative marking applies
Strategy: First round in 90 mins, review in the last 30.
5. Revise Smartly
In the final 7–10 days:
- Focus on summary notes
- Redo key numericals
- Use flashcards for concepts and definitions
- Revisit every mock test you’ve taken and learn from mistakes
🧠 Key Topics That Often Appear in the Exam
| Topic | Why It Matters |
|---|---|
| Economic Analysis | Case-study fundamentals |
| Industry Lifecycle & Structure | Helps in relative valuation |
| Company Financials & Ratios | Frequently used in numericals |
| Valuation Techniques (DCF, PE, etc.) | Core for analyst-level decision-making |
| SEBI Research Analyst Regulations | Minimum marks often required in this area |
📅 2-Week Study Plan (Adjustable)
| Day Range | Focus |
|---|---|
| Days 1–3 | Read workbook, take chapter notes |
| Days 4–6 | Practice numericals and concept drills |
| Days 7–10 | Mock tests + revision |
| Days 11–14 | Final revision + weak topics review |
📝 Registration Process
- Visit: https://certifications.nism.ac.in
- Create an account and select “Series XV”
- Schedule the exam at your preferred location
- Double-check your PAN details before submitting
📌 After You Pass: What’s Next?
Passing this exam is mandatory for SEBI registration as a Research Analyst. Once cleared:
- Apply via SEBI Intermediary Portal
- Submit your certification, qualification, and KYC documents
- Maintain compliance with SEBI (RA) Regulations, 2014
📣 Call to Action
🎯 Ready to pass the exam?
Create your personalized study tracker, download summary sheets, and start your practice today. Don’t leave it to chance—structured preparation is the key to success.
Need a PDF study planner? Request one and stay organized during your prep.
🙋♂️ Frequently Asked Questions (FAQs)
Q1. Is the NISM Research Analyst Exam difficult?
A1. It’s moderately challenging. With structured study and mock tests, most candidates pass on the first attempt.
Q2. Can I prepare without coaching?
A2. Yes. The official workbook, numericals, and practice tests are sufficient for self-study.
Q3. What calculator is allowed in the exam?
A3. Only a basic calculator (non-scientific, non-programmable) is allowed.
Q4. How often is the exam conducted?
A4. The NISM Series XV exam is available year-round. You can schedule it as per your convenience via the portal.
📈 Conclusion
With focused effort, regular practice, and smart revision, you can confidently clear the NISM Series XV: Research Analyst Certification Exam in your first attempt. Use the right tools, stay disciplined, and treat every mock as the real exam.