What is the NISM 12 exam?
The NISM Series XII: Securities Markets Foundation Certification Examination is a voluntary exam conducted by the National Institute of Securities Markets (NISM) for entry-level professionals and anyone seeking a basic, structured understanding of the Indian securities markets. It covers market fundamentals, primary and secondary market operations, mutual funds, derivatives, and personal financial planning.
What this practice test covers
- Understanding securities markets: structure, participants, and capital allocation
- Securities — types, features, and concepts: equity, debt, hybrid, commodities, and asset allocation
- Primary markets: issuance processes, intermediaries, and regulatory framework
- Secondary markets: trading infrastructure, execution, settlement, and investor protection
- Mutual funds: fund structures, investment modes, and scheme categories
- Derivative markets: instruments, risk management, and hedging applications
Passing the NISM 12 exam
NISM 12 is a 100-mark computer-based test of 100 questions (1 mark each) to be completed in 2 hours, with a passing score of 60%. There is no negative marking. NISM can revise its criteria, so always verify the current passing marks and exam structure on nism.ac.in before registering.
Why practice with mock tests
Reading the official workbook builds conceptual understanding, but a timed mock test reveals what you can actually answer under exam conditions. Full-length mocks help you gauge your pace across 100 questions, surface the topics you keep getting wrong, and remove surprises on exam day.