What is the NISM XXIII exam?
The NISM Series XXIII: Social Impact Assessors Certification Examination (formerly Social Auditors) is a certification conducted by the National Institute of Securities Markets (NISM) for professionals who conduct Social Impact Assessments as required under SEBI's Social Stock Exchange framework. It covers the concepts, standards, and process of social impact assessment for social enterprises.
What this practice test covers
- Introduction to the Social Stock Exchange and social enterprises
- Concepts and standards of social impact assessment
- Social auditing process, methodology, and reporting
- Case-based questions on assessing social impact
- Regulatory and compliance framework for Social Impact Assessors
Passing the NISM XXIII exam
NISM XXIII is a 100-mark computer-based test of 100 questions (85 independent questions plus 3 case-lets of 5 questions each, 1 mark each) to be completed in 2 hours, with a passing score of 60%. It carries negative marking of 25% (0.25 marks) for every wrong answer, so accuracy matters as much as coverage. NISM can revise its criteria, so always verify the current passing marks and marking scheme 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. Because NISM XXIII penalises wrong answers and includes case-based questions, full-length mocks help you judge when to attempt and when to skip, surface the topics you keep getting wrong, and remove surprises on exam day.