What is the NISM Series VIII exam?
The NISM Series VIII: Equity Derivatives certification is mandatory under SEBI regulations for individuals working in equity derivatives market roles in India — including dealers, traders, relationship managers, and clearing and risk management staff at brokerages and exchanges.
What this practice test covers
- Basics of derivatives: forwards, futures, and options
- Index and stock futures pricing and cost of carry
- Index and stock options: payoffs, pricing, and option Greeks
- Margining systems: SPAN margin and mark-to-market (MTM)
- Clearing, settlement, and trading systems
- SEBI regulatory framework and code of conduct for derivatives
Passing the NISM Series VIII exam
The exam has 100 MCQs for 100 marks, with a 2-hour time limit. You need 60 marks (60%) to pass. There is negative marking of 25% per wrong answer, so accuracy matters — do not guess on questions you are unsure about.
Why practice with mock tests
The NISM VIII paper includes both conceptual and numerical questions. Reading the workbook covers theory; timed mock tests build calculation speed, surface weak areas in payoff diagrams and margin calculations, and prepare you for the pressure of the real exam.