What is the NISM XA exam?
The NISM Series X-A: Investment Adviser (Level 1) certification is mandatory under SEBI regulations for individuals who offer investment advisory services in India. Along with NISM Series X-B, it is required to register as a SEBI Investment Adviser.
What this practice test covers
- Regulatory framework for investment advisers and SEBI guidelines
- Securities markets, products, and financial planning basics
- Risk, return, and portfolio construction concepts
- Investor protection, ethics, and adviser responsibilities
Passing the NISM XA exam
You need 60% to pass the NISM XA exam, and there is negative marking for wrong answers, so accuracy matters as much as coverage. Practising exam-pattern questions under those rules is the fastest way to find and fix your weak areas.
Why practice with mock tests
Reading the workbook tells you what you know; a timed mock test tells you what you can actually answer. Full-length mocks build exam-day stamina, surface the topics you keep getting wrong, and remove surprises on the real exam.