What is the SEBI Investor Certification Examination?
The SEBI Investor Certification Examination is a free, voluntary investor-awareness exam introduced by SEBI in association with NISM to foster financial literacy in India's securities markets. It is not a professional or mandatory certification -- anyone can register and take it at no cost, at any time, from a desktop, laptop, or Android device. The Securities Market booklet covers the structure of primary and secondary markets, the role of stock exchanges, depositories and regulators, investment risks and risk management, and investor rights and grievance redressal.
What this practice test covers
- Structure of securities markets: primary and secondary markets
- Role of stock exchanges, depositories, and regulatory bodies
- KYC, demat accounts, and how to buy and sell shares
- Investment risks: credit risk, market risk, and liquidity risk
- Risk management concepts: hedging and diversification
- Investor rights, responsibilities, and dispute resolution (SCORES)
Passing the SEBI Investor Certification Examination
The official exam has 50 multiple-choice questions worth 1 mark each (50 marks total), to be completed in 60 minutes, with a passing score of 50% (25 out of 50 marks). There is no negative marking. The exam is completely free, and candidates get 3 consecutive attempts before a 3-month cooling-off period. NISM can revise its exam pattern, so always verify current details on nism.ac.in before registering.
Why practice with mock tests
Because the official exam is free and open to anyone, there is little reason not to prepare properly before attempting it. A timed mock test shows what you can actually answer under exam conditions, in the same no-negative-marking format as the real exam, so you walk in with a realistic sense of pace and difficulty rather than sitting the exam cold.