NISM-Series-X-A: Investment Adviser (Level 1)

After the completion of your exam, the points you earned on each question are totaled and then compared with the cut score to determine whether the result is pass or fail.

Revised NISM-Series- X-A: Investment Adviser (Level 1) Certification Examination w.e.f January 25, 2020. The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as an investment adviser and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013 and offering investment advisory services. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is the level 1 examination. An associated person shall be required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination) tofulfill the requirements under Regulation 7(2) of the SEBI (Investment Advisers) Regulations, 2013. The certification aims to enhance the quality of investment advisory and related services in the financial services industry.

The following persons can take NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination: 1. Investment Advisers and their associated persons, including their representatives and partners 2. Interested students/professionals 3. Any other Individual

There will be 100 questions which have to be completed in 120 minutes.

There are no prerequisites required for NISM-Series- X-A: Investment Adviser (Level 1) Certification Exam.

The fees for NISM-Series- X-A: Investment Adviser (Level 1) Certification Exam is Rupees One Thousand Five Hundred only (Rs. 1500/-).

The candidate has to secure 60% in order to pass the exam.

The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be negative marking of 25% of the marks assigned to a question for each wrong answer.

On successful completion of the examination the candidate should: • Know the basics of investment advisory, steps in the advisory process, making and implementation of financial plan. • Understand how to evaluate different products, their suitability and how the recommendation of the same can impact investment risks, returns and strategies in a personal finance environment for investors and prospective investors in the market. • Get oriented to the Income tax, Wealth tax and legalities of Estate planning in personal finance, and regulatory aspects underlying advisory. • Get acquainted with financial planning as an approach to investing, insurance, retirement planning and an aid for advisers to develop long term relationships with their clients.

The certificate will be valid for 3 years from the date of the examination.

There will be 100 questions in the exam.

There will only be multiple-choice and multi-response questions covered in the exam.

To renew your current certificate, you need to appear for NISM CPE for Investment Adviser (Level 1) or successfully pass the NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination before the expiry of such certificate.

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