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NISM Series-XIII: Common Derivatives

NISM Series-XIII: Common Derivatives

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NISM Series XIII: Common Derivatives

The examination seeks to create a common minimum knowledge benchmark for:
The approved users and sales personnel of the trading members of the Currency Derivatives Segment of a recognised stock exchange and trading in Currency Derivatives
The approved users and sales personnel of the trading members who are registered as such in the Currency Derivatives Segment of a recognized stock exchange and trading in Interest Rate Derivatives
The associated persons functioning as approved users and sales personnel of the trading members of an equity derivatives exchange or equity derivative segment of a recognized stock exchange


Purpose of the Exam 

The purpose of the exam is to enable a better understanding of various derivatives products available in the three derivatives segments (i.e., Equity Derivatives, Currency Derivatives and Interest Rate Derivatives), regulations and risks associated with these products and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the exchange traded derivatives.

Target Audience

NISM has launched the NISM-Series-XIII: Common Derivatives Certification Examination as an "additional choice" which the candidates may choose to take instead of appearing for the Currency Derivatives (Series-I), Interest Rate Derivatives (Series-IV) and NISM’s Equity Derivatives (Series-VIII) examinations individually.
The following persons can take NISM-Series-XIII: Common Derivatives Certification Examination:
1. All approved users and sales personnel of trading members of currency derivatives, interest rate derivatives and equity derivatives segments of recognized stock exchanges
2. Interested students/professionals
3. Any other individuals
Prerequisite for the exam
There are no prerequisites required for NISM Series XIII: Common Derivatives Exam.


Examination Objectives:

On successful completion of the examination the candidate should:
Know the basics of the Indian derivatives market (covering Equity Derivatives, Currency Derivatives and Interest Rate Derivatives).
Understand the various trading and hedging strategies that can be built using futures and options.
Understand the clearing, settlement and risk management as well as the operational mechanism related to the derivatives markets.
Know the regulatory environment in which the derivatives markets operate in India.

Exam Format and Information

Exam Name NISM Series XIII: Common Derivatives

Exam Code 0
Exam Duration 180 mins
Exam Format Multiple Choice
Exam Type 0
Number of Questions 150 Questions
Validity 3 Years
Exam Fee Rs 3000
Exam Language English
Pass Score 60% and above

NISM Series-XIII: Common Derivatives FAQs

The examination seeks to create a common minimum knowledge benchmark for: • The approved users and sales personnel of the trading members of the Currency Derivatives Segment of a recognised stock exchange and trading in Currency Derivatives • The approved users and sales personnel of the trading members who are registered as such in the Currency Derivatives Segment of a recognized stock exchange and trading in Interest Rate Derivatives • The associated persons functioning as approved users and sales personnel of the trading members of an equity derivatives exchange or equity derivative segment of a recognized stock exchange
The purpose of the exam is to enable a better understanding of various derivatives products available in the three derivatives segments (i.e., Equity Derivatives, Currency Derivatives and Interest Rate Derivatives), regulations and risks associated with these products and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the exchange traded derivatives.
There will be 150 questions which have to be completed in 180 minutes.
There are no prerequisites required for NISM Series XIII: Common Derivatives Exam.
NISM has launched the NISM-Series-XIII: Common Derivatives Certification Examination as an "additional choice" which the candidates may choose to take instead of appearing for the Currency Derivatives (Series-I), Interest Rate Derivatives (Series-IV) and NISM’s Equity Derivatives (Series-VIII) examinations individually. The following persons can take NISM-Series-XIII: Common Derivatives Certification Examination: 1. All approved users and sales personnel of trading members of currency derivatives, interest rate derivatives and equity derivatives segments of recognized stock exchanges 2. Interested students/professionals 3. Any other individuals
The fees for NISM Series XIII: Common Derivatives Exam is Rupees One Thousand Five Hundred only (Rs. 3000/-).
The candidate has to secure 60% in order to pass the exam.
On successful completion of the examination the candidate should: • Know the basics of the Indian derivatives market (covering Equity Derivatives, Currency Derivatives and Interest Rate Derivatives). • Understand the various trading and hedging strategies that can be built using futures and options. • Understand the clearing, settlement and risk management as well as the operational mechanism related to the derivatives markets. • Know the regulatory environment in which the derivatives markets operate in India.
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.
The NISM-Series-XIII: Common Derivatives Certification Examination will be a 150 marks examination to be completed in 3 hours. It will have 150 questions of 1 mark each. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60% which is 90 marks out of total marks of 150.
To renew your current certificate, you need to appear for NISM CPE for Common Derivatives, when it is made available, or successfully pass the NISM Common Derivatives Certification Examination before the expiry of such certificate.
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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.
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