The NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is mandatory for individual investment advisers and principal officers of non-individual investment advisers registered under SEBI (Investment Advisers) Regulations, 2013. Both Level 1 (X-A) and Level 2 (X-B) must be cleared to fulfil the registration requirement. It covers personal financial planning, Indian financial markets, investment products, portfolio construction, and regulatory compliance.
Practice with 3,850+ questions based on the official NISM Series X-A syllabus. Instant results, chapter-wise analysis, negative marking simulation.
Questions distributed per NISM Series X-A syllabus. Personal Financial Planning, Investment Products, and Key Regulations carry the highest weightage.
Experience real exam pressure with −25% per wrong answer. Learn when to skip and when to attempt — a critical skill for IA exam success.
Submit and get your score, pass/fail verdict, chapter-wise breakdown, and analysis of every question.
9 real-pattern case sets (45 sub-questions, mixed 1-mark and 2-mark) included in each exam — mirrors the actual NISM Series X-A paper format with scenario-based MCQs.
180-minute countdown timer mirrors the actual NISM exam environment. Build time management skills before the real test.
3,850+ questions across all 20 chapters. Covers personal financial planning, investment products, portfolio construction, and regulatory compliance in depth.
| Ch. | Chapter | Marks | Questions in Bank | Weight |
|---|---|---|---|---|
| 1 | Introduction to Personal Financial Planning | 9 | 280 | |
| 2 | Time Value of Money | 10 | 230 | |
| 3 | Cash Flow Management and Budgeting | 9 | 175 | |
| 4 | Debt Management and Loans | 9 | 175 | |
| 5 | Introduction to Indian Financial Markets | 5 | 125 | |
| 6 | Securities Market Segments | 5 | 125 | |
| 7 | Introduction to Investments | 4 | 100 | |
| 8 | Investing in Stocks | 10 | 225 | |
| 9 | Investing in Fixed Income Securities | 10 | 225 | |
| 10 | Understanding Derivatives | 6 | 150 | |
| 11 | Mutual Fund | 10 | 225 | |
| 12 | Portfolio Manager | 8 | 175 | |
| 13 | Overview of Alternative Investment Funds | 5 | 125 | |
| 14 | Introduction to Modern Portfolio Theory | 6 | 150 | |
| 15 | Portfolio Construction Process | 7 | 150 | |
| 16 | Portfolio Performance Measurement and Evaluation | 7 | 150 | |
| 17 | Operational Aspects of Investment Management | 8 | 175 | |
| 18 | Key Regulations | 10 | 210 | |
| 19 | Ethical Issues | 6 | 125 | |
| 20 | Grievance Redress Mechanism | 6 | 125 | |
| Total | 150 | 3420+ | 100% | |
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NISM Series X-A: Investment Adviser (Level 1) Mock Exam
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