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NISM Series X-B · Investment Adviser (Level 2)

How to Prepare for NISM Series X-B Investment Adviser (Level 2) Exam?

700+ practice questions across all 20 chapters of the NISM-Series-X-B: Investment Adviser (Level 2) workbook. Answers and explanations included. No signup needed to study.

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700+
Questions
20
Chapters
150
Exam Marks
180m
Duration
60%
Pass Score
Free
1 Mock
NISM SERIES X-B MOCK TEST — FREE
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Most candidates guess their way through X-B. BullWiser makes you prove it. · 90 MCQs + 6 caselets · 180 min · negative marking · 1 free full mock
Weak on calculations? Try 40 free numerical questions and the formula sheet.
Pass the real NISM Series X-B exam, get ₹199 in your UPI. Unlock the 8 full X-B mocks for ₹199, clear the exam, then claim your reward. Unlock the mocks · Conditions apply
Part of BullWiser's 8,000+ question NISM prep library across 6 certifications (V-A, V-D, X-A, X-B, XV, XXI-A)

What you get with BullWiser X-B prep, beyond a question bank

A question bank and a score tell you where you stand. BullWiser also tells you what to study next. These features come with a free account.

Free NISM Dashboard

Every mock you take is saved to your free account. An exam-readiness gauge shows your best score and how close you are to the pass mark for NISM Series X-B.

Chapter-wise weak areas

After each mock, every chapter is marked weak (below 60%), watch (60–74%) or strong (75%+), so you know exactly where marks are leaking.

Priority Chapter

The dashboard names the one chapter worth fixing next, so you revise where it matters instead of re-reading the whole workbook.

Time Analysis

Average seconds per question plus your fastest and slowest areas, so you see where time is lost, not just marks.

Full attempt history

Every attempt with date, score and pass/fail in one place, across all six NISM series under a single login.

5-step prep roadmap

Learn the syllabus, take a cold mock, fix the priority chapter, watch your pace, then re-test: a simple plan that works for any series.

Real exam-pattern mocks

Timed full-length mocks with NISM-accurate marking, including negative marking where the exam has it.

Free chapter-wise practice

Every chapter page has free sample questions with explanations, and key chapters now carry exam-focused study notes in plain English.

Numericals and formula sheets

Solved numerical questions and formula sheets for the calculation-heavy chapters.

Star Performer leaderboard

Daily, weekly and all-time top scorers, a little healthy competition while you prepare.

Pass and get ₹199 back

Buy a mock pack, clear the real NISM exam, and claim ₹199 to your UPI. Conditions apply.

Verifiable mock certificates

Passed mock attempts come with a certificate that anyone can check on BullWiser's verify page.

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New: NISM XXI-A for PMS distributors. Selling PMS needs XXI-A plus an APMI registration. Free full mock and 40 solved numericals.
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All 20 chapters of condensed notes + the full question bank with explanations — one PDF, lifetime access.

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Exam Pattern90 MCQs + 6 caselets (5 sub-questions each, 2 marks per sub-question) = 150 marks
Negative Marking25% of a question's marks per wrong answer · 0 for skipped
Pass Threshold90 out of 150 marks (60%)
Based OnNISM-Series-X-B: Investment Adviser (Level 2) Workbook
Study Chapter by Chapter
Ch. 18 marks
Basics of Insurance
33 MCQs · 1 case set →
Ch. 210 marks ⭐
Features of Life Insurance Products
31 MCQs · 2 case sets →
Ch. 37 marks
Features of Non-Life Insurance Products
28 MCQs · 1 case set →
Ch. 410 marks ⭐
Retirement Planning Basics
39 MCQs · 2 case sets →
Ch. 512 marks ⭐
Retirement Products
33 MCQs · 2 case sets →
Ch. 68 marks
Miscellaneous Aspects of Retirement Planning
22 MCQs · 1 case set →
Ch. 73 marks
Concepts of Taxation
19 MCQs · no case sets →
Ch. 85 marks
Capital Gains
26 MCQs · 1 case set →
Ch. 92 marks
Income from Other Sources
14 MCQs · no case sets →
Ch. 104 marks
Taxation of Debt Products
19 MCQs · 1 case set →
Ch. 114 marks
Taxation of Equity Products
22 MCQs · 1 case set →
Ch. 121 marks
Taxation of Other Products
15 MCQs · no case sets →
Ch. 131 marks
Tax Provisions for Special Cases
11 MCQs · no case sets →
Ch. 1410 marks ⭐
Basics of Estate Planning
34 MCQs · 1 case set →
Ch. 1510 marks ⭐
Tools for Estate Planning
35 MCQs · 1 case set →
Ch. 165 marks
Basics of Behavioral Finance
25 MCQs · no case sets →
Ch. 175 marks
Behavioral Finance in Practice
23 MCQs · 1 case set →
Ch. 1810 marks ⭐
Risk Profiling for Investors
27 MCQs · 1 case set →
Ch. 1910 marks ⭐
Comparison of Products across Categories
24 MCQs · 1 case set →
Ch. 2025 marks ⭐
Case Studies
30 MCQs · 3 case sets →

Ready to Test Under Exam Conditions?

Full 180-minute mock with all 20 chapters, 6 two-mark caselets, and NISM-accurate scoring.

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Frequently Asked Questions

What is the passing score for NISM Series X-B?

90 out of 150 marks (60%). The exam combines MCQs and case-study sets across 20 chapters, in 180 minutes.

Is there negative marking in the NISM Series X-B exam?

Yes — 25% of a question's marks are deducted for each wrong answer, with no penalty for skipped questions.

What is the NISM Series X-B exam fee?

₹3,000 plus payment gateway charges, per NISM's fee table. NISM revises fees from time to time, so confirm the current amount before paying — there's no discount for repeat attempts.

How many times can I attempt the exam?

NISM's FAQs don't publish a limit on attempts — if you fail, you can enrol again and retake it. Each attempt needs a fresh enrolment and the full fee.

How long is the certificate valid?

3 years from the date of passing, renewable by retaking the exam or completing a NISM-approved CPE program before expiry.

Is the BullWiser mock test really free?

Yes — a full 180-minute mock (90 MCQs + case sets, NISM-accurate scoring) is free with a free account, and all 700+ practice questions are free. A ₹199 condensed-notes PDF is an optional add-on.

Is NISM X-B tough?

Yes, it is one of the harder NISM papers: 150 marks, 60% to pass and 25% negative marking, with case-study questions over 180 minutes. It builds directly on X-A, so clear X-A first while the concepts are fresh.

Is the NISM investment adviser certification worth it?

It is worth it if you plan to give fee-based advice: SEBI requires both X-A and X-B for individual investment advisers. If you only want to sell mutual funds, you need V-A instead, which is shorter and easier.

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