NISM Series XV (Research Analyst) requires 60% in a 100-mark exam — 80 MCQs and 5 case-based sets across 15 chapters, with −0.25 negative marking. BullWiser provides 660+ chapter-wise practice questions, free mock tests, and condensed notes (₹199) — no signup needed to study.
Small-batch interactive sessions so every student can ask questions and get doubts resolved. Conducted live via Google Meet.
One registration. Every future batch. New batches start on the 5th of every month — once you're enrolled, you can join any upcoming batch at no extra cost, as many times as you need, until you're exam-ready. No re-buying if you miss a batch or want a refresher.
Full 120-minute mock with all 15 chapters, case-based questions, and NISM-accurate scoring.
Start Full Mock Exam ▶How to Analyse a Tech Startup IPO Like a Research Analyst
RA Profession & Ethics · Ch 1What Does a Research Analyst Actually Do? Day-One Guide
Technical Analysis · Ch 15 (15%)Correction or Reversal? RSI, Fibonacci & Moving Averages Explained
Industry Analysis · Ch 4EV Disruption & Value Migration: Industry Analysis Framework
Valuation · Ch 7 (12%)How to Value a High-Growth Company with No Dividends
60 out of 100 marks (60%). The exam has 100 MCQs worth 1 mark each, with 25% negative marking for wrong answers.
Based on BullWiser's internal mock test data from 121 attempts by 72 unique candidates (as of September 2026), the pass rate is 49.6%. Nearly 3 in 10 attempts score below 25%. The chapters costing candidates the most marks are Fundamental Analysis of Commodities, Qualities of a Good Research Report, and Company Analysis — see our full chapter-by-chapter accuracy report.
100 MCQs carrying 100 marks total, over 2 hours (120 minutes), with 25% negative marking (0.25 marks deducted per wrong answer).
Yes — 0.25 marks are deducted per wrong answer, with no penalty for unattempted questions. With a 60-mark pass threshold, knowing when to skip matters as much as knowing the right answer.
15 chapters covering equity research, financial statement analysis, valuation, economic and industry analysis, technical analysis, derivatives, SEBI regulations, and research report writing. Chapters 10 (Valuation) and 14 (Legal & Regulatory) carry the most weight.
Yes, there's no educational eligibility requirement to sit the exam. SEBI Research Analyst registration afterward does require a postgraduate finance-related degree, or a graduate degree plus 5 years' relevant experience.
Most candidates need 4-6 weeks of structured study, with extra time on Chapters 10, 12, and 14. Full-length mock tests under exam conditions are essential given how much negative marking affects final scores.