🎓 NISM V-A · XV · X-A · X-B · Exam Prep

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4
NISM Series
67
Chapters Mapped
3,200+
Aspirants Cleared
70%
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NISM passes at 50% (V-A). BullWiser trains you to a 70% readiness score — so the real exam feels easy.

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"Cleared NISM Series V-A on the first attempt with 78%. The question bank is the best I found online — close to the real exam pattern."

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Choose your exam

Full-length mocks with the official syllabus weightage — plus chapter-wise practice below.

NISM Series V-A

Mutual Fund Distributor

Compulsory certification for anyone selling mutual funds in India. 100 questions, 2 hours, no negative marking.

Pass mark: 50% · Exam fee: ~₹1,500 · 12 chapters
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NISM Series XV

Research Analyst

Mandatory certification for research analysts under SEBI (RA) Regulations. 100 marks, 2 hours, no negative marking.

Pass mark: 60% · Exam fee: ~₹1,500 · 15 chapters
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NISM Series X-A

Investment Adviser — Level 1

First of two papers for SEBI Registered Investment Advisers. 90 MCQs + 9 caselets, 150 marks, 3 hours, 25% negative marking.

Pass mark: 60% · 20 chapters
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NISM Series X-B

Investment Adviser — Level 2

Second RIA paper: insurance, retirement, taxation, estate planning, behavioural finance. 150 marks, 3 hours, 25% negative marking.

Pass mark: 60% · 20 chapters
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📚 NISM Study Pack — Notes Download

Mock batayega kahan weak ho. Study Pack batayega kya padhna hai — condensed notes + full question bank, one PDF, offline.

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840-page complete pack
All 20 chapters — study notes AND the full question bank in one PDF. Workbook padhne ke 500+ ghante bachao.
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Chapter-wise structure mirrors the official syllabus — mock mein jo chapter weak nikla, seedha wahi section kholo.
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Series X-A Study Pack
Investment Adviser Level 1 · 20 chapters · notes + question bank · 840 pages
₹199 one-time · instant download
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Series V-A Study Pack
Mutual Fund Distributor · 12 chapters · notes + question bank · 435 pages
₹199 one-time · instant download
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Series XV Study Pack
Research Analyst · 15 chapters · notes + question bank · 178 pages
₹199 one-time · instant download
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Series X-B Study Pack
Investment Adviser Level 2 · 20 chapters · notes + question bank · 255 pages
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Deepak Jha — founder of BullWiser Yeh mocks aur notes ek teacher ne banaye hain — content farm ne nahi. Deepak Jha · CA articleship (Pune) · 11 saal Deepak Commerce Classes · SIP investor since 2013 · Meet the founder →

Series V-A — chapter-wise practice

Mock mein jis chapter mein marks gaye, wahi chapter yahan practice karo. Syllabus-mapped, March 2026 workbook.

Ch. 1Investment Landscape160 questions → Ch. 2Concept and Role of a Mutual Fund120 questions → Ch. 3Legal Structure of Mutual Funds in India80 questions → Ch. 4Legal and Regulatory Framework200 questions → Ch. 5Scheme Related Information200 questions → Ch. 6Fund Distribution and Channel Management120 questions → Ch. 7NAV, Total Expense Ratio and Pricing160 questions → Ch. 8Taxation80 questions → Ch. 9Investor Services300 questions → Ch. 10Risk, Return and Performance of Funds140 questions → Ch. 11Mutual Fund Scheme Performance140 questions → Ch. 12Mutual Fund Scheme Selection300 questions →

Series XV — chapter-wise practice

Research Analyst syllabus, all 15 chapters.

Ch. 1Introduction to Research Analyst ProfessionPractice → Ch. 2Introduction to Securities MarketPractice → Ch. 3Terminology in Equity and Debt MarketsPractice → Ch. 4Fundamentals of ResearchPractice → Ch. 5Economic AnalysisPractice → Ch. 6Industry AnalysisPractice → Ch. 7Company Analysis — Business and GovernancePractice → Ch. 8Company Analysis — Financial AnalysisPractice → Ch. 9Corporate ActionsPractice → Ch. 10Valuation PrinciplesPractice → Ch. 11Fundamental Analysis of CommoditiesPractice → Ch. 12Fundamentals of Risk and ReturnPractice → Ch. 13Qualities of a Good Research ReportPractice → Ch. 14Legal and Regulatory EnvironmentPractice → Ch. 15Technical AnalysisPractice →

Series X-A — chapter-wise practice

Investment Adviser Level 1 syllabus, all 20 chapters.

Ch. 1Introduction to Personal Financial PlanningPractice → Ch. 2Time Value of MoneyPractice → Ch. 3Cash Flow Management and BudgetingPractice → Ch. 4Debt Management and LoansPractice → Ch. 5Introduction to Indian Financial MarketsPractice → Ch. 6Securities Market SegmentsPractice → Ch. 7Introduction to InvestmentsPractice → Ch. 8Investing in StocksPractice → Ch. 9Investing in Fixed Income SecuritiesPractice → Ch. 10Understanding DerivativesPractice → Ch. 11Mutual FundPractice → Ch. 12Portfolio ManagerPractice → Ch. 13Overview of Alternative Investment FundsPractice → Ch. 14Introduction to Modern Portfolio TheoryPractice → Ch. 15Portfolio Construction ProcessPractice → Ch. 16Portfolio Performance Measurement and EvaluationPractice → Ch. 17Operational Aspects of Investment ManagementPractice → Ch. 18Key RegulationsPractice → Ch. 19Ethical IssuesPractice → Ch. 20Grievance Redress MechanismPractice →

Series X-B — chapter-wise practice

Investment Adviser Level 2 syllabus, all 20 chapters.

Ch. 1Basics of InsurancePractice → Ch. 2Features of Life Insurance ProductsPractice → Ch. 3Features of Non-Life Insurance ProductsPractice → Ch. 4Retirement Planning BasicsPractice → Ch. 5Retirement ProductsPractice → Ch. 6Miscellaneous Aspects of Retirement PlanningPractice → Ch. 7Concepts of TaxationPractice → Ch. 8Capital GainsPractice → Ch. 9Income from Other SourcesPractice → Ch. 10Taxation of Debt ProductsPractice → Ch. 11Taxation of Equity ProductsPractice → Ch. 12Taxation of Other ProductsPractice → Ch. 13Tax Provisions for Special CasesPractice → Ch. 14Basics of Estate PlanningPractice → Ch. 15Tools for Estate PlanningPractice → Ch. 16Basics of Behavioral FinancePractice → Ch. 17Behavioral Finance in PracticePractice → Ch. 18Risk Profiling for InvestorsPractice → Ch. 19Comparison of Products Across CategoriesPractice → Ch. 20Case StudiesPractice →
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BullWiser is a financial data and education platform, not a SEBI-registered investment adviser, and is not affiliated with NISM or SEBI. Mock tests and readiness scores are practice tools for exam preparation — they indicate preparation level and do not guarantee a pass in the official examination. For official NISM examinations and registration, visit nism.ac.in.