All NISM exams are computer-based tests conducted year-round at approved test centres across India. But the pattern differs sharply between series — especially on negative marking.
| Series | Marks | Duration | Pass | Negative |
|---|---|---|---|---|
| V-A (MF Distributor) | 100 (100 MCQs) | 2 hrs | 50% | None |
| XV (Research Analyst) | 100 (MCQs + caselets) | 2 hrs | 60% | 25% |
| X-A (IA Level 1) | 150 (90 MCQs + caselets) | 3 hrs | 60% | 25% |
| X-B (IA Level 2) | 150 (90 MCQs + caselets) | 3 hrs | 60% | 25% |
In V-A, attempt everything — a blank answer and a wrong one both score zero. In XV, X-A and X-B, the 25% penalty changes the game: eliminate two options before guessing, otherwise skip. Practising on a mock that mirrors the real interface (timer, palette, flag-and-review) removes exam-day surprises.
Computer-based tests at approved centres. Registration and scheduling happen on nism.ac.in — exams are available year-round, so you pick your own date.
Series XV, X-A and X-B carry 25% negative marking per wrong answer. Series V-A has none.
Yes — BullWiser mocks replicate the timer, question palette and flag-and-review interface for all four series. First mock needs no login.