NISM Certification Courses 2026 are professional certification examinations offered by the National Institute of Securities Markets (NISM) for different areas of the Indian securities and financial markets. These certifications are useful for students, finance professionals, mutual fund distributors, research professionals, investment advisers and other people working in financial-market-related roles.
NISM was established in 2006 by the Securities and Exchange Board of India (SEBI). It conducts certification examinations and continuing professional education programmes for people associated with securities market intermediaries.
If you are looking for the NISM Certification Courses List 2026, this guide covers popular NISM courses, eligibility, fees, exam pattern, registration and certificate validity.
NISM Certification Courses List 2026
NISM offers certification examinations covering areas such as mutual funds, derivatives, research analysis, investment advisory, securities operations, portfolio management and alternative investment funds.
Some major NISM certification areas are listed below:
| NISM Certification | Main Area | Typical Use |
| NISM Series I | Currency Derivatives | Derivatives market roles |
| NISM Series IV | Interest Rate Derivatives | Interest-rate derivatives |
| NISM Series V-A | Mutual Fund Distributors | Mutual fund distribution |
| NISM Series V-B | Mutual Fund Foundation | Mutual fund basics |
| NISM Series VI | Depository Operations | Depository operations |
| NISM Series VII | Securities Operations & Risk Management | Securities operations |
| NISM Series VIII | Equity Derivatives | Equity derivatives |
| NISM Series IX | Merchant Banking | Merchant banking |
| NISM Series X-A | Investment Adviser Level 1 | Investment advisory |
| NISM Series X-B | Investment Adviser Level 2 | Investment advisory |
| NISM Series XII | Securities Markets Foundation | Securities market basics |
| NISM Series XIII | Common Derivatives | Derivatives |
| NISM Series XV | Research Analyst | Research analysis |
| NISM Series XVI | Commodity Derivatives | Commodity markets |
| NISM Series XVII | Retirement Adviser | Retirement advisory |
| NISM Series XIX-A/B | Alternative Investment Funds | AIF distribution |
| NISM Series XXI-A/B | Portfolio Management Services | PMS |
| NISM Series XXIII | Social Impact Assessors | Social impact assessment |
| NISM Series XXIV | AML and CFT Provisions | Compliance and AML |
NISM’s current certification catalogue also includes specialised and newer examinations, so candidates should check the official list before selecting an examination.
NISM Certification Courses Fees 2026
The NISM certification fees depend on the particular examination. For example, the current NISM certification page lists a fee of ₹1,500 for NISM-Series-I: Currency Derivatives and ₹1,500 for NISM-Series-II-A. Some non-mandatory examinations have different fees.
| Certification | Exam Duration | Pass Mark | Fee* |
| Series I – Currency Derivatives | 120 minutes | 60% | ₹1,500 |
| Series II-A – RTA Corporate | 120 minutes | 50% | ₹1,500 |
| Series XVII – Retirement Adviser | 120 minutes | 60% | ₹1,500 |
| Series XII – Securities Markets Foundation | 120 minutes | 60% | ₹1,003 |
| Series XIX-A – AIF Category I & II Distributors | 120 minutes | 60% | ₹1,770 |
| Series XIX-B – AIF Category III Distributors | 120 minutes | 60% | ₹1,770 |
| Series XXIV – AML & CFT | 60 minutes | 50% | ₹885 |
*Fees shown above are based on the NISM certification information available at the time of writing and may change. Payment gateway charges may also apply.
NISM Certification Eligibility 2026
One important point about NISM certification eligibility is that requirements can differ according to the examination.
Many NISM examinations are designed for people working or planning to work in specific areas of the securities market. Students and graduates can also consider suitable certifications, particularly foundation-level examinations, depending on their career goals.
For regulated roles, the applicable SEBI regulations and the requirements of the relevant examination should always be checked before registration.
The NISM-Series-XII Securities Markets Foundation Certification Examination, for example, is intended to provide a basic understanding of the securities markets and is listed by NISM as a non-mandatory certification examination.
NISM Exam Pattern 2026
The exam pattern is not identical for every NISM certification. Candidates should check the specific examination page for the latest structure.
For example, NISM’s certification information shows that some examinations have 100 questions/marks and a 120-minute duration, while others have different structures. Negative marking also varies by examination.
A candidate should therefore check these details before preparing:
- Number of questions
- Maximum marks
- Examination duration
- Passing percentage
- Negative marking
- Certificate validity
- Applicable examination fee
- Latest workbook or study material
How to Register for NISM Certification Courses 2026
Candidates can register for NISM certification examinations through the official certification portal.
Registration Process
- Visit the official NISM certification website.
- Create an account or log in to the certification portal.
- Select the required NISM certification examination.
- Check the eligibility and examination details.
- Select an examination centre, date and available time slot.
- Pay the applicable examination fee.
- Download or save the examination confirmation.
- Prepare using the official NISM study material and syllabus.
- Appear for the examination on the scheduled date.
NISM states that its certification examinations are available in more than 150 cities across India.
Official NISM Certification Portal: Register for NISM Certification Exams
Official NISM Certifications Page: Check the latest NISM Certification Courses
NISM Certificate Validity
Certificate validity depends on the particular certification. The current NISM certification information lists three years for several examinations. NISM also provides revalidation through the relevant examination or eligible Continuing Professional Education (CPE) route, depending on the certification.
NISM also states that certificates are issued through DigiLocker.
Which NISM Certification Course Should You Choose?
The right certification depends on your career interest.
If you are interested in mutual funds, you can explore the relevant Mutual Fund Distributor or Mutual Fund Foundation certification. Those interested in stock-market research can explore the Research Analyst certification, while people interested in derivatives can consider the relevant derivatives examinations.
For investment advisory, research, operations, compliance and other regulated activities, candidates should check the exact regulatory requirement before choosing an examination.
Latest NISM Certification Updates 2026
NISM continues to update its certification framework. In 2026, its circulars include updates relating to examinations such as NISM-Series-V-D: Mutual Fund – Specialized Investment Fund Distributors, as well as newer Series XXV examinations related to persons associated with research services and investment advice.
Therefore, candidates should not rely only on an old NISM course list. Always verify the latest examination name, syllabus, fee, eligibility and registration availability on the official NISM website before applying.
FAQs on NISM Certification Courses 2026
What are NISM Certification Courses?
NISM Certification Courses are professional certification examinations covering different areas of securities and financial markets, including mutual funds, derivatives, research analysis, investment advisory and securities operations.
What is the NISM certification fee?
The fee depends on the examination. Current NISM listings show different fees for different certifications, so candidates should check the particular exam before payment.
Is NISM certification useful for a finance career?
NISM certifications can provide knowledge and, for certain regulated roles, may be part of the applicable certification requirements. The exact requirement depends on the job and regulatory framework.
Where can I register for a NISM exam?
Registration is available through the official NISM certification portal at cert.nism.ac.in.
How long is a NISM certificate valid?
Validity depends on the certification. Several NISM examinations currently list a three-year validity period.
Conclusion
The NISM Certification Courses List 2026 includes examinations across mutual funds, derivatives, securities operations, investment advisory, research analysis, retirement advisory, AIFs, PMS and other financial-market areas. Before selecting a course, compare its eligibility, syllabus, exam pattern, fee and regulatory purpose.
Since NISM regularly introduces or revises certification examinations, candidates should always verify the latest information on the official NISM portal before registration.
