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NISM Series X-A: Investment Adviser (Level 1)
NISM certification for investment advisers as mandated by SEBI Investment Advisers Regulations.
Next Exam Date
Jan 01, 2026
Table of Contents
About NISM Series X-A
NISM Series X-A Investment Adviser (Level 1) certification is mandatory for individuals providing investment advisory services under SEBI regulations.
Key Exam Details
Conducting Body
National Institute of Securities Markets (NISM)
Exam Type
Computer-based Test
Stages
Single exam → Certificate (valid 3 years)
Total Questions
100 MCQ
Duration
2 hours
Negative Marking
No negative marking
Passing Criteria
60% marks
Exam Fee
₹1500 + GST
Frequency
Daily (book slot anytime)
Syllabus
Financial Planning, Securities Markets, Mutual Funds, Insurance, Retirement Planning, Tax Planning, Regulatory Aspects
Registration
Online at certifications.nism.ac.in
Eligibility Criteria
Graduate with relevant experience or postgraduate in finance
Exam Pattern
Stage 1100 MCQ (2 hours)
Passing60%
Stage 3Computer-based
Syllabus
NISM Series X-A: Investment Adviser (Level 1)
Chapter 1: Introduction To Personal Financial Planning
Chapter 2: Time Value Of Money
Chapter 3: Evaluating The Financial Position Of Clients
Chapter 4: Debt Management And Loans
Chapter 5: Introduction To The Indian Financial Markets
Chapter 6: Securities Market Segments
Chapter 7: Introduction To Investment
Chapter 8: Investing In Stocks
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