NISM Series 15 Research Analyst Registration, Eligibility & Exam Pattern 2026

The NISM Series 15 Research Analyst registration, eligibility & exam pattern 2026 guide covers everything you need to know before you book your seat. Whether you are a fresh graduate or a working professional, this post breaks down the requirements, registration steps, and exam structure in plain language.

Who Can Apply? Eligibility Criteria for NISM Series 15 Research Analyst

• Educational qualification – Minimum a bachelor’s degree in any discipline from a recognized university.
• Age limit – No upper age restriction; candidates must be at least 18 years old on the exam date.
• Work experience – Not mandatory, but relevant finance or equity research experience is advantageous.
• Citizenship – Indian nationals, NRIs, and foreign nationals with a valid Indian address can apply.

How to Register for NISM Series 15 Research Analyst Exam 2026

1. Visit the official NISM portal (www.nism.ac.in) and create a login ID.
2. Fill the online application form with personal, educational, and contact details.
3. Upload a recent passport‑size photograph and signature in the prescribed format.
4. Pay the examination fee (₹1,500 + GST) via net banking, UPI, or debit/credit card.
5. Submit the form and download the acknowledgment receipt for future reference.

NISM Series 15 Research Analyst Exam Pattern 2026

Paper	No. of Questions	Total Marks	Duration	Negative Marking
Paper 1 – Securities Market	100	100	2 hours	0.25 mark per wrong answer
Paper 2 – Research Analyst	100	100	2 hours	0.25 mark per wrong answer

• Both papers are computer‑based and conducted in a single session with a short break.
• A minimum of 60 % aggregate (120/200) is required to pass.

Syllabus Overview & Weightage

Topic	Approx. Weightage (Paper 1)	Approx. Weightage (Paper 2)
Indian Securities Market Structure	15 %	–
Regulatory Framework (SEBI, RBI)	15 %	10 %
Equity Research Process	–	25 %
Financial Statement Analysis	10 %	20 %
Valuation Techniques	10 %	20 %
Report Writing & Ethics	5 %	15 %
Current Affairs & Market Updates	5 %	10 %

Practical Preparation Tips for NISM Series 15

• Create a 30‑day study calendar allocating 1.5 hours daily; focus on high‑weightage topics first.
• Solve at least 5 full‑length mock tests under timed conditions to build stamina and identify weak areas.
• Maintain a formula sheet for valuation models (DCF, relative valuation) and key ratios; revise it weekly.
• Read SEBI circulars (last 12 months) – they frequently appear in the regulatory section.
• Join a peer‑discussion group (Telegram/Discord) to clarify doubts and share concise notes.

Frequently Asked Questions (FAQ)

Q1: What is the validity of the NISM Series 15 certification?
A: The certification is valid for three years from the date of passing; renewal requires a refresher course or re‑examination.

Q2: Can I appear for Paper 1 and Paper 2 on different dates?
A: No. Both papers are scheduled on the same day with a mandatory break; you must attempt them together.

Q3: Is there any exemption for CFA or CA candidates?
A: NISM does not grant exemptions based on other professional qualifications; all candidates must clear both papers.

Q4: How many attempts are allowed for the exam?
A: There is no limit on attempts, but each attempt requires a fresh registration and fee payment.

Q5: What is the passing score for each individual paper?
A: While the overall aggregate is 60 %, each paper typically requires minimum 50 % (50/100) to avoid a compartmental failure.

Q6: Where can I download the official syllabus PDF?
A: The latest syllabus PDF is available on the NISM website under “Examinations → Series 15 – Research Analyst”.

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