NISM Series VISEBI mandatoryTier B
Depository OperationsCertification Guide.
Covers demat account operations, settlement of trades, corporate actions, SEBI depository regulations. Essential for DP operations staff.
BeginnerDifficulty
Suggested prep: 10-15 days
25%Negative marking
Avoid blind guessing.
3 yearsValidity
Computer-Based Test (CBT)
Rank 13Priority
Operations track
01Overview
What this certification is really testing.
Ideal for
- Operations staff at depository participants
- Back-office professionals at brokerages
- CDSL/NSDL related roles
Career paths
- Depository Participant Operations
- Back Office - Securities Settlement
- CDSL/NSDL Operations
- Client Servicing at Brokerage
Mandatory for
- Associated persons of Depository Participants
- Employees of DPs dealing with client servicing
02Syllabus
Study by chapter weightage, not by guesswork.
The highest scoring chapters carry 72% of the paper. Start there, then use the low-weight chapters for polish.
Chapter weightage
High-weightage focus
Depository Participants
15%Account Opening and Maintenance
15%Settlement of Trades
15%Legal Framework and SEBI Regulations
15%Dematerialization and Rematerialization
12%03Key concepts
Concepts and formulas to keep handy.
Key concepts to remember
- Two depositories in India: NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited)
- DP (Depository Participant) is the intermediate between investor and depository - like a bank branch
- Dematerialization: converting physical shares to electronic form
- Rematerialization: converting electronic shares back to physical form (rare)
- ISIN (International Securities Identification Number): unique 12-character code for each security
- Transfer of securities between DPs happens via inter-depository transfer (IDT) mechanism
- SEBI mandated 100% dematerialization for listed company transfers
04Study plan
A clear way to study this module.
Study strategy
- Focus on Depository Participants (Ch 2, 15%) and Settlement of Trades (Ch 5, 15%)
- Know the complete flow: Account opening -> Demat -> Trading -> Settlement -> Corporate actions
- SEBI Depository Regulations 2018 (Ch 7, 15%) - focus on key provisions
- Understand corporate actions processing - bonus, split, dividend through depository
Exam-day tips
- Standard format - 100 MCQs, 120 minutes
- Process-based questions dominate - know the step-by-step procedures
- 0.25 negative marking - apply elimination strategy for regulatory questions
- This is one of the easier NISM exams - most questions test knowledge, not application
05Common mistakes
The pass mark is simple. The paper is not.
Scoring warning
Because this paper has negative marking, precision matters more than speed. Attempt the sure questions first, then return to calculations and close-call options.
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