NISM - Series-XV: Research Analyst
The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as research analysts under SEBI (Research Analyst)Regulations, 2014, individuals employed as research analysts and partners of a research analyst, engaged in the preparation and/or publication of research reports or research analyses. An associated person shall be required to pass the NISM-Series-XV: Research Analyst Certification Examination to fulfill the requirements specified under Regulation 7(2) of the SEBI (Research Analysts) Regulations, 2014. This certification aims to enhance the quality of services provided by research analysts in the financial services industry.
Examination Objectives
On successful completion of the examination, the candidate should:
- Know the basics of Indian securities markets and different terminologies used in equity and debt markets.
- Know about the top-down and bottom-up approaches to fundamental research.
- Know the basic principles for micro and macro-economic analysis, the sources of different information for analysis, and the various macroeconomic variables affecting the analysis.
- Know the key industry drivers and sources of information for industry analysis.
- Understand the qualitative and quantitative dimensions with regard to company analysis.
- Know about the fundamentals of risk and return, valuation principles, and the philosophy of various corporate actions.
- Understand the qualities of a good research report.
Type of Questions | Number of Questions | Marks per Question | Total Marks |
---|---|---|---|
Multiple Choice | 92 | 1 | 92 |
Case-based | 8 | 1 | 8 |
Total | 100 | N/A | 100 |
Exam Duration | Passing Score | Negative Marking |
---|---|---|
2 Hours or 120 Mins | 60 marks (60%) | 25% of marks assigned to each wrong answer |
How to register and take the examination
To find out more and register for the examination please visit www.nism.ac.in
Syllabus Outline with Weightages
Chapter No. | Chapter Name | Weightage |
---|---|---|
Chapter 1 | Introduction to Research Analyst Profession | 3 |
Chapter 2 | Introduction to Securities Market | 4 |
Chapter 3 | Terminology in Equity and Debt Markets | 4 |
Chapter 4 | Fundamentals of Research | 5 |
Chapter 5 | Economic Analysis | 10 |
Chapter 6 | Industry Analysis | 10 |
Chapter 7 | Company Analysis – Business and Governance | 8 |
Chapter 8 | Company Analysis – Financial Analysis | 16 |
Chapter 9 | Corporate Actions | 5 |
Chapter 10 | Valuation Principles | 16 |
Chapter 11 | Fundamentals of Risk and Return | 5 |
Chapter 12 | Qualities of a Good Research Report | 4 |
Chapter 13 | Legal and Regulatory Environment | 10 |