NISM Series I : Currency Derivatives Certification Examination (NISM Series I: CD Examination) is the required certification for approved users and sales personnel of trading members of the Currency Derivatives Segment of recognized stock exchanges for the purpose of sub-regulation (2) of regulation 16L of the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992.

NISM Series II A : Registrars and Transfer Agents (Corporate) Certification Examination (NISM Series IIA: RTA (Corp) Examination) is mandated for associated persons already engaged or employed or on being engaged or employed by a Registrar to an Issue or Share Transfer Agent for the purpose of performing any of the following activities, namely:-

1. dealing or interacting with the investors or issuers;
2. dealing, collecting or processing applications from the applicants;
3. dealing with matters relating to corporate actions, refunds or redemptions, repurchase of securities;
4. handling redressal of investors’ grievances;
5. responsible for internal control and risk management;
6. responsible for compliance of securities laws;
7. maintenance of books and records pertaining to the above activities.

NISM Series II B : Registrars and Transfer Agents (Mutual Fund) Certification Examination (NISM Series IIB: RTA (MF) Examination) associated persons already engaged or employed or on being engaged or employed by a Registrar to an Issue or Share Transfer Agent for the purpose of performing any of the following activities, namely:-

1. dealing or interacting with the investors or issuers;
2. dealing, collecting or processing applications from the applicants;
3. dealing with matters relating to corporate actions, refunds or redemptions, repurchase of securities;
4. handling redressal of investors’ grievances;
5. responsible for internal control and risk management;
6. responsible for compliance of securities laws;
7. maintenance of books and records pertaining to the above activities.

NISM Series III A : Securities Intermediaries Compliance (Non-Fund) (NISM-Series-III A: Securities Intermediaries Compliance (Non-Fund) Certification Examination) is mandated for associated persons functioning as compliance officers of intermediaries registered with the Board as stock brokers, or depository participants, or merchant bankers, or underwriters, or bankers to the Issue, or debenture trustees or credit rating agencies.

NISM Series IV : Interest Rates Derivatives Certification Examination (NISM Series IV: IRD Examination) is required for approved users and sales personnel of the trading members who are registered as such in the currency derivatives segment of a recognized  stock exchange and trading in interest rate derivatives.

NISM Series V A : Mutual Fund Distributors Certification Examination (NISM Series VA: MFD Examination) is mandated for the following category of associated persons, i.e., distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products. However, if the said associated person possesses a valid certificate by passing before June 01, 2010, the AMFI Mutual Fund (Advisors) Module, he shall be exempted from the requirement of the aforementioned NISM certification examination.

NISM Series V B : Mutual Fund Foundation Certification Examination:The examination seeks to create common minimum knowledge benchmark for new cadre of mutual fund distributors, as per SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, involved in selling and distributing simple and performing mutual fund schemes:

Postal agents, retired government and semi-government officials (class III and above or equivalent) with a service of at least 10 years, retired teachers with a service of at least 10 years, retired bank officers with a service of at least 10 years, and other similar persons (such as Bank correspondents) as may be notified by AMFI/AMC from time to time.

NISM Series VI : Depository Operations Certification Examination (NISM Series VI: DOC Examination) is mandated associated persons engaged or employed by a registered depository participant in:

    (a) dealing or interacting with clients;
    (b) dealing with securities of clients;
    (c) handling redressal of investor grievances;
    (d) internal control or risk management;
    (e) activities having a bearing on operational risk; or
    (f) maintenance of books and records pertaining to the above activities.

NISM Series VII : Securities Operations and Risk Management Certification Examination (NISM Series VII: SORM Examination) is mandated for persons associated with a registered stock-broker/trading member/clearing member in recognised stock exchanges, who are involved in, or deal with, any of the following, namely:-

    (a) assets or funds of investors or clients,
    (b) redressal of investor grievances,
    (c) internal control or risk management, and
    (d) activities having a bearing on operational risk.

NISM Series VIII : Equity Derivative Certification Examination (NISM- Series-VIII: Equity Derivative Certification Examination) is mandated for associated persons functioning as approved users and sales personnel of the trading members of an equity derivative exchange or equity derivative segment of a recognized stock exchange

NISM Series-IX: Merchant Banking Certification Examination: The examinations seeks to create a common minimum knowledge benchmark for employees working with SEBI registered Merchant Bankers, who perform SEBI regulated activities such as initial public offer, further public offer, Open Offer, Buy-back, Delisting; deal with the issuers in connection with activities mentioned in (a) above; deal with intermediaries associated with activities mentioned in (a) above; act as designated Compliance Officer dealing with the activities mentioned in (a) above; submit Due Diligence Certificates to SEBI in connection with the activities mentioned in (a) above;

NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination: The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as an investment adviser and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013 and offering investment advisory services. An associated person shall be required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination) to fulfill the requirements under Regulation 7(2) of the SEBI (Investment Advisers) Regulations, 2013.