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Series III-A · Advanced

Securities Intermediaries Compliance (Non-Fund)

Knowledge benchmark for compliance staff at non-fund SEBI intermediaries.

Educational content only. VIA Capital does not provide buy/sell calls, tips, or personalized advice. Always do your own research.

Questions

100

Duration

120 min

Pass mark

60%

Negative marking

25%

Exam fee

₹1,500 + payment gateway charges

Validity

3 years

Why this certification matters

Knowledge benchmark for compliance staff at non-fund SEBI intermediaries.

Who should take it: Compliance officers and compliance teams.

How VIA Capital preparation works

One clear path. Built for students, and built for discipline.

  1. Step 1

    Read

    Slide through the study book chapter by chapter.

  2. Step 2

    Practise

    Chapter questions with answer and explanation.

  3. Step 3

    Chapter tests

    Beginner and advanced tests for each chapter.

  4. Step 4

    Full mock sets

    100-question papers in a real exam screen.

  5. Step 5

    Review

    See every mistake and why, then improve.

Why prepare with VIA Capital

Student first

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Practice pass · NISM Series III-A

Everything you need to prepare, in one pass

  • Digital study book, read chapter by chapter
  • Chapter-wise questions to understand every chapter
  • Chapter tests, beginner and advanced
  • Full mock sets as questions are added
  • Answer and explanation for every question
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11 days access · one series · incl. taxes

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The official NISM exam fee is paid separately to NISM.

Where it takes you

Covers compliance duties at brokers and other non-fund intermediaries.

Compliance officersCompliance teams

Roles are common examples. Whether a certification is required for a role depends on SEBI rules and the employer; confirm on nism.ac.in.

Full syllabus · 23 chapters

Matches official NISM curriculum · checked 30 September 2026
  1. 1Chapter 1Introduction to the Financial System
    1. 1.1Financial System
    2. 1.2Financial Markets Infrastructure Institutions (MIIs)
    3. 1.3Financial Intermediaries
    4. 1.4Financial Securities
  2. 2Chapter 2Regulatory Framework, General View
    1. 2.1Regulatory System
    2. 2.2Financial Market Regulators
    3. 2.3Other Agencies in the Financial Market
    4. 2.4Appellate Authority
    5. 2.5Legislative Framework Governing the Financial Market
    6. 2.6International Financial Services Centre (IFSC)
  3. 3Chapter 3Introduction to Compliance
    1. 3.1Compliance, Introduction
    2. 3.2Compliance Requirements under the SEBI (CAPSM) Regulations, 2007
  4. 4Chapter 4Securities and Exchange Board of India Act, 1992
    1. 4.1Salient Features of SEBI Act, 1992
  5. 5Chapter 5Securities Contracts (Regulation) Act, 1956 and Rules, 1957
    1. 5.1Securities Contracts (Regulation) Act, 1956
    2. 5.2Securities Contracts (Regulation) Rules, 1957
  6. 6Chapter 6SEBI (Intermediaries) Regulations, 2008
    1. 6.1Introduction
    2. 6.2General Obligations of Intermediaries
    3. 6.3Inspection and Disciplinary Proceedings
    4. 6.4Action in Case of Default and Manner of Suspension and Cancellation of Certificate
    5. 6.5Code of Conduct
  7. 7Chapter 7SEBI (Prohibition of Insider Trading) Regulations, 2015
    1. 7.1Introduction to the Insider Trading Regulations
    2. 7.2Code of Conduct
    3. 7.3Role of Compliance Officer
  8. 8Chapter 8SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003
    1. 8.1Introduction
    2. 8.2Prohibition of Fraudulent and Unfair Trade Practices
    3. 8.3Investigation
  9. 9Chapter 9Prevention of Money Laundering Act, 2002
    1. 9.1Introduction
    2. 9.2Highlights of PMLA, 2002
    3. 9.3Highlights of SEBI Master Circular on Guidelines on AML and CFT
  10. 10Chapter 10SEBI (KYC Registration Agency) Regulations, 2011
    1. 10.1Introduction
    2. 10.2Registration as a KRA
    3. 10.3Obligations on Surrendering Certificate of Registration
    4. 10.4Functions and Obligations of KRA and Intermediary
    5. 10.5Code of Conduct for KRA
    6. 10.6Guidelines for Intermediaries, KRAs and In-person Verification
  11. 11Chapter 11SEBI (Foreign Portfolio Investors) Regulations, 2019
    1. 11.1Eligibility Criteria of Foreign Portfolio Investors
    2. 11.2Categories of Foreign Portfolio Investor
    3. 11.3Application to act as a designated depository participant
    4. 11.4Investment Conditions and Restrictions
    5. 11.5Suspension, cancellation or surrender of certificate
    6. 11.6Conditions for Issuance of Offshore Derivative Instruments
    7. 11.7Code of Conduct for foreign portfolio investor
  12. 12Chapter 12SEBI (Stock Brokers) Regulations, 1992
    1. 12.1Introduction to SEBI (Stock Brokers) Regulations, 1992
    2. 12.2Direct Market Access
    3. 12.3Algorithmic Trading
    4. 12.4Margin Trading
    5. 12.5Authorised Persons
    6. 12.6Permitting Underwriting activities by Stockbrokers
    7. 12.7SEBI (Portfolio Managers) Regulations, 2020
  13. 13Chapter 13SEBI (Merchant Bankers) Regulations 1992, Etc.
    1. 13.1Introduction
    2. 13.2SEBI (Merchant Bankers) Regulations, 1992
    3. 13.3SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
    4. 13.4SEBI (Bankers to an Issue) Regulations 1994
  14. 14Chapter 14SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018
    1. 14.1Applicability of ICDR Regulations
    2. 14.2Initial Public Offer (IPO) and Rights Issue
    3. 14.3Role as Advisors
    4. 14.4Due Diligence and Compliances
    5. 14.5Role as an Underwriter
    6. 14.6SEBI Circular on Rights Issue
    7. 14.7General Obligations of Merchant Bankers with respect to Public and Rights Issue
  15. 15Chapter 15Depositories Act 1996
    1. 15.1Introduction
    2. 15.2Rights and Obligations of Depositories
    3. 15.3Enquiry and Inspection
    4. 15.4Miscellaneous Issues
  16. 16Chapter 16SEBI (Depositories and Participants) Regulations 2018
    1. 16.1Registration of a Depository Participant
    2. 16.2Rights and Obligation
    3. 16.3Action in case of Default
    4. 16.4Code of Conduct for Participant
  17. 17Chapter 17SEBI (Registrar to an Issue and Share Transfer Agents) Regulations, 1993
    1. 17.1Who is Registrar to an Issue and Share Transfer Agent?
    2. 17.2General Obligations and Responsibilities
    3. 17.3Code of Conduct for Registrars to an Issue and Share Transfer Agents
  18. 18Chapter 18SEBI (Research Analyst) Regulations, 2014
    1. 18.1Introduction
    2. 18.2Management of Conflict of Interest and Disclosure requirements
    3. 18.3General Responsibilities
    4. 18.4Maintenance of Record
    5. 18.5Role of Compliance Officer
  19. 19Chapter 19SEBI (Investment Advisers) Regulations, 2013
    1. 19.1Introduction
    2. 19.2General Responsibilities
    3. 19.3Risk Profiling and Suitability of Client
    4. 19.4Disclosures by Investment Adviser
    5. 19.5Client level segregation of advisory and distribution activities
    6. 19.6Implementation of advice or execution
    7. 19.7Maintenance of Record
    8. 19.8Appointment of Compliance Officer
    9. 19.9Code of Conduct for Investment Advisers
    10. 19.10Operating guidelines of IAs in IFSC
  20. 20Chapter 20SEBI (Debenture Trustees) Regulations, 1993
    1. 20.1Registration as Debenture Trustee
    2. 20.2Capital Adequacy Requirements
    3. 20.3Responsibilities and Obligations of Debenture Trustees
    4. 20.4Code of Conduct for the Debenture Trustees
    5. 20.5Monitoring and Disclosure Requirement
    6. 20.6Appointment of Compliance Officer
  21. 21Chapter 21SEBI (Credit Rating Agencies) Regulations, 1999
    1. 21.1Registration as a Credit Rating Agency
    2. 21.2General Obligations of Credit Rating Agencies
    3. 21.3Appointment of Compliance Officer
    4. 21.4Steps on auditor’s report
    5. 21.5Confidentiality
    6. 21.6Rating process
    7. 21.7Restrictions on Rating of Securities issued by Promoters
    8. 21.8Code of conduct of the Credit Rating Agencies
  22. 22Chapter 22SEBI (Custodian) Regulations, 1996
    1. 22.1Custodian and Custodial Services
    2. 22.2Registration and Eligibility
    3. 22.3General Obligations and Responsibilities of Custodians
    4. 22.4Appointment of Compliance Officer
    5. 22.5Code of Conduct
  23. 23Chapter 23Proxy Advisors
    1. 23.1Introduction
    2. 23.2Impact of Proxy Advisors on Corporate governance
    3. 23.3Internal Controls and Disclosures under Research Analyst Regulations, 2014
    4. 23.4Procedural guidelines prescribed for Proxy Advisors
    5. 23.5Grievance redressal between listed entities and proxy advisers

Source: NISM curriculum page. Chapter names and order follow NISM; sub-topic numbering (1.1, 1.2) is added by VIA Capital for easy reading. NISM may revise its curriculum; always confirm on nism.ac.in.

Quick revision · flashcards

NISM Series III-A flashcards

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NISM Series III-A: questions people ask

What is NISM Series III-A?

NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination. Knowledge benchmark for compliance staff at non-fund SEBI intermediaries.

What is the exam pattern?

100 questions, 100 marks, 120 minutes. Pass mark 60%. Negative marking of 25% of the marks for a question.

What is the fee and validity?

NISM lists the fee as ₹1,500 plus payment gateway charges. The certificate is valid for 3 years and is issued only if your PAN is updated. Always confirm on nism.ac.in.

Is VIA Capital official NISM material?

No. VIA Capital is an independent preparation platform. Use the official NISM workbook and register only on the NISM website.

How many questions are in the NISM Series III-A exam?

NISM lists 100 questions for 100 marks, to be answered in 120 minutes.

What is the passing score for NISM Series III-A?

You need 60% (60 of 100 marks) to pass.

Is there negative marking in NISM Series III-A?

Yes. 25% of the marks for a question are deducted for each wrong answer, so guessing has a cost.

Who should take NISM Series III-A?

Compliance officers and compliance teams.

How do I prepare for NISM Series III-A on VIA Capital?

Follow the five steps: read each chapter, practise questions, pass the chapter tests, take the full mock tests, then sit the final practice exam. Your progress is saved to your account.

Where do I register for the real exam?

Only on the official NISM website, nism.ac.in. VIA Capital is an independent preparation platform and cannot book or conduct the NISM exam.

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100 questions · 120 minutes · 25% negative marking. First 10 questions free, then full papers with the practice pass.

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