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Series XII · Beginner

Securities Markets Foundation

The best first certificate for a complete beginner.

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

None

Exam fee

₹1,770 (incl. GST)

Validity

3 years

Why this certification matters

It is not mandatory for a job, but it gives students a clean, examinable foundation of the Indian securities market and looks credible on a fresher resume.

Who should take it: Students, beginners, career switchers, and anyone new to Indian securities markets.

What you get after clearing it

  • No prerequisites, ideal starting point for students
  • Covers the entire securities market landscape
  • Makes later modules far easier to clear
  • Good resume signal for internships

Where it takes you

Finance internBroking sales traineeOperations traineeResearch trainee

Best used by college students in first or second year before targeting a specialised module.

Treated as a foundation credential rather than a pay driver, it helps you get shortlisted.

Explore finance careers

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

Simple screens, small steps, no clutter.

Every answer explained

If you get one wrong, you learn why.

Help on every question

Report anything confusing, our team fixes it.

Honest

Independent practice. We never claim to be NISM or promise a pass.

Practice pass · NISM Series XII

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
  • Real exam screen with timer and question palette

Why we charge a small amount

This is not the NISM exam fee. It helps us run the platform: our research team writing and checking questions, keeping explanations accurate, and the technology behind the study book and exam screen.

ResearchQuestion writingTechnology
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  • Payment record in your accountYour payment and expiry date are saved to your VIA Capital account.

One simple package

…

11 days access · one series · incl. taxes

Try 10 questions free Start studying

The official NISM exam fee is paid separately to NISM.

2 week study plan

  1. Week 1

    Markets and products

    Primary and secondary markets, equity, debt, derivatives, mutual funds.

  2. Week 2

    Regulation and mocks

    SEBI, exchanges, depositories, investor protection, then timed mocks.

Exam-day tips

  • This is definition heavy, use flashcards daily
  • No negative marking, attempt every question
  • Two full mocks above 70% means you are ready

Full syllabus · 6 chapters

Matches official NISM curriculum · checked 30 September 2026
  1. 1Chapter 1Understanding Securities Markets and Performance
    1. 1.1Securities Markets
    2. 1.2Securities
    3. 1.3Securities Markets: Structure and Participants
    4. 1.4Role of Securities Markets
    5. 1.5Technological advancements in the securities market
  2. 2Chapter 2Securities: Types, Features and Concepts of Asset Allocation and Investing
    1. 2.1Securities available in the securities market
    2. 2.2Choice between Equity and Debt Financing for Issuers
    3. 2.3Characteristics and role of equity capital
    4. 2.4Characteristics and role of Debt securities
    5. 2.5Choosing between Debt and Equity Investment Avenues
    6. 2.6Hybrid Instruments
    7. 2.7Characteristics and role of Commodities as an asset class
    8. 2.8Derivatives as investments
    9. 2.9Asset Allocation and Diversification
    10. 2.10Understanding the factors underlying the investment process
    11. 2.11Various aspects of investing in Equity
    12. 2.12Equity Investing Process
    13. 2.13Various aspects of investing in Debt securities
    14. 2.14Debt Investing Process
  3. 3Chapter 3Primary Markets
    1. 3.1Primary Market: Definition and Functions
    2. 3.2Primary Vs Secondary Markets
    3. 3.3Intermediaries in Primary Market
    4. 3.4Types of Issues
    5. 3.5Types of Issuers
    6. 3.6Types of Investors
    7. 3.7Regulatory Framework for Primary Markets
    8. 3.8Types of Public Issue of Equity Shares
    9. 3.9Pricing a Public Issue of Shares
    10. 3.10Public Issue Process of equities
    11. 3.11Prospectus
    12. 3.12Applying to a Public Issue
    13. 3.13Listing of Shares
    14. 3.14Rights Issue of Shares
    15. 3.15Regulatory requirements for a Public Issue of Debt Securities
    16. 3.16Public issue process for debt securities
    17. 3.17Private Placements in Equity and Debt
  4. 4Chapter 4Secondary Markets
    1. 4.1Role and Function of the Secondary Market
    2. 4.2Types of secondary markets for different securities
    3. 4.3Market Structure and Participants
    4. 4.4Brokers and Client Acquisition
    5. 4.5Trade Execution
    6. 4.6Clearing and Settlement of Trades
    7. 4.7Trading and settlement process from investor’s point of view
    8. 4.8Market Information and Regulation
    9. 4.9Risk Management Systems
    10. 4.10Rights, Obligations and Grievance Redressal
    11. 4.11Secondary market trading and reporting for debt securities
  5. 5Chapter 5Mutual Funds
    1. 5.1Meaning and Description of a Mutual Fund
    2. 5.2Terms and Concepts Related to Mutual Funds
    3. 5.3Types of Open-ended Mutual Fund Products
    4. 5.4Types of Closed ended Mutual Fund Schemes
    5. 5.5Investment approaches, active and passive
    6. 5.6Processes for Investing in Mutual Funds
    7. 5.7Systematic Transactions
    8. 5.8Switches
    9. 5.9Reading Mutual Fund Information
    10. 5.10Benefits and Costs of Investing in Mutual Funds
    11. 5.11Regulation of Mutual Funds
    12. 5.12Investor Service Standards
    13. 5.13Specialized Investment Fund
  6. 6Chapter 6Derivative Markets
    1. 6.1Derivatives
    2. 6.2Underlying concepts in Derivatives
    3. 6.3Types of Derivative Products
    4. 6.4Structure of Derivative Markets
    5. 6.5Trading and Settlement Process: Equity Futures
    6. 6.6Risk Management in Derivative Markets
    7. 6.7Application of Derivatives Products in Risk Management
    8. 6.8Market Indicators
    9. 6.9Securities Markets Foundation
    10. 6.10Important Links
    11. 6.11Register for Certification Exam
    12. 6.12Exam Center
    13. 6.13Study Material Download

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 XII flashcards

Flip 10 cards free as a demo. The practice pass opens every card, chapter by chapter.

Learn it first in VIA Capital Academy

Level 0

Absolute basics of money and markets

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Level 3

How the stock market works

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NISM Series XII: questions people ask

What is NISM Series XII?

It is a foundational certification covering the basics of Indian securities markets, ideal for beginners and students.

Who should take this exam?

Students, beginners, career switchers, and anyone who wants a broad overview of securities markets before specializing.

What is the passing score?

60 out of 100 marks (60%). There is no negative marking.

Is this official NISM material?

No. These are independent practice questions. Refer to the official NISM workbook before the exam.

Is Series XII mandatory?

No, it is not mandatory for any specific role, but it is a good entry-level credential for market awareness.

How many questions are in the NISM Series XII exam?

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

What is the passing score for NISM Series XII?

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

Is there negative marking in NISM Series XII?

No. NISM does not deduct marks for wrong answers in this exam.

Who should take NISM Series XII?

Students, beginners, career switchers, and anyone new to Indian securities markets.

How do I prepare for NISM Series XII 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.

Ready to test yourself?

100 questions · 120 minutes · no negative marking. First 10 questions free, then full papers with the practice pass.

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Ready to book the real exam?

How to register on the official NISM website

VIA Capital does not take exam registrations. Enrolment, fees and certificates are handled only by NISM. Follow these steps on their website.

  1. 1

    Create your NISM account

    Register on the official NISM certification portal with your name exactly as on your ID, plus email and mobile.

  2. 2

    Choose the examination

    Select the series you want (for example, Series V-A) and read the current test objectives and rules.

  3. 3

    Pick a test centre and date

    Choose an available test centre or mode, date and time slot.

  4. 4

    Pay the examination fee

    Pay the fee shown on the NISM portal. Fees can change, so rely only on the amount NISM shows.

  5. 5

    Keep your confirmation

    Save the enrolment confirmation and carry a valid photo ID on exam day.

Go to NISM certification portal Official NISM website

Opens nism.ac.in in a new tab. Always check current fees, rules and eligibility there.