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Series XVI · Intermediate

Commodity Derivatives

For commodity markets, MCX and physical settlement roles.

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 + GST

Validity

3 years

Why this certification matters

Approved users and sales personnel of commodity derivatives brokers need this. It is a less crowded route into markets with steady demand.

Who should take it: Commodity broker dealers, approved users, and sales staff on commodity exchanges (MCX, NCDEX).

What you get after clearing it

  • Mandatory for commodity derivatives dealing roles
  • Covers physical delivery, warehousing and hedging
  • Less competition than equity modules
  • Valuable for commodity trading houses and agri-business

Where it takes you

Commodity dealerHedging desk associateAgri-commodity analystCommodity operations executive

Commodity brokers, trading houses and agri-processors hire freshers with this module.

Niche skill, so experienced commodity dealers are relatively well paid for the competition level.

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 XVI

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
  • Secure checkout by RazorpayPay by UPI, card or net banking on Razorpay's checkout.
  • We never see card or UPI detailsPayment details are entered with Razorpay, not stored by VIA Capital.
  • Access after verified paymentAccess starts only after Razorpay's payment signature is verified.
  • 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.

4 week study plan

  1. Week 1

    Commodity basics

    Commodity types, spot vs derivatives, exchanges and participants.

  2. Week 2

    Futures and options

    Pricing, cost of carry, hedging strategies for producers and users.

  3. Week 3

    Physical market

    Warehousing, quality standards, delivery, settlement mechanisms.

  4. Week 4

    Regulation and mocks

    SEBI commodity framework, then daily mock tests.

Exam-day tips

  • Delivery and warehousing rules are unique here, do not skim them
  • Hedging cases repeat, practise producer vs consumer hedges
  • Watch the negative marking on calculation questions

Full syllabus · 5 chapters

NISM has not published a curriculum page for this series; VIA summary shown
  1. 1Chapter 1Commodity Markets Basics
    1. 1.1Introduction to commodity markets in India
    2. 1.2Types of commodities agricultural, metals, energy
    3. 1.3Spot vs futures markets
    4. 1.4Participants hedgers, speculators, arbitrageurs
    5. 1.5Role of commodity exchanges and regulators
  2. 2Chapter 2Commodity Futures & Options
    1. 2.1Futures contracts and specifications
    2. 2.2Margining and settlement in commodities
    3. 2.3Commodity options basics
    4. 2.4Hedging strategies for commodities
    5. 2.5Price discovery and risk management
  3. 3Chapter 3Commodity Specifics
    1. 3.1Agricultural commodities seasonality, storage, quality
    2. 3.2Metals and energy commodities
    3. 3.3Commodity indices and ETFs
    4. 3.4Global commodity price drivers
    5. 3.5Supply-demand analysis for commodities
  4. 4Chapter 4Trading & Clearing
    1. 4.1Order types and trading mechanics
    2. 4.2Delivery and settlement procedures
    3. 4.3Warehouse receipts and grading
    4. 4.4Open interest and volume in commodities
    5. 4.5Circuit filters and limits
  5. 5Chapter 5Regulations & Compliance
    1. 5.1SEBI regulation of commodity derivatives
    2. 5.2FMC-SEBI merger implications
    3. 5.3Client code and position limits
    4. 5.4Investor protection in commodity markets
    5. 5.5Surveillance and penalties

Quick revision · flashcards

NISM Series XVI 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 4

Market instruments and trading mechanics

Open lessons

Level 5

Risk management concepts

Open lessons

NISM Series XVI: questions people ask

What is NISM Series XVI?

It is the Commodity Derivatives certification, mandatory for approved users and sales dealers on commodity exchanges like MCX and NCDEX.

Who should take this exam?

Commodity broker dealers, approved users, and sales staff on commodity derivatives exchanges.

What is the passing score?

60 out of 100 marks (60%). There is 25% negative marking.

Is this official NISM material?

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

What commodities are covered?

Agricultural, metals, energy, and other commodity derivatives traded on Indian exchanges.

How many questions are in the NISM Series XVI exam?

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

What is the passing score for NISM Series XVI?

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

Is there negative marking in NISM Series XVI?

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

Who should take NISM Series XVI?

Commodity broker dealers, approved users, and sales staff on commodity exchanges (MCX, NCDEX).

How do I prepare for NISM Series XVI 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 · 25% negative marking. First 10 questions free, then full papers with the practice pass.

Start mock test Daily quick quiz
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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.