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Series XXIII · Intermediate

Social Impact Assessors

Benchmark for social impact assessors working with the Social Stock Exchange framework.

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

Benchmark for social impact assessors working with the Social Stock Exchange framework.

Who should take it: Social auditors and impact assessors.

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 XXIII

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.

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One simple package

…

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 assessing and reporting social impact.

Social impact assessors

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 · 11 chapters

Matches official NISM curriculum · checked 30 September 2026
  1. 1Chapter 1Introduction to Social Sector Ecosystem
    1. 1.1Overview of Social Sector in India
    2. 1.2Sustainable Development Goals (SDGs)
    3. 1.3Concept of Social Enterprises (SE)
    4. 1.4Taxonomy related to Social Enterprises
    5. 1.5Social Intervention
    6. 1.6International standards applicable for social development
    7. 1.7Challenges of comparability faced by social sector organisations
    8. 1.8Social Sector Landscape in India
    9. 1.9Social Sector Inequities
    10. 1.10Indian Financial Markets
    11. 1.11Type of Securities
  2. 2Chapter 2Social Stock Exchange: Introduction, Funding Structures and Instruments
    1. 2.1Concept of Social Stock Exchange
    2. 2.2Stakeholders of Social Stock Exchange
    3. 2.3Funding Structures
  3. 3Chapter 3Registration and Listing on Social Stock Exchanges
    1. 3.1Registration process on Social Stock Exchanges
    2. 3.2Rights, Obligations and Disclosures Document
    3. 3.3Key Listing Guidelines
  4. 4Chapter 4Understanding Logic Model in Social Programs for Social Impact Assessment
    1. 4.1Logical Framework Analysis for Social Enterprises
    2. 4.2Key Components of LFA
    3. 4.3The flow of Project/ Program design under Logic Model
    4. 4.4Developing the Logical Framework Matrix
    5. 4.5Logical Framework Matrix
  5. 5Chapter 5Social Impact Assessment and Social Impact Assessors
    1. 5.1Evolution of Social Impact Assessment
    2. 5.2Principles of Impact Assessment
    3. 5.3Social Impact Assessors
    4. 5.4Social Impact Assessment (Audit) Standards
    5. 5.5List of Social Impact Assessment (Audit) Standards (SAS)
    6. 5.6Social Impact Assessment Standard (SAS) Framework
    7. 5.7Social Impact Assessment Process
    8. 5.8Impact Assessment Evidence
    9. 5.9Social Impact Assessment Engagement
    10. 5.10Social Impact Assessment Quality Control for Social Impact Assessor/ Audit firm
    11. 5.11Field level research agency and/or subject matter experts
    12. 5.12Challenges related to Social Impact Assessment
    13. 5.13Use of Technology in Social Impact Assessment
    14. 5.14Social Impact Assessment Report
    15. 5.15Impact Assessment Conclusions
  6. 6Chapter 6Social Impact Assessment Frameworks, Techniques and Standards
    1. 6.1Introduction to Social Impact Assessment Frameworks
    2. 6.2Other Guidelines and Tools for Impact Assessment
  7. 7Chapter 7Social Impact Assessment Reporting
    1. 7.1Social Impact Assessment
    2. 7.2Different organisational models for structuring evaluation
    3. 7.3Impact Reporting
    4. 7.4Issues or Challenges in conducting SIA
  8. 8Chapter 8Social Impact Assessment (Case Studies)
    1. 8.1Case Study on Draft Social impact assessment Standard (SAS) 500: Ensuring environmental sustainability, addressing climate change including mitigation and adaptation, forest and wildlife conservation
    2. 8.2Case Study on Draft Social impact assessment Standard (SAS) 200: Promoting health care including mental healthcare, sanitation and making available safe drinking water
    3. 8.3Case Study on Draft Social impact assessment Standard (SAS) 400: Promoting gender equality, empowerment of women and LGBTQIA+ communities
    4. 8.4Case Study on Draft Social Impact Assessment Standard (SAS) 1300: Promotion of Financial Inclusion
    5. 8.5Case study on Affordable Housing on Draft Social Impact Assessment Standard (SAS) 1100: Slum area development, affordable housing and other interventions to build sustainable and resilient cities
  9. 9Chapter 9Disclosure Norms, Reporting Requirements by Social Impact Assessor and Penalties
    1. 9.1Disclosures as per SEBI ICDR Regulations
    2. 9.2Disclosures norms under SEBI LODR Regulations
    3. 9.3Penalties as per the SEBI Act, 1992
  10. 10Chapter 10Taxation
    1. 10.1Introduction
    2. 10.2Deduction under section 80G of Income Tax Act
    3. 10.3Exemptions for Social Enterprises
  11. 11Chapter 11Key Regulations
    1. 11.1SEBI Act 1992
    2. 11.2SEBI Issue of Capital and Disclosure Requirements Regulations, 2018
    3. 11.3SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
    4. 11.4Prevention of Money-Laundering Act, 2002
    5. 11.5SEBI Prevention of Fraudulent and Unfair Trade Practices Regulations, 2003
    6. 11.6NISM Series XXIII: Social Impact Assessors Certification Examination
    7. 11.7Important Links
    8. 11.8Register for Certification Exam
    9. 11.9Exam Center
    10. 11.10Study 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 XXIII flashcards

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

NISM Series XXIII: questions people ask

What is NISM Series XXIII?

NISM-Series-XXIII: Social Impact Assessors Certification Examination. Benchmark for social impact assessors working with the Social Stock Exchange framework.

What is the exam pattern?

100 questions (85 MCQs + 3 caselets of 5 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 XXIII exam?

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

What is the passing score for NISM Series XXIII?

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

Is there negative marking in NISM Series XXIII?

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

Who should take NISM Series XXIII?

Social auditors and impact assessors.

How do I prepare for NISM Series XXIII 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.

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