NISM has launched a certification meant for those who register with SEBI under SEBI Investment Adviser Regulations. The certification is called NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination which will be valid for three years. NISM will launch Level 2 of this certification as well.
An adviser will be 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 comply with SEBI (Investment Advisers) Regulations, 2013.
The Level 1 certification will consist of 100 questions of 1 mark each which should be completed in 2 hours. The passing score for the examination is 60%.
As per SEBI regulations, an investment adviser registered with SEBI should
have a professional qualification or post-graduate degree or post graduate diploma in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognized by the central government or any state government or a recognised foreign university or institution or association or
be a graduate in any discipline with an experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management.
Investment Advisers also need to have a certification in financial planning either from NISM, FPSB or any other institute or stock exchange if such certification is accredited by NISM.
