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Just like CPE for MFDs, SEBI through NISM has introduced a new certificate renewal examination for RIAs.
With this, NISM has launched NISM-Series-X-C: Investment Adviser Certification (Renewal) Examination. In this exam, RIAs will be required to watch around 3-hour training videos on NISM portal and appear for 1-hour examination having 50 multiple choice questions each carrying one mark. While there will be no negative marking, the passing mark to clear this exam is 50% or 25 marks.
Both training and exam will happen completely online.
So far, RIAs were required to appear for NISM XA and XB examination to renew their license.
Vishal Dhawan of Plan Ahead Wealth Advisors feels that the new exam is simple. He said, “Candidates are required to watch a few series of videos and simultaneously, appear for examination. This will save a lot of time and efforts of RIAs and focus more on their practices.”
