NATIONAL INSTITUTE OF SECURITIES MARKETS

Established by the Securities and Exchange Board of India

AnnexureISyllabusOutline
NISMSeriesXV:ResearchAnalystCertificationExamination
ObjectiveoftheExamination
NISMSeriesXV: Research Analyst Certification Examination seeks to create a common
minimum knowledge benchmark for all associated persons registered as research analyst
underSEBI(ResearchAnalyst)Regulations,2014,individualsemployedasresearchanalyst
andpartnersofaresearchanalyst.
Thecertificationaimstoenhancethequalityofservicesprovidedbyresearchanalystinthe
financialservicesindustry.
Onsuccessfulcompletionoftheexamination,thecandidateshould:

KnowthebasicsofIndianSecuritiesMarketsanddifferentterminologiesusedinequity
anddebtmarkets
Knowaboutthetopdownandbottomupapproachtofundamentalresearch
Know the basic principles for micro and macroeconomic analysis, the sources of
differentinformationforanalysisandthevariousmacroeconomicvariablesaffectingthe
analysis.
Knowthekeyindustrydriversandsourcesofinformationforindustryanalysis.
UnderstandabouttheQualitativeandQuantitativedimensionswithregardstoCompany
Analysis.
Know about the Fundamentals of Risk and Return, Valuation Principles and the
philosophyofvariousCorporateActions.
Understandthequalitiesofagoodresearchreport.

ExaminationSpecifications
Thisisacomputerbasedexaminationwithmultiplechoicequestions.
Theexaminationconsistsof100questionsof1markeachaddingto100marks.
Theexaminationshouldbecompletedin2hours.
There shall be negative marking of 25% of the marks assigned to the question for each
wronganswer.
Thepassingscorefortheexaminationis60marks.

NISMSeriesXV:ResearchAnalystCertificationExamination

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NATIONAL INSTITUTE OF SECURITIES MARKETS

Established by the Securities and Exchange Board of India

SyllabusOutlinewithWeightages

Chapter
No.
1
2
3
4
5
6
7
8
9
10
11
12
13

ChapterName

Weightages%

IntroductiontoResearchAnalystProfession
IntroductiontoSecuritiesMarket
TerminologyinEquityandDebtMarkets
FundamentalsofResearch
EconomicAnalysis
IndustryAnalysis
CompanyAnalysisQualitativeDimensions
CompanyAnalysisQuantitativeDimensions
CorporateActions
ValuationPrinciples
FundamentalsofRiskandReturn
QualitiesofagoodResearchReport
LegalandRegulatoryEnvironment
Total

3%
6%
6%
5%
7%
10%
7%
15%
6%
15%
5%
5%
10%
100%

NISMSeriesXV:ResearchAnalystCertificationExamination

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