NISM Series I mock test
Currency Derivatives Certification Examination
The practice paper
Before you start
- 100 questions, 120 minutes. 1 mark each, and 25% off for a wrong answer — the same rules the real paper uses, so a question you cannot narrow down is better left blank.
- Questions are drawn to the syllabus weightages NISM publishes, so the mix matches the real paper.
- You can flag a question and come back to it. The clock does not stop.
- Nothing is saved. Close the tab and the attempt is gone.
The real examination
A practice paper for the Currency Derivatives certification — the currency market itself, futures and options on the rupee pairs and the permitted cross-currency pairs, hedging strategies, the trading and clearing mechanism, and the regulatory framework RBI and SEBI share. A hundred questions, negative marking of a quarter mark and a pass at 60, exactly as the examination has it.
- Questions
- 100
- Duration
- 120 min
- Pass mark
- 60/100
- Negative marking
- −25%
The certificate is valid for 3 years. Clearing this examination is the certification requirement for approved users and sales personnel of a trading member in the currency derivatives segment of a recognised stock exchange.
Syllabus and weightages
Ten units, weighted as NISM publishes them. Exchange Traded Currency Futures and Exchange Traded Currency Options are 20% each of the paper — worth knowing before you decide where your week goes.
| Unit | Weight | Questions |
|---|---|---|
| 1. Introduction to Currency Markets | 10% | 10 |
| 2. Foreign Exchange Derivatives | 5% | 5 |
| 3. Exchange Traded Currency Futures | 20% | 20 |
| 4. Exchange Traded Currency Options | 20% | 20 |
| 5. Strategies using Exchange Traded Currency Derivatives | 10% | 10 |
| 6. Trading Mechanism in Exchange Traded Currency Derivatives | 10% | 10 |
| 7. Clearing, Settlement and Risk Management in ETCD | 10% | 10 |
| 8. Regulatory Framework for Exchange Traded Currency Derivatives | 5% | 5 |
| 9. Accounting and Taxation of ETCD | 5% | 5 |
| 10. Codes of Conduct and Investor Protection Measures | 5% | 5 |
Common questions
Is this the actual NISM examination?
No. It is a practice paper written by CAPITA1 from the syllabus NISM publishes. The real examination is conducted by NISM and can only be taken through them.
Does passing this get me certified?
No. Only NISM certifies, through its own examination. This tells you where you stand before you book it.
What score do I need in the real exam?
60 out of 100, which is 60%. A wrong answer costs 25% of the marks for that question, and an unanswered one costs nothing — so a guess you have no basis for is worse than leaving it.
Do I get the same questions each time?
No. A fresh paper is drawn from the bank each attempt, weighted to the same syllabus split.