NISM Series XV - Free Test

Free NISM Series XV: Research Analyst Test Series

Prepare smarter for the NISM Series XV: Research Analyst Certification Examination with chapter-wise practice tests covering all 15 chapters of the revised syllabus.

This free test series is designed for working professionals, MBA Finance graduates, and learners with prior exposure to finance or financial markets. It helps you revise concepts, assess your preparation, identify weak areas, and improve your confidence through exam-oriented MCQs and case-based practice.

What the test series covers

1. Introduction to Research Analyst Profession — Role, responsibilities, professional qualities, and interaction with companies and clients.

2. Introduction to Securities Market — Securities, market structure, participants, products, transactions, and dematerialisation.

3. Terminology in Equity and Debt Markets — Essential equity, debt, bond, and commodity-market terminology.

4. Fundamentals of Research — Research process, information sources, data analysis, and liquidity measurement.

5. Economic Analysis — Economic indicators, monetary and fiscal policy, inflation, interest rates, and their market impact.

6. Industry Analysis — Industry life cycle, competitive forces, demand-supply factors, and industry evaluation.

7. Company Analysis – Business and Governance — Business model, management quality, corporate governance, and qualitative company analysis.

8. Company Analysis – Financial Analysis — Financial statements, ratio analysis, cash flows, profitability, liquidity, and leverage.

9. Corporate Actions — Dividends, bonus issues, rights issues, stock splits, buybacks, mergers, and their investor impact.

10. Valuation Principles — Time value of money, relative valuation, discounted cash flow concepts, and valuation multiples.

11. Fundamental Analysis of Commodities — Commodity-market fundamentals, demand-supply drivers, and commodity-price analysis.

12. Fundamentals of Risk and Return — Risk measurement, return calculation, diversification, beta, and portfolio concepts.

13. Qualities of a Good Research Report — Research-report structure, rating conventions, disclosures, and quality checklists.

14. Legal and Regulatory Environment — SEBI regulations, Research Analyst Regulations, code of conduct, disclosures, conflicts of interest, ASM, and GSM.

15. Technical Analysis — Charts, Dow Theory, market trends, reversal and consolidation patterns, support and resistance, trendlines, channels, and indicators.

How this test series will help you

• Practice chapter-wise MCQs in a structured manner.

• Revise high-weightage areas such as Financial Analysis, Valuation, Legal & Regulatory Environment, and Technical Analysis.

• Build speed and accuracy for the two-hour examination.

• Understand case-based and application-oriented questions.

• Track weak chapters and focus revision where it matters most.

Important disclaimer

This test series is an educational practice resource and does not guarantee examination results. It is not a substitute for the official NISM workbook, latest syllabus, revision, or mock-test practice. Please refer to the current official NISM study material before appearing for the examination.