About the exam
NISM Series V-A: what to know before you register and sit it.
Exam basics
Exam fee: ₹1,500
Paid to NISM at registration. No refund on a missed or cancelled slot.
100 questions · 2 hours · 50% to pass
Single correct answer per question. No negative marking.
Certificate valid for 3 years
Renew through CPE in the 12-month window before it expires.
Carry your admit card and a photo ID
Bring a printout of your admit card and any government photo ID. PAN is not mandatory at the centre.
Registration & booking
Register at least a week ahead
NISM approval can take 24–72 hours, so do not leave it to the last day.
Book your test-centre slot early
In Tier-2 and Tier-3 cities, slots can fill 3–4 weeks out.
Match your name exactly
Your name must be identical across NISM, PAN, and later your ARN.
After passing, get your ARN
Apply through CAMS or KFintech; the ARN takes about 2–3 weeks.