Preparing for NISM Exams: A Student's Journey and Insights

NISM XV Preparation Strategy

The student successfully cleared the NISM XV exam within 15 days by following a specific preparation strategy.

Study Resources

• YouTube Videos: Watched all available videos related to the NISM XV syllabus.
• Practical Courses: Utilised videos from practical courses for a deeper understanding.

Practice and Assessment

• Case Studies: Practised by watching dedicated video explanations and then attempting mock tests.

• Mock Tests: Engaged in mock tests frequently.

• Target Score: Aimed for 100% in mock tests.
• Average Score: Consistently achieved 70-75% in mock tests, which instilled confidence for the actual exam.

Challenges and Focus Areas

• Case Studies Difficulty: Found case studies particularly challenging and therefore focused less on them.
• Prioritisation: Prioritised practical courses and theory due to the difficulty of case studies.
• Understanding Complex Questions: The main difficulty in case studies was comprehending the questions, which were often extensive.

Exam Experience

• Attempted Questions: Attempted all questions that were understood correctly.
• Difficulty Level: The actual exam was more difficult than anticipated.
• Result: Cleared the exam on the first attempt.

NISM Exam Journey and Progression

The student's NISM journey began with the Equity Derivatives exam, followed by the RA exam, driven by specific career aspirations.

Exam Timeline

• March 2021: Gave the Equity Derivatives exam.
• Subsequently:  Decided to pursue the RA (Research Analyst) exam.

Motivation for Equity Derivatives

• Career Goal: Aimed for an Equity Dealer's Profile, which led to taking the Equity Derivatives exam first.
• Shift to RA: Later shifted focus towards the RA exam.

Academic Background and Exam Timing

• Degree: B. Com.
• NISM Start: Started NISM preparation in the third year of college.
• Equity Derivatives Exam: Took this exam in the second year of college.

Recommendations for New NISM Aspirants

Based on their experience, the student offers advice for those starting their NISM journey.

Suggested First NISM Series

• NISM 15 (Research Analyst): Recommended as a good starting point for new students.
• YouTube Resources: Encouraged using YouTube as a primary resource for preparation.

Foundational Building

• NISM 8 (Equity Derivatives): Also suggested as a valuable exam for building a strong foundation, especially to understand one's interest areas before pursuing more advanced certifications like XV.
• Combining Exams: It is beneficial to prepare for and ideally clear both NISM 8 and NISM 15 due to their varying difficulty levels, which can enhance understanding and teaching abilities.

Study Techniques and Exam Strategies

Effective study habits and exam approaches were crucial for the student's success.

Preparation Time Management

Handling Unfamiliar Questions

• Repeated Study: If an answer was unknown, the strategy was to revisit the course material 2-3 times.
• Post-Exam Review: After completing the entire paper, a final review was conducted to ensure all questions were addressed and to identify areas for further study if needed.

Post-NISM Certification Plans and Career Guidance

The student has plans for internships and future certifications, and also provides advice on practical exposure.

Immediate Plans

Future Certifications

• MFD (Mutual Fund Distributors): Plans to pursue the MFD exam next.
• Other Certifications: Expressed interest in other certifications like XV in the future.

Practical Exposure for NISM XV

Insights on Emerging NISM Exams

The student briefly touches upon new and relevant NISM examinations.

Common Derivatives Exam

• Relevance: This exam is important for fund managers, especially for Systematic Investment Funds (SIFs), which involve a mix of equity and hedging strategies (e.g., investing ₹10,00,000 in equity and ₹10,00,000 in hedging).
• Target Audience: Fund managers who deal with such blended investment strategies.
• Future Blog: A blog post about this exam is planned for future reference.