Defeating the NISM Series 13: Rohit's 4-Step Strategy to Pass the Common Derivatives Exam on the First Attempt.
Let's be honest: the NISM Series 13 (Common Derivatives) exam has a reputation. It's often called one of the toughest NISM certifications out there. But what if we told you that passing on your very first attempt is totally doable? We sat down with Rohit, a professional from ICICI AMC who aced the exam recently, to get his exact blueprint. He proves that with the right strategy, this difficult exam can be easily conquered. Here is the simple, 4-step plan you need to follow:
Step 1: Get Real About Your Timeline
Forget studying for a week. Rohit stresses that adequate time is your biggest asset.
- If you’re new to derivatives, budget at least 40 to 45 days for solid preparation.
- Maximum Timeframe: Don't rush it. Give yourself a maximum of 60 days (two months) to fully absorb the material and be exam-ready.
Start your prep
before you book the exam. Get your hands on a reliable calculator and treat your study time seriously from day one.
Step 2: Ditch Rote Learning. Master the Concept.
The Series 13 exam is technical - it covers Equity, Currency, and Interest Rate Derivatives. You can't just memorise questions; you have to understand the underlying financial engineering. Rohit's key advice:
Clarity is King.
- Example: Interest Rates: Rohit was nervous about Interest Rate Derivatives, but realized that once the fundamental concepts of derivatives were clear, the rest of the asset class follows the same logic.
- The Big Picture: Focus on the "why" and "how" behind concepts like Futures, Options, and Swaps. This technical knowledge is what allows you to survive in the real financial world.
Step 3: Commit to the "90% Mock Test Rule"This is where you build confidence and speed.
- The Goal: Aim to score at least 90% in your course's mock tests before attempting the actual NISM exam.
- The Power of Repetition: Rohit repeatedly attempted the mock questions. This repetition makes the questions easy and improves your speed.
- Accuracy Builder: By reviewing the explanations provided for every wrong answer, you gain an estimated 70-80% of your required accuracy directly from the mock tests.
Remember, the goal is for your first attempt to be your last, and proper mock test performance guarantees that success.
Step 4: Master the 3-Hour Exam DayThe thought of a three-hour continuous exam can bring a "fear factor". Rohit cracked it by prioritising accuracy over speed initially:
- Phase 1 (First 2 Hours): Attempt all questions you are 100% sure about. Rohit completed approximately 150 questions during this time.
- Negative Marking is Real: The exam fee is not cheap (around ₹3,000). More importantly, negative marking can destroy your score.
- Be Selective: Rohit strategically attempted only 123 of 150 questions. He focused on ensuring his score was well above the mandatory 60% mark rather than risking mistakes on doubtful questions.
Don't be a random examinee who goes just to "see how it goes". Prepare fully, follow this strategy, and walk out with your certification!
Launch your Graphy