NISM Research Analyst – Series XV Detailed Guidance, Syllabus Updates & Exam Strategy

1. Introduction & Student Appreciation

Listening to students and guiding them correctly has always been our priority. Around 15–20 days ago, students were advised to clear the NISM Research Analyst Series XV exam before 20th January due to upcoming syllabus changes.

Many students followed this guidance and successfully cleared the exam.
Congratulations to all students who cleared the exam by acting on timely guidance.

2. SEBI Mandate – Who Must Clear Series XV

As per the SEBI circular, Series XV certification is mandatory for:

- SEBI-registered Research Analysts
- Corporate Research Analyst License Holders
- Individual Research Analyst License Holders
- Employees involved in client interaction, research report preparation, sales, client servicing, and compliance work

Deadline: Certificate must be obtained by June.

3. Updated Syllabus Structure

Component	Earlier Syllabus	Updated Syllabus
Number of Chapters	13	15
Total Marks	100	100
Workbook Length	~70 pages	~80 pages

Preparation level must be increased accordingly.

4. Revised Marks Weightage- Commodities: 5 Marks

- Technical Analysis: 15 Marks. Technical analysis is basic and should not be feared with proper preparation.

5. Case Studies – Major Change

Earlier Pattern	Updated Pattern
2 Case Studies × 4 marks	5 Case Studies × 4 marks
Total: 8 Marks	Total: 20 Marks

Case studies cannot be skipped and must be taken seriously.

6. Study Material Updates- Simplified PPTs updated

- Question bank updated
- Video lectures for Commodities and Technical Analysis are being uploaded. Notes and PPTs are sufficient even if videos are delayed.

7. Exam Date Planning Advice

Exams around the 24th–25th may be difficult unless well-prepared in technical analysis and commodities. Recommended exam booking: 8th–10th February when full video content will be available.

8. Exam Attempt Strategy- Total questions: 100

- Ideal attempts: 90–92
- Case studies: Attempt at least 15–16 questions

9. Negative Marking Awareness: Avoid guesswork.

Random attempts, driven by temptation, often result in failure near the cutoff.

10. Smart Skipping StrategyKnowing which questions to skip is crucial.

Even 75 accurate attempts can help clear the exam. Final Advice:
- Do not skip case studies
- Maintain numerical accuracy
- Avoid blind guessing
- Prepare seriously due to the increased syllabus.

Conclusion:

With proper planning, smart attempts, and disciplined preparation, clearing NISM Series XV is absolutely achievable.

Prof. Sheetal Kunder
SEBI® Research Analyst. Registration No. INH000013800 M.Com, M.Phil, B.Ed, PGDFM, Teaching Diploma (in Accounting & Finance) from Cambridge International Examination, UK. Various NISM Certification Holders. Ex-BSE Institute Faculty. 18 years of extensive experience in Accounting & Finance. Faculty Development Programs and Management Development Programs at the PAN India level to create awareness about the emerging trends in the Indian Capital Market, and counsel hundreds of students in career choices in the finance area

NISM Research Analyst – Series XV Detailed Guidance, Syllabus Updates & Exam Strategy

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