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Various NCFM Test Details (Fees, Questions, Duration, Pass Marks & Validity).

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Sr. No. Name of Module Fees (Rs.) Test Duration in minutes) No. of Questions Maximum Marks Pass Marks (%) Certificate Validity
(in years)
1 Financial Markets: A Beginners’ Module * 1500 120 60 100 50 5
2 Mutual Funds : A Beginners' Module 1500 120 60 100 50 5
3 Currency Derivatives: A Beginner’s Module 1500 120 60 100 50 5
4 Equity Derivatives: A Beginner’s Module 1500 120 60 100 50 5
5 Interest Rate Derivatives: A Beginner’s Module 1500 120 60 100 50 5
6 Commercial Banking in India: A Beginner’s Module 500 120 60 100 50 5
7 Securities Market (Basic) Module 1500 105 60 100 60 5
8 Capital Market (Dealers) Module * 1500 105 60 100 50 5
9 Derivatives Market (Dealers) Module * 1500 120 60 100 60 3
10 FIMMDA-NSE Debt Market (Basic) Module 1500 120 60 100 60 5
11 Investment Analysis and Portfolio Management Module 1500 120 60 100 60 5
12 NISM-Series-I: Currency Derivatives Certification Examination 1000 120 60 100 60 3
13 NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate Certification Examination 1000 120 100 100 50 3
14 NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination 1000 120 100 100 50 3
15 NISM-Series-IV: Interest Rate Derivatives Certification Examination 1000 120 100 100 60 3
16 NISM-Series-V-A: Mutual Fund Distributors Certification Examination * 1000 120 100 100 50 3
17 NISM-Series-VI: Depository Operations Certification Examination 1000
 120 100 100 60 3
18 NISM Series VII: Securities Operations and Risk Management Certification Examination 1000 120 100 100 50 3
19 Certified Personal Financial Advisor (CPFA) Examination 4000 120 80 100 60 3
20 NSDL–Depository Operations Module 1500 75 60 100 60 # 5
21 Commodities Market Module 1800 120 60 100 50 3
22 Surveillance in
Stock Exchanges Module 		1500 120 50 100 60 5
23 Corporate Governance Module 1500 90 100 100 60 5
24 Compliance Officers (Brokers) Module 1500 120 60 100 60 5
25 Compliance Officers (Corporates) Module 1500 120 60 100 60 5
26 Information Security Auditors Module (Part-1) 2250 120 90 100 60 2
Information Security Auditors Module (Part-2) 2250 120 90 100 60
27 Options Trading Strategies Module 1500 120 60 100 60 5
28 FPSB India Exam 1 to 4** 2000 per exam 120 75 140 60 NA
29 Examination 5/Advanced Financial Planning ** 5000 240 30 100 50 NA
30 Equity Research Module ## 1500 120 65 100 55 2
31 Issue Management Module ## 1500 120 80 100 55 2
32
 Market Risk Module ## 1500 120 50 100 55
2
33 Financial Modeling Module ### 1000 150 50 75 50 NA



* Candidates have the option to take the tests in English, Gujarati or Hindi languages.

# Candidates securing 80% or more marks in NSDL-Depository Operations Module ONLY will be certified as ‘Trainers’.

** Following are the modules of Financial Planning Standards Board India (Certified Financial Planner Certification)
- FPSB India Exam 1 to 4 i.e. (i) Risk Analysis & Insurance Planning (ii) Retirement Planning & Employee Benefits (iii) Investment Planning and (iv) Tax Planning & Estate Planning
- Examination 5/Advanced Financial Planning

## Modules of Finitiatives Learning India Pvt. Ltd. (FLIP)

### Module of IMS Proschool

The curriculum for each of the modules (except Modules of Financial Planning Standards Board India, Finitiatives Learning India Pvt. Ltd. and IMS Proschool) is available on our website: www.nseindia.com > NCFM > Curriculum & Study Material.