NISM Series VIII Equity Derivatives Exam 2025: Eligibility, Syllabus, Pattern, & SEBI Updates You Must Know
Introduction
Planning to appear for the NISM Series VIII: Equity Derivatives Certification Exam in 2025? You're on the right track. This exam is not only mandatory for individuals dealing in equity derivatives in India, but it’s also an essential milestone for anyone looking to build a strong foundation in the futures and options (F&O) market.
In this blog, we’ll break down the updated eligibility criteria, syllabus, and exam pattern for the 2025 version of the exam—so you can prepare smarter, not harder.
Who Should Take the NISM Equity Derivatives Exam?
This certification is ideal for:
-
Professionals working in stock broking firms
-
Individuals involved in equity F&O trading and advisory
-
Sub-brokers, dealers, and relationship managers
-
Students and graduates seeking a career in financial markets
Passing this exam is a regulatory requirement by SEBI for all associated persons trading or advising in equity derivatives.
Eligibility Criteria (2025)
The best part? There are no formal prerequisites in terms of education or work experience. However:
-
A basic understanding of financial markets is helpful
-
You must have a valid PAN and an email ID to register
-
Minimum recommended age: 18 years or above
Whether you're a beginner or a working professional, you can take this exam.
Updated Syllabus for 2025
The syllabus is designed to cover both theoretical concepts and practical application of equity derivatives. Here's a topic-wise overview:
1. Basics of Derivatives
What are derivatives?
Types: Forwards, Futures, Options
Uses of derivatives: Hedging, speculation, arbitrage
2. Understanding Index and Stock Futures
Features of futures contracts
Margining systems
Settlement process
Payoff structures
3. Understanding Options
Call and Put options
Moneyness of options (ITM, ATM, OTM)
Option Greeks (Delta, Gamma, Theta, Vega)
Payoffs and strategy building
4. Trading, Clearing & Settlement
Market participants: Clients, brokers, exchanges
Order types and trading mechanisms
Clearing corporations and risk management
5. Regulatory Framework
Role of SEBI, exchanges, and clearing corporations
Key regulations affecting derivatives trading
Recent updates by SEBI (e.g., tighter norms, expiry rules)
6. Accounting, Taxation & Investor Protection
Tax implications of F&O trading
Investor grievance mechanisms
Code of conduct and ethical practices
Exam Pattern (2025)
|
Component
|
Details
|
|
Mode of Exam
|
Online (computer-based)
|
|
No. of Questions
|
100
|
|
Type
|
Multiple Choice (MCQs)
|
|
Total Marks
|
100
|
|
Passing Score
|
60% (i.e., 60 marks)
|
|
Negative Marking
|
Yes (25% deduction for each wrong answer)
|
|
Exam Duration
|
2 hours
|
|
Certificate Validity
|
3 years
|
Preparation Tips
1. Study concepts thoroughly, especially margining and option strategies.
2. Focus on recent regulatory changes—often asked in scenario-based questions.
3. Don’t skip payoff diagrams, option Greeks, and practical calculations.
4. Take mock tests regularly to track your performance.
Conclusion
The NISM Series VIII: Equity Derivatives Certification Exam is your gateway to becoming a competent, compliant, and confident market participant. Whether you're aiming to fulfill regulatory requirements or build a career in equity F&O, this exam is a must.
« Take Action: Start your preparation today—and aim to clear the exam on your first attempt with Nism Exams Test Prep.
FAQs – NISM Equity Derivatives Exam (2025)
1. Is the NISM Equity Derivatives exam tough?
It’s conceptually rich but very doable with the right preparation. Understanding derivatives logic, margin systems, and payoffs is key.
2. Can I take the exam without any trading experience?
Yes. There are no work experience requirements. It’s suitable for beginners as well as professionals.
3. What happens if I fail the exam?
You can reappear by registering again and paying the exam fee. There’s no limit to the number of attempts.
4. Do I need a demat or trading account to register?
No. You just need a valid PAN card and email ID to register for the exam.
5. Will questions on new SEBI regulations be included?
Yes. SEBI’s latest updates (like expiry day changes and tightened norms) are often covered—so stay current!