NISM Series X-B: Investment Adviser (Level 2) — Free Online Mock Test

NISM Series X-B exam at a glance

50 full-length mock tests

Attempt 50 full-length mocks

Each is a distinct question set built on the real 50-question, 90-minute pattern, with instant scoring and section-wise analysis. The first is free; unlock all 50 forever for $1.99 (one-time, no subscription).

NISM Series X-B key facts & eligibility

Who is eligible for NISM Series X-B?

Taken by individual investment advisers, and principal officers or persons associated with investment advice at non-individual advisers.

Last verified July 2026 against NISM — Investment Adviser (Level 2). Always confirm current details on the official website before you register.

NISM Series X-B section breakdown

The NISM Series X-B mock test on Wrexa Edge replicates the real exam's section structure — same names, same question count per section, same time limits. No inter-section breaks — the timer runs continuously.

• NISM Series X-B (50 Q)
  50 questions · 90 minutes · ~108 sec/question

Marking scheme

+1 per correct. Try your score.

Strategy: NISM Series X-B has no negative marking. Attempt every question — blank answers cost you potential marks but cannot pull your score down.

Scale: NISM Series X-B (pass 700/1000).

How NISM Series X-B is conducted

• Mode
  Proctored — Wrexa Edge mirrors this with a webcam-based proctoring flow (face detection, room scan, fullscreen lock, tab-switch detection).
• Test format
  Linear / fixed-form — every candidate sees the same number of questions per section.
• Backtracking
  Allowed — you can revisit and change answers within a section.
• Mark for review
  Available — flag tough questions and return to them before submitting the section.

NISM Series X-B time strategy

With 50 questions in 90 minutes, you have about 108 seconds per question on average. Successful candidates aim for the following pacing on each section:

• NISM Series X-B (50 Q)
  Target ~108 sec/question. If a question takes more than 162 seconds, mark for review and move on.

Wrexa Edge's analytics show your actual time-per-question after every mock so you can spot which sections you're losing time on.

NISM Series X-B topics covered

Across the 50 Wrexa Edge variants of NISM Series X-B, the following topics appear most often (sample distribution from one variant):

NISM Series X-B (50 Q)

• NISM-X-B — Behavioural Finance · 9
• NISM-X-B — Estate Planning · 8
• NISM-X-B — Client Communication · 6
• NISM-X-B — Mutual Funds & ETFs · 5
• NISM-X-B — Debt Analysis · 5
• NISM-X-B — Performance Evaluation · 4
• NISM-X-B — Alternative Investments · 4
• NISM-X-B — Equity Analysis · 4

NISM Series X-B difficulty calibration

Advanced tier. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep.

NISM Series X-B: Investment Adviser (Level 2) · MCQ. Reasoning, quantitative aptitude, English, general/financial awareness & computer knowledge. · Official language: English & Hindi.

Verified content — Wrexa Edge's NISM Series X-B bank has been deeply curated with real exam-aligned content (estimated 100% syllabus coverage).

How Wrexa Edge prepares you for NISM Series X-B

• Real test-day interface
  Our cert skin mirrors the actual NISM Series X-B testing software — same timer, palette, tools, and navigation.
• 50 distinct variants
  2500 unique practice questions, each variant a fresh test — not just shuffled options.
• Detailed analytics
  Scaled score, section accuracy, topic-wise heatmap, time-per-question — see where to focus after every attempt.
• Spaced repetition (Notebook)
  Wrong answers and flagged questions flow into an SM-2 spaced-repetition deck so you actually retain what you learn.
• Optional proctoring
  Browser-based face-api detection (no install) — turn it on to simulate real NISM Series X-B test-day conditions.
• Free to start
  No credit card. Sign up, pick a variant, and your first NISM Series X-B mock starts in under a minute.

Expert take: what NISM Series X-B really tests

The NISM Series X-B: Investment Adviser (Level 2) Certification Examination, from NISM (SEBI’s educational body), is the advanced level under the SEBI (Investment Advisers) Regulations, 2013; both X-A and X-B must be passed to register as an Investment Adviser. It has 120 questions (90 multiple-choice plus 6 caselets of five 2-mark questions) for 150 marks in 3 hours, with 25% negative marking and a passing score of 60% (90 of 150 marks). The certificate is valid for 3 years.

NISM Series X-B study plan

A phase-by-phase roadmap from your first concept to test-ready. Stretch or compress each phase to fit the time you have before your attempt.

Where NISM Series X-B can take you

A strong NISM Series X-B result opens up these careers and higher-study paths:

• Investment Adviser (Level 2)
  Series X-B is the advanced exam completing the Investment Adviser qualification.
• SEBI-registered advice
  Both X-A and X-B are needed for IA registration.

Best books & official prep for NISM Series X-B

• NISM Series X-B workbook — NISM
  Official workbook for Investment Adviser Level 2.
• Investment Adviser (Level 2) practice tests — Various
  120 questions for 150 marks; pass 60%.

Official practice: Study the official NISM Series X-B workbook with a focus on the case-based questions; the passing score is 60% (90/150) with 25% negative marking.

Previous-year papers: NISM publishes the workbook and sample questions.

Sample NISM Series X-B practice questions

5 questions taken from the NISM Series X-B mock tests on Wrexa Edge. Try each one, then reveal the answer.

1. NISM Series X-B (50 Q) · NISM-X-B — Client Communication

   Q1. Investment constraints considered in an IPS commonly include:

   1. Brand preference for particular AMCs
   2. Past returns earned by the adviser's other clients in the last year
   3. Stock exchange where the client trades
   4. Liquidity, time horizon, taxes, legal and unique needs
   Show answer

   Answer: D — Liquidity, time horizon, taxes, legal and unique needs

2. NISM Series X-B (50 Q) · NISM-X-B — Behavioural Finance

   Q2. Giving too much weight to recent market events when forming expectations is:

   1. Recency bias
   2. Anchoring bias
   3. Confirmation bias
   4. Endowment bias
   Show answer

   Answer: A — Recency bias

3. NISM Series X-B (50 Q) · NISM-X-B — Estate Planning

   Q3. A legal declaration of a person's wishes for distribution of property after death is a:

   1. Trust
   2. Will
   3. Gift deed
   4. Codicil
   Show answer

   Answer: B — Will

4. NISM Series X-B (50 Q) · NISM-X-B — Performance Evaluation

   Q4. The Sortino ratio is preferred by some because it penalises only:

   1. Upside volatility
   2. Market correlation
   3. Downside volatility
   4. Fund expenses
   Show answer

   Answer: C — Downside volatility

5. NISM Series X-B (50 Q) · NISM-X-B — Alternative Investments

   Q5. Portfolio Management Services differ from mutual funds mainly because PMS:

   1. Pool all investors' money into one common scheme with a single daily NAV
   2. Are available with no minimum investment
   3. Are regulated by RBI instead of SEBI
   4. Hold securities in the client's own name with customised portfolios
   Show answer

   Answer: D — Hold securities in the client's own name with customised portfolios

Frequently asked questions

What is the NISM Series X-B exam pattern?

NISM Series X-B: Investment Adviser (Level 2) contains 50 questions across 1 section: NISM Series X-B (50 Q). Total duration is 90 minutes (about 108 seconds per question).

Does NISM Series X-B have negative marking?

No — NISM Series X-B has no negative marking. Each correct answer is worth 1 mark, so attempt every question.

How is NISM Series X-B scored?

Scaled score range: 100 to 1000. NISM Series X-B (pass 700/1000).

How can I practise NISM Series X-B online for free?

Wrexa Edge gives you a free full-length NISM Series X-B mock test — with instant scoring, detailed explanations and analytics — plus 49 more with a one-time $1.99 unlock that never expires. Start practising in under a minute, no card required.

What is the difficulty level of NISM Series X-B?

NISM Series X-B is rated Advanced difficulty on Wrexa Edge. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep. NISM Series X-B: Investment Adviser (Level 2) · MCQ. Reasoning, quantitative aptitude, English, general/financial awareness & computer knowledge. · Official language: English & Hindi.

How long is the NISM Series X-B exam?

NISM Series X-B runs for 90 minutes total. On Wrexa Edge the timer is enforced exactly as on the real exam — including no inter-section breaks.

What topics are covered in NISM Series X-B?

NISM Series X-B is split into: NISM Series X-B (50 Q). Each section is timed and weighted separately. NISM Series X-B: Investment Adviser (Level 2) · MCQ. Reasoning, quantitative aptitude, English, general/financial awareness & computer knowledge. · Official language: English & Hindi.

What tools or aids are allowed during NISM Series X-B?

No special tools are required. Note: real exam is proctored — Wrexa Edge mirrors this with a webcam-based proctoring flow you can enable.

Is the NISM Series X-B test adaptive?

No — NISM Series X-B is a fixed-form (linear) test. Every candidate sees the same number of questions per section.

How many NISM Series X-B mock tests does Wrexa Edge offer?

Wrexa Edge generates 50 distinct NISM Series X-B variants — each with different question content, not just shuffled options — the first one free for everyone and 49 more with a one-time $1.99 unlock. That's 2500 unique practice questions in the real test-day interface.

Is there a free NISM Series X-B test series 2026?

Yes. The Wrexa Edge NISM Series X-B test series for 2026 gives you a free full-length mock test (50 in total) plus subject-wise and topic-wise tests — instant scoring and detailed analysis, no card required.

Are NISM Series X-B previous year question–style papers included?

Every NISM Series X-B mock is modelled on the official exam pattern and the style of previous years' papers — the same 50-question structure, sections and marking — so your practice mirrors the real paper you'll sit.

Which is the best free NISM Series X-B mock test online?

Wrexa Edge's NISM Series X-B mock test replicates the real exam interface, timing and marking scheme, with instant score, section-wise analysis and 50 fresh variants — a strong free choice for 2026 preparation.

Can I take the NISM Series X-B mock test on mobile?

Yes. NISM Series X-B mock tests run in any browser on mobile, tablet or desktop — no app or download needed. Start on your phone and your progress and analytics sync when you sign in.

What is the NISM Series X-B syllabus?

The NISM Series X-B syllabus maps to its 1 section: NISM Series X-B (50 Q). Wrexa Edge's mock tests cover the complete syllabus topic by topic — see the topics-covered breakdown above — so you practise every area at real exam difficulty.

What is the eligibility for NISM Series X-B?

Taken by individual investment advisers, and principal officers or persons associated with investment advice at non-individual advisers. Wrexa Edge focuses on realistic NISM Series X-B practice: a free full-length mock in the exact exam pattern, ready whenever you are.

When is the NISM Series X-B exam and how should I prepare?

Official NISM Series X-B exam dates are announced by the conducting body for each cycle — check the latest notification for the current schedule. To be ready, follow a phased study plan and take full-length timed mocks; Wrexa Edge gives you a free NISM Series X-B mock with instant scoring so you can track your readiness week by week.

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