NISM Series XV: Research Analyst Certification — Free Online Mock Test

NISM Series XV exam at a glance

NISM Series XV key facts & eligibility

Who is eligible for NISM Series XV?

Taken by research analysts and partners of a research analyst engaged in preparing or publishing research reports.

Last verified July 2026 against NISM — Research Analyst. Always confirm current details on the official website before you register.

NISM Series XV section breakdown

The NISM Series XV 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 XV (50 Q)
  50 questions · 120 minutes · ~144 sec/question

NISM Series XV scoring & marking scheme

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

Scale: NISM Series XV (pass 700/1000).

How NISM Series XV 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 XV time strategy

With 50 questions in 120 minutes, you have about 144 seconds per question on average. Successful candidates aim for the following pacing on each section:

• NISM Series XV (50 Q)
  Target ~144 sec/question. If a question takes more than 216 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 XV topics covered

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

NISM Series XV (50 Q)

• Equity derivatives · 8
• Research · 6
• Technical analysis · 5
• Instruments · 4
• Mutual funds · 4
• Depository · 4
• Primary market · 3
• Interest-rate derivatives · 3

NISM Series XV difficulty calibration

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

NISM Series XV: Research Analyst Certification · ~100 MCQ in 2h, pass 60%. Financial statements & ratio analysis, valuation (DCF, multiples), economic & industry analysis, and research-analyst regulations & ethics. · Official language: English & Hindi.

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

How Wrexa Edge prepares you for NISM Series XV

• Real test-day interface
  Our cert skin mirrors the actual NISM Series XV 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 XV test-day conditions.
• Free to start
  No credit card. Sign up, pick a variant, and your first NISM Series XV mock starts in under a minute.

Expert take: what NISM Series XV really tests

The NISM Series XV: Research Analyst Certification Examination, from NISM (SEBI’s educational body), is mandatory for research analysts registered under the SEBI (Research Analysts) Regulations, 2014. It has 100 questions (80 multiple-choice plus 5 caselets of four 1-mark questions) for 100 marks in 2 hours, with 25% negative marking and a passing score of 60%. The certificate is valid for 3 years.

NISM Series XV 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 XV can take you

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

• Registered Research Analyst
  Series XV is mandatory for SEBI-registered research analysts.
• Equity & credit research
  A required qualification for those publishing research reports.

Best books & official prep for NISM Series XV

• NISM Series XV workbook — NISM
  Official workbook for the Research Analyst exam.
• Research Analyst practice tests — Various
  100 questions; pass 60%; 25% negative marking.

Official practice: Study the official NISM Series XV workbook on securities analysis and valuation; the passing score is 60% with 25% negative marking.

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

Frequently asked questions

What is the NISM Series XV exam pattern?

NISM Series XV: Research Analyst Certification contains 50 questions across 1 section: NISM Series XV (50 Q). Total duration is 120 minutes (about 144 seconds per question).

Does NISM Series XV have negative marking?

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

How is NISM Series XV scored?

Scaled score range: 100 to 1000. NISM Series XV (pass 700/1000).

How can I practise NISM Series XV online for free?

Wrexa Edge gives you 10 free full-length NISM Series XV mock tests — with instant scoring, detailed explanations and analytics — plus 40 more with Pro. Start practising in under a minute, no card required.

What is the difficulty level of NISM Series XV?

NISM Series XV 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 XV: Research Analyst Certification · ~100 MCQ in 2h, pass 60%. Financial statements & ratio analysis, valuation (DCF, multiples), economic & industry analysis, and research-analyst regulations & ethics. · Official language: English & Hindi.

How long is the NISM Series XV exam?

NISM Series XV runs for 120 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 XV?

NISM Series XV is split into: NISM Series XV (50 Q). Each section is timed and weighted separately. NISM Series XV: Research Analyst Certification · ~100 MCQ in 2h, pass 60%. Financial statements & ratio analysis, valuation (DCF, multiples), economic & industry analysis, and research-analyst regulations & ethics. · Official language: English & Hindi.

What tools or aids are allowed during NISM Series XV?

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 XV test adaptive?

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

How many NISM Series XV mock tests does Wrexa Edge offer?

Wrexa Edge generates 50 distinct NISM Series XV variants — each with different question content, not just shuffled options — the first 10 free for everyone and 40 more with Pro. That's 2500 unique practice questions in the real test-day interface.

Is there a free NISM Series XV test series 2026?

Yes. The Wrexa Edge NISM Series XV test series for 2026 gives you 10 free full-length mock tests (50 in total) plus subject-wise and topic-wise tests — instant scoring and detailed analysis, no card required.

Are NISM Series XV previous year question–style papers included?

Every NISM Series XV 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 XV mock test online?

Wrexa Edge's NISM Series XV 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 XV mock test on mobile?

Yes. NISM Series XV 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 XV syllabus?

The NISM Series XV syllabus maps to its 1 section: NISM Series XV (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 XV?

Eligibility for NISM Series XV — age, qualification and number of attempts — is set by the official conducting body and can change each cycle, so always confirm the current official notification before applying. Wrexa Edge focuses on realistic NISM Series XV practice: 10 free full-length mocks in the exact exam pattern, ready whenever you are.

When is the NISM Series XV exam and how should I prepare?

Official NISM Series XV 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 10 free NISM Series XV mocks with instant scoring so you can track your readiness week by week.

Related exams & practice tests

Candidates preparing for NISM Series XV also practise these on Wrexa Edge:

Browse more: All Finance & Professional exams →  ·  All India exams →  ·  Full exam catalog →

• Cloud & IT certification tests
• Exam calendar 2026

Ready to ace NISM Series XV?

Join thousands of candidates practising on Wrexa Edge. Free signup, 50 variants per exam, instant scoring.