NISM Professor
NISM Series III-A

Securities Intermediaries Compliance (Non-Fund)

For compliance officers at brokers, merchant bankers and other non-fund intermediaries. The rulebook of what a SEBI-registered firm must and must not do.

Exam pattern

Duration
120 min
Total marks
100
Pass mark
60% (60)
Negative marking
25%

There is negative marking of 25% of the marks for that question, so a wrong answer costs you 0.25 marks on a 1-mark question. Guess only when you can eliminate at least two options.

Syllabus and chapter weightage

Weightages are taken from the official syllabus table published in the NISM workbook, so you can see exactly where the marks are.

  1. 1Introduction to the Financial System5%
  2. 2Regulatory Framework - General View9%
  3. 3Introduction to Compliance4%
  4. 4Securities and Exchange Board of India Act, 19927%
  5. 5Securities Contracts (Regulation) Act, 1956 and Securities Contracts4%
  6. 6SEBI (Intermediaries) Regulations, 20086%
  7. 7SEBI (Prohibition of Insider Trading) Regulations, 20156%
  8. 8SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to6%
  9. 9Prevention of Money Laundering Act, 20027%
  10. 10SEBI (KYC Registration Agency) Regulations, 20112%
  11. 11SEBI (Foreign Portfolio Investors) Regulations, 20193%
  12. 12SEBI (Stock Brokers) Regulations, 20256%
  13. 13SEBI (Merchant Bankers) Regulations 2025, SEBI (SAST) Regulations,6%
  14. 14SEBI (Issue of Capital and Disclosure Requirements) Regulations 20186%
  15. 15Depositories Act 19962%
  16. 16SEBI (Depositories and Participants) Regulations 20183%
  17. 17SEBI (Registrar to an issue and Share Transfer Agents) Regulations,3%
  18. 18SEBI (Research Analyst) Regulations, 20142%
  19. 19SEBI (Investment Advisers) Regulations, 20132%
  20. 20SEBI (Debenture Trustees) Regulations, 19933%
  21. 21SEBI (Credit Rating Agencies) Regulations, 19993%
  22. 22SEBI (Custodian) Regulations, 19963%
  23. 23Proxy Advisors2%

Start preparing free

Every chapter explained in plain English, then tested at three levels, with mock exams that use this paper’s real marking rules.

Create a free account

Frequently asked questions

What is the passing mark for NISM Series III-A?
You need 60% to pass NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund). On a 100-mark paper that is 60 marks.
Is there negative marking in NISM Series III-A?
There is negative marking of 25% of the marks for that question, so a wrong answer costs you 0.25 marks on a 1-mark question. Guess only when you can eliminate at least two options.
How long is the NISM Series III-A exam?
The exam runs for 120 minutes and carries 100 marks in total.
How long is the NISM Series III-A certificate valid?
NISM certifications are generally valid for 3 years from the date of passing, after which they must be renewed. Confirm the current position on nism.ac.in before your certificate lapses.