By The NISM Series VIII – Equity Derivatives Certification Exam is one of the most sought-after qualifications for anyone looking to build a strong foundation in the world of trading, broking, or financial advisory. Whether you’re an aspiring trader, research analyst, or investment enthusiast, this certification validates your understanding of derivatives and market dynamics.
If you have just 15 days to prepare, don’t worry — a smart and structured plan can help you crack the exam with confidence. Let’s break down an efficient 15-day study plan that balances theory, revision, and mock tests — ensuring you walk into the exam hall fully prepared.
Understanding the NISM Equity Derivatives Exam
Before you begin, it’s essential to understand what the exam expects.
Exam Overview:
- Exam Code: NISM Series VIII
- Duration: 2 hours
- Questions: 100 (Multiple Choice)
- Passing Marks: 60%
- Negative Marking: 25% for every wrong answer
Key Topics Covered:
- Basics of Derivatives
- Understanding Futures and Options
- Trading, Clearing, and Settlement Mechanism
- Risk Management & Margining
- Legal and Regulatory Framework
- Accounting and Taxation of Derivatives
Knowing this structure will help you prioritize your efforts effectively during the 15-day sprint.
15-Day Smart Study Plan
📅 Day 1–3: Build the Foundation
Start by understanding the basics of derivatives — what they are, why they exist, and how they are used in the financial markets.
- Focus on Chapter 1 (Introduction to Derivatives) and Chapter 2 (Understanding Futures Contracts).
- Watch short YouTube explainers or use NISM’s official workbook to grasp concepts like spot price, futures price, margin, and leverage.
- Make concise notes in your own words — they’ll be gold during revision.
📅 Day 4–6: Deep Dive into Options
Options can be tricky but are crucial for scoring well.
- Learn about call and put options, option premium, moneyness, and payoff diagrams.
- Practice at least 15–20 example questions daily.
- Focus on understanding how changes in underlying price, time, and volatility affect option prices (the famous “Greeks”).
📅 Day 7–9: Trading, Clearing, and Settlement
These chapters cover the operational and practical side of the derivatives market.
- Learn the role of clearing corporations, types of margins, and risk management systems.
- Study examples related to mark-to-market settlements.
- This section carries significant weight, so make sure to revise key terms and processes carefully.
📅 Day 10–12: Legal, Regulatory, and Accounting Aspects
These chapters are often theory-heavy but easy to score.
- Focus on SEBI regulations, code of conduct for brokers, and investor protection mechanisms.
- Learn about taxation of derivatives, turnover calculation, and basic accounting entries.
- Go through previous question papers to identify frequently asked regulatory topics.
📅 Day 13–14: Revision and Mock Tests
Now it’s time to test yourself.
- Attempt at least 3–4 full-length NISM Equity Derivatives Mock Tests under timed conditions.
- Review every incorrect answer and re-read related concepts.
- Revise your short notes and highlight formulas or definitions you tend to forget.
Mock tests are your best friend — they build exam temperament and highlight weak areas.
📅 Day 15: Final Touch-Up
The last day should be for light revision only — don’t cram.
- Review key concepts like basis risk, hedging strategies, option payoffs, and margin calculations.
- Go through your formula sheet and high-yield notes.
- Stay calm, get proper sleep, and visualize success — confidence is half the battle won.
Final Thoughts
Cracking the NISM Exam in 15 days isn’t about long study hours — it’s about smart planning and focused effort. Prioritize understanding over rote learning, and use mock tests to refine your knowledge.
With consistent effort and strategic preparation, you’ll not only pass the exam but also gain practical insights that can shape your future in equity trading and investment advisory.
Stay disciplined, stay curious — and success will follow!