NISM-Series-XXI-A & XXI-B: Portfolio Management Services Certification Overview
Discover the essentials of the NISM-Series-XXI-A and XXI-B certifications for Portfolio Management Services (PMS). Learn about the key topics covered, exam structure, and requirements for PMS distributors and officials. Ensure your expertise in portfolio management and stay compliant with industry standards.
NISM has revised and introduced two certifications related to Portfolio Management Services (PMS):
1. NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination
This certification is mandatory for distributors to obtain a PMS distribution license or an APRN number. It aims to enhance knowledge of distribution and support services in the PMS field.
Key Topics Covered:
- Investment landscape and securities markets
- Investing in stocks, fixed-income securities, and derivatives
- Mutual funds, portfolio management, and performance evaluation
- Taxation, regulations, and ethical aspects
Exam Details:
- 80 multiple-choice questions and 3 case-based questions (total 100 marks)
- Passing marks: 60%
- Negative marking: 0.25 marks for each incorrect answer
- Cost: Rs. 1,500
- Duration: 2 hours
- Validity: 3 years
2. NISM-Series-XXI-B: Portfolio Managers Certification Examination
This certification is mandatory for PMS officials and covers the same topics as the Series-XXI-A exam but has a different exam structure.
Exam Details:
- 90 multiple-choice questions and 6 case-based questions (total 150 marks)
- Passing marks: 60% (90 out of 150)
- Negative marking: 0.25 marks for each incorrect answer
- Cost: Rs. 3,000
- Duration: 3 hours
- Validity: 3 years
Both certifications are essential for professionals involved in Portfolio Management Services in India.
Both the NISM-Series-XXI-A and NISM-Series-XXI-B certifications are crucial for individuals involved in Portfolio Management Services (PMS). While the XXI-A certification is designed for distributors, the XXI-B certification is specifically required for PMS officials.
These certifications equip professionals with essential knowledge about the investment landscape, portfolio management processes, and the regulatory and ethical responsibilities involved. The exams ensure that professionals are qualified to manage and distribute portfolio management services while adhering to industry standards.
By successfully passing these certifications, professionals can legally operate within the PMS space, improve their career prospects, and maintain their certifications for three years before renewal is required.