NISM Series XV Research Analyst Mock Test | NISM 15 Practice Exam (2026 Updated)

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About Course

The NISM Series XV: Research Analyst Certification Examination is a mandatory certification for professionals registered as Research Analysts under SEBI (Research Analyst) Regulations, 2014. The exam establishes a minimum knowledge benchmark for individuals involved in preparing research reports, performing financial analysis, and providing investment recommendations in the Indian securities market.

The certification focuses on key areas such as economic analysis, industry analysis, company financial analysis, valuation principles, technical analysis, and the regulatory framework governing research analysts.

Our NISM Research Analyst Mock Test Series is designed according to the latest NISM syllabus and exam pattern, helping candidates prepare effectively for the NISM 15 certification exam.

These mock tests simulate the real exam environment and include exam-level questions, case studies, and detailed explanations, enabling candidates to improve accuracy, speed, and conceptual understanding.

NISM Research Analyst Exam Objectives

The objective of the NISM Series XV certification exam is to ensure that candidates possess the knowledge and skills required to work as professional research analysts in the financial services industry.

After completing the certification, candidates should be able to:

  • Understand the structure and functioning of the Indian securities market

  • Apply top-down and bottom-up approaches to fundamental research

  • Conduct macro-economic and micro-economic analysis

  • Analyze industries and identify key industry drivers

  • Perform qualitative and quantitative company analysis

  • Apply valuation techniques and risk-return principles

  • Understand corporate actions and their impact on investors

  • Prepare high-quality research reports

  • Understand the legal and regulatory framework governing research analysts

NISM Research Analyst Exam Pattern

Understanding the exam pattern is essential for effective preparation.

Exam Detail Information
Exam Name NISM Series XV – Research Analyst Certification
Total Questions 100
Question Format Multiple Choice + Case Based Questions
Total Marks 100
Passing Marks 60%
Negative Marking 25% deduction for incorrect answers
Exam Duration 2 Hours

Question Distribution

The exam consists of:

  • 80 Multiple Choice Questions (1 mark each)

  • 5 Case Studies with 4 questions each (20 marks total)

This structure evaluates both conceptual understanding and analytical ability.

NISM Research Analyst Syllabus and Chapter Weightage

The NISM Series XV syllabus includes 15 chapters covering research analysis, valuation techniques, financial markets, and regulatory aspects.

Chapter Topic Weightage
Chapter 1 Introduction to Research Analyst Profession 1
Chapter 2 Introduction to Securities Market 2
Chapter 3 Terminology in Equity and Debt Markets 2
Chapter 4 Fundamentals of Research 5
Chapter 5 Economic Analysis 5
Chapter 6 Industry Analysis 8
Chapter 7 Company Analysis – Business & Governance 6
Chapter 8 Company Analysis – Financial Analysis 12
Chapter 9 Corporate Actions 5
Chapter 10 Valuation Principles 12
Chapter 11 Fundamental Analysis of Commodities 5
Chapter 12 Fundamentals of Risk and Return 7
Chapter 13 Qualities of a Good Research Report 5
Chapter 14 Legal and Regulatory Environment 10
Chapter 15 Technical Analysis 15

Higher weightage topics such as technical analysis, valuation principles, and financial statement analysis are particularly important for scoring well in the exam.

Who Should Take the NISM Research Analyst Certification Exam?

The NISM Series XV certification is required for professionals working in financial research and investment advisory roles.

This certification is recommended for:

  • Research analysts in brokerage firms and asset management companies

  • Professionals preparing equity research reports and investment recommendations

  • Analysts working in financial advisory or investment consulting

  • Individuals aspiring to build a career in equity research or capital markets

How to Prepare for the NISM Research Analyst Exam

A strategic preparation approach significantly improves the chances of clearing the exam.

1. Understand the Official NISM Workbook

Study the official NISM workbook carefully and focus on high-weightage chapters such as technical analysis, valuation methods, and company financial analysis.

2. Build Strong Analytical Skills

Research analysts must interpret financial data, analyze industries, and evaluate companies using quantitative and qualitative methods.

3. Practice Mock Tests Regularly

Attempting NISM Research Analyst mock tests helps candidates become familiar with the exam pattern and improve time management.

4. Focus on Case-Based Questions

Since the exam includes case studies, practice solving analytical questions that involve real-world financial scenarios.

5. Revise Key Concepts

Revise important financial ratios, valuation techniques, and regulatory provisions before the exam.

Why Choose Our NISM Research Analyst Mock Test?

Our NISM Series XV Mock Test Package includes 900+ carefully designed questions aligned with the latest syllabus.

Key features include:

  • Full-length exam simulations

  • Case-based practice questions

  • Detailed answer explanations

  • Coverage of all 15 syllabus chapters

  • Exam-level difficulty

These mock tests help candidates identify weak areas, strengthen concepts, and build confidence before the actual exam.

Career Opportunities After NISM Research Analyst Certification

After clearing the NISM Series XV certification, professionals can pursue careers in:

  • Equity Research

  • Investment Advisory

  • Asset Management

  • Brokerage Firms

  • Financial Consulting

  • Portfolio Management

Research analysts play a key role in analyzing companies, identifying investment opportunities, and guiding investment decisions.

Final Thoughts

The NISM Research Analyst Mock Test is one of the most effective preparation tools for candidates aiming to clear the NISM Series XV certification exam. With a structured study plan, conceptual clarity, and regular practice through mock tests, candidates can significantly improve their exam performance and build a successful career in financial research.

Start practicing today and move one step closer to becoming a certified Research Analyst in the Indian securities market.

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What Will You Learn?

  • 900+ Exam-Focused Practice Questions
  • Access 900+ carefully curated practice questions covering all chapters of the NISM Series XV: Research Analyst Certification Exam syllabus. These questions are designed to reflect the difficulty level and structure of the real NISM 15 exam.
  • Detailed Answer Explanations
  • Each question includes clear explanations and correct answers, helping you understand the underlying concepts and solve even the most challenging NISM Research Analyst exam questions with confidence.
  • Real Exam Simulation with Timed Tests
  • Practice under real exam conditions with timed mock tests that mirror the actual 2-hour NISM Series XV exam format, helping you improve speed and time management.
  • Performance Evaluation and Score Tracking
  • At the end of each mock test, you will receive a detailed score report, allowing you to analyze your performance, identify weak areas, and improve your preparation strategy.
  • Full Syllabus Coverage
  • The mock tests cover all 15 chapters of the NISM Research Analyst syllabus, including economic analysis, industry analysis, company valuation, financial statement analysis, technical analysis, and regulatory framework.
  • Instant Online Access
  • After successful payment, you will receive immediate access to the NISM Research Analyst Mock Test platform, allowing you to start practicing anytime and from anywhere.

Course Content

NISM 15 MOCK TEST (CURRENT MONTH)
Boost your preparation for the NISM Series XV Research Analyst Exam with high-quality mock tests based on the latest syllabus. Get practice questions, solutions, and exam-like experience to clear NISM in your first attempt.

  • NISM RA MOCK TEST 1
  • NISM RA MOCK TEST 2
  • NISM RA MOCK TEST 3
  • NISM RA MOCK TEST 4
  • NISM RA MOCK TEST 5
  • NISM RA MOCK TEST 6
  • NISM RA FULL LENGTH MOCK TEST 1

NISM RESEARCH ANALYST MOCK TEST (CURRENT YEAR)
Achieve your NISM Research Analyst Certification (Series XV) with the latest mock tests and detailed explanations. Our current year's practice exams are meticulously updated to align with the latest NISM syllabus and exam pattern, including crucial case-based questions.

NISM RESEARCH ANALYST CASE STUDIES
Master the NISM Series XV Research Analyst Exam with focused practice on real-world case studies and in-depth explanations. This resource is essential for preparing for the mandatory case-based questions that test your practical application of fundamental analysis and regulatory knowledge.