How Many Attempts for NISM Exam – A Complete Guide for Taxation Consultancy

Preparing for the NISM exam can feel overwhelming, especially if you're from a taxation consultancy background or planning to enter the financial markets. Questions like what is NISM exam? how to apply for NISM exam? how many attempts for NISM exam? often confuse many people. That’s why this detailed, easy-to-understand guide is here—to simplify everything for you.

Think of this article as a road map. Whether you're just starting or planning to retake an exam, this guide will help you navigate your NISM journey with confidence.

Learn what is NISM exam, how to apply for NISM exam, and how many attempts for NISM exam. A simple, complete guide for all aspirants.

Introduction to NISM Exam

If you’re stepping into the world of finance, securities, and compliance, the NISM exam is your first checkpoint. Many people, especially taxation consultants, often wonder how NISM fits into their career. Surprisingly, it plays a much bigger role than most imagine.

Before diving deep, let’s begin by understanding the basics.

What is NISM Exam?

The NISM exam (National Institute of Securities Markets exam) is a certification requirement regulated by SEBI. It ensures that professionals working in India’s securities market possess the right knowledge and skills.

Think of NISM as a “driving license” for the financial market. Just like you need a license to drive safely on the road, you need an NISM certification to handle investments and securities responsibly.

Key points:

• Mandatory for stock market professionals
  
  

• Conducted online
  
  

• Covers multiple modules (mutual funds, research analysis, compliance, etc.)
  
  

Why Taxation Consultants Should Know About NISM

Taxation consultants often deal with investments, capital gains, mutual funds, and financial planning. A good understanding of NISM modules helps in:

• Offering better client advice
  
  

• Understanding investment-related taxation
  
  

• Staying compliant with SEBI norms
  
  

• Expanding consultancy services
  
  

If you're in taxation consultancy, NISM certification is not just an add-on—it’s a business booster.

Types of NISM Certifications

NISM offers 20+ certification modules, including:

Popular Modules:

• NISM Series V-A – Mutual Fund Distributor
  
  

• NISM Series VIII – Equity Derivatives
  
  

• NISM Series X-A & X-B – Investment Adviser
  
  

• NISM Series XV – Research Analyst
  
  

• NISM Series VI – Depository Operations
  
  

Each certification focuses on a specific part of the securities market.

Eligibility Criteria for NISM Exams

The best part? NISM has very simple eligibility rules.

Requirements:

• No minimum educational qualification
  
  

• No age restriction
  
  

• No prior experience needed
  
  

• Anyone (student, professional, job seeker) can apply
  
  

It’s one of the most beginner-friendly exams in India.

How to Apply for NISM Exam – Step-by-Step Guide

Many aspirants search for how to apply for NISM exam. Here's the simplest guide:

1. Visit the NISM Certification Portal

Create an account using your email and mobile number.

2. Complete Your Profile

Upload your photo and ID proof.

3. Select a Certification Module

Choose the exam you want to attempt.

4. Choose Exam Centre / Online Mode

Select your preferred date and time.

5. Pay the Exam Fee

Fees usually range between ₹1,500–₹3,000 depending on the module.

6. Download Admit Card

Carry it on exam day.

The entire process takes less than 10 minutes.

Exam Pattern and Structure

Understanding the pattern helps before appearing:

• Exam Mode: Online
  
  

• Duration: 2 hours
  
  

• Questions: 100 MCQs
  
  

• Passing Marks: Usually 50%–60% depending on module
  
  

• Negative Marking: Only in some modules
  
  

How Many Attempts for NISM Exam?

Now the main question—

You get unlimited attempts.

Yes! You can appear again and again until you pass. There is NO attempt limit for any NISM module.

Each time you attempt, you must pay the exam fee. But the number of tries is not restricted.

Summary:

• Unlimited attempts
  
  

• No waiting period between attempts
  
  

• You can reapply immediately after failing
  
  

This makes NISM one of the most flexible certification systems.

Does NISM Have Age or Attempt Limits?

No attempt limits

No age limits

No maximum number of reappearances

Anyone—from a 12th-grade student to a working professional—can attempt it as many times as needed.

Validity and Revalidation of NISM Certifications

After clearing the exam:

• Certificate Validity: 3 years
  
  

• Renewal: Re-appear for the exam (no CPE available in some modules)
  
  

• Renewal should ideally be done before expiry
  
  

Benefits of NISM Certification for Taxation Consultancy

Taxation consultants often advise clients on:

• Investments
  
  

• Capital gains
  
  

• Portfolio taxation
  
  

• Retirement planning
  
  

• Mutual funds & stock market earnings
  
  

Having an NISM certificate:

• Enhances your credibility
  
  

• Helps you offer financial advisory beyond taxation
  
  

• Opens doors to stock market jobs
  
  

• Adds a professional edge to your consultancy
  
  

Tips to Clear NISM Exam on First Attempt

Here’s how to avoid multiple attempts:

✔ Understand the syllabus thoroughly

Each module has its own book—read it fully.

✔ Practice mock tests

They simulate real exam conditions.

✔ Revise formulas and concepts

Focus on NAV, expense ratio, derivatives, SEBI rules.

✔ Manage time wisely

Don’t get stuck on tricky questions.

Common Mistakes Students Make

• Skipping the official workbook
  
  

• Relying only on YouTube videos
  
  

• Not practicing mock tests
  
  

• Panicking during the exam
  
  

• Ignoring negative marking (if applicable)
  
  

Preparation Strategy and Study Plan

A simple and effective plan:

Week 1:

Read the NISM workbook slowly and understand concepts.

Week 2:

Revise important chapters like risk profiling, market intermediaries, ethics, and SEBI regulations.

Week 3:

Do 10–15 mock tests until your score consistently stays above 75%.

Week 4:

Revise again and take the exam.

Your goal is not just to pass, but to understand.

Conclusion

Whether you're from taxation consultancy or any financial field, the NISM exam is a crucial step towards enhancing your knowledge and career growth. The good news is—you have unlimited attempts, easy eligibility, and complete flexibility to learn at your pace.

Remember, cracking NISM is like learning to ride a bicycle. You may wobble at first, but once you find balance, you’ll ride smoothly. With the right preparation and confidence, you can clear it on your first attempt.

FAQs

1. How many attempts for NISM exam?

There are unlimited attempts. You can retake the exam as many times as you need.

2. What is NISM exam?

It’s a SEBI-regulated certification exam for professionals in the securities market.

3. How to apply for NISM exam ?

Register on the NISM certification portal, select your exam, choose a date, pay the fee, and download the admit card.

4. Is there any age limit for NISM exam?

No, anyone of any age can apply.

5. Is NISM difficult to clear?

No, with proper preparation and mock tests, most candidates pass easily.