1. Who can take NISM-Series-XVI: Commodity Derivatives Certification Examination?

The following persons can take NISM-Series-XVI: Commodity Derivatives Certification Examination:

• All approved users and sales personnel of trading members of commodity derivatives segments of recognized stock exchanges
• Interested students/professionals
• Any other individuals

2. For whom is this examination mandated?

SEBI’s Notification No. LAD-NRO/GN/2019/41 dated November 21, 2019 (please refer in the ‘Circulars’ section) has specified that the associated persons functioning as approved users and sales personnel of the trading members registered as such in the commodity derivatives segment of a recognized stock exchange shall obtain certification from the National Institute of Securities Markets by passing the NISM-Series-XVI: Commodity Derivatives Certification Examination as mentioned in the communiqué No. NISM/Certification/Series-XVI: Commodity Derivatives/2019/01 dated October 11, 2019 issued by NISM.

3. How can I register for NISM-Series-XVI: Commodity Derivatives Certification Examination?

Candidates can register with for this exam at: :https://certifications.nism.ac.in/nismaol/

After successful registration, candidates may select a test centre, date and time slot of their choice on the Test Administrator website. Candidates are suggested to read further instructions available on NISM certification website.

4. What is the fee structure?

The fees for NISM-Series-XVI: Commodity Derivatives Certification Examination is Rs 1,500 (Payment gateway charges extra).

5. What is the assessment structure?

The NISM-Series-XVI: Commodity Derivatives Certification Examination will be of 100 marks consisting of 100 questions of 1 mark each, and should be completed in 2 hours. There will be negative marking of 25% of the marks assigned to each question. The passing score for the examination is 60%.

6. Is there a study material available for preparing for this examination?

You will receive a soft copy of the workbook/study material after enrolment for the examination. For non-receipt of soft copy of the workbook/study material, you may contact NISM at: certification@nism.ac.in

7. I have passed NISM-Series-XVI: Commodity Derivatives Certification Examination. When will I receive the certificate?

Only the candidates who have produced their Income Tax Permanent Account Number (PAN) during registration would receive the NISM Certificate within two weeks of appearing for the examination.

Candidates who produced other identification proofs would not receive the NISM certificate. They would receive only the temporary mark sheet at the end of the examination.

8. Where do I get sample questions for the Certification Examination? How can I appear for a mock test?

Candidates may refer to the chapter-end sample questions and the worked-out examples/ illustrations provided in the workbook. To appear for a mock test, candidates may click here.

9. I have passed NISM-Series-XVI: Commodity Derivatives Certification Examination and also provided PAN details. However, I have not received the certificate. Whom should I contact?

For non-receipt of certificate, please send an email to certification@nism.ac.in mentioning your enrolment and exam details.

10. What is the validity period of the certificate?

The certificate will be valid for 3 years from the date of the examination.

11. How do I renew my certificate?

To renew your current certificate, you need to appear for NISM CPE for Commodity Derivatives or successfully pass the NISM Commodity Derivatives Certification Examination before the expiry of such certificate.

12. Can I request for re-evaluation of NISM Certification Examinations?

NISM Policy on Re-evaluation of performance of candidates appearing for Certification Examination and resolution of doubts about the questions forming part of such examination, if any.

“No re-evaluation of the performance of candidates appearing for Certification Examination conducted by NISM (Mandatory & Non-Mandatory examination) is permitted since the assessment of answers, with respect to Certification Examinations questions which are in the nature of selection of only one correct answers from multiple choices offered, is carried out in an objective manner by in-built system architecture created for Certification Examination without any scope for human intervention and subjectivity element.

Also, considering the examination structure, no disclosure of the questions and/or answers is permitted as it will violate the confidentiality of the question bank, which is the essence of the examination.

In view of the above, no communication regarding re-evaluation, etc. will be entertained/serviced by NISM.”

Subject to the above, request/s received from a candidate for resolution of doubts about a question forming part of such examination will be considered as per the following policy.

1. Candidate’s request/s will be considered only when he/she specifically mentions particular question or two which he/she thinks contain errors. Claims/ to recheck more than two questions shall normally be not permitted unless substantive material is provided by the candidate as to why he/she considers errors in such questions. In no case, claim/s to recheck all the questions appeared in his/her question paper shall be entertained.
2. No request/s to disclose/discuss question/s and/or their answers shall be entertained as disclosure of the question/s will violate the essence of the question bank viz. breach the confidentiality/secrecy of the Question bank.
3. Only those request/s made on-the-spot (before leaving the test center) will be considered for verification.
4. When a valid request is received from a candidate at the Test Centre, it shall be forwarded by the respective TA to NISM. NISM’s team will look into claim relating to the contested question/s to verify whether there is a mistake in the question or answer. If it is prima faciefound that the question or answer contains a mistake, no score will be computed and consequently no score card will be issued then at the Test Centre.
5. Such matter will then be escalated with the question / answer to the Committee with the details of the nature of error, the correct version of the question or contested correct answer and system recognized correct answer. The Committee, after due diligence and proper scrutiny, will arrive at a conclusion whether the claim made by a candidate in relation to a question or answer is right. Such conclusion will be recorded in writing and put up for formal approval to the authority of NISM.
6. Score computation, kept in abeyance as per point 4, shall be carried based on the approval as per point – 5. Such score card will then be issued to the candidate by TA/NISM.
7. Even though NISM endeavors best efforts and has put in place a robust mechanism to review its question bank intermittently, attributable to continuous changes taking place emanating from dynamics of market, encompassing products and features, and its regulatory framework, there is a possibility of inadvertently escaping some updation and/or escaping indirect impact on some question/answer. Therefore, to take care of such eventuality, the above process of entertaining request from the candidate in relation to the question/answer is put in place.
8. The above policy and process will be subject to review from time to time and shall be binding and final in relation to any claim and/or matter when disposed off with the approval of the authority of NISM.
9. I already have MCX/NCDEX/NSE valid certificate for Commodity Derivatives. Do I need to appear for NISM-Series-XVI: Commodity Derivatives Certification Examination?

You do not need to take NISM-Series-XVI: Commodity Derivatives Certification Examination, if you already have any of the following valid certificates as on the date of SEBI notification No. LAD-NRO/GN/2019/41 dated November 21, 2019:

• MCCP Certification (MCX Certified Commodity Professional)
• NCDEX Institute of Commodity Markets and Research (NICR) – Commodity Trader Certification Course
• NSE’s Certification in Financial Markets (NCFM) – Commodity Market Module

However, in order to revalidate such certificate, you may have to either successfully clear the NISM-Series-XVI: Commodity Derivatives Certification Examination or complete the NISM’s CPE for Commodity Derivatives, before the expiry of validity of such certificate.