NCFM
                  NSE's CERTIFICATION IN FINANCIAL MARKETS 
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
            Financial Markets: A Beginners' Module 
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                                
                NATIONAL STOCK EXCHANGE OF INDIA LIMITED 
            
     
             Test Details 
               Sr.                                                               Fees       Test Duration      No. of      Maximum        Pass      Certificate 
              No.  Name of Module                                                (Rs.)       (in minutes)  Questions        Marks         Marks       Validity 
                                                                                                                                           (%) 
                1    Financial Markets: A Beginners' Module *                    1500            120             60           100           50           5 
                2    Mutual Funds : A Beginners' Module                          1500            120             60           100           50           5 
                3    Currency Derivatives: A Beginner's Module                   1500            120             60           100           50           5 
                4    Equity Derivatives: A Beginner's Module                     1500            120             60           100           50           5 
                5    Interest Rate Derivatives: A Beginner's Module              1500            120             60           100           50           5 
                6    Commercial Banking in India: A Beginner's Module            1500            120             60           100           50           5 
                7    Securities Market (Basic) Module                            1500            120             60           100           60           5 
                8    Capital Market (Dealers) Module *                           1500            105             60           100           50           5 
                9    Derivatives Market (Dealers) Module *                       1500            120             60           100           60           3 
               10  FIMMDA-NSE Debt Market (Basic) Module                         1500            120             60           100           60           5 
               11  Investment Analysis and Portfolio                             1500            120             60           100           60           5 
                     Management Module 
               12  Fundamental Analysis Module                                   1500            120             60           100           60           5 
               13  Securities Market (Advanced) Module                           1500            120             60           100           60           5 
               14  Mutual Fund (Advanced) Module                                 1500            120             60           100           60           5 
               15  Banking Sector Module                                         1500            120             60           100           60           5 
               16  Insurance Module                                              1500            120             60           100           60           5 
               17  Macroeconomics for Financial Markets Module                   1500            120             60           100           60           5 
               18  NISM-Series-I: Currency Derivatives Certification             1000            120            100           100           60           3 
                     Examination 
               19    NISM-Series-II-A: Registrars to an Issue and                1000            120            100           100           50           3 
                     Share Transfer Agents - Corporate 
                     Certification Examination 
               20    NISM-Series-II-B: Registrars to an Issue and                1000            120            100           100           50           3 
                     Share Transfer Agents - Mutual Fund 
                     Certification Examination 
               21    NISM-Series-IV: Interest Rate                               1000            120            100           100           60           3 
                     Derivatives Certification Examination 
               22    NISM-Series-V-A: Mutual Fund                                1000            120            100           100           50           3 
                     Distributors Certification Examination * 
               23  NISM-Series-VI: Depository Operations                         1000            120            100           100           60           3 
                     Certification Examination 
               24  NISM Series VII: Securities Operations and                    1000            120            100           100           50           3 
                     Risk Management Certification Examination 
               25  Certified Personal Financial Advisor                          4000            120             80           100           60           3 
                     (CPFA) Examination 
               26  NSDL-Depository Operations Module                             1500             75             60           100          60 #          5 
               27  Commodities Market Module                                     1800            120             60           100           50           3 
               28  Surveillance in Stock Exchanges Module                        1500            120             50           100           60           5 
               29  Corporate Governance Module                                   1500             90            100           100           60           5 
               30  Compliance Officers (Brokers) Module                          1500            120             60           100           60           5 
               31  Compliance Officers (Corporates) Module                       1500            120             60           100           60           5 
               32  Information Security Auditors Module (Part-1)                 2250            120             90           100           60           2 
                     Information Security Auditors Module (Part-2)               2250            120             90           100           60             
               33  Options Trading Strategies Module                             1500            120             60           100           60           5 
                                                                               2000 per                                                                    
               34  FPSB India Exam 1 to 4**                                    exam              120             75           140           60          NA 
               35  Examination 5/Advanced Financial Planning **                  5000            240             30           100           50          NA 
               36  Equity Research Module ##                                     1500            120             65           100           55           2 
               37  Issue Management Module ##                                    1500            120             80           100           55           2 
               38  Market Risk Module ##                                         1500            120             50           100           55           2 
               39  Financial Modeling Module ###                                 1000            150             50           75            50          NA 
             *       Candidates have the option to take the tests in English, Gujarati or Hindi languages. 
             #       Candidates securing 80% or more marks in NSDL-Depository Operations Module ONLY will be certified as 'Trainers'. 
             **      Following are the modules of Financial Planning Standards Board India (Certified Financial Planner Certification) 
                           FPSB India Exam 1 to 4 i.e. (i) Risk Analysis & Insurance Planning (ii) Retirement Planning & Employee Benefits 
                           (iii) Investment Planning and (iv) Tax Planning & Estate Planning 
                           Examination 5/Advanced Financial Planning ##      
             Modules of Finitiatives Learning India Pvt. Ltd. (FLIP) ###   Module of 
             IMS Preschool 
             The curriculum for each of the modules (except Modules of Financial Planning Standards Board India, Finitiatives Learning India Pvt. Ltd. and 
             IMS Proschool) is available on our website: www.nseindia.com > Education > Certifications. 
     Preface 
     The National Stock Exchange of India Ltd. (NSE), set up in the year 1993, is 
     today the largest stock exchange in India and a preferred exchange for trading in 
     equity, debt and derivatives instruments by investors. NSE has set up a sophisticated 
     electronic trading, clearing and settlement platform and its infrastructure serves as a 
     role model for the securities industry. The standards set by NSE in terms of market 
     practices; products and technology have become industry benchmarks and are being 
     replicated by many other market participants. It provides a screen-based automated 
     trading system with a high degree of transparency and equal access to investors 
     irrespective  of  geographical  location.  The  high  level  of  information  dissemination 
     through  the  on-line  system  has  helped  in  integrating  retail  investors  across  the 
     nation. The exchange has a network in more than 350 cities and its trading members 
     are connected to  the  central   servers  of the  exchange   in   Mumbai  through   a 
     sophisticated telecommunication network comprising of over 2500 VSATs. NSE has 
     around 850 trading members and provides trading in over   1000 equity shares and 
     2500  debt securities.   Besides this,   NSE  provides trading   in  various  derivative 
     products  such  as  index  futures,  index  options,  stock  futures,  stock  options  and 
     interest rate futures. 
     At NSE, it has always been our endeavour to continuously upgrade the skills and 
     proficiency  of  the  Indian  investor.  Since,  financially  literate  investors  are  the 
     backbone of the securities market, knowledge and awareness about the securities 
     market is of the foremost concern to us, starting with the most basic of information 
     being made available as the first step. 
     This booklet has therefore been prepared for those of you who are keen to acquire 
     some basic but key information about the stock markets as an initial step towards 
     becoming a more informed investor. We hope this booklet will act as a means of 
     satisfying some of your initial queries on the stock markets.