NISM AcademyNISM Series XIX-B AIF (Category III) Distributors: exam pattern, syllabus and how to register
For distributors and placement agents of Category III AIFs. NISM Series XIX-B is a voluntary certification for distributors and placement agents of Category III Alternative Investment Funds, which use complex strategies such as long-short equity and leverage. It covers strategies, risk, structure, valuation, fees, taxation and regulation.
NISM Series XIX-B exam pattern at a glance
- Questions
- 80 + 5 case studies
- Duration
- 120 minutes
- Total marks
- 100
- Passing score
- 60% (60/100)
- Negative marking
- 10% per wrong answer
- Exam fee
- ₹1,770 + GST & charges
- Certificate valid
- 3 years
80 one-mark questions plus 5 case studies of 4 one-mark questions each (20 marks). Fees and pattern are set by NISM and can change, so confirm on the official NISM Series XIX-B page before you book.
Who should take NISM Series XIX-B?
Distributors, placement agents and wealth managers who offer Category III AIFs to clients.
Why you need it: A voluntary benchmark for Category III AIF distribution.
NISM Series XIX-B syllabus: 7 chapters
- Category III AIF basics
- Hedge fund strategies
- Leverage & derivatives
- Fund structure & NAV
- Performance & fees
- Taxation
- Regulation & distribution practice
How to prepare for NISM Series XIX-B
Understand long-short, leverage and how Category III is taxed differently from I and II. Negative marking is only 10%.
NISM Series XIX-B mock tests are coming soon
We are building exam practice one series at a time and start with the most requested. Tell us you want NISM Series XIX-B: it takes one tap and needs no sign-up.
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What is NISM Series XIX-B?
NISM Series XIX-B is the AIF (Category III) Distributors Certification Examination conducted by the National Institute of Securities Markets. A voluntary benchmark for Category III AIF distribution.
How many questions are in NISM Series XIX-B?
The exam has 80 one-mark questions plus 5 case studies of 4 one-mark questions each (20 marks), for a total of 100 marks. You get 120 minutes.
What is the passing score for NISM Series XIX-B?
You need 60%, which is 60 out of 100 marks.
Is there negative marking in NISM Series XIX-B?
Yes. 10% of a question’s marks are deducted for each wrong answer. Unattempted questions score zero.
How should I prepare for NISM Series XIX-B?
Understand long-short, leverage and how Category III is taxed differently from I and II. Negative marking is only 10%.
How do I register for NISM Series XIX-B?
Create an account on NISM’s certification portal, choose the exam, pick a test centre or remote-proctored slot, and pay the fee online. NISM Academy can’t register you; we link you to the official portal.
How long is the NISM Series XIX-B certificate valid?
Three years from the date you pass.