NISM AcademyNISM Series XIX-E Category III AIF Managers: exam pattern, syllabus and how to register
For managers of Category III AIFs and their key investment team. NISM Series XIX-E is the certification for managers of Category III AIFs and their key investment team. It covers asset classes and portfolio theory, the AIF ecosystem, fund structure, fees, strategies, governance, valuation, exits, taxation and the regulatory environment.
NISM Series XIX-E exam pattern at a glance
- Questions
- 60 + 4 case studies
- Duration
- 120 minutes
- Total marks
- 100
- Passing score
- 60% (60/100)
- Negative marking
- 25% per wrong answer
- Exam fee
- ₹1,500 + charges
- Certificate valid
- 3 years
60 one-mark questions plus 4 case studies of 5 questions each (2 marks each, 40 marks). Fees and pattern are set by NISM and can change, so confirm on the official NISM Series XIX-E page before you book.
Who should take NISM Series XIX-E?
Managers of Category III AIFs and key members of their investment teams.
Why you need it: Meets SEBI’s certification requirement for the key investment team of a Category III AIF manager.
NISM Series XIX-E syllabus: 8 chapters
- Asset classes & portfolio theory
- AIF ecosystem
- Category III strategies
- Leverage & risk
- Fund structure & fees
- Valuation & NAV
- Taxation
- Regulatory framework
How to prepare for NISM Series XIX-E
Expect portfolio maths (Sharpe ratio, beta, leverage) in the case studies. 25% negative marking applies.
NISM Series XIX-E mock tests are coming soon
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What is NISM Series XIX-E?
NISM Series XIX-E is the Category III AIF Managers Certification Examination conducted by the National Institute of Securities Markets. Meets SEBI’s certification requirement for the key investment team of a Category III AIF manager.
How many questions are in NISM Series XIX-E?
The exam has 60 one-mark questions plus 4 case studies of 5 questions each (2 marks each, 40 marks), for a total of 100 marks. You get 120 minutes.
What is the passing score for NISM Series XIX-E?
You need 60%, which is 60 out of 100 marks.
Is there negative marking in NISM Series XIX-E?
Yes. 25% of a question’s marks are deducted for each wrong answer. Unattempted questions score zero.
How should I prepare for NISM Series XIX-E?
Expect portfolio maths (Sharpe ratio, beta, leverage) in the case studies. 25% negative marking applies.
How do I register for NISM Series XIX-E?
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-E certificate valid?
Three years from the date you pass.