NISM AcademyNISM Series XVI Commodity Derivatives: exam pattern, syllabus and mock tests
For dealers and sales staff in the commodity derivatives segment. NISM Series XVI covers commodity markets and derivatives: futures and options on commodities, pricing, hedging and arbitrage, how exchanges trade, clear and settle commodity contracts including physical delivery, and the regulatory framework since SEBI took over commodity regulation.
NISM Series XVI exam pattern at a glance
- Questions
- 100
- 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
100 multiple-choice questions, 1 mark each. Fees and pattern are set by NISM and can change, so confirm on the official NISM Series XVI page before you book.
Who should take NISM Series XVI?
Approved users and sales staff of trading members in the commodity derivatives segment, plus traders and hedgers in agri and non-agri commodities.
Why you need it: NISM sets it as the benchmark for associated persons working in the commodity derivatives segment of a recognised exchange.
NISM Series XVI syllabus: 10 chapters
- Introduction to Commodity Markets
- Commodity Indices
- Commodity Futures
- Commodity Options
- Uses of Commodity Derivatives
- Trading Mechanism
- Clearing, Settlement and Risk Management
- Legal and Regulatory Environment
- Accounting and Taxation
- Codes of Conduct and Investor Protection Measures
How to prepare for NISM Series XVI
Learn the cost-of-carry logic and which side hedgers take; those two ideas unlock many questions. Delivery and warehousing questions are easy marks if you learn the process.
Not sure where you stand?
Take the free NISM Series XVI level check. It takes about 30 minutes, needs no payment, and tells you which chapters to study first. Launch offer: free for our first 100 users. Log in and every mock test, note and flashcard is unlocked.
Start the level checkNISM Series XVI FAQs
What is NISM Series XVI?
NISM Series XVI is the Commodity Derivatives Certification Examination conducted by the National Institute of Securities Markets. NISM sets it as the benchmark for associated persons working in the commodity derivatives segment of a recognised exchange.
How many questions are in NISM Series XVI?
The exam has 100 multiple-choice questions, 1 mark each, for a total of 100 marks. You get 120 minutes.
What is the passing score for NISM Series XVI?
You need 60%, which is 60 out of 100 marks.
Is there negative marking in NISM Series XVI?
Yes. 25% of a question’s marks are deducted for each wrong answer. Unattempted questions score zero.
How should I prepare for NISM Series XVI?
Learn the cost-of-carry logic and which side hedgers take; those two ideas unlock many questions. Delivery and warehousing questions are easy marks if you learn the process.
How do I register for NISM Series XVI?
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 XVI certificate valid?
Three years from the date you pass.