NISM AcademyNISM Series XXI-B Portfolio Managers: exam pattern, syllabus and how to register
For principal officers and staff of portfolio management services (PMS) firms. NISM Series XXI-B is the certification for principal officers and other employees of portfolio managers registered with SEBI. It covers investment analysis, portfolio construction and management, PMS operations and fees, performance measurement, taxation and the SEBI (Portfolio Managers) Regulations, 2020, partly through case studies.
NISM Series XXI-B exam pattern at a glance
- Questions
- 90 + 6 case studies
- Duration
- 180 minutes
- Total marks
- 150
- Passing score
- 60% (90/150)
- Negative marking
- 25% per wrong answer
- Exam fee
- ₹3,000 incl. GST
- Certificate valid
- 3 years
90 one-mark questions plus 6 case studies of 5 questions each (2 marks each, 60 marks). Fees and pattern are set by NISM and can change, so confirm on the official NISM Series XXI-B page before you book.
Who should take NISM Series XXI-B?
Principal officers, fund managers and other employees of PMS firms.
Why you need it: Meets the certification requirement for principal officers and employees of SEBI-registered portfolio managers.
NISM Series XXI-B syllabus: 8 chapters
- Investment basics
- Equity & debt analysis
- Portfolio management process
- PMS regulations
- Performance measurement
- Operations, fees & reporting
- Taxation
- Ethics & client dealing
How to prepare for NISM Series XXI-B
Allow 5 to 6 weeks. Practise performance and risk measures (returns, Sharpe, beta) for the case studies. 25% negative marking applies.
NISM Series XXI-B mock tests are coming soon
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What is NISM Series XXI-B?
NISM Series XXI-B is the Portfolio Managers Certification Examination conducted by the National Institute of Securities Markets. Meets the certification requirement for principal officers and employees of SEBI-registered portfolio managers.
How many questions are in NISM Series XXI-B?
The exam has 90 one-mark questions plus 6 case studies of 5 questions each (2 marks each, 60 marks), for a total of 150 marks. You get 180 minutes.
What is the passing score for NISM Series XXI-B?
You need 60%, which is 90 out of 150 marks.
Is there negative marking in NISM Series XXI-B?
Yes. 25% of a question’s marks are deducted for each wrong answer. Unattempted questions score zero.
How should I prepare for NISM Series XXI-B?
Allow 5 to 6 weeks. Practise performance and risk measures (returns, Sharpe, beta) for the case studies. 25% negative marking applies.
How do I register for NISM Series XXI-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 XXI-B certificate valid?
Three years from the date you pass.