NISM AcademyNISM Series XXV-A Research Services (Sales & Non-Core): exam pattern, syllabus and how to register
For sales and support staff at research analyst firms who don’t write research. NISM Series XXV-A, launched on 10 February 2026, is for persons associated with research services who handle sales and other non-core work, as defined in Regulation 2(ne) of the SEBI (Research Analysts) Regulations, 2014. It covers the regulatory framework, ethics, compliance and conduct in research-related activity. The exam is taken online with remote proctoring.
NISM Series XXV-A exam pattern at a glance
- Questions
- 50
- Duration
- 60 minutes
- Total marks
- 50
- Passing score
- 50% (25/50)
- Negative marking
- None
- Exam fee
- ₹1,500 + charges
- Certificate valid
- 3 years
50 multiple-choice questions, 1 mark each, remotely proctored. Fees and pattern are set by NISM and can change, so confirm on the official NISM Series XXV-A page before you book.
Who should take NISM Series XXV-A?
Sales, client-servicing and other non-core staff at SEBI-registered research analysts.
Why you need it: The certification for persons associated with research services in sales and non-core roles. Core research staff take Series XV instead.
NISM Series XXV-A syllabus: 6 chapters
- Research services basics
- Research Analyst Regulations
- Code of conduct & ethics
- Disclosures & conflicts
- Sales conduct & client dealing
- Grievances & compliance
How to prepare for NISM Series XXV-A
Fifty questions, no negative marking, 50% to pass, and you can take it from home. A few days of focused reading is enough for most people.
NISM Series XXV-A 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 XXV-A: it takes one tap and needs no sign-up.
Request NISM Series XXV-ANISM Series XXV-A FAQs
What is NISM Series XXV-A?
NISM Series XXV-A is the Research Services (Sales & Non-Core) Certification Examination conducted by the National Institute of Securities Markets. The certification for persons associated with research services in sales and non-core roles. Core research staff take Series XV instead.
How many questions are in NISM Series XXV-A?
The exam has 50 multiple-choice questions, 1 mark each, remotely proctored, for a total of 50 marks. You get 60 minutes.
What is the passing score for NISM Series XXV-A?
You need 50%, which is 25 out of 50 marks.
Is there negative marking in NISM Series XXV-A?
No. There is no negative marking, so attempt every question.
How should I prepare for NISM Series XXV-A?
Fifty questions, no negative marking, 50% to pass, and you can take it from home. A few days of focused reading is enough for most people.
How do I register for NISM Series XXV-A?
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 XXV-A certificate valid?
Three years from the date you pass.