SurePass NISM
100% Free Official SEBI / NISM Study Materials

Official NISM Workbooks & Revision Notes

Download and read the official revised NISM certification workbooks in PDF for free. Prepare thoroughly with comprehensive chapters, formulas, and rapid revision sheets.

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Series V-A3.63 MB

Mutual Fund Distributors Workbook

Official comprehensive guide for aspiring and practicing mutual fund distributors covering fund structures, investment products, risk profiling, NAV calculation, and AMFI compliance.

  • 12 Complete syllabus chapters
  • Official SEBI/AMFI regulatory code
  • Sample practice questions & solutions
Series V-A (Hindi)4.71 MB

Mutual Fund Distributors (Hindi) Workbook

Complete official NISM Series V-A study material translated into Hindi for candidates appearing for the Hindi language certification.

  • संपूर्ण 12 अध्याय हिंदी में
  • सेबी एवं एम्फी दिशा-निर्देश
  • अभ्यास प्रश्न उत्तर सहित
Series VIII2.61 MB

Equity Derivatives Workbook

Core textbook covering index futures, stock options, Greeks, pricing models (Black-Scholes, Binomial), regulatory requirements, and risk management systems.

  • Futures & Options contract specs
  • Option strategies & payoff diagrams
  • SPAN margin calculation walkthrough
Series I3.47 MB

Currency Derivatives Workbook

Detailed curriculum on currency pairs (USD-INR, EUR-INR, GBP-INR, JPY-INR), interest rate parity, forex risk hedging, and exchange-traded FX settlement.

  • Exchange-traded currency pairs
  • Cross-currency dynamics & hedging
  • RBI-SEBI joint regulatory framework
Series IV4.67 MB

Interest Rate Derivatives Workbook

In-depth guide covering Government bond futures (91-day T-bills, 10-year G-sec), yield curve dynamics, duration matching, and hedging bank balance sheets.

  • Bond yield curves & duration
  • Cheapest to Deliver (CTD) bonds
  • Hedging fixed income portfolios
Series XIII0.42 MB

Common Derivatives Workbook

Consolidated study material for market participants operating across Equity, Currency, and Commodity derivatives in Indian exchanges.

  • Cross-asset derivative fundamentals
  • Unified market mechanisms
  • Integrated surveillance rules
Series XVI2.81 MB

Commodity Derivatives Workbook

Comprehensive guide to MCX & NCDEX commodity futures, agri vs non-agri contracts, warehousing, delivery settlement mechanisms, and GST compliance.

  • Agri and Non-agri contracts
  • Physical delivery & accredited warehouses
  • Commodity risk hedging for corporates
Series X-A4.03 MB

Investment Adviser (Level 1) Workbook

Foundational guide for SEBI Registered Investment Advisers (RIA) covering financial planning processes, asset allocation, insurance, retirement, and tax planning.

  • Personal financial statement analysis
  • Time value of money calculations
  • Risk profiling & asset allocation models
Series X-B4.92 MB

Investment Adviser (Level 2) Workbook

Advanced advisory guide covering comprehensive estate planning, succession laws, advanced taxation, customized portfolio construction, and RIA regulatory audits.

  • Advanced case studies & advisory scenarios
  • Estate planning, wills & family trusts
  • SEBI RIA Regulations & compliance obligations
Series XV5.55 MB

Research Analyst Workbook

The definitive guide for equity research analysts covering fundamental analysis, financial statement forecasting, DCF valuation models, technical analysis, and ethics.

  • Company financial statement analysis
  • Valuation methodologies (DCF, multiples)
  • SEBI Research Analyst Regulations 2014
Series XVII6.77 MB

Retirement Adviser Workbook

Official guide on National Pension System (NPS), Atal Pension Yojana (APY), superannuation funds, reverse mortgages, and retirement wealth accumulation and decumulation.

  • NPS Tier 1 and Tier 2 architecture
  • PFRDA regulations & intermediary guidelines
  • Annuity calculation & retirement portfolio construction
Series XXI-A1.96 MB

PMS Distributors Workbook

Official curriculum for PMS distributors covering portfolio mandates, high-net-worth client onboarding, performance benchmarking (TWRR vs IRR), and regulatory disclosures.

  • Discretionary vs Non-Discretionary PMS
  • SEBI PMS Regulations & minimum investment threshold
  • Performance reporting & audited fee disclosures
Series XXI-B5.47 MB

Portfolio Managers Workbook

Advanced curriculum for Principal Officers and portfolio management executives covering portfolio theory, modern asset allocation, operational due diligence, and statutory reporting.

  • Markowitz theory & Capital Asset Pricing Model
  • Operational risk, custodial oversight & trade allocations
  • Statutory audit & SEBI inspection preparedness
Series XIX-A3.78 MB

AIF Distributors Workbook

Essential study material covering Category I, II, and III AIFs, Private Equity, Venture Capital, Angel Funds, private debt, and accredited investor regulations.

  • AIF categorization (Cat I, II, III)
  • Private Equity & Venture Capital structures
  • PPM terms, side letters & LP-GP governance
Series XIX-C5.04 MB

AIF Managers Workbook

Comprehensive guide for fund managers covering investment committee duties, valuation of unlisted securities, hurdle rates, waterfall distributions, and ESG considerations.

  • Fund structuring & PPM audit
  • Valuation guidelines for unlisted startups & PE assets
  • Carried interest, management fees & waterfall calculations
Series V-D7.12 MB

Mutual Fund SIF Workbook

Official guide on specialized mutual fund investment vehicles including REITs, InvITs, smart beta funds, and structured alternative mutual fund products.

  • REITs and InvITs architecture
  • Specialized asset allocation strategies
  • Accredited investor requirements for SIFs
Series V-B2.68 MB

Mutual Fund Foundation Workbook

Foundation study guide designed for postal agents, retired bank employees, and rural distributors entering the mutual fund distribution ecosystem.

  • Simplified mutual fund concepts
  • Investor KYC and account opening
  • Investor communication & grievance handling
Series V-C4.34 MB

Mutual Fund Distributors (Level 2) Workbook

Advanced mutual fund guide focusing on fund manager strategies, active vs passive attribution, international investing, derivatives in mutual funds, and taxation.

  • Performance attribution (Sharpe, Treynor, Alpha)
  • Fund management investment philosophies
  • Complex tax structuring across multi-asset funds
Series VI2.60 MB

Depository Operations Workbook

Covers NSDL and CDSL depository architecture, dematerialization, rematerialization, pledge/hypothecation, corporate actions, and beneficial owner account operations.

  • NSDL and CDSL operating rules
  • Demat and Remat workflows
  • Pledge, hypothecation & corporate action processing
Series VII3.40 MB

Securities Operations & Risk (SORM) Workbook

The industry standard for back-office and middle-office operations at brokerage firms covering trade processing, settlement guarantees, client margins, and risk surveillance.

  • Clearing Corporations & settlement cycles (T+1)
  • Broker risk management & client capital adequacy
  • Core back-office reconciliation
Series IX2.25 MB

Merchant Banking Workbook

Detailed curriculum on IPOs, FPOs, Rights Issues, Open Offers, Buybacks, Delisting, and SEBI (ICDR) and SEBI (SAST) compliance.

  • SEBI (ICDR) Regulations for IPOs/FPOs
  • Takeover Code (SAST) and open offers
  • Due diligence and underwriting agreements
Series II-A2.04 MB

RTA (Corporate) Workbook

Curriculum for RTAs managing public equity issues, dispatch of allotments, dividend warrants, record dates, transfer of shares, and investor relations.

  • Public issue allotment processing
  • Corporate actions & dividend reconciliation
  • SEBI Registrar regulations & audit
Series II-B2.60 MB

RTA (Mutual Funds) Workbook

Operations guide for mutual fund RTAs (CAMS, KFintech) covering unit purchase, redemptions, switches, SIP/STP processing, FATCA/CRS compliance, and KYC norms.

  • Mutual fund transaction execution & cut-off times
  • SIP, STP, SWP processing workflows
  • AML/PMLA and FATCA compliance checks
Series III-A2.98 MB

Compliance (Non-Fund) Workbook

Statutory manual for Compliance Officers at stock brokerages, depository participants, and merchant banks covering SEBI Act, SCRA, Insider Trading, and PMLA.

  • Prevention of Insider Trading (PIT) Regulations
  • Anti-Money Laundering & PMLA frameworks
  • Compliance officer statutory reporting
Series III-C4.04 MB

Compliance (Fund) Workbook

Compliance textbook tailored for Asset Management Companies (AMCs) and trustee companies governing scheme compliance, Chinese walls, and valuation norms.

  • AMC trustee duties & governance
  • Conflict of interest & Chinese wall policies
  • Valuation of illiquid & debt securities
Series XII2.32 MB

Securities Market Foundation Workbook

An introductory textbook for university students, fresh graduates, and career changers introducing primary markets, secondary markets, mutual funds, and equities.

  • Overview of Indian capital markets
  • Fundamentals of equity, debt & derivatives
  • SEBI regulatory roles & investor safeguards
Series XXII3.68 MB

Fixed Income Securities Workbook

Detailed study guide on government securities, corporate bonds, commercial papers, credit ratings, yield curves, bond pricing, and debt market settlement.

  • G-Sec, T-Bills & Corporate Bond market mechanics
  • Yield to Maturity (YTM), duration & convexity
  • Credit rating methodologies & default risk management

Educational Fair Use & NISM License Notice

These examination workbooks are published by the National Institute of Securities Markets (NISM) under SEBI mandates.

Study material and revision workbooks provided on SurePass NISM are strictly for non-commercial educational reference to assist aspiring market participants and students preparing for certification examinations. No copyright infringement is intended. Candidates can also obtain certified physical copies from the official NISM portal.