The numbers for the NISM Series XII Securities Markets Foundation examination, as published by NISM.
Passing marks and pattern
| Metric | Value |
|---|---|
| Total marks | 100 |
| Passing marks | 60 (60%) |
| Number of questions | 100 |
| Marks per question | 1 |
| Negative marking | None |
| Duration | 120 minutes |
No negative marking — so attempt all 100
NISM's rule for Series XII is explicit: "There shall be no negative marking."
This makes your exam-day strategy simple. Never leave a question unanswered. On a four-option question a blind guess is worth an expected 0.25 marks and costs nothing; a blank is worth exactly zero. If you leave eight questions blank because you were unsure, you have discarded roughly two marks for no reason at all.
Note the contrast with Series VIII and Series XV, both of which deduct 0.25 per wrong answer. If you are preparing for more than one NISM exam, check which rules apply to which — carrying the cautious habit into XII costs you marks.
Exam fee
₹1,003, with payment gateway charges extra.
That makes Series XII the cheapest of the commonly taken NISM certifications — Series V-A and VIII are both ₹1,500. It is a genuinely low-cost way to test whether the securities industry is for you.
The fee is per attempt, so a couple of timed mocks beforehand are cheaper than a re-sit.
How to register
- Create an account on the NISM certification portal.
- Complete your profile, including PAN.
- Select NISM-Series-XII: Securities Markets Foundation Certification Examination.
- Pick a test centre and slot.
- Pay and download your admit card.
Certificate validity
3 years from the date of the examination.
Because Series XII is a voluntary foundation certification rather than a licensing requirement, most candidates do not renew it — by the time it expires they have usually moved on to a mandatory certification such as Series V-A or Series XV, which is the one their role actually requires.
On exam day
- Bring a government-issued photo ID — Aadhaar, PAN, passport or driving licence.
- Bring your admit card.
- Arrive 30 minutes early for verification.
- No calculator or notes; an on-screen calculator is provided.
How hard is it?
Series XII is the most approachable NISM exam in terms of content — it surveys the market rather than drilling into any one part, and there is very little mathematics. The 60% pass mark is the real hurdle, and it is a fair one.
The most common way candidates lose marks is by rushing the True/False questions, which Series XII uses heavily. They turn on a single word, and skim-reading them is expensive.
Practise free on ScoreSetu: 500 NISM XII questions with explanations, plus timed mocks scored to the real 60% pass mark.
Quick recap
- Pass: 60% (60/100). No negative marking — answer everything.
- Fee: ₹1,003 plus gateway charges, per attempt.
- Pattern: 100 questions, 1 mark each, 120 minutes.
- Validity: 3 years.
- Not mandatory for any role.