NISM Series VIII: Equity Derivatives — Practice Questions & Mock Tests

697 practice questions covering the full 10-unit syllabus, a detailed explanation on every question, 697 memory hooks, and 3 full-length real-feel timed mock exams. The pass mark is 60% — we help you get there.

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Practice by topic

Basics of Derivatives
51 questions · 10 marks
Types of derivative contracts · Hedgers, speculators, arbitrageurs
Understanding the Index
34 questions · 5 marks
Index construction and weighting · Free-float market capitalisation
Forwards & Futures
125 questions · 20 marks
Cost of carry and fair value · Basis, contango, backwardation
Options
154 questions · 20 marks
Calls, puts and moneyness · Intrinsic value vs time value
Trading Strategies
74 questions · 10 marks
Covered call and protective put · Straddles, strangles and spreads
Trading Mechanism
64 questions · 10 marks
Contract specifications and expiry · Order types and matching
Clearing & Settlement
121 questions · 10 marks
Clearing corporation and novation · Initial, exposure and ELM margins
Legal and Regulatory Environment
25 questions · 5 marks
SCRA and the SEBI Act · SEBI derivatives framework
Accounting and Taxation
29 questions · 5 marks
Accounting for futures and options · Treatment of margin and premium
Sales Practices & Investor Protection
32 questions · 5 marks
Risk disclosure and suitability · Code of conduct for members

Question sets

Practice — 12 sets, 397 questions with instant feedback →Real-feel exams — 3 full-length timed papers, scored to the 60% pass mark →
Candidate preparing for the NISM Series VIII: Equity Derivatives exam

About the NISM VIII exam

The NISM Series VIII: Equity Derivatives Certification Examination is required for anyone dealing in the equity derivatives segment. It covers futures and options, trading strategies, the trading and clearing mechanism, the regulatory framework, and accounting, taxation and investor protection.

The exam has 100 multiple-choice questions of 1 mark each, a duration of 120 minutes, and a passing score of 60%. Unlike V-A and XII it carries negative marking of 25% (0.25 mark deducted per wrong answer), so guess only once you have eliminated an option. The fee is Rs 1,500 and the certificate is valid for 3 years.

📘 Download the official NISM Series VIII: Equity Derivatives workbook (PDF, March 2026) — the full 220-page syllabus material, free.

Other certifications on ScoreSetu

NISM Series XV: Research Analyst →NISM Series XII: Securities Markets Foundation →NISM Series V-A: Mutual Fund Distributors →