NISM Series III-C Mock Test: Securities Intermediaries Compliance (Fund)
Up to 30 full-length mock tests of 100 questions each, built on the official syllabus, with an explanation for every answer.
About the NISM Series III-C exam
NISM Series III-C covers compliance for fund-based intermediaries — the SEBI (Mutual Funds) Regulations, AIF, REIT and InvIT regulations, insider trading, PMLA and governance duties of trustees and AMCs.
Who should take it: Compliance officers and compliance staff at AMCs, AIF managers, REIT/InvIT managers and other fund intermediaries.
NISM Series III-C exam pattern
| Questions | 100 multiple-choice questions |
|---|---|
| Total marks | 100 |
| Duration | 120 minutes |
| Passing score | 60% |
| Negative marking | −0.25 mark per wrong answer |
Indicative pattern. Exam bodies revise patterns — confirm the details in the latest official notification before your exam.
Syllabus covered in our NISM Series III-C question bank
Our 50-question bank for NISM Series III-C covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Introduction to the Financial System2 practice questions
- Regulatory Framework – General View2 practice questions
- Introduction to Compliance2 practice questions
- SEBI Act, 19922 practice questions
- SCRA, 1956 and SCRR, 19572 practice questions
- SEBI (Intermediaries) Regulations, 20082 practice questions
- SEBI (Prohibition of Insider Trading) Regulations3 practice questions
- SEBI (PFUTP) Regulations, 20032 practice questions
- Prevention of Money Laundering Act, 20022 practice questions
- SEBI (KYC Registration Agency) Regulations, 20112 practice questions
- SEBI (Foreign Portfolio Investors) Regulations, 20192 practice questions
- Foreign Exchange Management Act2 practice questions
- Depositories Act, 19962 practice questions
- SEBI (Mutual Funds) Regulations11 practice questions
- SEBI (AIF) Regulations5 practice questions
- SEBI (InvIT) Regulations3 practice questions
- SEBI (REIT) Regulations4 practice questions
Free NISM Series III-C sample questions
Try five questions from our bank. Each mock test gives you 100 like these, with your score, chapter-wise analysis and explanations at the end.
Which of the following is an example of a financial intermediary?
- A household buying gold jewellery
- A government department collecting taxes
- A mutual fund pooling money from investors
- A company issuing its own shares directly
Show answer & explanation
Answer: C. A mutual fund pooling money from investors
Mutual funds pool savings and invest them, linking savers with users of capital.
Which body regulates banks and non-banking financial companies in India?
- IRDAI
- PFRDA
- Reserve Bank of India
- SEBI
Show answer & explanation
Answer: C. Reserve Bank of India
The RBI is the banking regulator and also supervises NBFCs.
Which of the following is the best example of compliance risk for an AMC?
- A rise in interest rates
- Being penalised for failing to follow SEBI's scheme investment restrictions
- A competitor launching a similar scheme
- A fall in the stock market
Show answer & explanation
Answer: B. Being penalised for failing to follow SEBI's scheme investment restrictions
Compliance risk is the risk of sanctions or loss from not complying with laws and regulations.
A person aggrieved by an order of a SEBI adjudicating officer may appeal to SAT within:
- 7 days
- 90 days
- 45 days from receipt of the order
- One year
Show answer & explanation
Answer: C. 45 days from receipt of the order
Appeals to SAT must be filed within 45 days, extendable if sufficient cause is shown.
Under the SCRA, 1956, a company's shares can be traded on a stock exchange only if:
- The company is a government company
- They are listed on that stock exchange or permitted to trade there
- SEBI approves each trade
- The company is profitable
Show answer & explanation
Answer: B. They are listed on that stock exchange or permitted to trade there
Securities must be listed or permitted to trade on a recognised stock exchange.
NISM Series III-C mock test plans
Every plan unlocks one full-length mock test per day of the plan. Prices include GST.
| Plan | Mock tests | Questions | Price |
|---|---|---|---|
| 10 Days | 10 mock tests | 1,000 questions | ₹199 incl. GST |
| 15 Days | 15 mock tests | 1,500 questions | ₹279 incl. GST |
| 20 Days Popular | 20 mock tests | 2,000 questions | ₹349 incl. GST |
| 30 Days Best value | 30 mock tests | 3,000 questions | ₹449 incl. GST |
Official study material
Links open the official website. We do not host or alter official material.
NISM Series III-C mock test FAQs
How many questions are there in the NISM Series III-C exam?
The NISM Series III-C paper has 100 multiple-choice questions for 100 marks, to be completed in 120 minutes. This is the indicative pattern — always confirm it in the latest official notification.
Is there negative marking in NISM Series III-C?
Yes. −0.25 mark per wrong answer (25% of the marks for that question). Our mock tests apply the same rule.
What is the pass mark for NISM Series III-C?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series III-C mock tests do I get?
One full-length mock test is unlocked for each day of your plan: 10, 15, 20 or 30 mock tests on the 10 Days, 15 Days, 20 Days or 30 Days plans. You can retake any unlocked test while your plan is active.
Are these the actual exam questions?
No. Every question is an original practice question written to match the official syllabus and the exam's style. Reproducing real exam questions is not permitted, and we do not do it.
Where can I get the official NISM Series III-C study material?
NISM provides the latest workbook free of cost on its official portal after a short registration. The link is in the Official study material section on this page.