NISM Series VIII Mock Test: Equity Derivatives
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 VIII exam
NISM Series VIII is the equity derivatives certification — index and stock futures, options pricing and Greeks, payoffs, hedging and trading strategies, trading and clearing mechanics, margins, accounting, taxation and investor protection.
Who should take it: Dealers, sales staff and other associated persons of brokers in the equity derivatives (F&O) segment, and traders who want a rigorous understanding of futures and options.
NISM Series VIII 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 VIII question bank
Our 50-question bank for NISM Series VIII covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Basics of Derivatives4 practice questions
- Understanding Index4 practice questions
- Introduction to Forwards and Futures8 practice questions
- Introduction to Options9 practice questions
- Strategies using Equity Futures and Options8 practice questions
- Trading Mechanism4 practice questions
- Clearing and Settlement System5 practice questions
- Legal and Regulatory Environment3 practice questions
- Accounting and Taxation2 practice questions
- Sales Practices and Investor Protection3 practice questions
Free NISM Series VIII 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.
A derivative is best described as a financial contract whose value:
- Is fixed at issue and never changes
- Depends on the value of an underlying asset, index or rate
- Depends only on the issuer's credit rating
- Is always equal to the face value
Show answer & explanation
Answer: B. Depends on the value of an underlying asset, index or rate
Derivatives derive their value from an underlying such as shares, an index, currency or interest rates.
The Nifty 50 index is constructed using which weighting method?
- Price weighting
- Equal weighting
- Full market capitalisation including promoter holdings
- Free-float market capitalisation weighting
Show answer & explanation
Answer: D. Free-float market capitalisation weighting
Free-float weighting counts only shares readily available for trading, excluding promoter and locked-in holdings.
A stock trades at ₹2,000. The risk-free rate is 8% p.a. (simple) and no dividend is expected. The fair price of a 3-month future is:
- ₹2,160
- ₹2,000
- ₹2,040
- ₹2,013.33
Show answer & explanation
Answer: C. ₹2,040
Fair value = S × (1 + r × t) = 2,000 × (1 + 0.08 × 3/12) = 2,040.
Stock options and index options traded on Indian exchanges are of which style?
- American
- Bermudan
- European
- Asian
Show answer & explanation
Answer: C. European
All equity options on Indian exchanges can be exercised only on the expiry day.
An investor who owns shares and sells call options on them to earn premium income is using a:
- Protective put
- Covered call
- Long straddle
- Bear put spread
Show answer & explanation
Answer: B. Covered call
The shares 'cover' the obligation under the sold call, so the strategy trades upside for premium.
NISM Series VIII 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 VIII mock test FAQs
How many questions are there in the NISM Series VIII exam?
The NISM Series VIII 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 VIII?
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 VIII?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series VIII 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 VIII 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.