NISM Series XIII Mock Test: Common 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 XIII exam
NISM Series XIII is a combined derivatives certification covering equity, currency and interest rate derivatives — forwards, futures, options, strategies, trading and clearing, and the regulatory framework across segments.
Who should take it: Associated persons who deal across several derivatives segments and want one certification covering equity, currency and interest rate derivatives.
NISM Series XIII 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 XIII question bank
Our 50-question bank for NISM Series XIII covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Basics of Derivatives3 practice questions
- Introduction to the Underlying Markets6 practice questions
- Introduction to Forwards and Futures7 practice questions
- Strategies Using Futures6 practice questions
- Introduction to Options7 practice questions
- Option Trading Strategies6 practice questions
- Trading, Clearing, Settlement & Risk Management6 practice questions
- Legal and Regulatory Environment3 practice questions
- Accounting and Taxation3 practice questions
- Sales Practices, Code of Conduct & Investor Protection3 practice questions
Free NISM Series XIII 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 an exchange-traded derivative?
- Nifty 50 index options
- A currency forward booked with a bank
- A customised interest rate swap with a bank
- A bilateral forward rate agreement
Show answer & explanation
Answer: A. Nifty 50 index options
Index options are standardised and traded on an exchange; the others are OTC contracts.
When computing free-float market capitalisation for an index, which holdings are typically excluded?
- Shares held by retail investors
- Shares held by mutual funds
- Shares held by foreign portfolio investors
- Shares held by promoters and promoter groups
Show answer & explanation
Answer: D. Shares held by promoters and promoter groups
Free float counts only shares readily available for trading, so promoter and locked-in holdings are left out.
A key feature that distinguishes futures from forwards is that futures:
- Are customised to each client
- Are marked to market daily through a clearing corporation
- Carry no margin requirement
- Can only be settled by delivery
Show answer & explanation
Answer: B. Are marked to market daily through a clearing corporation
Daily MTM and central clearing are hallmarks of exchange-traded futures.
A portfolio worth ₹90 lakh has a beta of 0.8. Each index futures contract is worth ₹12 lakh. The number of contracts to sell for a full hedge is:
- 7.5
- 9
- 6
- 4.8
Show answer & explanation
Answer: C. 6
Contracts = (90 lakh × 0.8) ÷ 12 lakh = 72 ÷ 12 = 6.
Exchange-traded equity options and USD/INR options in India are of which exercise style?
- American
- Bermudan
- Asian
- European
Show answer & explanation
Answer: D. European
Both can be exercised only on the expiry date.
NISM Series XIII 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 XIII mock test FAQs
How many questions are there in the NISM Series XIII exam?
The NISM Series XIII 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 XIII?
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 XIII?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series XIII 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 XIII 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.