NISM Series XV Mock Test: Research Analyst
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 XV exam
NISM Series XV covers equity research — the securities market, economic, industry and company analysis, financial statements, valuation methods, risk and return, writing research reports and the SEBI research analyst regulations.
Who should take it: Research analysts and those seeking SEBI registration as a research analyst, plus anyone preparing equity research reports for an intermediary.
NISM Series XV exam pattern
| Questions | 100 multiple-choice questions |
|---|---|
| Total marks | 100 |
| Duration | 180 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 XV question bank
Our 50-question bank for NISM Series XV covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Introduction to Research Analyst Profession3 practice questions
- Introduction to Securities Market3 practice questions
- Terminology in Equity and Debt Markets4 practice questions
- Fundamentals of Research4 practice questions
- Economic Analysis5 practice questions
- Industry Analysis4 practice questions
- Company Analysis – Business & Governance4 practice questions
- Company Analysis – Financial Analysis6 practice questions
- Corporate Valuation6 practice questions
- Fundamentals of Risk and Return4 practice questions
- Qualities of a Good Research Report3 practice questions
- Legal and Regulatory Environment4 practice questions
Free NISM Series XV 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.
How does a buy-side analyst differ from a sell-side analyst?
- A buy-side analyst only recommends buying, never selling
- A buy-side analyst researches for the internal use of an investing institution such as an AMC, while a sell-side analyst's research is distributed to clients of a broker
- A sell-side analyst works only for insurance companies
- There is no difference; the terms are interchangeable
Show answer & explanation
Answer: B. A buy-side analyst researches for the internal use of an investing institution such as an AMC, while a sell-side analyst's research is distributed to clients of a broker
Buy-side research supports the analyst's own institution's investment decisions; sell-side research is published for brokerage clients.
What role does a clearing corporation play in exchange-traded markets?
- It acts as the central counterparty, guaranteeing settlement of trades
- It lists companies and approves IPO prices
- It issues credit ratings for debt securities
- It decides the dividends paid by listed companies
Show answer & explanation
Answer: A. It acts as the central counterparty, guaranteeing settlement of trades
By becoming buyer to every seller and seller to every buyer, the clearing corporation removes counterparty risk from exchange trades.
A company splits each share of face value ₹10 into shares of face value ₹2. An investor holding 100 shares will now hold:
- 100 shares, with the face value unchanged
- 200 shares, with the price halving
- 500 shares, with the market price adjusting to about one-fifth
- 500 shares, with the price unchanged
Show answer & explanation
Answer: C. 500 shares, with the market price adjusting to about one-fifth
Splitting ₹10 into ₹2 creates five shares for each one held; the total value is unchanged, so the price falls to about one-fifth.
Which statement correctly contrasts fundamental and technical analysis?
- Technical analysis relies on balance sheets, while fundamental analysis uses only charts
- Both rely only on management interviews
- Fundamental analysis estimates intrinsic value from economic, industry and company factors, while technical analysis studies price and volume patterns
- Fundamental analysis is used only for bonds
Show answer & explanation
Answer: C. Fundamental analysis estimates intrinsic value from economic, industry and company factors, while technical analysis studies price and volume patterns
Fundamental analysts ask what a security is worth; technical analysts study market data to judge likely price movement.
In an economy, private consumption is ₹150 lakh crore, investment ₹50 lakh crore, government spending ₹40 lakh crore, exports ₹30 lakh crore and imports ₹35 lakh crore. What is GDP by the expenditure method?
- ₹305 lakh crore
- ₹235 lakh crore
- ₹270 lakh crore
- ₹240 lakh crore
Show answer & explanation
Answer: B. ₹235 lakh crore
GDP = C + I + G + (X − M) = 150 + 50 + 40 + (30 − 35) = ₹235 lakh crore.
NISM Series XV 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 XV mock test FAQs
How many questions are there in the NISM Series XV exam?
The NISM Series XV paper has 100 multiple-choice questions for 100 marks, to be completed in 180 minutes. This is the indicative pattern — always confirm it in the latest official notification.
Is there negative marking in NISM Series XV?
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 XV?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series XV 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 XV 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.