NISM Series XXIV Mock Test: AML and CFT Provisions in Securities Markets
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 XXIV exam
NISM Series XXIV covers anti-money laundering and countering the financing of terrorism in the securities market — PMLA, record-keeping rules, scheduled offences, SEBI AML/CFT guidelines, KYC norms and case studies.
Who should take it: Compliance, KYC and principal-officer teams at intermediaries who handle AML/CFT obligations and suspicious transaction reporting.
NISM Series XXIV 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 XXIV question bank
Our 50-question bank for NISM Series XXIV covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Introduction to AML, CFT and PF6 practice questions
- Prevention of Money Laundering Act, 20028 practice questions
- PML (Maintenance of Records) Rules, 20057 practice questions
- Scheduled Offences4 practice questions
- AML, CFT and PF Guidelines6 practice questions
- SEBI Guidelines on AML/CFT/PF Standards9 practice questions
- SEBI Guidelines on KYC Norms7 practice questions
- Discussion on PMLA Cases3 practice questions
Free NISM Series XXIV 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 sequence correctly describes the three classic stages of money laundering?
- Placement, layering, integration
- Layering, placement, integration
- Integration, placement, layering
- Placement, integration, layering
Show answer & explanation
Answer: A. Placement, layering, integration
Illicit cash is first placed in the financial system, then layered through complex transactions, and finally integrated into the legitimate economy.
Under the PMLA, 2002, the offence of money laundering is defined in which section?
- Section 12
- Section 45
- Section 24
- Section 3
Show answer & explanation
Answer: D. Section 3
Section 3 defines the offence of money laundering as being involved in any process or activity connected with proceeds of crime.
Under the PML Rules, cash transactions exceeding what value (or integrally connected cash transactions aggregating above it in a month) must be reported to FIU-IND?
- ₹50,000
- ₹10 lakh
- ₹2 lakh
- ₹1 crore
Show answer & explanation
Answer: B. ₹10 lakh
Cash transactions above ₹10 lakh, or a series of integrally connected cash transactions aggregating above ₹10 lakh within a month, are reported in the CTR.
Under the PMLA framework, a 'scheduled offence' is significant because:
- It is the only offence that can be tried by a magistrate
- It is exempt from investigation by the Enforcement Directorate
- It is an offence that is punishable only by fine
- Money laundering can arise only in relation to proceeds of crime from a scheduled offence
Show answer & explanation
Answer: D. Money laundering can arise only in relation to proceeds of crime from a scheduled offence
Proceeds of crime under PMLA must be linked to a scheduled offence, so the Schedule defines the predicate crimes for money laundering.
FATF's 'risk-based approach' requires countries and reporting entities to:
- Apply the same level of due diligence to every customer regardless of risk
- Avoid serving all customers from high-risk sectors
- Identify and assess ML/TF risks and apply measures proportionate to those risks
- Rely solely on government lists to identify risk
Show answer & explanation
Answer: C. Identify and assess ML/TF risks and apply measures proportionate to those risks
Under a risk-based approach, enhanced measures apply to higher risks and simplified measures may apply to lower risks.
NISM Series XXIV 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 XXIV mock test FAQs
How many questions are there in the NISM Series XXIV exam?
The NISM Series XXIV 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 XXIV?
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 XXIV?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series XXIV 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 XXIV 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.