NISM Series XXV-A Mock Test: Persons Associated with Research Services (Sales and Other Non-Core Services)
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 XXV-A exam
NISM Series XXV-A is for people in sales and non-core roles at research analysts — the research profession, research fundamentals, risk and return, research reporting, ethics and regulation, and client interaction skills.
Who should take it: Sales, client-servicing and other non-core staff associated with SEBI-registered research analysts.
NISM Series XXV-A 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 XXV-A question bank
Our 50-question bank for NISM Series XXV-A covers every chapter below. Mock tests mix questions across all of them in the same proportion as the real paper.
- Research Profession & Securities Markets9 practice questions
- Research Fundamentals & Market Analysis9 practice questions
- Risk and Return Fundamentals7 practice questions
- Research Reporting, Ethics & Regulation11 practice questions
- Client Interaction & Relationship Skills9 practice questions
- Professional Efficiency & Tools5 practice questions
Free NISM Series XXV-A 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.
Research analysts in India are registered and regulated under:
- SEBI (Research Analysts) Regulations, 2014
- SEBI (Investment Advisers) Regulations, 2013
- SEBI (Stock Brokers) Regulations, 1992
- RBI Master Directions on NBFCs
Show answer & explanation
Answer: A. SEBI (Research Analysts) Regulations, 2014
Research analysts are governed by the SEBI (Research Analysts) Regulations, 2014, as amended.
Which indicator measures the total value of goods and services produced in an economy in a period?
- Consumer Price Index (CPI)
- Repo rate
- Current account deficit
- Gross Domestic Product (GDP)
Show answer & explanation
Answer: D. Gross Domestic Product (GDP)
GDP measures economic output; CPI measures inflation and the repo rate is a policy rate.
Which type of risk can be reduced through diversification?
- Systematic (market) risk
- Interest rate risk of the whole economy
- Inflation risk in the economy
- Unsystematic (company-specific) risk
Show answer & explanation
Answer: D. Unsystematic (company-specific) risk
Company-specific risk diversifies away across many holdings; market-wide risk cannot be diversified.
Under the SEBI RA Regulations, a research analyst must disclose in a research report if it or its associates hold actual or beneficial ownership in the subject company of:
- 10% or more at any time
- 25% or more only
- 1% or more at the end of the month immediately preceding the report
- Any holding acquired after the report
Show answer & explanation
Answer: C. 1% or more at the end of the month immediately preceding the report
Ownership of 1% or more of the subject company as at the end of the preceding month must be disclosed.
A client is upset after a recommended stock fell 20%. The best initial response by a PARS staff member is to:
- Listen empathetically, explain the rationale and risks in the original report, and escalate if needed
- Promise that the stock will recover within a month
- Blame the research analyst
- Avoid the client's calls until the market recovers
Show answer & explanation
Answer: A. Listen empathetically, explain the rationale and risks in the original report, and escalate if needed
Effective crisis handling involves empathy, factual explanation and escalation, without making promises.
NISM Series XXV-A 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 XXV-A mock test FAQs
How many questions are there in the NISM Series XXV-A exam?
The NISM Series XXV-A 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 XXV-A?
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 XXV-A?
You need 60% to pass. Our mock tests show pass or fail against the same mark.
How many NISM Series XXV-A 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 XXV-A 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.