Practise NISM questions. Understand each answer.

Lessons and tools for each series

Each series links to lessons and calculators covering the same ideas.

• NISM Series VIII

  • Market orders, limit orders and what each guarantees
  • Depth, spread, and why a screen price is not an executable one
  • Intrinsic value, time value, and what a premium is made of
  • Direction right, premium down: why the two come apart
  • Premium breakeven and expiry breakeven are different questions
  • Open interest counts positions, volume counts trades
  • Open interest falling into expiry is a contract question
  • Units per lot, and the premium arithmetic that follows

• NISM Series V-A

  • What a contribution buys, and what averaging does not promise
  • What a contribution projection assumes
  • Three return figures that answer different questions
  • Absolute return, CAGR and XIRR

• NISM Series XV

  • Compared with what? The baseline before the claim
  • A rule tested on its own data is untested
  • Published base rates and how to read one
  • More trades multiply the sign, they do not change it

• NISM Series VII

  • Market orders, limit orders and what each guarantees
  • Depth, spread, and why a screen price is not an executable one
  • Why T+1 is not simply tomorrow
  • Reading a contract note, and the debits that are not on it
  • Gross to net: the cost stack on a round trip

• NISM Series I

  • Market orders, limit orders and what each guarantees
  • Quantity from capital and a chosen risk budget
  • Why a fall needs a larger rise to undo it

• NISM Series X-A

  • Three return figures that answer different questions
  • What a contribution projection assumes
  • Absolute return, CAGR and XIRR
  • Why a fall needs a larger rise to undo it
  • Quantity from capital and a chosen risk budget

• NISM Series IV

  • Intrinsic value, time value, and what a premium is made of
  • Direction right, premium down: why the two come apart
  • Premium breakeven and expiry breakeven are different questions
  • Units per lot, and the premium arithmetic that follows
  • Market orders, limit orders and what each guarantees

• NISM Series VI

  • Why T+1 is not simply tomorrow
  • Reading a contract note, and the debits that are not on it
  • Ownership, the exchange, the broker and settlement
  • Market orders, limit orders and what each guarantees

• NISM Series XVI

  • Intrinsic value, time value, and what a premium is made of
  • Direction right, premium down: why the two come apart
  • Premium breakeven and expiry breakeven are different questions
  • Units per lot, and the premium arithmetic that follows
  • Market orders, limit orders and what each guarantees

• NISM Series XXI-A

  • Absolute return, CAGR and XIRR
  • Why a fall needs a larger rise to undo it
  • Three return figures that answer different questions
  • Quantity from capital and a chosen risk budget

• NISM Series XII

  • Ownership, the exchange, the broker and settlement
  • Market orders, limit orders and what each guarantees
  • Why T+1 is not simply tomorrow
  • Absolute return, CAGR and XIRR

• NISM Series XIII

  • Intrinsic value, time value, and what a premium is made of
  • Direction right, premium down: why the two come apart
  • Premium breakeven and expiry breakeven are different questions
  • Units per lot, and the premium arithmetic that follows
  • Market orders, limit orders and what each guarantees

• NISM Series III-A

  • Market orders, limit orders and what each guarantees
  • Reading a contract note, and the debits that are not on it
  • Why T+1 is not simply tomorrow
  • Ownership, the exchange, the broker and settlement

• NISM Series IX

  • Ownership, the exchange, the broker and settlement
  • Absolute return, CAGR and XIRR