Series XIII
Common Derivatives
50 questionsPass mark 60%Negative marking 25% / wrong answer
NISM Series XIII: Common Derivatives
The common derivatives paper: futures and options on shares, indices, currencies and interest rates, the markets under them, strategies that use them, how they trade, clear and settle, the rules that govern them, accounting and tax, and fair dealing with clients.
Questions1501 mark each
Duration180 min3 hours
Pass mark60%90 of 150 marks
Negative marking25%0.25 marks off per wrong answer
NISM Series XIII Common Derivatives
Exam rules read on NISM's site on 17 October 2026. Check the current rules on NISM's site (opens in a new tab)
The NISM-Series-XIII: Common Derivatives Certification Examination is 150 questions worth 150 marks in 180 minutes, and 60% is the pass mark. A wrong answer costs 0.25 marks and a blank costs nothing, so the two are not the same choice. The certificate is valid 3 years from the date of the examination. Every figure here was read from NISM's own published pages on 17 October 2026.
What the Series XIII certification is for
The common derivatives paper: futures and options on shares, indices, currencies and interest rates, the markets under them, strategies that use them, how they trade, clear and settle, the rules that govern them, accounting and tax, and fair dealing with clients.
Who takes it
Approved users and sales staff of trading members in the equity, currency and interest rate derivatives segments.
Why it is on this site
One paper for three derivatives segments. Margins, daily settlement and option payoffs work the same way as in the site's index futures and options lessons.
Exam format at a glance
Questions1501 mark each
Total marks150150 × 1
Duration180 min3 hours
Pass mark60%90 of 150 marks
Negative marking25%0.25 marks off per wrong answer
Certificate validity3 yearsfrom the date of the examination
150 multiple-choice questions of 1 mark each in 180 minutes. 60% to pass. A wrong answer loses a quarter of a mark.
The examination fee is deliberately not printed here. NISM publishes it per certification and revises it from time to time, and a fee is the one figure on a page like this that somebody acts on with money — read the current one on nism.ac.in.
How the marking works — and what the quiz here does with it
Each question carries 1 mark, so the paper is scored out of 150 and 90 marks are needed to pass. A wrong answer deducts 25% of the marks assigned to the question — 0.25 marks here. A question left unanswered scores nothing and deducts nothing, so a wrong answer and a blank are not equivalent, and deciding between them is part of what the paper tests.
The practice quiz here uses these same figures. Timed practice applies this pass mark and this deduction. Its clock runs at this paper's pace (180 minutes for 150 questions), scaled to the size of your set.
Syllabus units, and what each is worth
10 practice topics, in the order our questions are written. Each row links to the topic's full questions and answers. Each answer explains why the other options are wrong. No unit weightage was found in the official exam material, so this table has no marks column.
Test yourself on this syllabus
It is marked with the pass mark and negative marking shown above.
150 Series XIII practice questions
Answer one at a time and see the reason straight away. Or sit a timed set marked like this paper: 0.25 marks off for a wrong answer, 60% to pass.
Start practising →NISM Series XIII mock tests
Three fixed papers of 50 questions each, timed at this exam's pace, with its pass mark and negative marking. When you submit, you see your score and why each answer is right.
Take a mock test →Every series' practice set
The other certifications we hold questions for, each scored on its own published pass mark and marking rule — which are not the same as this paper's.
Browse every series →Which NISM exam applies to you
Which series fits your work, with the lessons and tools for each one.
Open the certification hub →The other certifications on this site
- Series VIII — Equity Derivatives
- Series V-A — Mutual Fund Distributors
- Series XV — Research Analyst
- Series VII — Securities Operations and Risk Management
- Series I — Currency Derivatives
- Series X-A — Investment Adviser (Level 1)
- Series IV — Interest Rate Derivatives
- Series VI — Depository Operations
- Series XVI — Commodity Derivatives
- Series XXI-A — Portfolio Management Services (PMS) Distributors
- Series XII — Securities Markets Foundation
- Series III-A — Securities Intermediaries Compliance (Non-Fund)
- Series IX — Merchant Banking
Sources & review date. The question count, total marks, duration, pass mark, negative marking and certificate validity above come from NISM's own pages for the NISM-Series-XIII: Common Derivatives Certification Examination, last read on 17 October 2026. Marks per question, marks needed to pass and marks lost per wrong answer are worked out from those figures. We found no published marks for each unit of this exam, so none are shown here. Other weightage tables are estimates. The unit headings follow the order of these practice questions. Compare them with NISM's published unit list.
NISM Series XIII: common questions
How many questions are in the NISM Series XIII exam?
The NISM-Series-XIII: Common Derivatives Certification Examination has 150 questions worth 150 marks in total, to be completed in 180 minutes (3 hours).
What is the passing score for NISM Series XIII?
60%, which on a 150-mark paper means 90 marks, calculated after negative marking has been applied to wrong answers. Checked against NISM's own published page for this examination on 17 October 2026.
Is there negative marking in NISM Series XIII?
Yes — 25% of the marks assigned to a question. Each question here carries 1 mark, so a wrong answer costs 0.25 marks. A question left unanswered neither earns nor deducts anything, so a wrong answer and a blank are not the same thing.
How long is the NISM Series XIII certificate valid?
3 years from the date of the examination. NISM also runs a Continuing Professional Education programme for its certifications. Confirm the current revalidation route on nism.ac.in before your certificate expires.
Are the practice questions on this page from the NISM Series XIII exam?
No. LearnNifty wrote all 150 of them from NISM's public syllabus for this certification. NISM does not publish its question bank. The questions help you practise the syllabus. They cannot predict the paper.
What does the NISM Series XIII syllabus cover?
Our practice questions for this certification are sorted into 10 topics: Basics of Derivatives (Equity, Currency and Interest Rate), Introduction to the Underlying Markets, Introduction to Forwards and Futures, Strategies Using Futures, Introduction to Options – Options on Equities and Currencies, Option Trading Strategies – Strategies using Equity Options and Currency options, Introduction to Trading, Clearing, Settlement & Risk Management, Legal and Regulatory Environment, Accounting and Taxation of Derivatives, Sales Practices, Code of Conduct and Investor Protection Measures. That is the structure the practice set follows. NISM publishes its own curriculum and test objectives for the examination on nism.ac.in, and the workbook current for your sitting is the only examinable material.
Where does LearnNifty get these NISM Series XIII exam figures from?
The question count, time, pass mark, negative marking and certificate validity come from NISM's own exam pages, last read on 17 October 2026. The quiz here marks with the same figures. NISM changes them from time to time, so confirm them on nism.ac.in before you register.
Sit a Series XIII paper marked on the figures above
Series XIII questions written against the published syllabus and scored under this paper’s own rules — 60% to pass, 0.25 marks off for a wrong answer. Practice mode explains every option as you go. Timed practice hides answers until you submit.
Open the Series XIII practice questionsPaper Trading Try it on the practice trading desk