NISM Series VIII Most Important MCQs For 2026
Chapter 1: Basics of Derivatives
Master Chapter 1 with the most important MCQs! Definition of Derivatives, Types of Derivatives, Underlying Assets, Exchange-Traded vs OTC, Hedgers/Speculators/Arbitrageurs, History of Derivatives in India (1998-2001), L.C. Gupta Committee & Chicago Board of Trade 1973 – all explained for exam success.
Chapter 2: Understanding Index
Master Chapter 2 with the most important MCQs! What is a Market Index, Free Float Market Cap Method, Nifty 50 vs Sensex 30, Base Year & Base Value, Index Rebalancing Every 6 Months, Impact Cost, Index Eligibility Criteria, Nifty 500, Sectoral Indices & Uses of Index in Derivatives – all explained for exam success.
Chapter 3: Introduction to Forwards and Futures
Master Chapter 3 with the most important MCQs! Forward vs Futures Contract, Cost of Carry Model, Fair Value of Futures, Basis, Convergence, Mark to Market (MTM), Initial & Maintenance Margin, Margin Call, Open Interest, Contango vs Backwardation & Long vs Short Payoff – all explained for exam success.
Chapter 4: Introduction to Options
Master Chapter 4 with the most important MCQs! Call Option vs Put Option, Buyer vs Writer, Premium, Strike Price, ITM/ATM/OTM, Intrinsic Value, Time Value, American vs European Options, Breakeven Point, Max Profit & Max Loss for all 4 positions – all explained with solved examples!
Chapter 5: Strategies using Equity Futures and Equity Options
Master Chapter 5 with the most important MCQs! Long & Short Futures Strategies, Portfolio Hedging using Index Futures, Beta Hedging, Covered Call, Protective Put, Bull Call Spread, Bear Put Spread, Straddle, Strangle, Cash-Futures Arbitrage & Beta = 1 concept – all explained with real examples (Reliance, HDFC)!
Chapter 6: Trading Mechanism
Master Chapter 6 with the most important MCQs! Black-Scholes Model, Binomial Pricing Model, Delta, Gamma, Theta, Vega, Rho, Implied Volatility, Delta Hedging, Put-Call Parity & factors affecting Option Premium – all explained with solved numerical examples for exam success.
Chapter 7: Clearing, Settlement and Risk Management
Master Chapter 7 with the most important MCQs! NSCCL as Clearing Corporation, T+1 Settlement Cycle, SPAN Margin, Initial Margin, Extreme Loss Margin, Daily MTM Settlement, VaR at 99% Confidence, Mark to Market, Open Position Limits, Short Delivery & Auction Process – all explained for exam success.
Chapter 8: Legal and Regulatory Environment
Master Chapter 8 with the most important MCQs! SC(R)A 1956, SEBI Act 1992, Trading Member Net Worth Requirements, PCM vs SCM vs TCM, Eligibility Criteria for Membership, Position Limits, Permitted Securities, Code of Conduct, Record Keeping & Penalties Under SEBI – all explained for exam success.
Chapter 9: Accounting and Taxation
Master Chapter 9 with the most important MCQs! F&O as Non-Speculative Business Income, Tax Audit Turnover Limit, STT on Derivatives, Carry Forward of F&O Losses, 8 Years Carry Forward Rule, Turnover Calculation Method, Section 44AB, Premium Accounting, MTM Gain/Loss Treatment & Options Expiry Accounting – all explained with solved examples!
Chapter 10: Sales Practices and Investor Protection Measures
Master Chapter 10 with the most important MCQs! KYC Requirements, Suitability Obligation, Risk Disclosure Document (RDD), Investor Grievance Redressal, SEBI SCORES Portal 2002, Arbitration Process, 15/21/30 Day Timelines, Prohibition of Mis-Selling, Churning, Investor Protection Fund (IPF) & Do’s and Don’ts for Derivatives Advisors – all explained for exam success.