NISM Series XV Most Important MCQs For 2026
Chapter 1: Introduction to Research Analyst Profession
Master Chapter 1 with the most important MCQs! SEBI Registration, Eligibility Criteria, Types of Research Analysts, Research Report Standards, Conflict of Interest, Disclosure Norms, Buy/Sell/Hold Recommendations & Code of Conduct – all explained for exam success.
Chapter 2: Introduction to Securities Market
Master Chapter 2 with the most important MCQs! Primary vs Secondary Market, IPO Process, Stock Exchange, NSE & BSE, Market Participants, Depository System, Clearing & Settlement (T+1), Debt Market, Money Market & Capital Market – all explained for exam success.
Chapter 3: Terminology in Equity and Debt Markets
Master Chapter 3 with the most important MCQs! Face Value, Book Value, Market Cap, Free Float, EPS, P/E Ratio, Dividend Yield, Coupon Rate, YTM, Bond Price vs Yield Relationship, Credit Rating, Duration & Accrued Interest – all explained for exam success.
Chapter 4: Fundamentals of Research
Master Chapter 4 with the most important MCQs! Top-Down vs Bottom-Up Approach, Fundamental vs Technical Analysis, Macroeconomic Analysis, Industry Life Cycle, Company Analysis, Competitive Advantage (Moat), Qualitative vs Quantitative Research & Intrinsic Value – all explained for exam success.
Chapter 5: Economic Analysis
Master Chapter 5 with the most important MCQs! GDP, GNP, Per Capita Income, Inflation (WPI & CPI), Fiscal Policy, Monetary Policy, Repo Rate, Reverse Repo, CRR, SLR, Fiscal Deficit, Current Account Deficit, FDI vs FPI, Economic Cycle Phases & Secular Trends – all explained for exam success.
Chapter 6: Industry Analysis
Master Chapter 6 with the most important MCQs! Porter’s Five Forces, Industry Life Cycle, Cyclical vs Defensive Industries, Competitive Advantage, Barriers to Entry, Market Structure, Industry Classification (NIC/GICS) & Regulatory Environment – all explained for exam success.
Chapter 7: Company Analysis – Business and Governance
Master Chapter 7 with the most important MCQs! Business Model Analysis, Promoter Shareholding, Promoter Pledge %, Board Composition, Independent Directors, Related Party Transactions, Insider Trading, SEBI LODR Regulations, Majority & Minority Shareholder Rights – all explained for exam success.
Chapter 8: Company Analysis – Financial Analysis
Master Chapter 8 with the most important MCQs! Income Statement, Balance Sheet, Cash Flow Statement, Profitability Ratios, Liquidity Ratios, Solvency Ratios, Working Capital, DuPont Analysis, ROE, ROCE, EPS, Debt-to-Equity & Interest Coverage – all explained for exam success.
Chapter 9: Corporate Actions
Master Chapter 9 with the most important MCQs! Dividend Declaration, Bonus Issue, Stock Split, Rights Issue, Buyback, Merger & Acquisition, Demerger/Spin-off, Delisting Rules, TDS on Dividend & Share Swap – all explained with real exam questions!
Chapter 10: Valuation Principles
Master Chapter 10 with the most important MCQs! DCF Valuation, WACC, Terminal Value, FCFF vs FCFE, Gordon Growth Model (DDM), CAPM, Relative Valuation (P/E, P/B, EV/EBITDA), Margin of Safety & Intrinsic Value – all explained step-by-step for exam success.
Chapter 11: Fundamentals of Risk and Return
Master Chapter 11 with the most important MCQs! Systematic vs Unsystematic Risk, Standard Deviation, Variance, Beta, Sharpe Ratio, Treynor Ratio, Alpha, CAPM, Portfolio Diversification, Correlation, Covariance & Risk-Free Rate – all explained step-by-step for exam success.
Chapter 12: Qualities of a Good Research Report
Master Chapter 12 with the most important MCQs! Structure of Research Report, Mandatory Disclosures, Target Price, Recommendation Types, Validity Period, Price Band (-10% to +10%), Rating Scale, 1-Year Validity, SEBI Compliance, Independence & Objectivity – all explained for exam success.
Chapter 13: Legal and Regulatory Environment
Master Chapter 13 with the most important MCQs! SEBI Act 1992, SEBI RA Regulations 2014, SEBI (PIT) Regulations 2015, UPSI Definition, 6-Month Cooling Period, Net Worth ₹25 Lakh, Validity 3 Years, 30-Day Grievance Resolution, 21 Working Days, 180 Days UPSI Window & 7-Day Trading Restriction – all explained for exam success.