NISM mock tests, built like the real exam
Sit a full paper against the clock, in NISM’s published chapter weightages, marked the way the real exam is marked — then see exactly why each answer is right. Free, with no sign-up.
A free learning initiative of the Trustner Group — our way of giving back to the financial-services community and helping the next wave of distributors and investors into the field.
Available now
Exam facts on each page are taken from NISM’s own published details, with the source and the date we last checked it.
Mutual Fund Distributors
The entry certificate for every mutual fund distributor in India — needed for your ARN.
Questions
100
Time
2 hours
To pass
50 / 100
Negative
None
Mutual Fund – Specialized Investment Fund Distributors
Launched 22 July 2026 — one certificate to distribute both mutual funds and Specialized Investment Funds (SIFs).
Questions
150
Time
3 hours
To pass
90 / 150
Negative
10% / wrong
Research Analyst
Mandatory for SEBI-registered research analysts. Revamped syllabus — now with technical analysis, commodities and case-based sets.
Questions
100
Time
2 hours
To pass
60 / 100
Negative
25% / wrong
In preparation
We publish a mock only when the whole paper is complete — never a partial one.
- NISM-Series-XIII · Common Derivatives
- NISM-Series-VIII · Equity Derivatives
- NISM-Series-X-A · Investment Adviser (Level 1)
- NISM-Series-X-B · Investment Adviser (Level 2)
- NISM-Series-XXI-A · Portfolio Management Services (PMS) Distributors
- NISM-Series-XII · Securities Markets Foundation
- IC-38 · Insurance Agents (Life, General & Health)
What practising here is like
Designed around the exam-day screen: a question palette, mark-for-review, and a timer that does not wait.
The real clock and the real pattern
Each mock uses the exam’s actual time limit and question count, with chapters weighted the way NISM publishes them.
Negative marking, applied exactly
Where NISM deducts marks for a wrong answer, so does the mock — so you learn when a guess is worth it and when it is not.
Every answer explained
The review shows why the right option is right, not just which one it was.
A mistake notebook that fills itself
Questions you get wrong are collected automatically, so revision starts with what you actually missed.
Drills between full papers
Rapid-fire rounds, single-chapter practice and a weak-area drill built from your own results.
Formula and definitions sheet
The calculations and terms that come up again and again, in one place for the last look before the exam.
Original questions, independent of NISM
Every question here is written by Trustner Academy for practice. None is taken from NISM’s confidential question bank or from any other publisher. This is an independent study aid — it is not affiliated with, or endorsed by, NISM or SEBI, and the NISM workbook remains your primary study material. Always confirm the current syllabus, fee and exam rules on nism.ac.in before you register.
Your attempts and progress are stored only in your own browser — nothing is uploaded, and no account is needed.