NCFM Certification - Use, importance and career

Snapshot of queries and detailed replies/ clarifications on NCFM Certification programmes

  • validity of certifications
  • Practice question papers and solved previous question papers
  • career options
  • where to start with?....

Q. 1. Can you give insights into the Validity tenure of of NCFM Certifications?

TutionCentral Answer:

  • The certificate remains valid for 5 years from the date of the test for all modules except Derivatives Market (Dealers) Module, Commodities Market Module, Information Security Auditors Module and AMFI-Mutual Fund (Basic) Module.
  • In case of AMFI-Mutual Fund (Basic) Module the certificate remains valid for life-time.
  • In case of Information Security Auditors Module the certificate remains valid for 2 years.
  • In case of Commodities Market Module and Derivatives Market (Dealers) Module the certificate remains valid for 3 years.
  • In case of Derivatives Market (Dealers) Module, the certificate can be extended to 5 years by undergoing a prescribed and approved refresher course. This ensures that the candidate continuously updates his knowledge and skill.

The course contents are revised frequently in tune with changes in the environment ensuring that the candidates passing out are equipped with the latest skills required in the industry.

The NCFM Committee determines the standard of knowledge, skill and expertise necessary for different types of specialised functions in the financial markets at operational and supervisory levels and the questions to be included in the question bank.

Q.2. what are the possible career options after Clearing NCFM Certification?

TutionCentral Answer:

  • After passing NCFM exam one can start your own share trading business as a sub-broker.
  • After passing capital market dealer module one can work as equity bolt operator
  • After passing derivatives market dealer module one can work as derivatives bolt operator
  • All module study material's  the content are  very good which will help in building your domain knowledge.

Q.3. I am a beginner, Where shall I Start with? which is the first module which I shall try?

TutionCentral Answer: Broadly, for an absolute layman, Beginners' Module is recommended to begin with, otherwise Securities Market Basic Module can be treated as the launchpad, which would give fair idea of many other modules too.

Q.4. How to prepare for the test?
On submission of the prescribed form along with the test fees, the candidate is supplied with study material for all modules EXCEPT for Corporate Governance Module, Compliance Officers Modules, Risk Analysis & Insurance Planning Module, Retirement Planning & Employee Benefits Module, Investment Planning Module, Tax Planning & Estate Planning Module and Examination 5/Advanced Financial Planning Module, Financial Modeling Module and FLIP Modules from NSE, fore details refer to Here.

Online Practice tests/Model exams and previous solved question papers are available at:

Q.5. Who can join NCFM?
No formal educational background is necessary for registration to the NCFM programme. Nor is there an age requirement. However, candidates are expected to be numerate and comfortable with written English.

Q.6. How to join NCFM?
One can join NCFM by registering himself for the programme by filling up the prescribed registration form. The candidate may enroll for the chosen module by filling up part-II of the said form. The details regarding the test center, date and time of test are informed to the candidate.

Q.7. Is there any deadline for taking the test?
Yes. Test fees are valid for 180 days from the date of payment. Candidates need to enroll for the test(s) within 180 days from payment of fees.

Q.8. Is it necessary to take test of all modules of the NCFM?
No. A candidate can seek testing and certification in any module of his choice.

Q.9. When and where to take the test?

The test is conducted everyday on week days (except on Exchange specified holidays) at all six NSEIL offices viz., Mumbai, New Delhi, Kolkata, Chennai, Hyderabad and Ahmedabad. Such tests are also offered from any other location in India, if there is adequate demand for the same.

What are the various modules available in NCFM Certification?

TutionCentral Answer: NCFM Modules- NCFM currently tests expertise in the following modules.

  • Financial Markets: A Beginner's Module
  • Securities Market (Basic) Module
  • Currency Derivatives: A Beginner’s Module
  • Mutual Funds: A Beginner's Module
  • Equity Derivatives: A Beginner's Module
  • Interest Rate Derivatives: A Beginner's Module
  • Commercial Banking in India : A Beginner's Module
  • Capital Market (Dealers) Module
  • Derivatives Market (Dealers) Module
  • FIMMDA-NSE Debt Market (Basic) Module
  • Investment Analysis and Portfolio Management
  • Commodities Market Module
  • Options Trading Strategies Module
  • Surveillance in Stock Exchanges Module
  • NSDL-Depository Operations Module
  • Corporate Governance Module
  • Compliance Officers (Brokers) Module
  • Compliance Officers (Corporates) Module
  • Modules of Financial Planning Standards Board India (Certified Financial Planner Certification)
  • Information Security Auditors Module (Part-1) & Information Security Auditors Module (Part-2)
  • NISM-Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)
  • NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents - Corporate Certification Examination
  • NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents - Mutual Fund Certification Examination
  • NISM-Series-IV: Interest Rate Derivatives Certification
  • NISM-Series-V-A: Mutual Fund Distributors Certification Examination
  • NISM-Series-VI: Depository Operations Certification Examination
  • NISM-Series-VII:Securities Operations and Risk Management Certification Examination
  • Certified Personal Financial Advisor (CPFA) Examination
  • Financial Modeling Module
  • Financial Services Marketing Module
  • Issue Management Module
  • Equity Research Module
  • Market Risk Module

Q.11 Can I postpone the Test?
Once a test date and time slot have been allotted, the test can not be rescheduled. You may seek fresh enrollment.

Q.12: For more details refer to Website:


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