NISM Series I - FAQs

What are Currency Derivatives?

Ans. Currency derivatives contract traded on a recognised stock exchange / OTC markets to buy or sell one currency
against another on a specified future date, at a price specified on the date of contract. These include different instruments including futures, forwards, options, swaps etc.

Who is required to undergo the Currency Derivatives examination?
Ans. The Currency Derivatives examination undertaken by NISM is a mandatory certification for anyone who is involved in trading, advising, or dealing with currency derivatives in India.
This includes approved users and sales personnel of trading members who are registered in the currency derivatives segment of a recognised stock exchange.

What are the components of the exam syllabus?
Ans. This exam tests the knowledge and skills of the candidates on various aspects of currency derivatives, such as market structure, regulatory framework, trading strategies, risk management, and clearing and settlement.

The examination will include:

– Knowledge about the Indian Foreign Exchange Markets.
– Develop an understanding of currency derivatives and their trading strategies.
– Learn how currency derivatives markets operate, including how they clear and settle transactions, manage risks, and ensure smooth functioning.
– Understand the Indian regulatory environment.

Does NISM provide any trainings or preparation for the examination?
Ans. NISM does not provide any training, for preparation of examinations, directly or indirectly to participants who desire to appear for NISM examinations. They provide a workbook which is an important resource to prepare for the examination

How can I get access to additional study material for NISM – Series I: Currency Derivatives Certification Examination?
Ans. offers a very comprehensive and detailed Question Bank + Chapter-wise study notes that can support candidates in preparation for NISM – Series I: Currency Derivatives Certification Examination.

How does the Question bank of help in preparation for NISM – Series I: Currency Derivatives Certification?
Ans. The student can use the questions bank for revisions and practice of the course material required for the examination.
Answers are provided with detailed explanations to understand concepts and numerical problems and revise them.
There are overall 500 questions with 2 mock-tests which replicate exam-like settings, and can help check the level of preparation.

What are the topics covered under NISM – Series I: Currency Derivatives Certification Examination??
Ans. The topics are:
Introduction to Foreign Exchange Markets
Foreign Exchange Derivatives
Exchange Traded Currency Futures
Exchange Traded Currency Commodity Options
Strategies using Exchange traded Currency Derivatives
Trading Mechanism
Clearing, Settlement and Risk Management
Legal and Regulatory Environment
Accounting and Taxation
Code of Conduct and Investor Protection Measures

What is the validity of Question Bank offered by
Ans. You can purchase the Question bank from with two validity options:

30 days validity
60 days validity

Hence giving you option to easily match your pace of preparation either with a short-term validity or with long term validity.

What is the Assessment Structure of NISM – Series I: Currency Derivatives Certification Examination?
Ans. The NISM – Series I: Currency Derivatives Certification Examination will be of 100 marks
consisting of 100 questions of 1 mark each.
The examination should be completed in 2 hours. The passing score for the examination is 60 marks
(i.e., 60%). There shall be negative marking of 25% of the marks assigned to the question for each
wrong answer.

What is the validity of the certification after passing NISM – Series I: Currency Derivatives Certification Examination?
Ans. The Certification Validity is 3 Years from the date of successful completion of the NISM exam (for further details refer NISM guidelines)

What is the weightage of the NISM-Series-I: Currency Derivatives Certification Examination?
Ans. Please visit the following link to check the recommended weightage of the exam Link –

If I purchase the Question Bank from, how will I get access to the study material?
Ans. Cubelearn offers a fully digital experience where you can access the study material online on by simply logging in to your account
Hence you can access your course material anytime as per your convenience and comfort

Does Cubelearn offer pdf or word document of the material?
Ans. No, we don’t offer pdf or word document of the material. We offer a fully online learning model.

Can I track my progress and check my answers while using the Question Bank from
Ans. Yes. This is the advantage of an online course. Your answers will be auto-checked and you can track your progress.

How many questions are there are in the Question Bank for the NISM – Series I: Currency Derivatives Certification Examination from
Ans. After purchasing the questions bank from you will get access to:

There are 500 questions, which includes
Chapter-wise practice questions and
2 Mock Tests with 200 questions under real exam conditions

Can I access a sample of the Question Bank to understand the format better?
Ans. Yes, please create a login if not registered already and access the sample at the following link:

How do I clear my NISM Currency Derivatives Exam?
Ans. Following are some useful tips which can help you:-

Start preparation of the exam well in advance
Go through the Required Study Material
For scientific test and revision you enrol for the Question Bank from
Register online as per the NISM guidelines
Continue practice and revision till the exam date & maintain your focus for good performance in the exam

Where do I register on NISM site for the NISM-Series-I: Currency Derivatives Certification Examination
Ans. Use the following link:

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