NISM Series X-B: Investment Adviser (Level 2) – Complete Guide for 2025

Introduction

The NISM Series X-B: Investment Adviser (Level 2) certification exam is conducted by the National Institute of Securities Markets (NISM), an educational initiative established by the Securities and Exchange Board of India (SEBI). This exam is designed for professionals who want to advance their career as Registered Investment Advisers (RIAs) or work in financial advisory and wealth management roles.

For finance professionals, students, and market beginners, this certification is a crucial step toward gaining regulatory recognition and professional credibility in the Indian financial markets. It equips candidates with advanced skills in portfolio management, financial planning, and risk assessment.

To make your preparation easier, CrackCertify.in offers online mock tests, topic-wise study notes, and expert-guided courses—helping aspirants build confidence and master every topic with real-exam simulation.

About the NISM Series X-B: Investment Adviser (Level 2) Certification

The NISM Series X-B certification is the second level in the Investment Adviser series, following NISM Series X-A (Level 1). It focuses on practical applications of investment advice, including client assessment, asset allocation, risk profiling, and portfolio performance evaluation.

Purpose of the Exam

The exam aims to ensure that investment advisers possess the competence to offer personalized financial advice in compliance with SEBI regulations.

Who Should Take It

This certification is ideal for:

• Investment Advisers and Wealth Managers
• Financial Planners and Portfolio Managers
• Finance students aspiring to enter advisory roles
• Research Analysts and Relationship Managers

Key Benefits

• Regulatory Requirement: Mandatory for SEBI-registered investment advisers (as per SEBI IA Regulations).
• Professional Growth: Enhances credibility and opens doors to higher roles in finance.
• Client Trust: Certification assures clients that you meet SEBI’s professional standards.

Exam Highlights (Quick Facts)

Exam Name	NISM Series X-B: Investment Adviser (Level 2)
Conducted by	National Institute of Securities Markets (NISM)
Mode of Exam	Online at NISM-approved test centres
Number of Questions	68
Maximum Marks	100
Passing Marks	60% (i.e., 60 marks)
Negative Marking	25% for each wrong answer
Exam Duration	3 hours
Exam Fees	₹1,500 + GST (subject to change)
Validity of Certificate	3 years from the date of passing

Eligibility Criteria

There are no strict eligibility conditions, but:

• Educational Qualification: A graduate degree in finance, commerce, or economics is preferred.
• Who Can Apply:
• Students pursuing finance or commerce courses
• Professionals working in advisory, broking, or banking sectors
• Independent financial consultants

No prior experience is required, but knowledge from NISM Series X-A is strongly recommended.

Syllabus & Topics Covered

The NISM X-B syllabus covers advanced-level concepts of financial planning and advisory functions. Below are the main topics:

1. Understanding the Client & Risk Profiling
2. Portfolio Construction and Asset Allocation
3. Performance Measurement & Evaluation Techniques
4. Portfolio Rebalancing & Review Process
5. Behavioral Finance & Investor Psychology
6. Tax and Regulatory Aspects of Advisory Services
7. Comprehensive Financial Planning
8. Ethics and Professional Conduct

Important Focus Areas:

• Portfolio performance calculation
• Client data analysis and suitability assessment
• Application of financial planning tools

CrackCertify Advantage:
CrackCertify’s mock tests and study notes are structured according to the official NISM syllabus, helping candidates practice complex case-based questions and master every module efficiently.

Exam Pattern

• Format: Multiple Choice Questions (MCQs)
• Total Questions: 68
• Total Marks: 100
• Difficulty Level: Moderate to high (application-based questions)
• Mode: Online, at authorized test centers

Time Management Tips:

• Attempt theoretical questions first to save time for case studies.
• Avoid guesswork due to negative marking.
• Use CrackCertify’s full-length mocks to build speed and accuracy.

Online Exam Procedure:
Candidates need to appear at an NISM test center with a valid admit card and ID proof. The test is computer-based, and results are displayed immediately after completion.

Registration Process

Follow these simple steps to register for the NISM X-B exam:

1. Visit https://certifications.nism.ac.in
2. Create a new account or log in to your existing NISM profile.
3. Select “NISM Series X-B: Investment Adviser (Level 2)” from the available exams.
4. Choose your preferred test center, date, and time.
5. Pay the exam fee online.
6. Download your admit card after confirmation.

CrackCertify Support:
Before appearing for the real test, CrackCertify’s mock exams simulate actual NISM exam conditions, helping you overcome exam-day anxiety.

Course Details – CrackCertify Offerings

CrackCertify.in offers a complete preparation package for NISM Series X-B, including:

• 🎓 Online Video Lectures – Concept-based explanations by finance experts
• 📘 Comprehensive Study Materials (PDF) – Topic-wise notes and summaries
• 🧠 Full-Length Mock Tests – Real exam interface with timer & negative marking
• 📊 Instant Performance Analysis – Identify weak areas and improve accuracy
• 💻 Affordable Plans with Lifetime Access – Learn at your own pace, anytime

Fees Structure

Type	Amount (INR)	Remarks
Official NISM Exam Fee	₹1,500 + GST	Payable to NISM during registration
CrackCertify Course Fee	₹999 (Limited Offer)	Includes study material + mock tests
Combo Pack (Level 1 + Level 2)	₹1,799	Best value for full IA preparation

Career & Job Prospects

After completing the NISM X-B certification, professionals can explore multiple high-paying roles:

Top Career Roles

• Investment Adviser / Financial Consultant
• Wealth Manager / Relationship Manager
• Research Analyst
• Equity Advisor or Portfolio Planner

Industries Hiring Certified Advisers

• Broking Firms and Financial Institutions
• Asset Management Companies (AMCs)
• Banks and NBFCs
• Investment Advisory Firms

Career Benefits

• Eligibility to register as SEBI-Registered Investment Adviser (RIA)
• Higher earning potential (₹5–15 LPA depending on experience)
• Professional credibility and client trust

Preparation Tips

To excel in the NISM X-B exam, follow these proven strategies:

• Understand Concepts Deeply: Don’t just memorize — focus on application.
• Attempt Multiple Mock Tests: Practice under real exam conditions on CrackCertify.in.
• Allocate Study Time Wisely: Dedicate at least 2–3 hours daily for 3 weeks.
• Revise Regularly: Revisit key formulas, ethical codes, and case scenarios.
• Analyze Mistakes: Use CrackCertify’s detailed performance reports for improvement.

FAQs

1. Is NISM Series X-A mandatory before X-B?
Yes, candidates must clear NISM X-A (Level 1) before appearing for NISM X-B (Level 2).

2. How long is the certificate valid?
The certification remains valid for 3 years from the exam date.

3. Can I retake the exam if I fail?
Yes, there’s no restriction. You can re-register by paying the exam fee again.

4. What is the ideal preparation time?
Typically, 3–4 weeks of focused study with mock tests is sufficient.

5. Are there negative marks in the exam?
Yes, 25% negative marking applies for each wrong answer.

6. Can students apply?
Yes, finance and commerce students can apply to build early expertise.

Conclusion

The NISM Series X-B: Investment Adviser (Level 2) exam is an excellent opportunity to advance your financial career and establish yourself as a trusted professional in investment advisory.

Don’t leave your preparation to chance — let CrackCertify.in guide you with mock tests, detailed notes, and expert-led learning.

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