NISM Series XIII (Common Derivatives) is the consolidated exam, but the study material is drawn from three separate NISM workbooks. Distributors are tested on all three. The good news: chapters 6–10 overlap heavily, so a smart reading plan saves you roughly a third of the time. See the 6-week study plan for the optimised path.
Forwards, futures, options, and strategies on Indian equity and equity indices.
Most directly relevant to SIF distribution. Every equity LS and hybrid LS SIF uses Nifty / Bank Nifty futures and options as its hedging toolkit. Strategies chapter (Ch 5) reads like the SIF operating manual.
Currency markets, FX derivatives, exchange-traded currency futures and options in India.
Less directly relevant to most current SIFs (which are equity-focused) but mandatory exam content. Chapter 3 (Currency Futures) and Chapter 8 (RBI / FEMA framework) carry exam weight even if SIFs don't use them daily.
Fixed-income market, interest rate concepts, exchange-traded IRFs and IROs.
Relevant to hybrid LS SIFs that hold a debt sleeve, and to active asset allocator SIFs that adjust duration. Chapter 1 (Fixed Income concepts — duration, PVBP, yield curves) is essential vocabulary for any advisor positioning hybrid SIFs.
The three workbooks share structure: chapters 1–5 differ by underlying, chapters 6–10 are largely identical content. Our 6-week study plan tells you exactly which book to read first, where to read deeply, and where to skim — saving ~30% of total study time.
Open the 6-week study planSource attribution. All three workbooks are copyrighted by the National Institute of Securities Markets (NISM). They are publicly downloadable from the NISM portal. SIFPrime hosts a mirror for partner convenience only.
Before scheduling your exam, verify you have the latest version of each workbook directly from nism.ac.in. NISM publishes occasional revisions; the SIFPrime mirror is refreshed on a best-effort basis but the official portal is the source of truth.