Research Analyst Certification Examination Overview
Gathering and analyzing market data is the main responsibility of market research analysts. They devise methods and procedures for obtaining data, such as conducting Internet, telephone or direct-mail surveys or face-to-face consumer studies.
What are the course objectives?
- Know the basics of Indian Securities Markets and different terminologies used in equity and debt markets
- Know about the top down and bottom up approach to fundamental research
- Know the basic principles of micro and macroeconomic analysis, the sources of different information for analysis and the various macro economic variables affecting the analysis.
- Know the key industry drivers and sources of information for industry analysis.
- Understand about the Qualitative and Quantitative dimensions with regards to Company Analysis.
Course Fees ?
Name of Module: NISM-Series-XV: Research Analyst Certification Examination
|Fees (Rs.)||Test Duration (in minutes)||No. of Questions||Maximum Marks||Pass Marks* (%)||Certificate Validity#(in years)|
+: Inclusive of Service Tax. Payment Gateway Charges extra.
*: Negative marking – 25% of the marks assigned to the question
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
Benefits from this Course ?
Market Research Analysts and Marketing Specialists are responsible for creating surveys, conducting focus groups, and analyzing the data that is gathered. Market Research Analysts help their employer or client understand the wants and needs of consumers.
The examination seeks to create a common minimum knowledge benchmark for all associated persons registered as research analyst under SEBI (Research Analyst) Regulations, 2014, individuals employed as a research analyst and partners of a research analyst, engaged in the preparation and/or publication of research report or research analysis.
Frequently Asked Questions
Who can take NISM-Series-IV: Research Analyst Certification Examination?
- Approved users and sales personnel of the ‘Trading Members’ who are registered as such in the Currency Derivatives Segment of a recognized stock exchange and trading in Interest Rate Derivatives.
- Interested students/professionals
- Any other individuals
How can I register for NISM-Series-IV:Research Analyst Certification Examination?
Candidates can register with any of the following Test Administrators National Institute of Securities Markets (NISM) https://certifications.nism.ac.in/nismaol/For registrations candidates may visit any of the above websites.After successful registration, candidates may select a test center, date and time slot of their choice on the Test Administrator website. Candidates are required to follow further instructions available on the Test Administrator websites.
What is the assessment structure?
The examination will be of 100 marks, will have 100 questions, and should be completed in 2 hours. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60%.
Our Training Features
Top Notch Faculty
Free Demo For beginners
CHAPTER-1: Introduction to Research Analyst Profession
- Understand the Primary role of a Research Analyst
- Know the Primary responsibilities of a Research Analyst
- Know the Basic principles of interaction with Companies / Clients
- Understand the Important qualities of a Research Analyst
CHAPTER-2: Introduction to Securities Market
- Know about “Securities” and “Securities Market”
- Understand Product Definitions / Terminology
- Know the Structure of Securities Market
- Know Various market participants and their activities
- Learn about the Kinds of transactions
- Know about Dematerialization and Rematerialization of securities
CHAPTER-3: Terminology in Equity and Debt Markets
- Know about the Terminology in Equity Market
- Know about the Terminology in Debt Market
- Understand the Types of Bonds
CHAPTER-4: Fundamentals of Research
- Learn about investing
- Understand the Research on businesses or stocks
- Understand Fundamental Analysis – Top down approach and Bottom up approach
- Understand Technical Analysis
- Know about Behavioral Finance
CHAPTER-5: Economic Analysis
- Understand the basic principles of microeconomics
- Know the basic principles of macroeconomics
- Know the Introduction to various macroeconomic variables
- Know about the Sources of information for economic analysis
CHAPTER-6: Industry Analysis
- Understand Dr. Michael Porter’s five force model for industry analysis
- Understand Political, Economic, Socio-cultural, Technological, Legal and Environmental (PESTLE) Analysis
- Understand Boston Consulting Group (BCG) Analysis
- Understand Structure Conduct Performance (SCP) Analysis
- Know the Key Industry Drivers
- Understand the Regulatory environment/framework
- Know about the Sources of information for industry analysis
CHAPTER-7: Company Analysis – Qualitative Dimensions
- Understand Business and Business Models
- Know the Competitive Advantages/Points of differentiation over the competitors
- Understand Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis
- Know about Quality of management (including independent directors) and governance
- Understand Pricing power and sustainability of this power
- Know about the Organization structure
- Understand Critical business drivers/success factors
- Know about the Risks in the business
- Understand Compliance orientation of the company
- Know about the Documentation on Guidance v/s Actuals
- Know about the Sources of information for analysis
CHAPTER-8: Company Analysis – Quantitative Dimensions
- Know the History of Business Vs. Future of Business
- Understand the Basics of Profit and Loss Account (P/L)
- Understand the Basics of Balance Sheet (B/S)
- Understand the Basics of Cash Flows
- Know about the Contingent Liabilities, Off-balance sheet items, Accounting Policies, Notes to Accounts
- Know the Basics of Taxation affecting to Companies
- Know about the Important points to keep in mind while looking at financials
- Know about the Quality of business in the past through quantitative lenses
- Peeping in to future with caution
- Understand Peer Comparison
- Know the History of Equity expansion
- Understand about Dividend and earnings history
- Know the History of corporate actions
- Know the Ownership and Insiders’ Sales and Purchase of stocks in the past
CHAPTER-9: Corporate Actions
- Understand the philosophy of corporate actions
CHAPTER-10: Valuation Principles
- Know the difference between Price and Value
- Understand why Valuations are required
- Know the Sources of Value in a Business – Earnings and Assets
- Learn about the Discounted Cash Flows model for Business Valuation
- Learn about Absolute Valuations vs. Price-Value sense
- Know the Earnings based Valuation Matrices
- Know the Assets based Valuation Matrices
- Understand the Relative Valuations – Trading Multiples and Transaction Multiples
- Know the Sum-Of-The-Parts (SOTP) Valuation
- Know the other Valuation Parameters in new age economy and businesses
- Understand the Capital Asset Pricing Model
- Understand the Objectivity of Valuations
- Know some important considerations in the context of Business Valuation
CHAPTER-11: Fundamentals of Risk and Return
- Understand the Concept of return of investment and return on investment
- Know the Calculation of simple, annualized and compounded returns
- Learn about the Risks in investments
- Know the Concepts of market risk (Beta)
- Understand Sensitivity analysis to assumptions
- Know the Concept of Margin of Safety
- Know the Comparison of equity returns with bond returns
- Know the Basic Behavioral Biases influencing investments
- Know about some pearls of wisdom from Investment Gurus across the world
CHAPTER-12: Qualities of a good Research Report
- Learn about the Qualities of a good Research Report
- Know about the Checklist based approach to the Research Reports
- Know about the sample checklist for Investment Research Reports
CHAPTER-13: Legal and Regulatory Environment
- Understand the Regulatory infrastructure in Financial Markets s
- Understand the Important regulations in Indian Securities Market
- Know the Code of Conduct/Ethics for Research Analysts
- Know the Disclosure Requirements for Research Analysts