Free NISM Series XIII Common Derivatives Mock Test 2026

About the NISM Series XIII Common Derivatives exam

NISM Series XIII is the combined derivatives exam. NISM offers it as an alternative to taking the currency (Series I), interest rate (Series IV) and equity (Series VIII) derivatives exams separately, so one pass covers all three segments. That makes it popular with people who work across segments at a broker.

Because it spans three markets, the syllabus is wide: equity and currency futures and options, interest rate products, strategies, trading and clearing mechanics, risk management and regulation. It is also the longest NISM derivatives paper, so stamina and pacing matter as much as knowledge.

Our Series XIII mock tests use the full 150-question, 3-hour format. Sit at least a couple of them end to end before exam day, note where your accuracy drops off late in the paper, and revise the matching units of the NISM workbook.

Conducted by National Institute of Securities Markets (NISM). Official website

NISM Series XIII Common Derivatives exam pattern

The official pattern for the NISM-Series-XIII: Common Derivatives Certification Examination, as published by National Institute of Securities Markets (NISM).

Source: NISM (verified Oct 2026) . Exam bodies revise patterns; confirm on the official page before you book.

NISM Series XIII Common Derivatives syllabus

10 units in the official curriculum.

1. 1Basics of Derivatives
2. 2Introduction to the Underlying Markets
3. 3Introduction to Forwards and Futures
4. 4Strategies Using Futures
5. 5Introduction to Options – Options on Equities and Currencies
6. 6Option Trading Strategies – Strategies using Equity Options and Currency options
7. 7Introduction to Trading, Clearing, Settlement & Risk Management
8. 8Legal and Regulatory Environment
9. 9Accounting and Taxation
10. 10Sales Practices, Code of Conduct and Investor Protection Measures

NISM's curriculum page lists the units but does not publish unit-wise weightage. Source: NISM (verified Oct 2026)

Frequently asked questions

What is the NISM Series XIII exam pattern?

According to NISM, the exam has 150 questions of 1 mark each and must be completed in 3 hours. The pass mark is 60%, which is 90 out of 150.

Is there negative marking in NISM Series XIII?

There is negative marking of 25% of the marks assigned to a question, so a wrong answer costs a quarter mark. Leaving a question blank costs nothing.

Should I take Series XIII instead of Series I, IV and VIII?

If you need certification for more than one derivatives segment, NISM offers Series XIII as a single alternative to the three separate exams. If you only work in one segment, the individual exam is shorter. Check NISM's page for which certification your role needs.

Are your tests full length?

Yes. Each Series XIII mock test has 150 questions and a 180-minute timer, matching NISM's published pattern.

Are these NISM Series XIII Common Derivatives mock tests really free?

Yes. All 10 tests can be attempted free, with no card and no locked content. Each has 150 questions and a 180-minute timer. The site is kept free by advertising; ads are labelled and never appear inside a test.

Can I retake a test, and do I need an account?

You can retake any test as often as you like. A free account (name and email only) saves your answers, scores and attempt history.

I think an answer is wrong. What should I do?

Use the "Report an error" link under the question, or email support@freetestseries.com with the question ID. We review reports within 2 working days and fix confirmed mistakes.

Keep studying

• NISM sample questions (interactive)
• NISM Series XIII exam guide
• How we make and check our questions

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