🧪 NISM FULL TIMED MOCK TEST (100 QUESTIONS)
⏱️ Total Time: 120 Minutes
📝 Total Questions: 100 MCQs
🎯 Marks: 100 (1 mark each)
❌ Negative Marking: No
📌 INSTRUCTIONS
- Attempt all questions
- Choose only ONE correct option
- Do not pause timer once started
- Manage time carefully
- Suggested pace: 1 question = ~1 minute
🕒 START YOUR EXAM NOW
PART A: SECURITIES MARKET BASICS (1–20)
- Primary market is used for:
A) Trading shares
B) Issuing new securities
C) Forex trading
D) Commodity trading - SEBI regulates:
A) Banking
B) Securities market
C) Insurance
D) Tax system - Demat account is used for:
A) Cash storage
B) Holding securities electronically
C) Loan approval
D) Tax filing - Stock exchange is a:
A) Bank
B) Marketplace for securities
C) Insurance company
D) Government office - IPO stands for:
A) Internal Public Offer
B) Initial Public Offering
C) Index Price Option
D) Investment Private Order - T+1 settlement means:
A) Trade + same day
B) Trade + 1 day
C) Trade + 10 days
D) Trade + 1 month - Face value is also called:
A) Market value
B) Nominal value
C) Trading value
D) Real value - Secondary market refers to:
A) New issue market
B) Trading of existing securities
C) Banking system
D) Insurance market - Depository in India includes:
A) RBI
B) NSDL/CDSL
C) SEBI
D) NSE - SEBI established in:
A) 1985
B) 1988
C) 1992
D) 1995 - Bull market means:
A) Falling prices
B) Rising prices
C) Stable prices
D) Closed market - Bear market means:
A) Rising prices
B) Falling prices
C) No trading
D) Fixed prices - Liquidity means:
A) Hard to sell
B) Easy to convert into cash
C) Fixed asset
D) Loan - Volatility means:
A) Stability
B) Price fluctuation
C) Fixed return
D) Dividend - NSE stands for:
A) National Stock Exchange
B) New Securities Entity
C) National Savings Exchange
D) None - BSE stands for:
A) Bombay Stock Exchange
B) Business Stock Exchange
C) Bank Stock Exchange
D) Basic Stock Entity - Trading happens in:
A) Primary market
B) Secondary market
C) Banking market
D) Insurance market - SEBI protects:
A) Companies
B) Investors
C) Banks
D) Government - Insider trading is:
A) Legal
B) Illegal use of confidential info
C) Mutual fund investing
D) Banking - Market regulator in India is:
A) RBI
B) SEBI
C) NABARD
D) IRDAI
PART B: MUTUAL FUNDS (21–40)
- Mutual fund is managed by:
A) Investors
B) AMC
C) RBI
D) SEBI - NAV stands for:
A) Net Asset Value
B) Net Annual Value
C) New Average Value
D) None - SIP means:
A) Systematic Investment Plan
B) Stock Income Policy
C) Secure Investment Plan
D) Simple Index Plan - Equity funds invest in:
A) Bonds
B) Stocks
C) FD
D) Gold - Debt funds invest in:
A) Shares
B) Bonds
C) Crypto
D) Real estate - Exit load is charged on:
A) Buying units
B) Early redemption
C) Dividend
D) SIP start - Open-ended funds allow:
A) No redemption
B) Continuous buying/selling
C) Fixed maturity
D) Government control - Closed-ended funds:
A) No trading
B) Fixed maturity
C) Daily SIP
D) Unlimited entry - KYC is required for:
A) Driving
B) Investments
C) Passport
D) Voting - Risk depends on:
A) AMC name
B) Asset type
C) Advertisement
D) Broker - Dividend means:
A) Loan
B) Profit distribution
C) Tax
D) Penalty - Mutual fund returns depend on:
A) Weather
B) Market performance
C) Government salary
D) Bank loans - SIP benefits include:
A) Timing market perfectly
B) Rupee cost averaging
C) Free insurance
D) Fixed profit - AMC stands for:
A) Asset Management Company
B) Annual Market Control
C) Asset Market Capital
D) None - Systematic risk is:
A) Diversifiable
B) Market-wide risk
C) Company risk only
D) Zero risk - Debt funds are:
A) High risk
B) Low to moderate risk
C) Zero risk
D) Gambling - Mutual fund units are priced by:
A) RBI
B) NAV
C) SEBI
D) Stock exchange - Redemption means:
A) Buying units
B) Selling units
C) Bonus shares
D) IPO - Fund manager role is:
A) Government control
B) Investment decision
C) Banking
D) Tax collection - Mutual fund returns are:
A) Guaranteed
B) Market-linked
C) Fixed
D) Zero
PART C: DERIVATIVES (41–60)
- Derivatives derive value from:
A) Bank deposits
B) Underlying asset
C) Cash only
D) Fixed income - Futures contract is:
A) Optional
B) Obligation
C) Gift
D) Loan - Options give:
A) Obligation
B) Right but not obligation
C) Fixed return
D) Tax benefit - Call option means:
A) Right to sell
B) Right to buy
C) Loan
D) Deposit - Put option means:
A) Right to buy
B) Right to sell
C) Insurance
D) Dividend - Margin money is used for:
A) Tax
B) Risk coverage
C) Banking
D) Salary - Short selling means:
A) Buying stock
B) Selling borrowed stock
C) Holding stock
D) Bonus shares - Hedging is used to:
A) Increase risk
B) Reduce risk
C) Eliminate tax
D) Increase loss - Volatility indicates:
A) Stability
B) Price fluctuation
C) Fixed return
D) Dividend - NSE is:
A) National Stock Exchange
B) New Securities Entity
C) National Savings Entity
D) None - F&O stands for:
A) Future & Options
B) Fund & Order
C) Fixed & Open
D) Finance & Operations - Leverage means:
A) Low return
B) Borrowed capital use
C) No risk
D) Fixed profit - Derivatives market is:
A) Low risk always
B) High risk
C) No trading
D) Government only - Futures price is based on:
A) Random value
B) Underlying asset
C) Bank rate
D) Tax - Options premium is:
A) Refundable always
B) Cost of option
C) Tax
D) Brokerage only - Strike price is:
A) Market price
B) Fixed execution price
C) Dividend price
D) NAV - Derivatives are used for:
A) Gambling only
B) Hedging & speculation
C) Banking
D) Insurance - Expiry date means:
A) Start date
B) End of contract
C) Dividend date
D) IPO date - Derivatives trading is done in:
A) Primary market
B) Secondary market
C) F&O segment
D) Banking - Risk in derivatives is:
A) Zero
B) High
C) None
D) Fixed
PART D: REGULATION (61–80)
- SEBI protects:
A) Companies
B) Investors
C) Banks
D) Government - KYC stands for:
A) Know Your Customer
B) Keep Your Cash
C) Known Yield Capital
D) Key Yield Control - AML means:
A) Anti Money Laundering
B) Asset Market Law
C) Annual Market List
D) Asset Money Loan - Insider trading is:
A) Legal
B) Illegal use of insider info
C) Mutual fund
D) Banking - Broker acts as:
A) Regulator
B) Intermediary
C) Bank
D) Government - Risk disclosure is:
A) Hidden info
B) Investor awareness
C) Profit guarantee
D) Trading ban - IPO allotment is regulated by:
A) RBI
B) SEBI rules
C) Banks
D) Brokers - Grievance redressal means:
A) Profit system
B) Complaint resolution
C) Trading system
D) Investment plan - Financial literacy means:
A) Banking only
B) Financial knowledge
C) Insurance only
D) Trading only - SEBI full form relates to:
A) Banking
B) Securities regulation
C) Insurance
D) Tax - Stock broker license is given by:
A) RBI
B) SEBI
C) Government
D) Banks - Depository helps in:
A) Cash handling
B) Electronic securities holding
C) Tax filing
D) Insurance - Market manipulation is:
A) Legal
B) Illegal
C) Encouraged
D) Required - Arbitration is used for:
A) Profit making
B) Dispute resolution
C) Trading
D) Banking - Investor protection fund is for:
A) Brokers
B) Investors
C) Government
D) Companies - Stock exchange membership is:
A) Free always
B) Regulated
C) Illegal
D) Random - Compliance means:
A) Breaking rules
B) Following rules
C) Trading
D) Investing - Audit ensures:
A) Fraud
B) Transparency
C) Loss
D) Trading - Risk profiling is used for:
A) Banking
B) Investor suitability
C) Tax
D) Insurance - SEBI headquarters is in:
A) Mumbai
B) Delhi
C) Kolkata
D) Chennai
PART E: ADVANCED (81–100)
- Risk-return relation is:
A) Direct
B) Inverse
C) None
D) Random - Diversification reduces:
A) Profit
B) Risk
C) Tax
D) Brokerage - Inflation affects:
A) Currency value
B) Only banks
C) Only stocks
D) Only bonds - Asset allocation means:
A) Loan process
B) Investment distribution
C) Banking
D) Insurance - Beta measures:
A) Return
B) Risk
C) Dividend
D) Tax - Systematic risk affects:
A) One company
B) Entire market
C) Banks only
D) Bonds only - Efficient market means:
A) No info
B) All info reflected
C) Fixed price
D) No trading - Liquidity means:
A) Hard to sell
B) Easy to convert cash
C) Fixed asset
D) Loan - Bull market indicates:
A) Downtrend
B) Uptrend
C) No trade
D) Fixed market - Bear market indicates:
A) Uptrend
B) Downtrend
C) Stable
D) Closed - Opportunity cost means:
A) Free gain
B) Loss of alternative choice
C) Profit only
D) Dividend - Compounding increases:
A) Loss
B) Returns over time
C) Tax
D) Risk only - Time value of money means:
A) Money same always
B) Money value changes with time
C) No value
D) Fixed value - Liquidity risk is:
A) Easy selling
B) Difficulty in selling
C) No risk
D) Profit - Credit risk means:
A) Loan default risk
B) Market risk
C) Inflation risk
D) Currency risk - Market risk is also called:
A) Systematic risk
B) Specific risk
C) Zero risk
D) Credit risk - Arbitrage means:
A) Loss
B) Risk-free profit
C) Tax
D) Banking - Portfolio means:
A) Single stock
B) Collection of investments
C) Loan
D) Bank account - Financial planning means:
A) Gambling
B) Managing money goals
C) Only saving
D) Only spending - Wealth creation needs:
A) Luck only
B) Discipline & investment
C) Gambling
D) Loans
NISM MOCK TEST – ANSWER KEY (1–100)
| Q | Ans | Q | Ans | Q | Ans | Q | Ans |
|---|---|---|---|---|---|---|---|
| 1 | B | 26 | B | 51 | A | 76 | B |
| 2 | B | 27 | B | 52 | B | 77 | B |
| 3 | B | 28 | B | 53 | B | 78 | B |
| 4 | B | 29 | B | 54 | B | 79 | B |
| 5 | B | 30 | B | 55 | B | 80 | A |
| 6 | B | 31 | B | 56 | B | 81 | A |
| 7 | B | 32 | B | 57 | B | 82 | B |
| 8 | B | 33 | B | 58 | B | 83 | A |
| 9 | B | 34 | A | 59 | C | 84 | B |
| 10 | C | 35 | B | 60 | B | 85 | B |
| 11 | B | 36 | B | 61 | B | 86 | B |
| 12 | A | 37 | B | 62 | A | 87 | B |
| 13 | B | 38 | B | 63 | A | 88 | B |
| 14 | B | 39 | B | 64 | B | 89 | B |
| 15 | A | 40 | B | 65 | B | 90 | B |
| 16 | B | 41 | B | 66 | B | 91 | B |
| 17 | B | 42 | B | 67 | B | 92 | B |
| 18 | B | 43 | B | 68 | B | 93 | B |
| 19 | B | 44 | B | 69 | B | 94 | B |
| 20 | B | 45 | B | 70 | B | 95 | A |
| 21 | B | 46 | B | 71 | B | 96 | A |
| 22 | A | 47 | B | 72 | B | 97 | B |
| 23 | A | 48 | B | 73 | B | 98 | B |
| 24 | B | 49 | B | 74 | B | 99 | B |
| 25 | B | 50 | A | 75 | B | 100 | B |