The NISM Research Analyst certification is conducted by the National Institute of Securities Markets (NISM) under SEBI’s mandate. Eligibility requires a graduate degree in any discipline, though finance, commerce, or economics backgrounds are preferred. The exam syllabus covers fundamentals such as Indian securities markets, research processes, company analysis, valuation techniques, and regulatory frameworks, including SEBI orders related to research analysts. The exam fee is ₹1,500, and the test consists of 100 multiple-choice questions. Upon passing, candidates can apply for SEBI Research Analyst registration through exchanges like BSE or NSE. Recommended study materials include NISM’s official workbook and mock tests to strengthen conceptual understanding. To become a SEBI registered Research Analyst, candidates must clear the NISM exam, meet qualification and experience criteria, and submit necessary documents for BSE RA registration.