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NISM Certifications · NISM-Series-X-A: Investment Adviser (Level 1) · Key Regulations

Under the SEBI (Investment Advisers) Regulations, 2013, which of the following is a basic requirement for an individual to be registered as an investment adviser?

An individual seeking registration as an investment adviser must have the prescribed professional qualification and a valid NISM certification, which means passing both Series X-A and X-B. Broking experience, exchange membership or portfolio manager registration are not required.

  1. AHolding a valid NISM certification and prescribed qualificationCorrect
  2. BBeing a member of a stock exchange
  3. CHolding a minimum of 10 years of experience as a broker
  4. DBeing registered as a portfolio manager

Explanation

An individual investment adviser must hold the prescribed educational qualification and a valid NISM certification (X-A and X-B). Stock exchange membership, broking experience or portfolio manager registration are not conditions for IA registration.

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