NCFM (NSE Academy’s Certification in Financial Markets) is an online certification and testing programme provided by the reputed National Stock Exchange (NSE).
The NCFM certification is one of the most recognized and trusted certification courses in finance available in India. It is widely acclaimed across all the financial domains and adds that extra weightage to your resume.
Why opt for NCFM?
NCFM tests your skills and practical knowledge required to operate in the financial sector. The certificates are awarded to candidates based on merit who qualify the online test.
The course curriculum of NCFM certification has everything a financial expert needs in the modern markets and helps the student get enormous job opportunities after the qualification.
The NCFM Modules
The flexibility and ease of accessibility involved in NCFM certification programs result in its large acceptance among students, professionals, and market intermediaries.
Here’s the list of modules in which NCFM certification tests the expertise:
- Foundation Module
- Intermediate Module
- Advanced Module
Foundation Module
This is meant for students who are looking to create a long lasting career in the financial markets in India or want to learn about the fundamentals of the capital market from a very basic level.
The duration of this test is 120 minutes and total number of questions are 60. The candidate needs to score at least 50% to pass and there is no negative marking in this module.
The validity of certificate for successful candidates is five years.
The tests under Foundation module includes: Mutual Funds, Capital Markets Fundamentals, Banking Fundamentals, Clearing Settlement and Risk Management, Securities Market, FIMMDA-NSE Debt Market, Commercial Banking in India, Interest Rate Derivatives, Equity Derivatives and Currency Derivatives.
Fundamental Module – Pattern and Exam Details
| Course/Certification | Fees | Test Duration | No of Questions | Maximum Marks | Pass Percentage | Validity |
| Financial Markets: A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| Mutual Funds: A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| Currency Derivatives: A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| Equity Derivatives: A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| Interest Rate Derivatives: A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| Commercial Banking in India : A Beginner’s Module | 1726 | 120 | 60 | 100 | 50 | 5 |
| FIMMDA-NSE Debt Market (Basic) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Securities Market (Basic) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Clearing Settlement and Risk Management Module | 1726 | 60 | 75 | 100 | 60 | 3 |
| Banking Fundamentals – International | 1726 | 90 | 48 | 48 | 29 | 2 |
| Capital Markets Fundamentals – International | 1726 | 90 | 40 | 50 | 30 | 2 |
Intermediate Modules
The intermediate modules are perfect for you, if you already have a basic knowledge of the capital markets and you want to learn more about it.
One of the intermediate modules is the Capital Market (Dealers) Module (CMDM) which includes understanding of the capital market trading operations in National Stock Exchange. It also includes clearing, settlement and risk management processes and other important regulatory aspects of the financial market.
The duration of the test is 105 minutes and 60 questions need to be answered in that time.
The validity of the certificate is five years and least 50% score is required to clear the exam. There are a total of 25 tests under the intermediate module.
Intermediate Module – Pattern and Exam Details
| Course/Certification | Fees | Test Duration | No of Questions | Maximum Marks | Pass Percentage | Validity |
| Capital Market (Dealers) Module (CMDM) | 1726 | 105 | 60 | 100 | 50 | 5 |
| Derivatives Market (Dealers) Module (DMDM) | 726 | 120 | 60 | 100 | 60 | 3 |
| Investment Analysis and Portfolio Management | 1726 | 120 | 60 | 100 | 60 | 5 |
| Fundamental Analysis Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Options Trading Strategies Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Operations Risk Management Module | 1726 | 120 | 75 | 100 | 60 | 5 |
| Banking Sector Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Treasury Management Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Insurance Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Macroeconomics for Financial Markets Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| NSDL-Depository Operations Module | 1726 | 75 | 60 | 100 | 60 | 5 |
| Commodities Market Module | 2070 | 120 | 60 | 100 | 50 | 3 |
| Surveillance in Stock Exchanges Module | 1726 | 120 | 50 | 100 | 60 | 5 |
| Corporate Governance Module | 1726 | 90 | 100 | 100 | 60 | 5 |
| Compliance Officers (Brokers) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Compliance Officers (Corporates) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Information Security Auditors Module (Part-1) | 2587 | 120 | 90 | 100 | 60 | 2 |
| Information Security Auditors Module (Part-2) | 2587 | 120 | 90 | 100 | 60 | 2 |
| Technical Analysis Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Mergers and Acquisitions Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Back Office Operations Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Wealth Management Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Project Finance Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Venture Capital and Private Equity Module | 1726 | 120 | 70 | 100 | 60 | 5 |
| Financial Services Foundation | 1150 | 120 | 45 | 100 | 50 | NA |
| NSE Certified Quality Analyst Module | 1726 | 120 | 60 | 100 | 50 | NA |
Advanced Modules
NCFM Advanced Modules are for candidates who already have a very strong hold on finance with relevant experience and they are looking to advance their career in finance even more
For instance, Algorithmic Trading Module is a great pick you want to learn about different trading strategies and risk management in algorithmic trading.
Total duration of this test is 60 minutes, a minimum 60% score is required to pass and there is negative marking for incorrect answers.
Other tests under Advanced modules are: Investment Banking Operations, Business Analytic Module, Certified Credit Research Analyst, Financial Modeling Course, Market Risk Module, Issue Management Module, Equity Research Module, Modules of Financial Planning Standards Board India, Options Trading Module, Mutual Funds, Derivatives, Securities Market and Financial Markets Module.
Advanced Module – Pattern and Exam Details
| Course/Certification | Fees | Test Duration | No of Questions | Maximum Marks | Pass Percentage | Validity |
| Financial Markets (Advanced) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Securities Market (Advanced) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Derivatives (Advanced) Module | 1726 | 120 | 55 | 100 | 60 | 5 |
| Mutual Funds (Advanced) Module | 1726 | 120 | 60 | 100 | 60 | 5 |
| Options Trading (Advanced) Module | 1726 | 120 | 35 | 100 | 60 | 5 |
| Modules of Financial Planning Standards Board India (Certified Financial Planner Certification) | 2876 per exam | 120 | 77 | 150 | 50 | NA |
| Equity Research Module | 1726 | 120 | 49 | 60 | 60 | 2 |
| Issue Management Module | 1726 | 120 | 55 | 70 | 60 | 2 |
| Market Risk Module | 1726 | 120 | 40 | 65 | 60 | 2 |
| Financial Modeling Course | 1150 | 150 | 50 | 100 | 50 | NA |
| Business Analytics Module | 1726 | 120 | 66 | 100 | 50 | NA |
| Investment Banking Operations – International | 1726 | 120 | 82 | 100 | 60 | 2 |
NCFM certification tests have greatly helped aspirants looking for good financial career options. It is well-recognized across the country and the qualifiers acquire reputed profiles and build up their career in financial services.
