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Level 1: Assessment Structure

The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 60%. There shall be negative marking of 25% of the marks assigned to a question for each wrong answer.

Test Details

Name of Module: Investment Adviser (Level 1) Certification Examination

Fees (Rs.)	Test Duration (in minutes)	No. of Questions	Maximum Marks	*Pass Marks (%)**	Certificate Validity# (in years)
1500+	120	100	100	60	3

*: Negative marking - 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.

Level 2 : Assessment Structure

The examination consists of 8 caselets with 4 multiple choice questions of 2 marks each per caselet and 36 multiple choice questions of 1 mark each adding up to 100 marks. The examination should be completed in 2 hours. There is negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60 marks.

Test Details

Name of Module: Investment Adviser (Level 2) Certification Examination

Fees (Rs.)	Test Duration (in minutes)	No. of Questions	Maximum Marks	*Pass Marks (%)**	Certificate Validity# (in years)
1500+	120	68~	100	60	3

~ 36 multiple choice questions of 1 mark each and 8 caselets with 4 multiple choice questions of 2 marks each (Total 68 questions adding up to 100 marks).
*: Negative marking - 25% of the marks assigned to the question
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.