Careers360 Logo
NCFM Modules - NCFM Foundation, Intermediate, Advanced Courses List

NCFM Modules - NCFM Foundation, Intermediate, Advanced Courses List

Edited By Marar Sumeet Sudarshan | Updated on Oct 04, 2023 11:48 AM IST

NCFM Modules - The NCFM course which stands for NSE Academy Certification in Financial Markets includes three modules which are the foundation module, intermediate module and advanced module. These three NCFM modules together constitute the NCFM certification which is proof of one’s skills and knowledge about different aspects of the financial markets. There are no specific NCFM eligibility norms and the NCFM courses are open to anyone. Interested learners can complete NCFM Modules through an online NCFM login id and password which they receive at the time of NCFM registration. Using the NCFM login credentials they can access their personal NCFM account and make online payments, access NCFM study material and enrol for NCFM tests at the designated test centres of their choice. Given below in this article are the details of each NCFM module.

NCFM Foundation Module

As the name suggests, the NCFM foundation module is meant for beginners to introduce them to the basic concepts in the area of banking and insurance and finance. The cost of each of the courses is Rs.2006 as fixed by the NSE academy.

Given below is the NCFM course list that contains a brief overview of the course content in each of the NCFM module.

Sl No.

Module Name

Course Content

Test Pattern

1

Financial Markets Module

  • Markets & Financial Instruments

  • Primary & Secondary Market

  • Analysis of Financial Statements- P&L, Balance Sheet

  • SEBI, BSE, NSE

No. of Questions: 60

Max Marks: 100

Pass Marks:50


No negative marking

2

Mutual Funds Module

  • Introduction to mutual funds

  • Mutual fund products & features

  • Gold ETF, Debt Funds & Liquid Funds

  • Taxation & Regulation

No. of Questions: 60

Max Marks: 100

Pass Marks:50


No negative marking

3

Currency Derivatives Module

  • Derivatives as risk management tool

  • Currency markets & currency futures

  • Strategies using currency futures

  • Trading, clearing and settlement

No. of Questions: 60

Max Marks: 100

Pass Marks:50


No negative marking

4

Equity Derivatives Module

  • Introduction, definition & application of derivatives

  • Trading futures & options

  • Derivatives trading on the exchange

No. of Questions: 60

Max Marks: 100

Pass Marks:50

No negative marking

5

Interest Rate Derivatives Module

  • Interest rates and time value of Money

  • Money & fixed Income Markets

  • Government bonds

  • Interest rate derivatives & futures


No. of Questions: 60

Max Marks: 100

Pass Marks:50


No negative marking


6

Commercial Banking in India Module

  • History, introduction to banking and banking structure in India

  • Bank deposit accounts & bank lending

  • Bank investments

  • Customer relationships in banks


No. of Questions: 60

Max Marks: 100

Pass Marks:50


No negative marking


7

Securities Market Module Module

  • Overview of the securities market

  • Primary Market, Secondary, Market, Govt. Securities Market,Derivatives Market

  • Mathematics & Statistics


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for incorrect answer

8

Clearing Settlement & Risk Management Module Module

  • Introduction to National Securities Clearing Corporation

  • Liquid asset

  • Securities lending & borrowing scheme

  • Clearing & settlement in new debt segment, equity derivatives segment, and currency derivatives segment

  • Services

No. of Questions: 75

Max Marks: 100

Pass Marks:60


0.25% negative marking for incorrect answer

NCFM Intermediate Module

The intermediate module is the longest NCFM module containing a total of 21 NCFM courses. The module covers more advanced concepts from the financial market, building on the foundation concepts introduced in the beginner module. The cost of each of the NCFM courses in this NCFM module is Rs. 2006 except the commodities market module which costs Rs. 2124.

Given below is a table containing the ncfm course details and question pattern of the intermediate NCFM module

Sl. No

Module Name

Course Content

Test Pattern

1

Capital Markets (Dealers) Module

  • Overview of the Indian securities market

  • Trading & trading membership

  • Clearing & settlement

  • Legal framework

  • Fundamental valuation concepts


No. of Questions: 60

Max Marks: 100

Pass Marks:50


0.25% negative marking for wrong answer

2

Derivatives Markets (Dealers) Module

  • Introduction to derivatives

  • Understanding interest rates & stock indices

  • Futures & options

  • Trading of derivative contracts

  • Clearing & settlement

  • Regulatory framework

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

3

Investment Analysis & Portfolio Management

  • Objectives of investment decisions

  • Financial markets

  • Fixed income securities

  • Capital market efficiency

  • Financial analysis and valuation

  • Modern portfolio theory

  • Valuation of derivatives

  • Investment Management

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

4

Fundamental Analysis Module

  • Introduction to fundamental analysis

  • Understanding financial statements

  • Valuation methodologies


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

5

Options Trading Strategies Module

  • Introduction to options

  • Different options strategies


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

6

Operations Risk Management Module

  • Introduction to operations risk

  • Trades in secondary market

  • Clearing & settlement of trades

  • Workflow design

  • Basel Norms

No. of Questions: 75

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

7

Banking Sector Module

  • Introduction to Banking

  • Banking & Economy

  • Bank Deposits, Nomination, and Deposit Insurance

  • Banking services and customer relationship

  • Understanding of bank financials

  • BASEL and regulatory framework

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

8

Treasury Management Module

  • Treasury management fundamentals

  • Product/Exposure structures

  • Capital structure and weighted average cost of capital

  • Treasury management in manufacturing, service, banking & finance companies

  • Accounting issues in treasury management

  • Treasury management processes

  • Risk management in treasury


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

9

Insurance Module

  • Introduction to insurance

  • Fundamentals of risk management

  • Insurance contract, terminology, elements and principles

  • Personal & General insurance

  • Financial planning & life insurance

  • Type of life insurance policies

  • Insurance intermediaries


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

10

Macroeconomics for Financial Markets Module

  • Introduction to macroeconomics

  • Inflation & interest rates

  • National income accounting

  • Government & fiscal policy

  • Money & monetary policy

  • Financial markets

  • External sector

  • Regulatory institutions in India


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

11

NSDL Depository Operations Module

  • Rationale for a depository

  • Services provided by a depository

  • Processes involved in a depository’s functioning

  • Understanding the NSDL application software

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

12

Commodities Market Module

  • Introduction to derivatives

  • Application of futures & options

  • Commodity derivatives

  • NCDEX platform

  • Regulatory framework and taxation aspect

No. of Questions: 60

Max Marks: 100

Pass Marks:50


0.25% negative marking for wrong answer

13

Surveillance in Stock Exchange Module

  • Basic investment mathematics

  • Rules & regulations

  • Investigation, surveillance and risk management

No. of Questions: 50

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

14

Technical Analysis Module

  • Introduction to technical analysis

  • Candle charts

  • Pattern study

  • Major indicators & oscillators

  • Trading strategies

  • Dow theory & Elliott Wave theory

  • Trading psychology & risk management


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

15

Mergers & Acquisitions Module

  • Introduction to mergers & acquisitions

  • Scheme of compromise, arrangement or re-construction

  • Buyback of securities

  • Substantial acquisition of shares & takeovers

  • Delisting of equity shares

  • Valuation

  • Accounting for mergers & acquisitions

  • Taxation

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

16

Back Office Operations Module

  • KYC, anti-money laundering,

  • Primary market and secondary market, Depository operations

  • Registrar & transfer agent

  • Mutual fund - amc operations

  • Qualified foreign investors - equity shares

  • Qualified foreign investors - mutual funds

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

17

Wealth Management Module

  • Introduction to financial planning

  • Wealth management & economy

  • Investment & risk management: Equity, Debt & Alternate asset

  • Investment products & services

  • Investment evaluation framework

  • Risk profiling & asset allocation

  • Risk management through insurance

  • Elements of taxation

  • Taxation of investment products

  • Estate planning


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

18

Project Finance Module

  • Project finance background

  • Market analysis

  • Business model, competencies & promoter analysis

  • Estimating cost of project

  • Project feasibility analysis

  • Financial projections

  • Project finance & their sources


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

19

Venture Capital & Private Equity Module

  • Private equity background

  • Getting ready for growth capital from funds

  • Business model, business plan & financial model

  • Buyouts & other transactions

  • PE investment process

  • Documentation & typical investment conditions

  • Tax aspects of PE investment

  • Post investment support, management & exit

  • EMERGE platform of NSE

No. of Questions: 70

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

20

Financial Services Foundation

  • Orientation in financial analysis, investment banking, equity research and portfolio management

  • Preparing for claritas certification from CFA

No. of Questions: 45

Max Marks: 100

Pass Marks:50



21

NSE Certified Quality Analysis Module

  • Understanding how quality relates to a finance professional

  • Business relevance of customer focus & quality

  • Applying data analysis and decision making tools in everyday work

  • Popular problem solving tools & methodologies and systematic approach to quality improvement

  • Calculating productivity, and identifying and eliminating different types of waste

No. of Questions: 60

Max Marks: 100

Pass Marks:50



NCFM Advanced Module

As is clear by the name, the advanced NCFM module in the NCFM certification contains very advanced concepts from the financial world. It is the last of the three stages in the NCFM course. Once the candidate obtains the NCFM certification, they will be ready for a career in the finance field. In this NCFM module, there are 7 modules.

The course fees for all the courses in this NCFM module is Rs. 2006 except the Information Services Security Professionals module which costs Rs.11800 and Algorithmic Trading module which costs Rs.7080

Given below is a table containing the NCFM course details and question pattern of this NCFM module

Sl No.

Module Name

Course Content

Question Pattern

1

Information Services Security Professionals

  • Regulatory, legal and compliance issues in information security for financial markets

  • Physical & environmental security as well as security management practices

  • Business continuity plan’s provisions

No. of Questions: 160

Max Marks: 160

Pass Marks:60



2

Algorithmic Trading Module

  • Introduction to algorithmic trading

  • Order types

  • Trading strategies

  • Algorithmic trading - system architecture

  • Risk management in algorithmic trading

  • Audit & compliance process

No. of Questions: 100

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

3

Financial Markets (Advanced) Module

  • Financial markets, products & institutions

  • Quantitative background to debt

  • Debt -investment drivers & approaches

  • Financial statements - analysis and projections for equity

  • Equity -valuation & investment decisions

  • Derivatives

  • Alternate assets & structured products

  • International markets

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

4

Securities Markets (Advanced) Module

  • Introduction to capital market

  • Fundamental analysis of equity

  • Primary markets process

  • Membership on exchanges


No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

5

Derivatives (Advanced) Module

  • Derivatives & Quantitative Fundamentals Investment with Equity Futures

  • Interest Rate Futures

  • Black-Scholes Option Pricing Model

  • Option greeks

  • Currency futures & options

  • Swaps


No. of Questions: 55

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

6

Mutual Funds (Advanced) Module

  • Mutual Funds in perspective

  • Investments by Mutual Fund Schemes

  • Valuation of Investments by Mutual Fund Schemes

  • Mutual Fund Accounting

  • Novel Portfolio Structures in Mutual Fund Schemes

  • Quantitative Evaluation of Mutual Fund Schemes

  • Cut-off Time Regulations & Time Stamping

  • Investment in Mutual Funds through Exchange

  • Non-Resident Investment in Indian M F Schemes

  • Investment by Indians in International MF Schemes

  • Mutual fund taxation

No. of Questions: 60

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

7

Options Trading (Advanced) Module

  • Options - a backgrounder

  • Quantitative concepts - a backgrounder

  • Binomial option pricing model

  • Black scholes option pricing model

  • Options greeks

  • Volatility

  • Basic option & stock positions

  • Option trading strategies

  • Exotic options

  • Market indicators

No. of Questions: 35

Max Marks: 100

Pass Marks:60


0.25% negative marking for wrong answer

NCFM Study Material

All the NCFM modules have been designed as self learning courses and candidates can take the test throughout the year at the designated centre of their choice. However, to help learners complete the NCFM certification, there is also NCFM study material available that can be accessed by making the required payment through the online NCFM login account.

Learners will either get the NCFM modules pdf study material delivered on the registered email or they can use the e-library section by logging in to the online NCFM account.

In addition tothat learners can also access a few mock test papers that are made available by the nse on their website - nseindia.com/learn model-test. The NCFM modules free download link for these sample papers can be found on the official website.

Frequently Asked Question (FAQs)

1. What are modules in NCFM?

NCFM modules are a compilation of different NCFM courses divided into three segments - foundation, intermediate, and advanced.

2. Is NCFM certification tough?

The NCFM course is a compilation of 36 modules arranged into three difficulty levels - foundation, intermediate, and advanced. The NCFM certification requires proper preparation with the study material and self learning.

3. When is the NCFM test conducted?

The NCFM test is conducted throughout the year at designated test centres.

4. Is the NCFM exam online or offline?

The NCFM test for different modules is conducted online and the test consists of multiple choice questions.

5. How many modules are there in NCFM?

NCFM modules are broadly divided into three foundation, intermediate, and advanced. There are 8 courses in foundation module, 21 courses in intermediate module and 7 courses in advanced module. 

6. Does NCFM provide study material?

Yes. Candidates can purchase the study material by logging into their NCFM account.

7. What is the duration of NCFM course?

NCFM is a self learning course.  The exams are conducted throughout the year. Candidates can register for any exam after paying the required fee.

Articles

Upcoming Finance Exams

Application Date:08 February,2024 - 07 August,2024

CA Final Exam

Application Date:07 August,2024 - 20 August,2024

CMA Intermediate

Result Date:23 August,2024 - 23 August,2024

View All Finance Exams
Get answers from students and experts
Budget Analyst

Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.

4 Jobs Available
Data Analyst

The invention of the database has given fresh breath to the people involved in the data analytics career path. Analysis refers to splitting up a whole into its individual components for individual analysis. Data analysis is a method through which raw data are processed and transformed into information that would be beneficial for user strategic thinking.

Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.

3 Jobs Available
Underwriter
3 Jobs Available
Finance Executive
3 Jobs Available
Product Manager
3 Jobs Available
Operations Manager
3 Jobs Available
Stock Analyst
2 Jobs Available
Researcher

A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.

2 Jobs Available
Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

5 Jobs Available
QA Manager
4 Jobs Available
Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

3 Jobs Available
Production Manager
3 Jobs Available
Product Manager
3 Jobs Available
QA Lead

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

2 Jobs Available
Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

2 Jobs Available
Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

2 Jobs Available
Back to top