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Series XV-B · Practice Set 2

NISM Series XV-B: Research Analyst Certification Renewal — Practice Set 2 Practice Questions

Second original practice set for NISM Series XV-B: Research Analyst Certification Renewal with scenario-style questions. Every question below shows the correct answer and a full explanation, so you can read through this set as a study page or attempt it as a timed mock test.

Attempt this set as a timed mock

Prefer an exam-like experience? Start this set as a shuffled, timed mock test with instant scoring, negative marking, and a full review screen.

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Practice questions

All 35 questions in Practice Set 2

Read each question, think through your answer, then expand it to check the correct option and explanation.

Research process

Q1. A candidate is reviewing a case where Research process affects an investor outcome. What should be checked first?

  1. A. The applicable rule, product feature, or process requirement
  2. B. Only the final numerical option
  3. C. Whether the option sounds familiar
  4. D. The shortest answer choice
Show correct answer & explanation

Correct answer: A. The applicable rule, product feature, or process requirement

Case questions usually test whether the learner can connect facts with the correct rule, product feature, or process.
Research process

Q2. During Research process revision, two options appear similar. What is the best way to decide?

  1. A. Compare the exact wording and identify the condition that changes the answer
  2. B. Choose the option with broader language every time
  3. C. Avoid the question
  4. D. Select the first familiar term
Show correct answer & explanation

Correct answer: A. Compare the exact wording and identify the condition that changes the answer

Similar options are common in certification exams. The exact condition in the question usually separates the correct answer from a distractor.
Research process

Q3. A process under Research process is not documented properly. What is the main risk?

  1. A. Weak audit trail, operational errors, or investor grievance
  2. B. Higher practice score
  3. C. Faster certification approval
  4. D. Automatic compliance
Show correct answer & explanation

Correct answer: A. Weak audit trail, operational errors, or investor grievance

Documentation supports accountability, auditability, and dispute resolution.
Research process

Q4. Which response shows the best professional conduct in a Research process situation?

  1. A. Explain risks and follow the prescribed process
  2. B. Hide limitations to complete the transaction quickly
  3. C. Ignore suitability concerns
  4. D. Rely only on verbal assumptions
Show correct answer & explanation

Correct answer: A. Explain risks and follow the prescribed process

Professional conduct requires transparency, process discipline, and investor-first decision making.
Research process

Q5. A mock result shows repeated errors in Research process. What should the learner do next?

  1. A. Read explanations, revise notes, and attempt a focused drill
  2. B. Move to another exam permanently
  3. C. Memorise only correct option letters
  4. D. Ignore skipped questions
Show correct answer & explanation

Correct answer: A. Read explanations, revise notes, and attempt a focused drill

Repeated errors are useful signals. They should guide focused revision before another timed attempt.
Disclosures

Q6. A candidate is reviewing a case where Disclosures affects an investor outcome. What should be checked first?

  1. A. The applicable rule, product feature, or process requirement
  2. B. Only the final numerical option
  3. C. Whether the option sounds familiar
  4. D. The shortest answer choice
Show correct answer & explanation

Correct answer: A. The applicable rule, product feature, or process requirement

Case questions usually test whether the learner can connect facts with the correct rule, product feature, or process.
Disclosures

Q7. During Disclosures revision, two options appear similar. What is the best way to decide?

  1. A. Compare the exact wording and identify the condition that changes the answer
  2. B. Choose the option with broader language every time
  3. C. Avoid the question
  4. D. Select the first familiar term
Show correct answer & explanation

Correct answer: A. Compare the exact wording and identify the condition that changes the answer

Similar options are common in certification exams. The exact condition in the question usually separates the correct answer from a distractor.
Disclosures

Q8. A process under Disclosures is not documented properly. What is the main risk?

  1. A. Weak audit trail, operational errors, or investor grievance
  2. B. Higher practice score
  3. C. Faster certification approval
  4. D. Automatic compliance
Show correct answer & explanation

Correct answer: A. Weak audit trail, operational errors, or investor grievance

Documentation supports accountability, auditability, and dispute resolution.
Disclosures

Q9. Which response shows the best professional conduct in a Disclosures situation?

  1. A. Explain risks and follow the prescribed process
  2. B. Hide limitations to complete the transaction quickly
  3. C. Ignore suitability concerns
  4. D. Rely only on verbal assumptions
Show correct answer & explanation

Correct answer: A. Explain risks and follow the prescribed process

Professional conduct requires transparency, process discipline, and investor-first decision making.
Disclosures

Q10. A mock result shows repeated errors in Disclosures. What should the learner do next?

  1. A. Read explanations, revise notes, and attempt a focused drill
  2. B. Move to another exam permanently
  3. C. Memorise only correct option letters
  4. D. Ignore skipped questions
Show correct answer & explanation

Correct answer: A. Read explanations, revise notes, and attempt a focused drill

Repeated errors are useful signals. They should guide focused revision before another timed attempt.
Compliance

Q11. A candidate is reviewing a case where Compliance affects an investor outcome. What should be checked first?

  1. A. The applicable rule, product feature, or process requirement
  2. B. Only the final numerical option
  3. C. Whether the option sounds familiar
  4. D. The shortest answer choice
Show correct answer & explanation

Correct answer: A. The applicable rule, product feature, or process requirement

Case questions usually test whether the learner can connect facts with the correct rule, product feature, or process.
Compliance

Q12. During Compliance revision, two options appear similar. What is the best way to decide?

  1. A. Compare the exact wording and identify the condition that changes the answer
  2. B. Choose the option with broader language every time
  3. C. Avoid the question
  4. D. Select the first familiar term
Show correct answer & explanation

Correct answer: A. Compare the exact wording and identify the condition that changes the answer

Similar options are common in certification exams. The exact condition in the question usually separates the correct answer from a distractor.
Compliance

Q13. A process under Compliance is not documented properly. What is the main risk?

  1. A. Weak audit trail, operational errors, or investor grievance
  2. B. Higher practice score
  3. C. Faster certification approval
  4. D. Automatic compliance
Show correct answer & explanation

Correct answer: A. Weak audit trail, operational errors, or investor grievance

Documentation supports accountability, auditability, and dispute resolution.
Compliance

Q14. Which response shows the best professional conduct in a Compliance situation?

  1. A. Explain risks and follow the prescribed process
  2. B. Hide limitations to complete the transaction quickly
  3. C. Ignore suitability concerns
  4. D. Rely only on verbal assumptions
Show correct answer & explanation

Correct answer: A. Explain risks and follow the prescribed process

Professional conduct requires transparency, process discipline, and investor-first decision making.
Compliance

Q15. A mock result shows repeated errors in Compliance. What should the learner do next?

  1. A. Read explanations, revise notes, and attempt a focused drill
  2. B. Move to another exam permanently
  3. C. Memorise only correct option letters
  4. D. Ignore skipped questions
Show correct answer & explanation

Correct answer: A. Read explanations, revise notes, and attempt a focused drill

Repeated errors are useful signals. They should guide focused revision before another timed attempt.
Valuation refreshers

Q16. A candidate is reviewing a case where Valuation refreshers affects an investor outcome. What should be checked first?

  1. A. The applicable rule, product feature, or process requirement
  2. B. Only the final numerical option
  3. C. Whether the option sounds familiar
  4. D. The shortest answer choice
Show correct answer & explanation

Correct answer: A. The applicable rule, product feature, or process requirement

Case questions usually test whether the learner can connect facts with the correct rule, product feature, or process.
Valuation refreshers

Q17. During Valuation refreshers revision, two options appear similar. What is the best way to decide?

  1. A. Compare the exact wording and identify the condition that changes the answer
  2. B. Choose the option with broader language every time
  3. C. Avoid the question
  4. D. Select the first familiar term
Show correct answer & explanation

Correct answer: A. Compare the exact wording and identify the condition that changes the answer

Similar options are common in certification exams. The exact condition in the question usually separates the correct answer from a distractor.
Valuation refreshers

Q18. A process under Valuation refreshers is not documented properly. What is the main risk?

  1. A. Weak audit trail, operational errors, or investor grievance
  2. B. Higher practice score
  3. C. Faster certification approval
  4. D. Automatic compliance
Show correct answer & explanation

Correct answer: A. Weak audit trail, operational errors, or investor grievance

Documentation supports accountability, auditability, and dispute resolution.
Valuation refreshers

Q19. Which response shows the best professional conduct in a Valuation refreshers situation?

  1. A. Explain risks and follow the prescribed process
  2. B. Hide limitations to complete the transaction quickly
  3. C. Ignore suitability concerns
  4. D. Rely only on verbal assumptions
Show correct answer & explanation

Correct answer: A. Explain risks and follow the prescribed process

Professional conduct requires transparency, process discipline, and investor-first decision making.
Valuation refreshers

Q20. A mock result shows repeated errors in Valuation refreshers. What should the learner do next?

  1. A. Read explanations, revise notes, and attempt a focused drill
  2. B. Move to another exam permanently
  3. C. Memorise only correct option letters
  4. D. Ignore skipped questions
Show correct answer & explanation

Correct answer: A. Read explanations, revise notes, and attempt a focused drill

Repeated errors are useful signals. They should guide focused revision before another timed attempt.
Disclosures

Q21. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q22. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q23. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q24. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q25. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q26. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q27. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q28. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q29. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q30. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q31. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q32. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q33. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Valuation refreshers

Q34. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Valuation refreshers. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.
Disclosures

Q35. In Series XV-B Scenario Practice, a learner wants to improve accuracy in Disclosures. Which study action is most useful?

  1. A. Review the concept, read explanations, and practise similar questions
  2. B. Memorise only the previous option letter
  3. C. Skip the topic because it appeared difficult
  4. D. Attempt faster without checking why answers were wrong
Show correct answer & explanation

Correct answer: A. Review the concept, read explanations, and practise similar questions

Accuracy improves when the learner connects the concept, the explanation, and repeated practice on the same weak area.

How to use this set

Work through the questions in order without expanding the answers first, exactly as you would in the real Series XV-B exam. Once you have picked an option, expand the answer to confirm whether you were right and read the explanation, even for questions you answered correctly, since the reasoning behind each option is where most of the learning happens.

If you get a question wrong, note the topic tag above the question and revisit that topic in the Series XV-B exam page before your next attempt. When you are ready for exam-condition practice, use the timed mock test above; it shuffles these questions, applies the negative marking rule, and gives you a scored review at the end.