The Central Bank approved changes to the procedure for testing unqualified investors for access to certain financial instruments. The changes will take effect 1 September.
It's about tests, which allow unqualified investors to use complex financial instruments, e.g. high yield bonds of small companies, futures and options. Tests can be taken at the broker.
In the new order, it is still necessary to answer 4 questions about the instrument necessary for the investor, but the questions will be selected randomly from 8. And in each combination there will be questions of different levels of complexity: for example, complex issue, 2 Medium and Light.
According to the Central Bank, this will reduce the likelihood of passing the test by iterating over the answer options. As a result, the likelihood of, that an investor will buy a complex instrument, failing to adequately assess your knowledge and risks of the tool. The fact, that the number of attempts is not limited and earlier, with the same set of questions, investors could give the right answers by searching for options.
By the end of the year, the Central Bank plans to increase the number of questions in the database for each instrument with 8 to 11. This will not complicate the test., but will make it more effective.
Testing of unqualified investors for access to some instruments is carried out from October 2021.
Tinkoff Journal has a selection of articles, which will help you better understand complex tools and prepare for tests.
