Investor Testing

Hello! Investors are haunted and limited in the purchase of desired securities. To take advantage of all market opportunities, you need to be tested by a broker. What is this, why pass it and how? Today about it in the post. Like for useful content!

Investor Testing

Broker Testing Broker Testing

With 1 October 2021 G. unqualified investors must take a test of knowledge of financial products from their broker, to be able to invest in complex financial assets and use margin lending.

Here is a list of financial instruments and transactions, available only after successful testing:

1. Shares of the third level of Mosbirzhi listing. For example, Kazanorgsintez, NKNH, Bashneft, even Gazpromneft, etc..

2. Russian bonds rated below BB+by Expert RA or ACRA. Although previously they wanted to close only access to bonds, rating below AAA.

3. Foreign shares, not included in the indices from the list of the Bank of Russia. The main world indices are there, but they do not include, for example, promotions such as Snowflake, Virgin Galactic et al..

4. Foreign ETF third level listing. For example, RUSE Fund from ITI Funds.

5. Margin trading, ie. transactions on credit.

6. Options, futures, REPO agreements, structural bonds and units of closed mutual funds.

As we see, the most relevant – the first two points for most investors. If you don't want to be limited in these tools, you need to pass the test. No need to pass testing, if you have the status of a qualified investor. For example, I have a certificate of the FFMS 1.0, which gives the status of a qualified investor. So I don't have to take the tests., but I passed them on my other accounts, which are not for me.

Test questions from all brokers are the same. There 11 blocks for each financial instrument, for example:

  Ищю брокера

1. Share acquisitions, not included in quotation lists (third level listing)

2. Transactions on acquisition of bonds of Russian issuers

3. Acquisitions of foreign shares and units of foreign ETFs, etc..

In each block 7 questions, 3 of which is just for self-esteem - are they familiar with the tool, whether transactions were made, how long ago and how often. The answers to these questions do not count..

Other 4 question already on the topic of the block, to which you need to respond to 100% right, otherwise the test will not pass. Total 11 (Number of blocks) * 4 (Number of questions in each block) = 44 question.

The test can be taken online in the application or on the broker's website. For example, in VTB in your personal account on the website: Home Screen – "Settings" – "Testing for knowledge of complex financial instruments". In PSB: «Payments and transfers» – dial the command "test" – "Testing of unqualified investors".

Investment Testing ExamplesImon Investment Testing Examples

If all brokers have the same questions, then the implementation of testing is different. For example, in VTB each block is held separately: if passed - well done, pass the next block. And in the PSB, all the questions go in a row., and if you made a mistake somewhere, then you need to start all over again. The number of attempts to pass is not limited, therefore, all will pass.

Testing is more of a formality, to somehow warn people about, that in the financial market you can lose your money. Although anyone can pass it., even far from finances, because attempts are not limited.

I, By the way, not the first time passed. I made a mistake in such blocks, as repo and structural bonds, because I don't use these tools. But the benefit is the attempts on the rest. 4 I stuffed my hand and went right and quickly. Yes, yes, had to pass on each account, because a bunch of brokerage accounts.

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If you have another broker, not like mine, and you do not understand where and how to pass, then call the broker, and he will say, where to click. I did that basically..

Therefore, the phone or computer in hand and run to pass the tests, so as not to be infringed upon in investing! If you liked the post and it is useful, put likes.

Even more useful information about investments and finance in my Instagram – @long_term_investments . Subscribe!

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