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Knowledge test

    Module 1: Knowledge of Products and Markets

  1. What placement procedures are you aware of?

    Public placement
    Private placement
    Bank placement
    Investment placement

  2. What special bond types are there?

    Subordinate bonds
    Pensions
    Dual-currency convertible bonds
    Floating-rate bonds

  3. What do bonus certificates certify?

    Membership rights
    Ownership rights
    Voting rights
    Subscription rights

  4. The price of a put increases

    in direct proportion to the dividend
    in inverse proportion to the interest rate
    in inverse proportion to the exercise price
    in direct proportion to the remaining duration

  5. The duties of the fund manager among other things include:

    Preparing the annual financial statements of the fund
    Upholding the provisions of the Investment Fund Act and the statutes of the fund itself
    Granting permission to create an Investment Fund
    Supervision of the Investment Fund Act and the statutes of the fund itself

    6. Module 2: Rules and Regulations

  6. The deadline for the lawful notification of qualifying holding is of:

    Four exchange days after the creation of the obligation to notify
    Three days after the creation of the obligation to notify
    30 minutes after the creation of the obligation ot notify

  7. Where are the securities dealers' rules of conduct defined?

    Within the participant institution's internal organisational and business regulations
    Within the statues of the SIX Swiss Exchange
    In the guidelines set out by the Swiss Bankers Association

  8. The principle of "best execution" is based on:

    The securities dealer's duty of disclosure
    The securities dealer's duty of diligence
    The securities dealer's duty of record-keeping

  9. The securities dealer needs to take the professional knowledge and expertise of his clients into account to meet the requirements of his duty of loyalty.

    True
    False

  10. Investor protection covers:

    The protection of investors against abusive executions on the part of securities dealers
    The preservation of transparency in stock exchange dealings
    The compensation for financial losses sustained by investors with few liquidities
    The guarantee of the equal treatment of all investors

    11. Module 3: Trading and Settlement

  11. The following functional features of the Trading System can also be used by non-registered personnel:

    Trade Confirmation
    Insight into the order book
    Trade Report
    Addressed Offer

  12. Which statements are true?

    An addressed order is a non-binding offer directed at a specific participant
    In contrast to a statement of interest, the order size and price of an addressed offer must be shown
    An addressed offer does not appear on the book

  13. Who reports exchange trades to SIS (SEGAINTERSETTLE AG)?

    SIX Swiss Exchange
    Both parties to the trade
    The buyer
    The seller

  14. What determines the price of a given security during opening in the quote-driven part of the exchange system?

    Market orders
    Quotes
    Limit orders
    Fill or Kill orders

  15. How is equal treatment of all participants in the exchange system ensured?

    All market makers have the same access to the features of the quote-driven exchange system
    The entries made by participants will be processed in the order in which they have been received by the exchange system
    Via the gateway, all participants have an equal opportunity to access SIX Swiss Exchange.
    Equal treatment is impossible to ensure.

    16. Module 4: SWX Trading Platform

  16. If, at the opening, a limit buy order appears on the bid who's limit is lower than the reference price an there are buy and sell market orders of the same size, the market orders…

    are matched at the limit
    are not matched and the result is a non-opening
    are matched at the reference price
    are matched at the arithmetic mean of the reference price and the limit

  17. The market is at the pre-opening stage. The detailed orderbook for shares of XYZ Ltd. looks like this:



    What would the opening price be if the market opened at this point?

    The opening price would be 99
    The opneing price would be 98
    An orderbook as shown here would result in a non-opening
    The opening price would be 98.50

  18. A stop trading for shares…

    occurs if the price to be paid changes by more than 2% against the reference price
    occurs if the difference between the price to be paid and the reference price results in a surplus of market orders
    can be reversed by entering counter-orders
    can be suspended by the SIX Swiss Exchange at the request of a participant

  19. Normal orders in the Market Maker Book…

    are always market orders
    are limit and market orders
    must remain valid for a week
    are always agent orders

  20. At the opening, only to same-size orders are on the book (buy 200 shares at 753, sell 200 shares at 751). The reference price is 753. What happens?

    The orders are carried out at the reference price
    The orders are carried out at the arithmetic mean of the two prices (=752)
    No transaction takes place
    The traders entereing the orders are prompted by the exchange system to find a mutual limit and change the orders.


  
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Member Section
Trade Reporting (RSD)