Market knowledge
This part includes the definition, nature, characteristics and classification of basic capital market tools such as stocks, bonds and securities investment funds. Definition, characteristics, composition and classification of financial derivatives such as financial options, financial futures and convertible securities; The emergence, development, structure and operation of the securities market; The establishment, main business, internal control and risk control index management of securities operating institutions; Basic knowledge of China's securities market, such as legal system, regulatory framework, ethics, qualification management of employees, etc.
Through this part of the study, it is required to master the basic knowledge, basic theory, main regulations and professional ethics of securities and securities markets; Master the main business and risk supervision of securities intermediaries.
Chapter I Overview of the Securities Market
Master the definition, classification and characteristics of securities and marketable securities; Master the definition, characteristics, structure and basic functions of the securities market; Understand the meaning and composition of commodity securities, currency securities and capital security.
Chapter II Stocks
Master the definition, nature, characteristics and classification methods of stocks; Familiar with the differences and characteristics of common stock and preferred stock, registered stock and bearer stock, par value stock and non-par value stock; Master some concepts of fund management related to stocks.
Chapter III Bonds
Master the definition, par elements, characteristics and classification of bonds; Familiar with the similarities and differences between bonds and stocks; Familiar with the basic nature of bonds and the main factors affecting the maturity and interest rate of bonds; Familiar with the concepts and characteristics of various bonds.
Chapter IV Securities Investment Funds
Master the definition and characteristics of securities investment funds; Master the difference between funds and stocks and bonds; Familiar with the function of the fund; Familiar with the development of China securities investment fund industry; Familiar with the classification method of securities investment funds; Master the definitions and differences between contractual funds and corporate funds, closed-end funds and open-end funds; Master the content of money market fund management; Familiar with the meaning of various funds; Master the concept and characteristics of exchange-traded open-end funds; Understand the similarities and differences between ETF and LOF.
Chapter V Financial Derivatives
According to the types, product forms, trading places and trading methods of financial derivatives, master the concept, basic characteristics, associated risks and different classification methods of financial derivatives; Understand the reasons for the emergence and development of financial derivatives and the latest development trend of financial derivatives.
Chapter VI Operation of Securities Market
Familiar with the concepts of securities issuance market and trading market and their relationship; Master the meaning, function and composition of the distribution market; Familiar with the classification of securities issuance; Master the securities issuance system and the securities issuance system in China; Familiar with securities underwriting system. Master the types and conditions of stock issuance in China; Master the issuing method and pricing method of China stock. Master the issuance management and conditions of corporate bonds in China; Familiar with bond issuance and pricing methods.
Chapter VII Securities Intermediaries
Master the definition of securities company; Understand the development process of China securities companies; Master the conditions for establishing a securities company in China and the requirements for registered capital; Familiar with the examination and approval requirements for the establishment of securities companies and major changes; Master the forms, conditions and regulatory requirements for securities companies to set up branches; Master the supervision system of China securities companies.
Chapter VIII Legal System, Supervision and Management of the Securities Market
Master the level of laws and regulations in the securities market; Master the adjustment scope, purpose and main contents of securities law and company law; Familiar with the scope, purpose and main contents of the adjustment of the Securities Investment Fund Law, and familiar with the main provisions of the Criminal Law on securities crimes; Familiar with the adjustment scope, purpose and main contents of anti-money laundering law.
Issuance and underwriting
This part includes the investment banking business of securities institutions, an overview of joint-stock companies, the reform of joint-stock companies, the preparation and recommendation approval procedures for initial public offering, the operation of initial public offering, the information disclosure of initial public offering, the issuance of new shares by listed companies, convertible corporate bonds and exchangeable corporate bonds, the issuance of bonds, the issuance of foreign shares, company acquisition, company restructuring and financial advisory services.
Through this part of the study, it is required to be familiar with the basic theory, qualifications and management requirements of securities institutions' investment banking business; Master the business processes, practice standards and management requirements of various businesses and links of securities issuance and underwriting in China.
Chapter I Investment Banking by Securities Institutions
Familiar with the meaning of investment bank. Understand the historical development of foreign investment banks. Master the evolution of issuance supervision system, the change of stock issuance mode, the evolution of stock issuance pricing and the development of bond management system in the development of investment banking in China.
Chapter II Overview of Limited by Share Ltd.
Familiar with the principles, methods, conditions and procedures of establishing a joint stock limited company. Understand the concept, qualification and legal status of promoters of joint stock limited companies. Familiar with the nature, content and revision of the articles of association of a joint stock limited company. Master the difference between a joint stock limited company and a limited liability company, and the change requirements and procedures of the two companies.
Chapter III Joint-stock System Reform of Enterprises
Familiar with the purpose and requirements of enterprise shareholding system reform. Master the requirements for the reorganization of the company to be listed and the procedures for the reorganization of the enterprise into a company limited by shares to be listed.
Chapter IV Preparation for Initial Public Offering and Approval Procedures for Recommendation
Master the specific sponsorship business in the process of issuing underwriting; Familiar with the application documents for initial public offering; Master the basic requirements of prospectus, prospectus capital verification, prospectus summary, asset evaluation report, audit report, profit forecast audit report (if any), legal opinion, lawyer's work report and counseling report.
Chapter V Operation of Initial Public Offering of Stocks
Understand the general principles, basic objectives and contents of the reform of new share issuance. Understand the main reform measures in the second stage of IPO reform.
securities trading
This part includes the definition, principles and elements of securities trading; Special trading matters of trading mechanism and trading procedures; Basic knowledge and management requirements of securities brokerage business, proprietary business, customer asset management business, margin trading and bond repurchase transactions; Concept and application of securities registration, clearing and settlement.
Through this part of the study, it is required to master the characteristics and management requirements of procedures, trading rules, brokerage, self-management, customer asset management, margin trading and bond repurchase transactions. Master the types and basic contents of securities registration, the basic principles, processes, settlement risks and prevention of clearing and settlement.
investment analysis
This part includes the investment value analysis of stocks, bonds, securities investment funds, convertible bonds, stock index futures and warrants; Basic indicators of macroeconomic analysis, the relationship between macroeconomic operation, economic policy, international financial market environment and securities market; The determinants of supply and demand in the stock market and their changing characteristics: the general characteristics of the industry, the main factors affecting the rise and fall of the industry and the qualitative and quantitative analysis methods of the industry; Analysis of the company's basic characteristics, financial analysis and other major factors; Main theories and technical indicators of technical analysis of securities investment; Portfolio theory, capital pricing model and portfolio performance evaluation; Technical application of financial engineering, hedging and arbitrage of futures (including stock index futures), and VaR method of risk management.
Through this part of the study, it is required to master the basic theory and application methods of value analysis, macroeconomic analysis, industry analysis, company analysis, technical analysis, securities portfolio, the theory and application of financial engineering and futures, and the relevant provisions of securities analysts, securities investment consultants and securities investment consulting business.
investment fund
This part includes an overview of securities investment funds; Types of securities investment funds; Fund raising, trading and registration; The main responsibilities, internal management and internal control of the fund management company and the fund custodian; Fund marketing; Fund valuation, expenses and accounting; Income distribution and fund taxation; Information disclosure of funds; Supervision of the fund; Portfolio theory and its application; Asset allocation management; Portfolio management of stocks and bonds and fund performance measurement.
Through this part of the study, it is required to master the basic theory, operation practice and investment knowledge related to fund investment management, and be familiar with the basic requirements of relevant laws, regulations and self-discipline rules.
Reference regulations
The reference list of laws and regulations includes laws, administrative regulations and normative documents related to the securities market, judicial interpretations, major regulations and normative documents of China Securities Regulatory Commission (hereinafter referred to as "China Securities Regulatory Commission").
Candidates should be familiar with the main contents of the following laws, administrative regulations, departmental rules and regulatory documents of the China Securities Regulatory Commission according to the subjects they take. The judicial interpretation and the main self-discipline rules of Shanghai Stock Exchange, Shenzhen Stock Exchange, China Securities Association, China Securities Depository and Clearing Co., Ltd. and China Financial Futures Exchange should be understood by candidates.