Securities Industry Practitioner Qualification Examination Outline 2010

Part 1 Basic Knowledge of the Securities Market

Purpose and Requirements

Pass this part Learning requires proficiency in the basic knowledge, basic theories, major regulations and professional ethics of securities and securities markets; mastering the main business and risk supervision of securities intermediaries.

Chapter 1 Overview of the Securities Market

Master the definition, classification and characteristics of securities and securities; master the definition, characteristics, structure and basic functions of the securities market; understand commodity securities, currency The meaning and composition of securities, capital securities, money market and capital market.

Understand the composition of securities market participants, including securities issuers, securities investors, securities market intermediaries, self-regulatory organizations and securities regulatory agencies; understand the entities issuing securities and their issuance purposes; understand institutional investors The main types and investment management; master the meaning and types of securities market intermediaries and the composition of securities market self-regulatory organizations; be familiar with the risk characteristics and investment appropriateness of investors; be familiar with stock exchanges, securities industry associations, securities registration and clearing institutions, securities Key responsibilities of regulators; understanding the implications of individual investors.

Be familiar with the background, history, current situation and future development trends of the securities market; understand the new trends in the global securities market after the outbreak of the US subprime mortgage crisis; master the historical development stages and opening-up content of the securities market in New China ; Familiar with the changes in China's capital market after the implementation of the new Securities Law and Company Law; Familiar with the measures taken to face the global financial crisis; Familiar with the "Several Opinions on Promoting the Reform, Opening up and Stable Development of the Capital Market" ("National Article 9" ""); understand the securities market in the early stages of capitalist development and before China's liberation; understand the opening up of my country's securities industry after joining the WTO.

Chapter 2 Stocks

Master the definition, nature, characteristics and classification methods of stocks; be familiar with ordinary stocks and preferred stocks, registered stocks and bearer stocks, and stocks with par value and without par value. The differences and characteristics of stocks; master some capital management concepts related to stocks;

Be familiar with the different meanings and connections of stock par value, book value, liquidation value, and intrinsic value; master the theoretical price and market price of stocks connections and differences; master the basic factors and other factors that affect stock price changes.

Understand the rights and obligations of common stock shareholders; master the company's profit distribution order, dividend distribution principles and residual asset distribution order; be familiar with shareholders' participation rights in major decision-making, asset income rights, residual asset distribution rights, and preemptive stock options concepts.

Be familiar with the definition and characteristics of preferred stocks; understand the significance of issuing or investing in preferred stocks; understand the classification of preferred stocks and the meaning of various preferred stocks.

Master the concepts of various shares in my country classified by the nature of investment entities; master the meaning of state shares, legal person shares, public shares, and foreign-invested shares; master the classification and meaning of my country's stocks according to whether they are restricted in circulation; Familiar with concepts such as A shares, B shares, H shares, N shares, S shares, L shares, and red chip stocks.

Be familiar with the situation of my country's share-trading reform.

Chapter 3 Bonds

Master the definition, face elements, characteristics, and classification of bonds; be familiar with the similarities and differences between bonds and stocks; be familiar with the basic properties of bonds and the factors that affect bond terms and interest rates The main factors; familiarity with the concepts and characteristics of various types of bonds.

Master the definition, nature and characteristics of government bonds; master the classification of central government bonds; be familiar with the issuance overview of my country's national bonds, the types, characteristics and differences of my country's national bonds; understand the issuing entities and classification methods of local bonds and The issuance of local government bonds in my country; be familiar with the concepts of treasury bonds, deficit treasury bonds, construction treasury bonds, special treasury bonds, physical treasury bonds, currency treasury bonds, book-entry treasury bonds, certificate-type treasury bonds, and savings bonds; be familiar with the purpose and issuance status of my country's special treasury bonds .

Master the definition and classification of financial bonds, corporate bonds and enterprise bonds; master the management regulations of corporate bonds in my country; be familiar with the types and issuance profiles of financial bonds in my country; be familiar with the role and issuance of central bank bills; be familiar with The meaning of various corporate bonds; familiar with the management regulations of corporate bonds in my country; familiar with the differences between corporate bonds and enterprise bonds in my country; familiar with the differences between exchangeable bonds and convertible bonds; familiar with convertible corporate bonds in my country and convertible companies that can be separated and traded Regulations governing bonds and exchangeable debentures.

Master the definition and characteristics of international bonds; master the concepts and characteristics of foreign bonds and European bonds; understand the issuance of international bonds in my country; understand Yankee bonds, Samurai bonds, Panda bonds and other foreign bonds; understand Dragon Bonds and Dragon Bond Markets; Learn about Asian bond markets.

Chapter 4 Securities Investment Funds

Master the definition and characteristics of securities investment funds; master the differences between funds, stocks and bonds; be familiar with the role of funds; be familiar with the characteristics of my country’s securities investment fund industry Development overview; be familiar with the classification methods of securities investment funds; master the definitions and differences between contract funds and corporate funds, closed-end funds and open-end funds; master the management content of money market funds; be familiar with the meaning of various types of funds; master exchange transactions The concepts and characteristics of open-end funds; understand the similarities and differences between ETFs and LOFs.

Be familiar with the rights and obligations of fund share holders; master the concepts, qualifications, responsibilities, replacement conditions, and business scope of fund managers; master the concepts, conditions, responsibilities, and replacement conditions of fund custodians; be familiar with The relationship between the fund parties.

Be familiar with the meaning and withdrawal regulations of fund management fees, custody fees, transaction fees, operation fees, sales and service fees.

Understand the meaning of fund net asset value; be familiar with the concept of fund asset valuation and the basic principles of valuation.

Be familiar with the sources of fund income, profit distribution methods and distribution principles; understand the investment risks of the fund; understand the information disclosure requirements of the fund.

Understand the investment scope and investment restrictions of the fund.

Chapter 5 Financial Derivatives

Master the concepts and basic characteristics of financial derivatives and their different classification methods according to the types of basic instruments, product forms, trading venues and trading methods; Understand the reasons for the emergence and development of financial derivatives and the latest development trends of financial derivatives.

Master the definitions, basic characteristics and main differences of spot, forward and futures transactions; master the concepts of financial forward contracts and forward contract markets, and the types of forward contracts; understand the current stage of my country's inter-bank bonds Basic information on market forward transactions, foreign exchange forward transactions, forward interest rate agreements and overseas RMB NDF.

Master the definitions of financial futures and financial futures contracts; be familiar with the differences between financial futures trading, financial spot trading and forward trading; master the centralized trading system of financial futures, standardized futures contracts and hedging mechanisms, margin systems, Main trading systems such as debt-free settlement system, position limit system, large account reporting system, daily price fluctuation limit and circuit breaker rules; master the main categories of financial futures contracts; understand the mainstream varieties and trading rules of overseas financial futures contracts. Master the content and trading rules of CSI 300 stock index futures contracts; master the hedging, price discovery, speculation and arbitrage functions of financial futures. Understand the main categories and transaction characteristics of swap transactions; understand the business content of RMB interest rate swaps; understand the meaning and main risks of credit default swaps (CDS).

Master the definition and characteristics of financial options; master the functions and effects of financial futures and financial options on underlying assets, symmetry of rights and obligations, performance guarantees, cash flow, profit and loss characteristics, and hedging, etc. The difference; be familiar with the main types of financial options according to the nature of the option, contract performance time, and the nature of the underlying asset of the option; understand the main functions of financial options.

Master the definition, classification, and elements of warrants; be familiar with the issuance, listing, and trading of warrants.

Master the definition and characteristics of convertible bonds; master the main elements of convertible bonds. Understand the difference between the concept of detachable corporate bonds with warrants and general convertible bonds.

Master the definition of depositary receipts; understand the types of American depositary receipts and the institutions related to the issuance and trading of American depositary receipts; understand the advantages of depositary receipts; understand the depositary receipts issued in my country.

Understand the meaning of asset securitization and the main types of securitized assets; understand the relevant parties of asset securitization; understand the structure and process of asset securitization; understand the current credit asset securitization and real estate trusts in China's banking industry The current situation, characteristics and development trends of investment units; understand the crisis of US subprime loans and related securitization products.

Master the definition, categories of structured derivatives, and the benefits and risks of structured financial derivatives.

Chapter 6 Securities Market Operation

Be familiar with the concepts of securities issuance market and trading market and the relationship between them; master the meaning, function and composition of the issuance market; be familiar with the classification of securities issuance; master Securities issuance system and my country's securities issuance system; familiar with the securities underwriting system. Understand the types and conditions of stock issuance in my country; master the issuance methods and issuance pricing methods of stocks in my country. Master the issuance management and issuance conditions of corporate bonds in my country; be familiar with bond issuance methods and issuance pricing methods.

Master the definition, characteristics, and functions of stock exchanges; be familiar with the organizational form of stock exchanges; master the hierarchical structure of my country's stock exchange market; be familiar with the listing system of my country's securities market; be familiar with the operations of stock exchanges System; master securities trading principles and trading rules. Familiar with the definition, characteristics and functions of the OTC market; familiar with the main functions and trading systems of the inter-bank bond market; familiar with the concept of my country's agency share transfer system, types of listed companies and management regulations.

Master the concepts and functions of stock price averages and stock price indexes, and understand the compilation steps and methods; master my country's main stock price indexes, bond indexes and fund indexes; understand the major international securities markets and their stock price averages Number, stock price index.

Master the concepts of securities investment returns and risks; be familiar with the sources and forms of stock and bond investment returns; master the meaning of securities investment systemic risks and non-systematic risks, and be familiar with risk sources, mechanisms, influencing factors and returns relationship to risk.

Chapter 7 Securities Intermediaries

Understand the definition of securities companies; Understand the development history of securities companies in my country; Understand the conditions for the establishment of securities companies in my country and the requirements for registered capital; Understand the requirements for securities companies in China The forms, conditions and regulatory requirements for establishing branches; be familiar with the evolution of the regulatory system for securities companies.

Understand the types, business contents and relevant management regulations of securities companies’ main businesses.

Master the main contents of the governance structure of securities companies; master the goals and principles of internal control of securities companies, and be familiar with the main contents of internal control of various businesses of securities companies; be familiar with the concepts, basic systems and regulations of compliance management of securities companies Qualifications, responsibilities, and performance guarantees of the Compliance Director. Understand the regulations on risk control indicator management of securities companies, relevant net capital and its calculation, risk control indicator standards and regulatory measures.

Familiar with the types of securities service institutions; familiar with the management of law firms engaged in securities legal business; familiar with the management of certified public accountants practicing securities and futures-related businesses; familiar with the management of securities and futures investment consulting institutions; Familiar with the management of credit rating agencies engaged in securities business; familiar with the management of asset assessment agencies engaged in securities and futures business; familiar with the legal responsibilities and market access of securities service agencies.

Chapter 8 Securities Market Legal System and Supervision and Management

Master the adjustment objects, scope and main contents of the "Securities Law" and "Company Law"; be familiar with the "Securities Investment Fund Law" The object, scope and main content of the adjustment, and be familiar with the main provisions of the Criminal Law on securities crimes.

Understand the main contents of the "Regulations on the Supervision and Administration of Securities Companies" and the "Regulations on the Risk Disposal of Securities Companies". Master the price inquiry system for initial public offerings of stocks and the regulations on securities sales in the "Measures for the Administration of Securities Issuance and Underwriting"; master the relevant provisions of the "Measures for the Administration of Pilot Margin and Securities Lending Business of Securities Companies" and business guidelines; master the "Initial Public Offering" The relevant provisions of the "Interim Measures for the Administration of the Listing of Stocks on the GEM"; master the relevant provisions of the "Securities Market Prohibition Regulations".

Be familiar with the significance and principles of securities market supervision, and the goals and means of market supervision. Understand my country's securities market regulatory agencies; understand the securities regulatory agencies of the State Council and their composition; be familiar with the responsibilities and powers given to securities regulatory agencies by the new "Securities Law". Master the regulatory content on securities issuance and listing, securities trading markets, listed companies, and securities operating institutions. Understand the source, use, supervision and management of securities investor protection funds; be familiar with the significance and responsibilities of the establishment of China Securities Investor Protection Fund Corporation.

Be familiar with the self-regulatory management agencies of the securities market; master the main functions of the stock exchange, front-line regulatory powers, self-regulatory management of securities trading activities, members, and listed companies; master the responsibilities of the Securities Industry Association and the supervision of members Self-regulatory management of units, practitioners, and agency share transfer systems; familiar with the relevant regulations on the qualification management of securities practitioners; familiar with the main contents of the integrity information management system for securities practitioners; familiar with the establishment conditions, functions, settlement systems and other self-discipline of securities registration and clearing companies Management; understand the applicable objects and self-regulatory management institutions, basic standards, prohibited behaviors, supervision and punishment stipulated in the code of conduct for securities industry practitioners.

Part 3 Securities Transactions

Purpose and Requirements

This part includes the definition, principles and elements of securities transactions; trading mechanisms, trading procedures and special trading matters ; Basic knowledge and management requirements for securities brokerage business, self-operated business, client asset management business, margin trading and securities lending business, and bond repurchase transactions; concepts and applications of securities registration, clearing, and settlement, etc.

Through the study of this part, you are required to be proficient in the procedures, trading rules, brokerage, self-operation, customer asset management, margin trading and bond repurchase transactions of the procedures, characteristics and management requirements of securities transactions. Understand the types and basic contents of securities registration, the basic principles and procedures of clearing and settlement, and settlement risks and prevention.

Chapter 1 Overview of Securities Trading

Master the definition, characteristics and principles of securities trading; be familiar with the types of securities trading; be familiar with the methods of securities trading; be familiar with the types of securities investors; master The conditions for the establishment of securities companies and the businesses that can be carried out; familiar with the meaning of securities trading venues; master the functions of stock exchanges and securities registration and clearing companies.

Be familiar with the types and objectives of securities trading mechanisms.

Understand the qualifications, rights and obligations of stock exchange members; be familiar with the daily management of stock exchange members; be familiar with the punishment regulations for stock exchange members’ violations; be familiar with the rules of the stock exchange’s trading seats and trading units Meaning, types and management methods.

Chapter 2 Securities Trading Procedures

Be familiar with the basic procedures of securities trading. Master the types of securities accounts; master the basic principles and requirements for opening securities accounts; be familiar with the concepts of securities custody and securities depository; master the contents of my country's securities custody system.

Understand the content of entrustment instructions; be familiar with the form of securities entrustment; master the procedures and processes of entrustment acceptance; master the reporting principles and reporting methods for entrustment execution; be familiar with the conditions and procedures for the revocation of entrustment instructions.

Master the bidding principles and bidding methods of securities transactions. Be familiar with the types of transaction fees in securities trading; master the meaning and charging standards of various transaction fees.

Be familiar with the clearing and settlement procedures between securities companies and customers.

Chapter 3 Special Transaction Matters and Supervision

Master the relevant regulations of the Shanghai Stock Exchange’s block trading and the Shenzhen Stock Exchange’s comprehensive agreement trading platform business; be familiar with the reversal trading system; be familiar with the reversal trading system; Special regulations on stock trading; familiar with the special regulations on the suspension and termination of listing of stocks on the Small and Medium Enterprise Board. Understand how the opening price and closing price are generated; be familiar with the rules for listing, delisting, suspension and resumption of trading of securities listed on the stock exchange; master the handling of securities ex-rights (dividends) and the calculation method of ex-rights (dividends) prices; be familiar with abnormal situations in securities transactions handling regulations; be familiar with the trading regulations of the comprehensive electronic platform for fixed income securities.

Be familiar with the stock exchange’s trading information release and management rules; master the stock exchange’s regulations on the supervision of trading activities; be familiar with the relevant regulations on the management of securities transactions for qualified foreign institutional investors.

Chapter 4 Securities Brokerage Business

Be familiar with the meaning and characteristics of securities brokerage business; master the process of establishing a securities brokerage relationship; be familiar with the main contents of the "Securities Trading Agency Agreement"; master Requirements for opening a transaction settlement fund account; master the main contents of third-party custody of clients' securities transaction settlement funds; be familiar with the concepts, rights and obligations of securities transaction clients and securities brokers.

Be familiar with the general requirements for the operation and management of securities brokerage business; be familiar with the operating specifications of the main links of the brokerage business; be familiar with the key contents of investor education and appropriateness management; be familiar with the prohibited behaviors in the brokerage business;

Familiar with the main content and practices of securities brokerage business marketing; familiar with the basic requirements for securities brokerage business marketing supervision;

Familiar with the main contents and requirements of internal control of securities brokerage business; familiar with the risk types of securities brokerage business; familiar with Risk prevention measures for brokerage business; familiar with regulatory measures and legal responsibilities of brokerage business.

Chapter 5 Related Practices of Brokerage Business

Understand the meaning and types of online stock issuance; master the basic regulations and operating procedures for fund subscription for online stock issuance.

Master the operational procedures for dividend distribution; master the operational procedures for allotment payment; be familiar with the operational regulations for online voting at general meetings of shareholders.

Familiar with the relevant regulations of the listed open-end fund business; familiar with the relevant regulations of the exchange-traded open-end index fund business; familiar with the relevant regulations of the warrant business; familiar with the operational procedures of convertible bond conversion.

Understand the meaning and business scope of securities companies’ agency share transfers; be familiar with the qualifications of securities companies engaged in agency share transfer services; master the basic rules for agency share transfers; be familiar with the quotation and transfer of shares of unlisted joint-stock companies General content.

Be familiar with the meaning of the intermediary business of securities companies; be familiar with the qualifications and business scope of securities companies providing intermediary business; master the business rules of securities companies providing intermediary business.

Chapter 6 Securities Proprietary Business

Understand the meaning and characteristics of securities proprietary business; master the basic requirements for the management of securities proprietary business; be familiar with the contents of prohibited behaviors in securities proprietary business ; Familiar with the supervision and legal responsibilities of securities proprietary business.

Chapter 7 Asset Management Business

Understand the meaning and types of asset management business; be familiar with the conditions for securities companies to obtain asset management business qualifications; be familiar with the basic principles and principles of client asset management business management General regulations; be familiar with the relevant regulations and requirements for client asset custody.

Be familiar with the basic principles of directional asset management business; be familiar with the basic specifications for the operation of directional asset management business; be familiar with the basic matters and main contents that should be included in directional asset management contracts; be familiar with the basic requirements for internal control of directional asset management business ;

Be familiar with the basic specifications for the operation of collective asset management business; be familiar with the filing and approval procedures for establishing a collective asset management plan; be familiar with the basic contents of the collective asset management plan description; be familiar with the basic matters that should be included in the collective asset management contract and main content.

Be familiar with the rights and obligations of securities companies and customers in the collective asset management business.

Be familiar with the relevant regulations on prohibited behaviors in the asset management business; be familiar with the risks and preventive measures of the asset management business; be familiar with the regulatory measures of the asset management business and the legal liability for violations of relevant regulations by the asset management business.

Chapter 8 Margin and Securities Lending Business

Understand the meaning of margin trading and securities lending business, and be familiar with the basic requirements for qualification management of margin trading and securities lending business.

Master the basic principles of margin trading and securities lending business management; master the account system of margin trading and securities lending business; be familiar with margin trading and securities lending business customer applications, customer credit investigation, and customer selection criteria; be familiar with margin trading and securities lending business Basic contents of the contract and risk disclosure letter; familiar with the basic requirements for opening a customer account and the determination of credit limit and credit granting methods.

Understand the general rules of margin trading and securities lending transactions; master the scope of underlying securities; be familiar with the calculation of negotiable securities as margin, margin ratio and calculation of margin trading, margin available balance and calculation, and customer collateral. Monitoring; familiar with the handling of securities rights and interests during margin trading and securities lending; information disclosure and reporting on margin trading and securities lending business.

Be familiar with the types of risks and their control in the margin trading and securities lending business of securities companies; be familiar with the supervision and legal responsibilities of the margin trading and securities lending business.

Chapter 9 Bond Repurchase Transactions

Master the concept of bond pledged repurchase transactions; master the basic rules of bond pledged repurchase transactions on the stock exchange; be familiar with the national interbank market Basic rules for bond pledged repurchase transactions

Be familiar with the meaning of bond buyout repurchase transactions; be familiar with the relevant transaction rules, risk control, supervision and penalty measures for buyout repurchases in the interbank market; be familiar with Shanghai Basic rules and risk control for outright repurchase transactions on stock exchanges.

Master the clearing and settlement of my country’s bond repurchase transactions.

Chapter 10 Settlement of Securities Transactions

Be familiar with the concepts, types and main contents of securities registration.

Understand the concepts of clearing and settlement; be familiar with the connection and difference between clearing and settlement; master the principles of clearing and settlement;

Understand the relevant regulations and requirements for settlement account management.

Master the basic content of the securities transaction settlement process and each major link.

Be familiar with the types of securities transaction settlement risks and their preventive measures.