Only 31% of the candidates were able to pass the qualification test, the Bank of Russia reported. Some applicants were able to pass the exam only the fourth time. The most difficult were the questions about leveraged trading.
The Bank of Russia spoke about the results of the first year of operation of the system for determining investor ratings. It involves passing knowledge tests of complex financial instruments.
From September 2021 to September 2022, 6.13 million people participated in the tests. Only 31% of them (1.92 million) were able to pass the exam successfully. Of those who passed the test, 55% did so the first time, but one in four candidates for “qualified” status had to make four or more attempts, the regulator said.
According to the Central Bank, the most difficult questions for examinees turned out to be questions about leveraged transactions, unlisted Russian stocks, as well as shares of foreign companies.
The Bank of Russia plans to ease ownership requirements for qualifying investor status. The threshold can be lowered to 15-20 million rubles, although earlier the regulator insisted on the amount of 30 million rubles.
Author:
Kirill Bilyk
Source: RB
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