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Japan Securities Dealers Association

About JSDA

Sales Representative Qualification Exam

An exam required to become a registered sales representative of Association Members

Class-1 sales representative qualification will be granted by passing the Class-1 sales representative qualification exam, and Class-2 sales representative qualification will be granted by passing the Class-2 sales representative qualification exam.
Class-1 sales representative can handle derivatives transactions and margin transactions, etc. in addition to the products that can be handled by a Class-2 sales representative.

 

1. Contents and Method of the Exam

  Class-1 Sales Representative
Qualification Exam		 Class-2 Sales Representative
Qualification Exam
Subjects
Covered		 [Laws, Regulations and Various Rules]
  • Financial Instruments and Exchange Act
  • Laws Relating to Solicitation and Sales of Financial Instruments
  • Articles of Association and Various Rules of JSDA
  • Articles of Incorporation and Various Regulations of the Exchanges
[Product Business]
  • Equity Business
  • Bond Business
  • Investment Trusts and Investment Corporations Business
    * Including the “Act on Investment Trusts and Investment Corporations.”
  • Incidental Businesses
  • Derivatives Transactions (only for Class-1 sales representative qualification exam)
[Related Subjects]
  • Basic Knowledge Concerning Securities Markets
  • Stock Company Law in General
  • Basic Knowledge of Economics, Finance and Fiscal Policy
  • Financial Statements and Company Analysis
  • Taxation of Securities Transactions
  • Sales Operations
* From April 1, 2016, “Futures Transactions,” “Options Transactions,” and “Specified OTC Derivatives Transactions, etc.” are consolidated as “Derivatives Transactions.”
Range of
Questions
  1. Practical knowledge and expertise concerning the subjects as stated above
  2. Basic and important matters concerning compliance
  1. Basic knowledge concerning the subjects as stated above
    (Questions regarding basic knowledge concerning margin transactions and derivatives transactions may appear in the Class-2 examination, being included in related topics such as “Equity Business” and “Bond Business,” even though these activities are excluded from the scope of activities that a Class-2 Sales Representative may conduct.)
  2. Same as left
(Note) In case there is change in the related laws, regulations and various rules, etc., the questions will be based on such new system.
Format of
Questions		 “True or false” and multiple-choice questions (selection of terms, or calculation), with answers to be entered using the PC.
Number of
Questions		 Total of 100 questions
(70 true or false; and 30 multiple-choice questions (from 5 choices))		 Total of 70 questions
(50 true or false; and 20 multiple-choice questions (from 5 choices))
Scores for true or false questions are 2 points per question; and scores for multiple-choice questions are 10 points per question (5 points for each choice in case of choosing 2 answers).
Examination
Time		 160 minutes 120 minutes
Grading A score of 70% (308 points out of perfect 440 points) or higher is a passing score. A score of 70% (210 points out of perfect 300 points) or higher is a passing score.
Examination
Date		 In principle, every day between Monday and Friday (excluding public holidays and New Year period). However, please confirm at the time of application, as this will differ by venue.
Examination
Sites		 Examination sites for English examinations are limited to those located in the 23 Wards of Tokyo (Please confirm with the Human Resources Department, etc. of the Company (limited to Association Members) you belong to)
Points of
Notice
  1. While taking the English examination, the question in Japanese can be displayed by operating the buttons on the screen.
  2. A person who has taken and failed the examination may not take any sales representatives, etc. qualification exam for a period of 30 days from the day following the date of the original examination.
(Note) If it becomes clear that an examination has been taken in violation of this rule, the qualification will be canceled even if the person has passed the examination.

 

2. Application

Please make an application for English examination through Human Resources Department, etc. of the Company (limited to Association Members) you belong to.

 

3. Checklist for the Day of Examination

  1. Some venues may be closed due to bad weather such as typhoons.
    Examinees (or trainees) should visit the Prometric website （【Top】―【Information】ー【Test /venue related】） to see whether a venue is open or not before going to the venue on the examination (or training) day. 　　　　　　　　　　　　　　　（URL:https://www.prometric-jp.com/en/news/archives/category/news-tab-test-panel)　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　※ It should be noted that the examination sites and the examination administrator (Prometric) do not answer whether each examination will be carried out. Please do not make inquiry to each examination site directly as well.
  2. Arrival at the Examination Site
    Instructions related to the examination will be given prior to the commencement of the Examination.
    Therefore, all applicants should arrive at the examination site by the prescribed examination time (at least 15 minutes before the fixed start of the examination) (If you do not arrive at the examination site 15 minutes prior to the fixed examination time, you will not be permitted to take the examination regardless of the reason).
  3. What to bring
    Bring the following on the day of examination:
    • Personal identification document (refer to “4. Personal identification documents” for details)
  4. Personal identification documents
    The identity of the examinee will be verified at the reception desk of the examination site.
    Examinees must bring one of the following identification documents. If you do not bring such an identification document, you will not be permitted to take the examination.
    ◎ Personal identification documents effective by itself
    • Driver’s license (temporary license, driver’s license issued outside Japan, and driver’s license with no indication stating “driver’s license” are not allowed)
    • Certificate of driving history (issued on or after April 1, 2012)
    • Individual Number Card (“Notification card” for notifying “My Number” is not allowed)
    • Basic Resident Registration Card (with a photograph affixed thereto)
    • Passport
    • Residence card or special permanent resident certificate (“alien registration certificate” is only effective if it is recognized as “residence card” or “special permanent resident certificate)

    ◎ Personal identification documents that are effective in combination

    * Confirm with the Human Resources Department, etc. of the Company (limited to Association Members) you belong to for points to note on personal identification documents that are effective in combination.

    • Health insurance card and photo-bearing employee identification card (indicating the name or logo of the Association Member)
    • Health insurance card and personal identification statement designated by JSDA (bearing a photo)

    (Notes) If there is a discrepancy between the information entered at the time of application and the information contained on the personal identification documentation regarding the name of the examinee, the relevant individual will not be permitted to take the examination.

  5. Other
    No reference materials such as texts or notes may be used during the examination. Examinees must leave their personal belongings in a locker at the examination site as no personal belongings are allowed in the test room.
    Examinees may use the calculator function displayed on the PC screen in order to solve calculation questions. If you need to take notes, please use the note pad and pen provided at the examination venue. The note pad, etc. will be collected by the proctor at the examination site after the examination has been completed.
    If you are taking the examination for the first time, please download the examination procedures from the Prometric, K.K. website to familiarize yourself with the procedure in advance.

    * Please note that all clocks (including watches) have been banned in the test room from January 5, 2016 (leave them with other personal belongings in the locker).

4. Notification of Examination Results

English examination results (pass or fail) will be given by a notice to the Human Resources Department, etc. of the Company (limited to Association Members) you belong to. Please confirm with the person in charge.
The JSDA will not respond to any inquiries on examination questions and scores, etc.

 

5. Cancellation of Passing, etc.

A person who uses or attempts to use fraudulent means to take the examination may have the examination halted or the passing score canceled.