HOCHIMINH UNIVERSITY OF BANKING

FINANCIAL MARKET AND FINANCIAL INSTITUTIONS

Question 1: According to asymmetric information theory, before the issuance of a financial asset, the fact that
an issuer intentionally generates fake revenue to attract investors is called:

a. Professional risk

b. default risk

c. Adverse selection

d. Moral hazard

Question 2 In the long run, when the demand for domestic goods in the US increases sharply and the USD
interest rate is higher than the EUR interest rate, then...

a. EUR/USD fell

b. In favor of US exporters

c. EUR/USD rate increases

d. a and B are true

Question 3 Right and stock warrants are similar in which of the following characteristics?

a. Issuers are joint stock companies

b. Expiration time

c. Prices move in the same direction as the market price of the underlying commodity

d. a and C are right

Question 4 What is the relationship between the price of an American stock option and the time to expiration?

a. Proportional relationship

b. Inverse proportional relationship

c. No relationship

d. The relationship has not been determined

Question 5 What are the benefits of mutual funds?

 a. Minimize systemic risk by investing in a diversified portfolio of securities

b. Minimize unsystematic risk by investing in a diversified portfolio of securities

c. Reduce credit risk by investing in high-quality bonds

d. Minimize all risks by investing in a diversified portfolio of securities

Question 6 Discount valuable papers belong to which business of commercial banks?

a. Debt assets

b. Property has

c. Rose intermediary

d. Off-balance sheet

Question 7 What is a financial institution that cannot provide payment services?

a. Commercial Bank

b. Financial leasing companies

c. Vietnam Development Bank

d. Bank for Social Policy

Question 8 A reasonable measure of return on investment for a callable bond is:

a. Yield to Call (Yield to Call)

b. Coupon rate

c. Yield to Maturity

d. Current yield

Question 9 The subrogation principle only applies to:

a. Property insurance

b. Civil liability insurance

c. Personal insurance

d. Both a and b are correct

Question 10 Successful issuance of the following instruments increases the company's debt, except

a. Dividend preference shares

b. Guaranteed Bonds

c. Bonds

d. Negotiable

Question 11 Rights are issued by:

a. Joint Stock Company

b. Individual investors

c. Limited liability company

d. All sentences are correct.

Question 12 When the GBP/USD rate increases ie:

a. The British pound appreciates against the US dollar

b. The British pound depreciates against the US dollar

c. The US dollar appreciates against the British pound

d. In favor of UK exporters

Question 13 Which of the following measures reasonably reflects the rate of return on Treasury bills?

a. Discount yield on par (i discount)

b. Return on investment

c. Interbank market interest rate

d. Directive interest rate of the Ministry of Finance

Question 14 The function of an underwriter in the form of a contingency guarantee is: (I) Advising the issuer
on how to raise capital (II) Paying investors on behalf of the organization issued in case the issuer is unable to
pay (III) Offering and distributing securities to the public (IV) Commitment to buy all undistributed securities

a. Statements I and II

b. Statements I, III and IV

 c. Statements I, II, III, and IV

d. Statements III and IV

Question 15 What business does international payment belong to of commercial banks?

a. Debt asset business

b. Property operations have

c. Commission intermediary business

d. Other profession

Question 16 What does the term “Vnibor” mean?

a. Average interbank interest rate announced by the State Bank of Vietnam

b. Open market interest rate announced by the State Bank of Vietnam

c. Estimated real interest rates for money market published by the State Bank of Vietnam

d. Expected interest rate forecast index published by the Ministry of Finance

Question 17 A financial company is allowed to perform the following activities, except:

a. Receive deposits from individual customers

b. Receive deposits from institutional customers

c. Financial leasing

d. Bank guarantee

Question 18 Which of the following activities can a financial leasing company perform?

a. Receive personal deposits

b. Performing payment service via customer's account

c. Operating lease

d. All sentences are correct

Question 19 All of the following are true when a company issues common shares at a price above par, except:

a. Shareholder's capital increase

 b. Equity surplus increased

c. Equity increased

d. Increased debt

Question 20 Bank X lists the exchange rate as follows: THB/JPY: 3.0804 – 3.2900; THB/VND: 661.54 –
689.84. Customer sells 2 million Japanese Yen (JPY) to Bank X. The amount of VND the customer receives
is:

a. 447.900.000 VND

b. 402,151,900 VND

c. 4,076,000,000 VND

d. 8,930.676 VND

Question 1: Which of the following activities of the Vietnam Development Bank is similar to that of a
commercial bank?

a. Pay

b. Get long term deposit

c. Credit guarantee

d. All the above activities

Question 2 We have the following two statements: I. A corporate investment fund is a full legal entity; II. The
Contract Investment Fund is a full legal entity

a. Both statements are correct

b. Both statements are wrong

c. Statement I is correct, statement II is false

d. Statement I is false, statement II is correct

Question 3 The custodian bank is the bank that: I. Regularly supervise the operation of the fund management
company; II. To own a part of the assets but not more than 100% of the total assets of the investment fund; III.
Having the right to refuse to pay for illegal transactions of the investment fund; IV. To be entitled to fund
management fees from the investment fund in accordance with the law and the fund's charter; V. To be
entitled to the fund's asset management fee and supervision fee from the investment fund in accordance with
the law and the fund's charter.

a. I, III and IV

b. II, IV and V
c. I, II and III

d. I, III and V

Question 4 In insurance, what is the principle of grouping many people with the same risk into a community to
disperse the financial consequences of losses?

a. The principle of ensuring the law of the majority

b. The principle of insurable interest

c. Principle of absolute honesty

d. Compensation principles

Question 5 Incorrect statement about paying stock dividends

a. Does not change the equity of the company

b. Does not change the ownership ratio of existing shareholders

c. Increase the share ownership ratio of existing shareholders

d. Increase shareholder's capital

Question 6 The exchange rate will be affected by the following factors:

a. Import-Export balance

b. Foreign investment capital flow

c. The country's foreign exchange reserves

d. Both A, B & C

Question 7 In essence, deposit insurance is a business:

a. Property insurance

b. Life insurance

c. Liability insurance

d. Non-life insurance

Question 8 When the closing net asset value (NAV) of a closed-end fund is less than the opening NAV:

a. Investment funds are not entitled to fund management fees

b. Investment funds are entitled to fund management fees

c. Investment fund is rewarded with activity

d. Investment funds are entitled to fund management fees and operational bonuses

Question 9 Investor X has just short sold shares of company ABC. To hedge the risk of ABC stock price
fluctuations, investor X should do:
a. Buy call options

b. Buy put option

c. Sell call options

d. Sell put option

Question 10 Securities trading is:

a. Using clients' money to buy securities for the company itself

b. Securities companies buy and sell securities for themselves

c. Research and analysis to choose good stocks

d. All sentences are correct

Question 11 The order of return of capital to owners in case of bankruptcy or dissolution of a joint stock
company is:

a. Bonds – Common Stocks – Preferred Stocks

b. Preference shares – Bonds – Common shares.

c. Bonds – Preferred shares – Common shares

d. Common Stocks – Preferred Stocks – Bonds

Question 12 In the event that the company issues new shares at a price lower than the market price through the
issuance of a perpetual right, if the existing shareholders do not exercise the right, they will have to know that
they have suffered losses. which of the following?

a. The company's stock price falls

b. Shareholder ownership is reduced

c. It may not be possible to sell the right forever

d. All sentences are correct

Question 13 According to the equitization results in 2012, the ownership structure of Joint Stock Commercial
Bank for Investment and Development of Vietnam: the State holds 95.76%; Investors bought through auction
3.68% and officers and employees hold 0.56% shares. According to the plan, the State will sell some shares to
gradually reduce the ownership rate. This form of offering is called?

a. Major shareholders sell their equity to the public

b. Offering shares to the public to become a public joint stock company

c. Offering shares to the public to raise capital

d. No sentence correctly
Question 14 Which of the following organizations cannot mobilize savings deposits from the population,
except:

a. Investment bank

b. Commercial Bank

c. Securities investment company

d. Bankers Association

Question 15 Treasury bills are issued in the form of discount with a par value of VND 100,000, term of 182
days and an interest rate of 8%/365 days. The discount rate for the above bill is:

a. 7.59%

b. 8%

c. 9%

d. ten%

Question 16 What is the financial institution that belongs to the group of credit institutions?

a. Securities Company

b. Financial leasing companies

c. Insurance company

d. Investment funds

Question 17 Normally, stock warrants are the option to buy a certain quantity of ... at a specified price for a
specified period in the future.

a. Short term, stocks

b. Short term, bonds

c. Long term, stocks

d. Long term, bonds

Question 18 Which of the following statements is incorrect for the issuance of investment fund certificates to
the public?

a. The issuance of securities investment fund certificates for the first time to the public is carried out
concurrently with the procedures for applying for permission to establish a securities investment fund.

b. The issuance of securities investment fund certificates to increase capital of a securities investment fund
must be approved by the State Securities Commission.

c. The total value of fund certificates applying for permission to issue reaches at least VND 50 billion.
d. There are professional processes for fund management, internal control processes, and risk management
processes.

Question 19 According to regulations, securities company A is not allowed to invest in company B. Thus,
securities company A is not allowed to perform any of the following operations with respect to stock B?

a. Advising customers to invest in BE stock

b. BROKEN stock trading broker

c. Underwriting BO shares

d. Restructuring consulting for BE company

Question 20 A treasury bill with par value of VND 1,000,000, maturity 90 days, selling price of a bill of VND
980,000. What is the rate of return on this bond?

Select one:

a. 2.04%/year

b. 2.00%/year

c. 8.28%/year

d. 8.00%/year

Question 1: The basic difference between stock warrants (Right) and stock-based warrants (Stock Warrant):

a. Duration

b. Exercise price

c. Release purpose

d. All right

Question 2: What is the issuer of treasury bills in Vietnam?

a. The bank of Viet Nam

b. The financial

c. Hanoi Stock Exchange

d. Securities Company

Question 3: Repo of valuable papers is which of the following transactions?

Select one:

a. Short-term loans secured by valuable papers

b. Option to buy valuable papers

c. Valuable paper swap contract

d. Buy and sell with term of valuable papers

Question 4 In 2016, VTA Company only made 1 additional issue of 1,000,000 ordinary shares at the price of
20,000 VND/share and did not return capital to shareholders. The market price of VTA shares as of December
31, 2016 is VND 25,000. The charter capital of the Company as of December 31, 2016 changed:

a. 20 billion won

b. 10 billion won

c. 25 billion won

d. 35 billion won

Question 5 Which of the following is not an activity of an independent investment bank?

a. Pay

b. Accepting deposits

c. Stock repo

d. A and B are correct

Question i 6 Securities company can perform the following operations: I. Securities brokerage; II. Self-
employment; III. Underwriting securities; IV. Portfolio management; V. Securities investment consulting

a. I, II, III and IV

b. I, II, III and V

c. II, III, IV and V

d. I, II, III, IV and V

Question 7 GS Bank temporarily sells to LM Investment Fund 1000 US Treasury bills, par value of 1000
USD, term of 182 days (remaining term of bills is 91 days), at discount rate (bank discount rate) is 2.25%/year
(360 days) and commits to buy back after 7 days with repurchase interest rate of 3%/year (360 days). What is
the value of the repurchase contract when GS bank buys back the above amount of bills?

a. 994,917.09 USD

b. 994.893.02 USD

c. 989,329.71 USD

d. 989,321.81 USD

Question 8 What is the difference between American and European options in the following criteria?

a. Contract execution time

b. Commodities

c. Transaction method
d. No sentence correctly

Question 9 During the validity period of a traditional repurchase agreement, if the bond pays immediately, the
financial interest belongs to:

a. The seller of the bond in the repurchase agreement

b. Buyers of bonds in a repurchase agreement

c. Divide equally between the buyer and the seller in the repurchase contract

d. Neither party to the repurchase agreement is entitled

Question 10: Which of the following is not a stock market instrument?

a. Local government bonds

b. Stock index futures contract

c. Foreign currency forward contract

d. Warranties

Question 11: An investor buys a stock option contract when he expects the stock price:

a. Increase

b. Unchanged

c. Reduce

d. Both a, b and c are wrong

Question 12 When the market price of a stock increases more than its par value:

a. Shareholder's capital will increase

b. The company's equity will increase

c. Shareholder's capital remains unchanged

d. The company's equity surplus will increase

Question 13 When the Central Bank sells Government bonds on the open market, is it effective?

a. Tightening monetary policy

b. Loosening monetary policy

c. Tighten fiscal policy

d. Fiscal policy easing

Question 14 Know the spot rates listed at the Bank on 15/07/201X as follows: USD/VND: 22,260 – 22,330;
EUR/USD: 1.1112 – 1.1121. Customers selling EUR to buy VND, NH will apply the EUR/VND exchange
rate of:
a. 24,833

b. 24,735

c. 20.016

d. 20.095

Question 15 The market price of NSC shares on the trading day with the right to buy more shares is VND
60,000/share. The company issues additional shares according to the ratio of 4 existing shares and has the right
to buy 1 more share at the price of 10,000 VND/share. What is the theoretical value of a right?

a. 10,000 VND

b. 12,000 VND

c. 15,000 VND

d. 20,000 VND

Feedback

Question 16 Investors who purchase fund certificates have the following rights:

a. As a creditor of an investment fund

b. Guaranteed periodic dividend payments

c. Enjoy the benefits of Vietnam deposit insurance

d. All three sentences are wrong

Question 17 In Vietnam, financial institutions are not allowed to conduct securities brokerage, except:

a. Securities investment fund

b. Securities Company

c. Fund management company

d. a and C are right

Question 18 When issuing the following instruments, commercial banks must participate in deposit insurance,
except:

a. Certificate of Deposit Registered for Individuals

b. Personal demand deposits

c. Personal savings accounts

d. Accept bank slips

Question 19 When calculating the forward selling rate, apply the interest rate … for the quote currency and the
interest rate … for the base currency.
a. deposits…loans

b. loans…deposits

c. deposit…deposit

d. lend… lend

Question 20 Credit institution A redeems treasury bills with the following characteristics: par value of 10
million dong, term of 270 days, in the form of discount from credit institution B when the bill has 45 days left
to maturity. with a bond equivalent yield of 10%/year. What is the purchase price of A's bill?

a. VND 10,000,000/credit card

b. 10,608,931 VND/Bill

c. 9,311,224 VND/T-Bill

d. 9,878,214 VND/T-Bill

Question 1: Company X issues additional common shares to raise capital by providing short-term rights at the
rate of 4 rights to buy 1 share at $75, the reference price of X shares after the capital increase. is 90 USD. So
what will the price of the right be?

a. 2.5 USD

b. 3 USD

c. 3.75 USD

d. 15 USD

Question 2: Reinsurance activities:

a. The sale of an insurance contract by an insurance enterprise to an insurance enterprise other

b. Is the business performing the renewal of insurance contracts for customers

c. An insurance contract is an insurance contract between an insurance company and other insurance
companies

d. A and B are correct

Question 3: Normally in the investment portfolio of life insurance companies, which type of investment
accounts for the highest proportion?

a. Share

b. Loans

c. Bonds

d. Real estate

Question 4 When inflation in Vietnam increases sharply compared to the US, then:
a. USD/VND exchange rate will increase

b. USD/VND exchange rate will decrease

c. Beneficial for importers

d. a and C are right

Question 5 The investment fund that accepts the redemption of issued fund certificates when requested by
investors is:

a. Open-ended investment fund

b. No investment fund allows it

c. Closed-ended investment fund

d. Both a and c are correct

Question 6 Vinamilk Company (VNM) currently has 175 million common shares outstanding, the book value
per share (Book Value Per Share) is 30,000 VND, the company pays dividends in shares with rate 50%. After
this transaction, what will be the book value per share of VNM?

a. 30,000 VND

b. 20,000 VND

c. 15,000 VND

d. 10,000 VND

Question 7 What are the types of securities trading?

a. Stockbroker

b. Underwriting securities

c. Financial advice and securities investment

d. All of the above are true

Question 8 Which of the following is true about indirect finance?

a. Lenders provide loans

b. Financial intermediaries raise funds from those who have excess funds and lend them back to those
who lack them capital

c. Capital moves from the surplus side to the deficit side without going through financial intermediaries

d. Borrowers are required to have collateral

Question 9 For a Put option, when the strike price is larger than the current price, the contract fee will:

a. More expensive
b. Cheaper

c. Constant

d. Unpredictable

Question 10 Treasury shares have the following rights:

a. Dividends like preferred shareholders

b. Dividends paid after common shareholders

c. Right to vote

d. All sentences are wrong

Question 11 Which of the following operations of a securities company requires the largest legal capital?
(Does not take into account derivative-related transactions)

a. Agency

b. Self-employed

c. Issuance guarantee

d. Investment consulting

Question 12 According to current regulations, Vietnamese commercial banks are allowed to:

a. Directly trading securities

b. Direct financial leasing business

c. Direct insurance business

d. Indirectly performing securities, insurance and financial leasing activities mainly through the
establishment of a subsidiary

Question 13 Paying stock dividends is in the form of:

a. Convert capital surplus into equity

b. Transfer undistributed profits to charter capital

c. Convert capital surplus to retained earnings

d. All sentences are correct

Question 14 Investor A bought 1 American put option contract (HD) on IBM stock (CP). Contract size is 100
shares/share, exercise price is 30 USD, fee is 2 USD/share, expires in August 2016. IBM stock is trading on
the market at $26. Investors will:

a. Do not perform the contract because you are losing 200 USD/HDD

b. Profit 200 USD/contract if the contract is executed

c. Profit 400 USD/contract if the contract is executed

d. Loss of 400 USD/contract if the contract is executed

Question 15 Today Ms. B commits to buy Japanese Yen and sell US Dollar. The sale will take place in two
months, but the rate is determined today. Which of the following is true?

a. The Yen will definitely depreciate against the US dollar in the next 2 months

b. The US dollar will definitely depreciate against the yen in the next 2 months

c. Mrs. B entered into a forward contract

d. Ms. B has eliminated exchange rate risk

Question 16 Interest rates are important to financial institutions because an increase in interest rates will:

a. Lower the cost of raising capital

b. Increase the cost of raising capital

c. Increase income from liabilities

d. Sentences b and c are correct

Question 17 When a joint stock company is liquidated, bankrupt or dissolved, ordinary shareholders of the
company will be refunded the capital contribution equivalent to:

a. Par value of shares

b. The share price that the owner bought

c. Real value of shares

d. Liquidation value of shares

Question 18 When the company pays dividends in cash

a. The company's assets decrease

b. Charter capital decreased

c. Decrease in equity

d. a and C are right

Question 19 The price of a discounted commercial paper with 182 days remaining is $7,840. Indicates the cash
flow that the investor will receive if the return on investment is 4.093%/year.

a. 8,000 USD

b. 7,840 USD

c. 10,000 USD

d. 8,100 USD
Question 20 Shareholder A holds 2 shares out of 100 shares of a joint stock company. When the company
pays a stock dividend at the rate of 20%. Share holding ratio of shareholder A after additional issuance:

a. first%

b. 2%

c. 1.1%

d. 1.2%

Question 1: The reserve of valuable papers belongs to which business of commercial banks?

a. Property has

b. Debt assets

c. Rose intermediary

d. Off-balance sheet business

Question 2 Indicate the spot rate listed at the bank as follows: AUD/HKD: 7,2961/93; AUD/NZD: 1.1224/34;
USD/HKD: 7.7529/33; Interest rate (%/year) for 3-month term; USD: 2 – 2 1/4; AUD: 4 1/2 – 4 3/4; (Coins
are calculated on a 365-day year). Doma Company will collect USD after 90 days and at that time it is also
due to pay for the goods to suppliers in the Australian market. To avoid exchange rate risk, Doma company
signed a contract to sell USD with a term of 90 days with the bank. The applicable forward rate is:

a. USD/AUD: 1.0622

b. USD/AUD: 1.0626

c. AUD/USD: 0.9346

d. AUD/USD: 0.9362

Question 3 Valuable papers used as reserves of commercial banks usually include the following instruments,
except:

a. Certificates of deposit

b. Life insurance contract

c. Negotiable

d. Treasury Bills

Question 4 Insurance helps people:

a. Prevent risk

b. Protection against financial loss

c. Minimizing the risk of a mishap

d. All sentences are correct

Question 5 What is the instrument that reflects the price of the right to use credit capital?

a. Inflation rate

b. Exchange rate

c. Interest rate

d. Consumer price index

Question i 6 The investor buys a commercial paper with par value of VND 100,000, term of 182 days (with
remaining term of 30 days) for VND 99,300. What is the annual rate of return (365 days) investors expect to
receive?

a. 8.52%

b. 1.41%

c. 8.58%

d. 1.40%

Question 7 Consulting on mergers and acquisitions is one of the main operations of:

a. Commercial Bank

b. Investment bank

c. Development banks

d. Social Policy Bank

Question 8 Which of the following markets has the function of financing long-term investments such as
building factories, offices, highways, schools?

a. Currency market

b. Capital market

c. Securities listing market

d. Decentralized market

Question 9 Organization selects and decides interest rate for issuing treasury bills

a. The bank of Viet Nam

b. State Treasury

c. Securities companies

d. The commercial banks

Question 10 Services that commercial banks provide on the stock market include:

a. Issuance guarantee
b. Investment fund supervision

c. Securities Depository

d. All three sentences are correct

Question 11 Which of the following types of risk can be mitigated through diversification: I - Financial risk; II
- Market risk; III - Credit risk; IV - Interest rate risk; V - Exchange rate risk.

a. I

b. II, IV and V

c. I and III

d. II, III, IV and V

Question 12 What is a life insurance business?

a. Deposit mobilization institution

b. Credit institutions

c. Payment service providers

d. All sentences are wrong

Question 13 Coupon bonds issued by ABC company with AAA credit rating by S&P organization have a par
value of VND 1,000,000, coupon interest rate is 10%/year, remaining term is 3 years. The bond's yield to
maturity is 10%. What will the current price of the bond be?

a. 1,000,000 VND

b. 881,000 VND

c. 1,064,180 VND

d. 1,142,780 VND

Question 14 According to current regulations of Vietnam, which of the following criteria is used to distinguish
between banks and non-bank credit institutions?

a. Deposit received

b. Customers who receive deposits

c. Deposit type received

d. All three sentences are correct

Question 15 Basic differences between futures and forward contracts:

a. Futures contracts are traded on a centralized market

b. Futures contracts are calculated daily profit/loss at market price

c. When trading futures contracts, investors are required to make a deposit

d. All right

Question 16 Accident and human health insurance is called:

a. Social insurance

b. Life insurance

c. Non-life insurance

d. Civil liability insurance

Question 17 At the close of week n of the Vietnamese stock market, VN-Index reached 496.79 points, up
12.68 points compared to the closing session of the second week (n-1). This increase is equivalent to:

a. 2.55%

b. 2.62%

c. 2.48%

d. 12.68%

Question 18 Which of the following instruments does not receive dividends?

a. Warrant on stock

b. Right to pre-purchase shares (Rights)

c. Call option

d. All sentences are correct

Question 20 Vietnam Securities Investment Fund (VF1) purchased 19,000 Prudential Balanced Investment
Fund (BF1) certificates. Where is this transaction made?

a. Primary market

b. Secondary market

c. OTC Market

d. Not allowed to buy

Question 1: A joint stock company may not use the following sources to buy treasury shares, except:

a. Bank loans

b. Bonus and welfare

c. Debt capital of customers

d. Surplus equity
Question 2 Kiti Joint Stock Company has total assets of VND 100 billion and debts of VND 30 billion. The
company has issued 4 million common shares with par value of 10,000 dong, and 500,000 preferred shares
with par value of 10,000 dong. Currently the company's treasury shares are 400,000 shares and the price of
common stock is 32,000, preferred stock price is 23,000. What is the book value per common share?

a. VND 18,056/share

b. 16,250 VND/share

c. VND 14,625/share

d. 24,028 VND/share

Question i 3 Which of the following statements is incorrect?

a. The foreign exchange market is a market that deals only with foreign currencies

b. The foreign exchange market is a market that deals only with foreign currencies & international
standard gold

c. The forex market is a 24/7 trading market

d. A and B are correct

Question 4 Statement about a long position in an options contract:

a. The seller of a call option (Writing a call option)

b. Buyer of a put option

c. Seller of a put option contract (Writing a put option)

d. All is incorrect

Question 5 Banks quote the exchange rate as follows: EUR/VND: 28,258 – 28,740; USD/VND: 21,090 –
21,150. Kaka Import-Export Company sells 200,000 EUR to buy USD from the bank. The amount of USD the
company received is:

Select one:

a. 267,980 USD

b. 272,540 USD

c. 271,780 USD

d. 267,220 USD

Question 6 Investors buy newly issued certificates of deposit with par value of VND 100 million, term of 180
days for VND 96 million. Assuming expected inflation next year is 5.6%/year, what is the real interest rate on
this investment?

a. 2.85%/year
b. 8.45%/year

c. 14.05%/year

d. 6.97%/year

Question 7 GE Company issues commercial paper with a term of 270 days. This transaction belongs to: I.
Money market; II. Capital market; III. Debt instrument market; IV. Capital instrument market; V. Primary
market; BECAUSE. Secondary market.

a. I, IV and V

b. II, III and VI

c. I, III and V

d. II, III and VU

Question i 8 Indicate the spot rate listed at the bank as follows: AUD/HKD: 7,2961/93; AUD/NZD:
1.1224/34; USD/HKD: 7.7529/33. Customers buying US Dollars (USD) pay with Australian Dollars (AUD),
the exchange rate applied to customers is:

a. AUD/USD: 0.9410

b. USD/AUD: 1.0621

c. AUD/USD: 0.9414

d. USD/AUD: 1.0627

Question 9 Which of the following strategies would an investor take if he thinks the stock price will drop
significantly in the future?

a. Buy call options

b. Sell call options

c. Buy put option

d. Sentences b and c are correct

Question 10 Securities company is not allowed to perform the following operations for customers?

a. Securities depository for customers

b. Advance loan for selling securities

c. Open an account with money for customers

d. Margin trading loan

Question 11 Which of the following tools usually has the shortest duration?

a. Bonds

b. Share
c. Warranties

d. Repurchase agreement

Question 12 What is the highest decision-making authority of a securities investment fund?

a. Investor meeting

b. Fund Representative Board

c. Fund management company

d. custodian bank

Question 13 What is the term "Bancassurance"?

a. Compulsory banks to buy insurance for customer deposits

b. A credit service that banks provide exclusively to insurance companies

c. A new form of investment by insurance companies

d. Form of cooperation between insurance and banks in the distribution of insurance products
dangerous

Question 14 Company N has a profit before tax and interest of 14 billion dong. Assuming the company's
capital consists of common shares and VND80 billion in debt at an interest rate of 8%/year, the corporate
income tax rate is 40%. What is the remaining profit for common shareholders?

a. 4.56 billion VND

b. 7.60 billion VND

c. 6.40 billion VND

d. 3.04 billion VND

Question 15 Bank GS temporarily sells to LM Investment Fund 1,000 US Treasury bills, par value of USD
1,000, term of 182 days (remaining term of bills is 91 days), at a discount rate (bank discount rate) is
2.25%/year (360 days) and commits to buy back after 7 days with repurchase interest rate of 3%/year (360
days). What is the contract value when GS bank temporarily sells the above amount of bills?

a. 994,421 USD

b. 994,313 USD

c. 988,753 USD

d. 988,905 USD

Question 16 All of the following are true when a company issues shares below par value, except:

a. Shareholder's capital increase

b. Equity surplus decreases

c. The interests of existing shareholders may be affected

d. Shareholder's capital decreased

Question 17 Which of the following is most relevant to adverse selection in insurance?

a. Customers intentionally hide information about their health status when buying personal insurance
longevity.

b. Customers abuse the use of drugs and medical services in health insurance.

c. Customers do not pay attention to car maintenance after buying property insurance.

d. Customer commits suicide after purchasing life insurance.

Question 18 Enterprises with capital needs for long-term investment in fixed assets can choose which of the
following options?

a. Borrowing from commercial banks

b. Issuance of shares

c. Release Stock

d. All three sentences are correct

Question 19 Stockbrokers are allowed to perform the following tasks, except:

a. Receive orders from investors to enter into the system

b. Provide research reports

c. Buying and selling decisions on behalf of customers

d. Investment consulting

Question 20 According to the Law on Credit Institutions No. 47/2010/QH12, which of the following types of
banks are not available?

a. Commercial Bank

b. Policy Bank

c. Cooperative Bank

d. Investment bank

Question 1: Equity surplus arises when:

a. Profitable company

b. Issuance of common shares at a price higher than par value

c. Issuance of common shares at a price lower than par value

d. All cases
Question 2 Is the organization designated to pay for transactions of shares listed on the Vietnamese stock
market?

a. Bank for Investment and Development of Vietnam

b. Vietnam Development Bank

c. Stock Exchange

d. The bank of Viet Nam

Question 3 When the insured violates the principle of absolute honesty, the policy of insurance may remain in
force if the insured:

a. Accidentally did not declare

b. Hide information

c. Deliberately false declaration

d. No sentence correctly

Question i 4 Which of the following is a property of the right of foreclosure (right to buy before shares)?

a. The exercise price is usually higher than the market price of the stock

b. Open to all company owners

c. Short-term

d. Make the company raise capital

Question 5 The right to forever (Right) is:

a. The right allows an existing shareholder to buy a new number of shares at a specified price for an extended
period of time.

b. The right entitles an investor to purchase a new number of shares at a specified price, usually below the
current market price, for an extended period of time.

c. The right entitles an existing shareholder to purchase a new number of shares at a price usually
below the current market price for a short period of time.

d. All sentences are correct.

Question 6 What is the spot rate listed at the bank as follows: AUD/HKD: 7,2961/93; AUD/NZD: 1.1224/34 ;
USD/HKD: 7.7529/33. Customers who sell 100 NZD will get

a. 15.4 HKD

b. 15.38 HKD

c. 649.47 HKD

d. HKD 650.33
Question 7 The conditions for a securities company to conduct consulting, brokerage and trading in
derivatives are:

a. Charter capital, equity from 300 billion or more

b. Charter capital, equity from 600 billion or more

c. Charter capital, equity from 800 billion or more

d. Charter capital, equity from 3000 billion or more

Question 8 When calculating the forward buying rate, apply the interest rate … for the quote currency and the
interest rate … for the base currency.

a. deposits…loans

b. loans…deposits

c. deposit…deposit

d. lend…loan

Question i 9 Is there a difference between lending interest rates of financial companies and commercial banks?

a. Finance company loans are less risky

b. Loans from finance companies are more liquid

c. The loan term of the finance company is longer

d. All three sentences are wrong

Question 10 ABC Company currently has 280 million common shares outstanding, Book Value Per Share is
20,000 VND, the company pays dividends in shares at the rate of VND 20,000. 20%. After this transaction,
the book value per share of VNM will be:

a. 20,000 VND

b. 24,000 VND

c. 16,667 VND

d. 10,000 VND

Question 11 A securities company that conducts securities brokerage and trading activities at the same time
must:

a. Prioritize for customers

b. Separation of customer accounts from company accounts

c. Separation between brokerage activities and proprietary trading activities

d. All sentences are correct

Question 12 The type of option contract that allows the holder of the option to exercise the right to buy/sell the
underlying asset at any time during the validity of the contract is:

a. American style options

b. European style options

c. Dutch options

d. A and B are correct

Question 13 According to current regulations, in order to be licensed to conduct all business operations
(excluding derivatives trading), a securities company must have a minimum charter capital of:

a. 43 billion VND

b. 300 billion VND

c. 135 billion VND

d. 200 billion VND

Question 14 What is the profit for a call option buyer?

a. Unlimited profit, limited loss

b. Limited profit, infinite loss

c. Infinite profit, infinite loss

d. Limited profit, limited loss

Question 15 The following amounts are revenue from the main business activities of the insurance enterprise,
except:

a. Collection of reinsurance fees

b. Collect original insurance premium

c. Income from securities investment activities

d. Collect reinsurance transfer commission

Question 16 In Vietnam, which of the following interest rates is commonly used as the risk-free rate?

a. One-year savings interest rates of commercial banks

b. 10-year Treasury bond yield

c. Treasury bill interest rate

d. Basic interest rate announced by the State Bank of Vietnam

Question 17 Which of the following financial institutions has the function of overseeing the global financial
system?
a. International Monetary Fund (IMF)

b. European Central Bank (ECB)

c. World Bank (WB)

d. Asian Development Bank (ADB)

Question 18 Company Y issues 10,000,000 shares to increase capital, the issue price is VND 14,000/share, the
par value of the shares is VND 10,000. After release:

a. Shareholder's capital increased by 140 billion VND

b. Share capital surplus increased by 40 billion VND

c. Equity increased by 100 billion VND

d. Both b and c

Question 19 Mr. X bought 100 shares of ABC at the price of VND 44,000/share. A year later, he received a
dividend of 1,000 dong/share and ABC's stock price had dropped to 41,000 dong/share. The return on
investment in Mr. X's stock is:

a. – 6.82%

b. 2.27%

c. 9.09%

d. – 4.55%

Question 20 Normally, what would an investor's required rate of return on financial assets?

a. Greater than bank interest rate

b. Greater than Treasury bill rate

c. Greater than corporate bond yields

d. Greater than mortgage interest rate

Question 1: When the company repurchases common shares, the book value per share (Book Value per
Share), will:

a. Increase

b. Reduce

c. Constant

d. Unidentified

Question 2 When market interest rates fluctuate, income from holding which of the following financial
instruments will be directly affected?

a. Debt Instruments
b. Capital instruments

c. Derivatives

d. Conversion tool

Question 3 When market interest rates do not change, the income investors do not receive if they buy and hold
coupon bonds to maturity is:

a. Price difference

b. Contradictory

c. Dividend reinvested interest

d. Face value

Question 4 In Vietnam, which of the following forms of securities investment funds can be established?

a. Corporate investment fund

b. Contract investment fund

c. Both a and b are correct

d. A and B are wrong

Question 5 The right to resell the bonds is exercised when:

a. Market interest rates & bond prices increase

b. Market interest rates rise & bond prices fall

c. Market interest rates fall & bond prices increase

d. Market interest rates and bond values fall

Question 6 Which of the following financial institutions is an investment bank?

a. Bank for Investment and Development of Vietnam

b. Vietnam Development Bank

c. Housing Development Bank in the Mekong Delta

d. All sentences are wrong

Question 7 The S&P 500 credit rating of company X is AAA and company Y is BBB, and the maturity of the
two bonds issued by these two companies is the same. Which of the following statements is the most accurate?

a. The coupon rate of bond X is usually greater than the coupon rate of bond Y

b. The coupon rate of bond X is usually less than the coupon rate of bond Y

c. The yield to maturity of bond X is usually greater than the yield to maturity of bond Y

d. The yield to maturity of bond X is usually less than the yield to maturity of bond Y
Question 8 What is the price of one country's currency relative to another country's currency?

a. Exchange rate

b. Interest rate

c. Consumer price index

d. All sentences are wrong

Question 9 Which of the following organizations is not required to participate in deposit insurance?

a. Financial company

b. Financial leasing companies

c. State commercial banks

d. Social Policy Bank

Question 10 Multipurpose model is a model of financial institutions that performs which of the following
activities?

a. Trading currencies, securities and insurance

b. Receive deposits, co-finance loans and payments

c. Underwriting, investment management and securities trading

d. All sentences are wrong

Question 11 A securities company is only allowed to perform securities underwriting operations when it has
been allowed to perform which of the following operations?

a. Stockbroker

b. Securities Depository

c. Self-employed

d. Portfolio Management

Question 12 Call option seller:

a. Standing on the bullish view

b. Standing on a bearish view

c. Have an opinion regardless of future stock price rise or fall

d. All sentences are wrong

Question 13 An investor who sells a stock short when predicting the price of the stock will:

a. Increase

b. Unchanged
c. Reduce

d. All is incorrect

Question 14 Which of the following cases is considered an issue of securities to the public: (I) Offering for
sale through mass media, including the Internet (II) Offering for sale of securities to 100 or more investors up,
excluding professional securities investors (III) Offered to an unspecified number of investors

a. Statements I and II

b. Statement I or II

c. Statement I or II or III

d. Statements I, II and III

Question 15 Which of the following securities may be issued in conjunction with a bond or preferred stock
that entitles its holder to the right to purchase a certain number of shares of common stock at a specified price
for a specified period of time? certain period:

a. Preferred stock

b. Bonds (Bonds)

c. Stock Warrants

d. Right to pre-purchase shares (Right)

Question 16 April 27, 2017 is the last registration date to receive interest on government bonds TD1621470 on
the Hanoi Stock Exchange. According to the T+1 payment cycle, the start date of the first interest-free
transaction is:

a. April 27, 2017

b. April 26, 2017

c. April 25, 2017

d. All is incorrect

Question 17 In the offering session of 3,000 billion dong of treasury bills, the announced interest rate is
8%/year in the form of bidding volume of the State Bank, bank A bid 1,200 billion dong, knowing the total
volume. The bid is 6,000 billion VND with 10 participating organizations. What is the winning volume of
Bank A?

a. 600 billion VND

b. 1,200 billion VND

c. 300 billion VND

d. 1,500 billion VND

Question 18 When the VND appreciates against the USD, the Vietnamese people's trip to the US will:

a. Cheaper

b. More expensive

c. Unaffected

d. All sentences are wrong

Question 19 The stock market is on an uptrend, VNM stock has increased in price continuously for many
sessions. As an investment consultant, you would advise your clients to:

a. Buy VNM stock because I'm sure the price will continue to rise.

b. Selling VNM stock because I'm sure the price will drop.

c. Do not buy because the market is not stable

d. Only provide enough information for customers and let them make their own buying and selling
decisions

Question 20 All of the following are true when a company issues shares below par value, except:

a. Shareholder's capital increase

b. Equity surplus may decrease

c. The interests of existing shareholders may be affected

d. Equity surplus increased

Question 1: What is the difference between ordinary shares and dividend preference shares in the following:
(1) The life of the shares; (2) Right to vote; (3) Rate and method of dividend payment; (4) Order of division of
assets when the company is liquidated or dissolved

a. Statements II, III and IV are correct

b. Statements I, II, and III are correct

c. Statements III and IV are correct

d. Statements I, II, III and IV are correct

Question 2 According to Vietnam's regulations, which of the following financial institutions can mobilize
deposits from businesses?

a. Fund management company

b. Securities investment fund

c. Financial company

d. Securities Company

Question 3 Which of the following is the owner of a joint stock company?

a. Bondholder

b. Common shareholders

c. Shareholders holding dividend preference shares

d. Both b and c

Question 4 The exchange rate information as of August 20, 2017 is as follows: USD/VND = 22,310 – 22,470;
AUD/VND = 16,100 – 16,450; The AUD/USD rate is:

a. AUD/USD = 0.7165 – 0.7373

b. AUD/USD = 1.3562 – 1.3957

c. AUD/USD = 0.7217 – 0.7320

d. AUD/USD = 1.3857 – 1.3660

Question 5 A stock is considered overvalued if its market price…

a. Less than book value

b. Higher than book value

c. Intrinsic value lower than intrinsic value

d. Higher than intrinsic value

Question 6 Which of the following is a financial intermediary, except:

a. Financial company

b. Mutual Funds

c. Remittance company

d. Commercial Bank

Question 7 Among the sources of capital to form liabilities of commercial banks, which of the following
sources of capital is the initial basis for the formation of other sources of capital?

a. Mobilized capital

b. Loans

c. Equity

d. All three sentences are wrong

Question 8 The difference between mortgage lending of valuable papers and repurchase contract (Repo)
mainly shows in:

a. Term of the loan

b. Instruments used as collateral

c. Loan interest rate

d. Legal right to sell collateral

Question 9 Traditional business of investment banking:

a. Get long term deposit

b. Loan for medium and long term projects

c. Underwriting securities

d. Stockbroker

Question 10 Which of the following is not true about futures contracts?

a. Investors are required to deliver the goods at the expiration of the contract

b. Investors must deposit trading

c. The contract is calculated daily at the market price

d. Daily profit/loss payment

Question 11 At the time of conversion, if all convertible bonds are converted into common shares by the
bondholder, then:

a. Earnings per common share (EPS) increase

b. Earnings per common share (EPS) is not affected

c. Earnings per common share (EPS) declines

d. All is incorrect

Question 12 In the bidding session to offer 500 billion dong of Treasury bills in the form of competitive
interest rate bidding (considering bids at unit price & without direct interest), there were 5 bidders with the
volume and interest The corresponding interest rates are as follows: A (200 billion dong - 8%/year), B (400
billion dong - 8.3%/year), C (100 billion dong - 7.9%/year), D (100 billion dong/year) VND - 8.3%/year), E
(50 billion VND - 8.2%/year). What is D's winning interest rate and volume?

a. 8.3% - 120 billion dong

b. 8.3% - 30 billion VND

c. 8.3% - 100 billion dong

d. 7.9% - 30 billion VND

Question 13 Underwriting means that the underwriter helps the issuer to perform the following tasks, except:

a. Carry out the procedures before the securities offering

b. Accept to buy part or all of the issuer's securities for resale

c. Ensure the solvency of the issuer

d. Distributing securities to issuers

Question 14 The company issues redeemable bonds with a fixed interest rate of 12%/year. In which of the
following cases will the company buy back the above bonds?

a. The company's profit after tax increased by 12%

b. The company's profit after tax decreased by 12%

c. Market interest rates rise to 16%

d. Market interest rate drops to 8%

Question 15 A currency option contract between Vietcombank and customer X. X must pay an option
premium for:

a. Broker whether to execute the contract or not

b. Vietcombank only when X performs the contract

c. Broker when X executes the contract

d. Vietcombank whether X performs the contract or not

Question 16 The guarantee business of a commercial bank belongs to:

a. Debt asset business

b. Property operations have

c. Off-balance sheet operations (commission intermediary)

d. a and C are right

Question 17 Which of the following types of transactions does the central bank not conduct?

a. Issuance of banknotes

b. Issuance of treasury bills

c. Issuance of bills to stabilize the currency

d. Loan payment support

Question 18 The insurance enterprise's premium is:

a. Profits of insurance enterprises

b. Indebtedness of the insurance company to the customer

c. Amount owed by the customer to the insurance company

d. All is incorrect
Question 19 Know the spot rates listed at the Bank on 15/07/201X as follows: USD/VND: 22,260 – 22,330;
USD/CHF: 0.9798 – 0.9805. Customers selling CHF to buy VND, NH will apply the exchange rate of
CHF/VND as:

a. 22.703

b. 22.719

c. 25.227

d. 22.790

Question 20 When receiving orders from customers, a securities company is not required to:

a. Check the money

b. Check the legitimacy of the order slip

c. Check the contract to open a trading account between the client and the company

d. Check customer's stock

Question 1: For bonds sold at a higher than par value:

a. Coupon Yield = Current Yield = Yield to Maturity

b. Coupon yield < Current Yield < Yield to maturity

c. Coupon yield > Current Yield > Yield to maturity

d. There is no relationship between interest rates

Question 2 Financial leasing companies in Vietnam are not allowed to provide credit for which of the
following assets?

a. Factory

b. Machines

c. Device

d. Transportation

Question 3 The buyer of a call option on a stock will:

a. Pay a fee, have the right to sell shares at a certain price

b. Receive fees, have the right to buy shares at a certain price

c. Pay a fee, have the right to buy shares at a certain price

d. Receive fees, have the right to sell shares at a certain price

Question 4 Which of the following statements is true?

a. The primary market provides liquidity for commodities

b. The secondary market provides new goods to the market

c. The secondary market is more important than the primary market

d. Commodities traded on these two markets are the same

Question 5 Two coupon bonds have the same face value and nominal interest rate. However, bond A has a
term of 10 years and bond B has a term of 5 years. The most accurate statement is:

a. Bond A has a greater reinvestment risk than Bond B

b. Bond A has a smaller rollover risk than Bond B

c. Bond A has the same rollover risk as Bond B

d. The reinvestment risk of the two bonds cannot be compared

Question 6 Which of the following sources of life insurance companies are allowed to use for investment
activities?

a. Idle insurance risk reserve

b. Equity

c. Loans

d. A and B are correct

Question 7 Based on the duration, the financial market structure is divided into:

a. Money market and capital market

b. Capital market and stock market

c. Money market and open market

d. Primary Market & secondary market

Question 8 The foreign exchange market is:

a. Virtual financial market

b. Investors always lose money in this market

c. Only organizations are allowed to participate

d. All three sentences are wrong

Question 9 The Duration of a bond will increase when:

a. Yields to maturity increase

b. Coupon interest rate increase

c. Maturity increased

d. Current interest rates increase

Question 10 Paying stock dividends will:

a. Increase the benefits according to the proportion of shareholders in the company

b. Do not change the percentage of shareholders' interests in the company

c. Reduce the benefits according to the proportion of shareholders in the company

d. No sentence correctly

Question 11 A bond with a high coupon rate that is sold for more than face value comes with a call to par
value. Who is the beneficiary of this withdrawal condition?

a. Bond holders

b. Publisher

c. Brokers

d. Guarantor

Question 12 A share option (Right) is an option... to buy a certain quantity of... at a specified price for a
specified period in the future.

a. Short term, common stock

b. Short term, bonds

c. Long term, common stock

d. Long term, bonds

Question 13 Know the spot rates quoted at the bank on 25/10/20xx as follows: AUD/USD: 0.9411 – 0.9414;
USD/HKD: 7.7529 – 7.7533; EUR/USD: 1.3531 – 1.3535; USD/VND: 21,100 – 21,170. Customers want to
know the AUD/EUR exchange rate, the bank will announce the exchange rate as:

a. 0.6955 – 0.6956

b. 1.4373 – 1.4382

c. 0.6953 – 0.6957

d. 1.4378 – 1.4379

Question 14 What type of risk is unsystematic risk?

a. Risks can be eliminated through diversification

b. Risks that cannot be eliminated through diversification

c. Not related to investment diversification

d. Risks related to the macroeconomic environment

Question 15 Common shares and bonds have common characteristics:

a. Enjoy pre-determined income

b. Enjoy non-fixed income

c. Refund on due date

d. All is incorrect

Question 16 The exchange rate between US dollar and Vietnamese dong (USD/VND) on June 28, 2017 at
VCB is 22,705 VND. In this case, which currency is the base currency and which is the quote currency?

a. USD is the quote currency, VND is the base currency

b. VND is the quote currency, USD is the base currency

c. Indistinguishable in this case

d. Depending on the quote method to name

Question 17 Which of the following statements is true regarding securities brokerage, except:

a. Brokers must have a practicing certificate.

b. Brokers of securities companies are only allowed to open securities trading accounts at the securities
company where they practice.

c. When a customer places an order online, this order will run directly to the Stock Exchange, not
through a securities company.

d. Securities companies must give priority to the execution of customer orders before self-trading orders.

Question 18 Who can buy Vietnam Treasury bills issued by direct method:

a. The commercial banks

b. Credit institutions

c. State bank

d. Vietnam Social Insurance

Question 19 The forms of dividend payment of a joint stock company can be:

a. Cash dividends

b. Stock dividends

c. Dividends in assets

d. All three statements are correct

Question 20 For an American option, what is the time (time) to exercise the contract?

a. Right at the end of the contract

b. From the date of purchase of the rights to the date of contract termination
c. Depends on the seller

d. Depends on the buyer