Free Taiwan Securities & Futures practice questions
4 sample questions · Securities Specialist · answers & explanations
These come from the Securities Specialist (普業) bank and are exactly what a non-premium user previews in the app — the first two questions of each of the two parts, securities law and practice, and investment and financial analysis. Tap an answer to check yourself and read the explanation. The full app carries 1,500 original bilingual questions and mock tests across all four SFI qualification tests: Specialist, Senior Specialist, Futures, and SITE.
Under the applicable rules, the dedicated compliance officer for anti-money laundering and countering the financing of terrorism at a securities and futures enterprise must periodically report to the board of directors and the supervisors (or the audit committee). What is the statutory minimum reporting frequency?
Why: Under the rules governing the internal control and audit of anti-money laundering and countering the financing of terrorism at securities and futures enterprises, the dedicated compliance officer must, in the ordinary course, report to the board of directors and the supervisors (or the audit committee) at least once every six months; if a material violation of law is discovered, the officer must report to the board of directors and the supervisors immediately (without waiting for the periodic cycle). The minimum periodic frequency is therefore once every six months.
Regarding the allocation of responsibility for the internal control system for anti-money laundering and countering the financing of terrorism at a securities and futures enterprise, which of the following statements is correct?
Why: Under the rules, the internal control system for anti-money laundering and countering the financing of terrorism must be approved by the board of directors, and the board of directors bears ultimate responsibility for ensuring that an appropriate and effective anti-money laundering and countering the financing of terrorism internal control system is established and maintained; the board of directors and senior management must also understand the relevant risks and foster an organizational culture that takes anti-money laundering seriously. The dedicated compliance officer, the chief internal auditor, and the general manager each have their own division of duties, but ultimate responsibility remains with the board of directors.
A product has a selling price of 100 dollars per unit and a variable cost per unit of 60 dollars. What is the unit contribution margin of this product?
Why: Unit contribution margin = selling price − variable cost per unit = 100 − 60 = 40 dollars. 60 dollars is the variable cost per unit itself; 160 dollars is selling price plus variable cost (erroneous addition); 100 dollars is the selling price.
A product has a selling price of 200 dollars per unit and a variable cost per unit of 120 dollars. What is the contribution margin ratio of this product?
Why: Contribution margin ratio = unit contribution margin ÷ selling price = (200 − 120) ÷ 200 = 80 ÷ 200 = 40%. 60% is the variable cost ratio (120÷200); 80% treats the unit contribution margin (80) as a percentage by mistake; 33.3% is the erroneous calculation of (200−120)÷variable cost per unit.
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Written from the current Securities and Exchange Act, Futures Trading Act and SITE regulations, with the four tests sharing subject banks so overlapping papers are not studied twice.
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