It is registered
Ministry of Justice
Russian Federation
On May 26, 2016 No. 42291
of April 27, 2016 No. 4005-U
About approval of the program of basic qualification examination for specialists of the financial market
1. According to Item 14 of article 42 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 27, Art. 3880; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015, No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001; No. 29, Art. 4348, Art. 4349, Art. 4357; 2016, No. 1, the Art. 81), Item 2 of article 55 of the Federal Law of November 29, 2001 No. 156-FZ "About investment funds" (The Russian Federation Code, 2001, No. 49, Art. 4562; 2004, No. 27, Art. 2711; 2006, No. 17, Art. 1780; 2007, No. 50, Art. 6247; 2008, No. 30, Art. 3616; 2009, No. 48, Art. 5731; 2010, No. 17, Art. 1988; No. 31, Art. 4193; 2011, No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 31, Art. 4334; 2013, No. 26, Art. 3207; No. 27, Art. 3477; No. 30, Art. 4084; No. 51, Art. 6695, Art. 6699; 2014, No. 11, Art. 1098; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, No. 1, the Art. 47), the subitem 13 of Item 3 of article 34 of the Federal Law of May 7, 1998 No. 75-FZ "About non-state pension funds" (The Russian Federation Code, 1998, No. 19, Art. 2071; 2001, No. 7, Art. 623; 2002, No. 12, Art. 1093; 2003, No. 2, Art. 166; 2004, No. 49, Art. 4854; 2005, No. 19, Art. 1755; 2006, No. 43, Art. 4412; 2007, No. 50, Art. 6247; 2008, No. 18, Art. 1942; No. 30, Art. 3616; 2009, No. 29, Art. 3619; No. 48, Art. 5731; No. 52, Art. 6450, Art. 6454; 2010, No. 17, Art. 1988; No. 31, Art. 4196; 2011, No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7036, Art. 7037, Art. 7040, Art. 7061; 2012, No. 31, Art. 4322; No. 47, Art. 6391; No. 50, Art. 6965, Art. 6966; 2013, No. 19, Art. 2326; No. 30, Art. 4044, Art. 4084; No. 49, Art. 6352; No. 52, Art. 6975; 2014, No. 11, Art. 1098; No. 30, Art. 4219; 2015, No. 27, Art. 3958, Art. 4001; No. 29, Art. 4357; 2016, No. 1, the Art. 41, the Art. 47), Item 18 of part 1 of article 25 of the Federal Law of February 7, 2011 No. 7-FZ "About clearing, clearing activities and the central partner" (The Russian Federation Code, 2011, No. 7, Art. 904; No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 53, Art. 7607; 2013, No. 30, Art. 4084; 2014, No. 11, Art. 1098; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, No. 1, the Art. 23, the Art. 47), Item 17 of part 1 of article 25 of the Federal Law of November 21, 2011 No. 325-FZ "About the organized biddings" (The Russian Federation Code, 2011, No. 48, Art. 6726; 2012, No. 53, Art. 7607; 2013, No. 30, Art. 4084; No. 51, Art. 6699; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, 1, the Art. 47, the Art. 48) the Bank of Russia approves No. the program of basic qualification examination for specialists of the financial market (appendix to this Instruction).
2. This Instruction becomes effective after 10 days after day of its official publication.
3. From the date of entry into force of this Instruction not to apply the order of the Federal Service for Financial Markets of April 3, 2012 No. 12-23/pz-n "About approval of the Program of basic qualification examination for specialists of the financial market", No. 24202 registered by the Ministry of Justice of the Russian Federation on May 17, 2012 (The bulletin of regulations of federal executive bodies of October 1, 2012 No. 40).
Chairman of the Central bank of the Russian Federation
E. S. Nabiullina
Appendix
to the Instruction of the Bank of Russia of April 27, 2016 No. 4005-U "About approval of the program of basic qualification examination for specialists of the financial market"
Financial market: concept, functions. Structure of the financial market. The financial market as the mechanism providing transformation of savings in investment. Operation of the law of the demand and supply in the financial market. Investments and speculation.
Security market as sector of the financial market: concept and functions, classification. Structure of the security market. Securitization: concept and types.
Concept and properties of securities. Classification of securities.
Share. Ordinary and preferred shares. Types of preferred shares. Cost types (price) of the share: nominal, issued (placement price), market, balance sheet. Income types according to shares (dividends and growth of share market value). Payment methods of dividends (money, other property).
Instruments of collective investment. Share of joint-stock investment fund. Investment share of mutual investment fund.
Bond. Corporate and government (municipal) bonds. Kinds of corporate bonds. Convertible bonds. Exchange bonds. Commercial bonds. Income types on the bond (percent (coupon), discount, market value). Payment methods in case of repayment (money, other property). Unsecured and secured bonds. Methods of ensuring obligation fulfillment on bonds. Requirements to providing obligations. Bonds with mortgage providing with monetary claims. Bonds which issuers are specialized societies. Program of bonds. Representative of bondholders and general meeting of bondholders.
Clearing participation certificates.
Russian depositary receipts.
Mortgage securities. Concept of mortgage covering. Mortgage. Bonds with mortgage covering. Hypothecation certificates of participation.
Bill of exchange and bill transactions. Idle time and bill of exchange. Obligatory details and the established forms of the bill of exchange. Rules of creation, transfer and collection of the promissory note. Rules of creation, acceptance, transfer and collection of bill of exchange. Aval. Payment on the bill of exchange. Protest of the bill of exchange. Collection and domiciliation of bills of exchange.
Deposit (savings) certificate. Check.
Tovarorasporyaditelny securities: simple and double warehouse certificates, bill of lading.
Option of the issuer. The rights certified by the option of the issuer and procedure of these rights.
Concept and agreement types, being derivative financial instruments. Types of basic assets of derivative financial instruments.
License types on implementation of professional activity in the security market. Requirements imposed to professional participants of the security market. Requirements to founders (participants) of professional participants of the security market. Requirements to workers of professional participants of the security market. Restrictions for combination of types of professional activity in the security market and other activities.
Concept of broker activities in the security market. Rules of implementation of broker activities. Features of implementation of activities of the client broker and the broker performing activities only for the conclusion of the agreements which are derivative financial instruments which basic asset are the goods.
Activities report of the broker.
Concept of dealer activities in the security market. Rules of implementation of dealer activities.
Concept of activities Forex dealer, features of its implementation. Requirements to the organizations performing activities Forex dealer including regarding protection of the rights of clients.
Concept of activities for management of securities. Requirements to activities for management of securities. Activities report of the managing director.
Concept and legal basis of implementation of activities for maintaining the register of owners of securities. Functions of the professional participant of the security market performing activities for maintaining the register. Concept of the register of owners of securities. Types of the accounts opened by holders of the register. Concept transfer agent, its rights and obligation.
Concept of depository activity. Procedure of depository activity. Types of accounts which can open depositaries. Rights and obligations of depositary. Interdepositary relations. Concept of the nominee holder. Fundamental obligations of the nominee holder concerning securities which holder he is. Realization of shareholder rights with participation of the nominee holder (the cascade principle), cases of obligatory and optional participation of the nominee holder. Implementation of payments through the nominee holder. Vote of the nominee holder of securities on general meeting of security holders. Central depositary. Settlement depositary. Activities report of depositary.
Concept of the organized biddings. Rights and obligations of organizers of trade. Requirements to organizers of trade. Types of organizers of trade and their characteristic. Bidders.
Concept of clearing. Clearing types. Clearing organization, requirements to it. Participants of clearing. Clearing implementation. The central partner and his role in the financial market. Organizer of commodity deliveries and its function. Methods of ensuring obligation fulfillment. Completion guarantees of calculations following the results of clearing.
Features of creation, activities, reorganization, liquidation and legal status of specialized society. Types of specialized societies and feature of their activities. Managing company of specialized society.
Concept of the skilled investor. Skilled investors by law. Requirements to which there shall correspond physical persons and legal entities for recognition by their skilled investors. The tools intended for skilled investors. Effects of making by professional participants of the security market of transactions on acquisition of the securities and derivative financial instruments intended for skilled investors at the expense of person which is not the skilled investor.
Concept of issue of securities. Issuer, release and additional release of issued securities.
Decision on release (additional release) of issued securities: content and approval procedure. Prospectus of securities: concept and content, preparation and registration, approval procedure and signings. Responsibility of persons which signed the prospectus of securities. Decision on placement of securities: content and procedure for acceptance.
Release order of registration (additional release) of issued securities. Necessary documents. The bases for refusal in state registration of release (additional release) of issued securities. Concept and methods of placement of issued securities.
Modification of the decision on release (additional release) of securities and (or) prospectus of securities. Modification of parts of prolongation of term of placement and (or) regarding conditions and procedure for placement of securities. Modification of parts of replacement of bond issuing institution by its reorganization.
The privilege of acquisition of securities of release (additional release) in the course of their placement. Features of placement of issued securities by the Russian issuers outside the Russian Federation. Report on release results (additional release) of issued securities and procedure for its state registration. Bases of submission to registering body of the notification on release results (additional release) of issued securities. Non-stationing of securities of release (additional release). Refusal of placement of securities of release (additional release).
Features of issue of exchange and commercial bonds.
Concept and effects of unfair emission. Issue suspension, release recognition (additional release) of issued securities cancelled or invalid.
Forms of the certificate of the property right to securities. Transition of the rights to securities and emergence of encumbrance of security.
Forms of the certificate of the property right to securities. Transition of the rights to securities and emergence of encumbrance of security. Implementation of the rights on securities. Equity property on securities. Certificate of issued security. Accounting of the rights to securities. Systems of accounting of securities: accounting by the registrar and accounting in depositary system.
Concept of security circulation. Restrictions for security circulation.
Rules of admission to trading. Asset types, addressing at the organized biddings, and features of their admission to the organized biddings. Exchange goods (tools). Transactions with precious metals. Tools of the money market. Repo operations. Currency transactions in the security market.
Listing (delisting) of securities. Quoted lists.
Types of stock exchange transactions. Long, short transactions. Settlement and deliverable transactions, cash and forward transactions. Marginal transactions. Stages of making and execution of stock exchange transaction.
Exchange session. Modes of the biddings. Stock exchange quotation. Stock exchange indexes.
Market makers and their role at the organized biddings.
Methods of the conclusion of security transactions. Traditional and alternative trade systems. Auction and dealer market. Types of auctions.
Systems of indication prices (quotations).
Arbitrageurs, hedgers, speculators. Types of arbitration.
General characteristic and functions of the market of derivative financial instruments. Participants of the market of derivative financial instruments. Features of carrying out the organized biddings by derivative financial instruments. Requirements to specifications of derivative financial instruments. Features of transactions with derivative financial instruments in the curb market. Repozitary and its role in the market of derivatives financial the tool. The principles of pricing in the market of derivative financial instruments. Standardization of derivative financial instruments. Liquidating netting.
The bases of emergence of obligation on disclosure of information in the security market. Methods of disclosure of information. Information disclosure forms issuers of securities: quarterly report, messages on essential facts, consolidated financial statements. Other disclosure forms of information issuers. Release of issuers from obligation on disclosure of information in the security market. Accredited news agencies. Sources of information on issuers and their issued securities. Center of corporate information.
Concept of collective investment. Institutes of collective investment in the Russian market. Property management of institutes of collective investment, responsibility of institutes of collective investment to investors.
Concept of investment policy and investment declaration. Contents of the investment declaration: the list of investment objects, target asset allocation, variation from target asset allocation and the target objective of risk, restriction on liquidity.
Functions and restrictions of activities of managing companies. Requirements to managing company, to founders (participants) of managing company. Responsibility of managing company. Obligations of managing company.
Features of legal status of mutual investment fund. Difference of mutual investment fund from joint-stock investment fund. Types of mutual investment funds. The controling mechanism the property constituting mutual investment fund. Activities of investment fund. Investment funds for qualified and for unskilled investors. Restrictions for transactions with property of investment funds, restrictions on structure and structure of assets of investment funds. Concept of net assets of mutual investment fund.
Functions and restrictions of activities of non-state pension fund. The basic concepts used in activities of non-state pension funds. Obligations of non-state pension fund. Schemes with defined benefits and schemes with the established fees. Voluntary provision of pensions and mandatory pension insurance. Investment of funds of pension reserves and investment of means of pension accruals.
Functions and restrictions of activities of specialized depositaries. Requirements to specialized depositary. Obligations of specialized depositary. Termination of the contract with specialized depositary.
Disclosure of information by participants of the market of collective investments. Requirements to content of the distributed, provided or disclosed information. Information provided upon the demand of interested persons. Information which is subject to disclosure.
Main objectives of the state borrowings in the financial market. Public debt: concept, forming mechanism, structure, covering sources. External and internal public debt. Forms and terms of debt obligations of the Russian Federation. System and methods of management of public debt. State and municipal guarantees.
Concept of central government budget deficit. Methods of covering of central government budget deficit.
Ruble market government securities. Bonds of federal loans (further - federal loan bond). Federal loan bond types. Government savings bonds. The government securities nominated in foreign currency. Bonds of external bonded loan.
General conditions of issue and address state and municipal securities: content and procedure for acceptance. Conditions of issue and address state and municipal securities: content and procedure for acceptance.
Release and address of government securities. Principles of the organization and main participants of the market of government securities. Role and functions of the Ministry of Finance of the Russian Federation as issuer in the market of government securities.
Forms of primary placement of federal loan bond: auctions for primary placement, placement for the closed subscription, additional placement. Mechanism of the organization and holding auctions for primary placement of federal loan bond.
Early redemption of government bonds. Exchange and servicing of releases of government securities.
Mechanism of the secondary address of government securities. Transactions of purchase and sale with government securities. Repo operations with government securities: essence, versions and mechanism of implementation. Mortgage transactions with government securities.
Participants of the relations regulated by the civil legislation. Business activity. Participation of the Russian citizens and legal entities in business activity. Features of participation of foreign citizens and legal entities (including foreign participants of the financial market) in legal relationship in the Russian market. Civil legislation and rules of international law. Bases of emergence of the civil laws and obligations. Legal capacity and capacity to act of physical person.
Concept of the legal entity. Concept of the personal law of the legal entity. Commercial corporate bodies. Basic provisions about the authorized capital of economic society. Non-profit corporate bodies. Bodies of the legal entity. Name, location and address of the legal entity. Constituent documents of the legal entity. Affiliation. Decisions of meetings. Separate divisions of the legal entity. Responsibility of the legal entity. Responsibility of person, representative to act on behalf of the legal entity, members of collegiate organs of the legal entity and persons determining actions of the legal entity.
Features of management and control in economic societies. Corporate agreement. Legal capacity of the legal entity.
Immovable and movable things. State registration of the rights to property.
Concept of the transaction. Types of transactions. Form of transactions and effect of its non-compliance. Legally significant messages. State registration of transactions. Debatable and insignificant transactions. Imaginary and colourable transactions. Invalidity of the transaction. General provisions about effects of invalidity of the transaction. Effects of violation by the representative or body of the legal entity of conditions of the implementation of powers or interests represented or interests of the legal entity. Concept of limitation period. General and special terms of limitation period.
The bases of actions on behalf of other person (represented). Consequence in law in the absence of powers and in case of abuse of authority. Commercial representation. Power of attorney. Term of the power of attorney. Retrust. Termination of the power of attorney. Effects of the termination of the power of attorney.
Content of the property right. Persons of law of property. Property right of citizens and legal entities. Right of state-owned property. The corporeal rights of persons who are not owners (including the right of economic maintaining by property and the right of operational management by property).
Bases of acquisition and termination of the property right. Concept and bases of emergence of common property. Determination of shares in the right of equity property. The order the property which is in equity property. Ownership and use of the property which is in equity property. Ownership, use and the order of the property which is in joint property.
Concept of the obligation, basis of emergence of the obligation. Obligation fulfillment. Joint liabilities (requirements). Counter obligation fulfillment. Legal responsibility for non-execution of obligations. Subsidiary and joint liability. Methods of ensuring obligation fulfillment. Bases, procedure and effects of transition of the rights of the creditor to other person. Bases, procedure and effects of transfer of debt. Requirement concession conditions. Requirement concession form. Discharge bases, including discharge by offsetting and innovation.
Concept and terms of the contract. Determination of terms of the contract the peremptory rules established in regulatory legal acts; application of residuary rules. Agreement of accession. The framework agreement. Option for the conclusion of the agreement. Option agreement. Basic provisions about the conclusion of the agreement.
Offer. Acceptance.
Moment of the conclusion of the agreement. Duration of the agreement.
Bases of change and agreement cancelation.
Basic provisions about joint-stock company. Public and non-public joint-stock companies: main differences of legal regulation. Size of the minimum authorized capital of society. Procedure for creation of joint-stock company: decision making about organization of society, election of governing bodies of society, determination of the size of the authorized capital and procedure for its payment. Payment of the shares issued in case of establishment of a joint-stock company: share placing price, methods and payment due dates.
Procedure for decision making about dividend payout, payment due dates of dividends, the list of persons having the right to dividends. Restrictions for dividend payout. Implementation of cascade payments.
Types and features of reorganization of joint-stock company: merge, accession, separation, allocation and transformation. Moment of recognition of joint-stock company reorganized.
Liquidation of joint-stock company: voluntary and forced. Procedure for liquidation of joint-stock company: decision making about liquidations, creation of liquidation commission, the publication in press organs of the message on liquidation of society, procedure and terms for presentation of requirements of creditors, distribution of property of the liquidated joint-stock company between shareholders.
Insolvency (bankruptcy) of joint-stock company: general provisions.
Shareholder rights - common shareholders of society. Shareholder rights - preferred shareholders of society. Right to be informed, the right to require share repurchase joint-stock company, the right to make proposals in the agenda of general meeting, the right to initiate convocation of extraordinary meeting, shareholder preemptive right of joint-stock company on acquisition of its shares alienated according to paid transactions by other shareholders. Bases of origin and procedure of these rights.
Governing bodies of joint-stock company: general shareholder meeting, board of directors (supervisory board), individual and joint executive bodies and their competence. Procedure for election of the board of directors and executive bodies of joint-stock company. The questions which are within the exclusive competence of general shareholder meeting. Procedure for decision making by general shareholder meeting. Methods of participation in general shareholder meeting. Questions of exclusive competence of the board of directors (supervisory board) of joint-stock company. Procedure for decision making by the board of directors (supervisory board). Sole executive body of joint-stock company. Collegiate executive body of joint-stock company.
Russian Code of corporate governance: content, basic principles of corporate management. "Observe the principle or explain" in case of implementation of the Russian Code of corporate governance.
Concept of affiliates. Accounting treatment for affiliates of joint-stock company. Procedure, form and terms of submission of information on affiliates to competent authorities of the government. The controlling and under control person (controlled organization).
Determination of large deal. Approval of large deal by governing bodies of joint-stock company. Effects of non-compliance with the requirement about approval of large deal. Interest in making of the transaction by joint-stock company, procedure for approval of such transaction. Independent directors of joint-stock company. Effects of non-compliance with requirements to the transaction in which making there is interest.
The voluntary offer on share acquisition of public society, and also other issued securities converted into shares of public society. The obligatory offer on share acquisition of public society, and also other issued securities converted into shares of public society. The redemption of securities upon the demand of the shareholder who acquired more than 95% of shares of public society. The redemption of securities person which acquired more than 95% of shares of public society upon the demand of shareholders. Functions of the Bank of Russia when implementing the state control of share acquisition of public society.
Functions of the Bank of Russia in the field of the financial market. Monetary control of the Bank of Russia: methods and tools. Licensing as one of state regulation machineries of the financial market. The licensed conditions and requirements imposed to license applicants on implementation of activities in the field of the financial market. Procedure for licensing. Responsibility of the licensed organization in connection with implementation of the licensed type of activity. Suspension, renewal of action of the license and cancellation of the license.
Holding control and supervising actions by the Bank of Russia concerning members of the financial market.
Certification of specialists of the financial market.
Self-regulation in the field of the financial market and self-regulatory organizations in the field of the financial market (further - SRO). Acquisition of the status of SRO. Requirements to activities of SRO. Standards of SRO. Membership in SRO.
Restrictions in the security market for the purpose of protection of the rights and legitimate interests of investors. Submission of information to the investor in connection with security circulation. The list of information which is subject to publication by the Bank of Russia for the purpose of informing and the warning of investors of committed and possible offenses in the security market. Powers of the Bank of Russia regarding protection of the rights and legitimate interests of investors. Features of protection of the rights and legitimate interests of investors by the Bank of Russia judicially. Civil methods of protection of the rights of investors. Indemnification.
Concept of the insider information. The data relating to the insider information. Insiders. The actions relating to market manipulation. Measures for prevention, identification and suppression of unauthorized use of the insider information and (or) market manipulation. Disclosure or submission of the insider information.
Concept of legalization (washing) of income gained in the criminal way. Concept of transaction with money or other property. The transactions with money or other property which are subject to mandatory control. The organizations performing transactions with money or other property. Authorized body to which data on the transactions with money or other property which are subject to mandatory control, the organizations performing transactions with money or other property are represented.
The measures directed to counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing.
Concept of administrative offense. Administrative responsibility of officials and legal entities. Types of administrative punishments. Prescription of administrative prosecution. Types of administrative offenses in the financial market. Bodies, officials, representatives to consider cases on administrative offenses in the field of the financial market.
Concept and actus reus. Wine. Types of punishments. The circumstances commuting and aggravating penalty. Calculation of prescriptive limits of criminal prosecution. Crimes in the field of economic activity.
Concept of temporary cost of money.
Concept of percent and interest rate. Accretion and discounting. Methods and formulas of calculation of the increased amount and modern size of payment (simple, compound, effective interest).
Change in value of money in time. Inflation. Quantitative analysis of cash flows. Discounting of cash flows. The generalizing characteristics of cash flows. Determination of future and current value of cash flow.
Purposes and principles of fundamental analysis. Stages of fundamental analysis. Macroeconomic analysis and its indicators. Industry analysis and its indicators. Microeconomic analysis. Main indicators (estimates) of financial condition of the issuer.
Formula of calculation of current value of cash flows and its use for value assessment of securities.
Cost determination and bond yields. Cost of non-coupon and coupon bonds. Flat yield of the bond, bond yield to repayment.
Cost determination and share yields. Income indicator on one share, R/E coefficient.
Concept of beta coefficient. Formula for calculation of beta coefficient.
Acceptance of investment and finance solutions in the conditions of inflation.
Accidental event. Determination of accidental event, reliable and impossible events. Direct calculation of probability of accidental event. Group of accidental events, opposite, incompatible, equally likely, independent events. Addition and multiplication of probabilities.
Random variable. Function of distribution and distribution density of random variable. Numerical characteristics of random variable. Population mean, dispersion, standard deviation of random variable and their property. Probability of hit of the random variable submitting to the normal distribution law in the set range.
Numerical characteristics of system of random variables. Covariance and coefficient of correlation.
Use of statistic analysis of temporary ranks of security yields: calculation of expected return, dispersion, mean square variation, covariance and coefficient of correlation of two securities.
Normative regulation of financial accounting and accounting (financial) records in the Russian Federation. The state bodies authorized on financial accounting regulation. Provisions and standards on financial accounting. International accounting standards (further - IFRS) and application of IFRS in the territory of the Russian Federation.
Accounting policy of the organization. Objects of financial accounting.
Chart of accounts of financial accounting and accounting entries.
Unified plan of accounts of financial accounting and industry standards of financial accounting for not credit financial credit institutions.
Balance sheet. Assets and liabilities. Balance sheet layout. Profit and loss statement. Cash flow statement.
The main methods of the analysis of accounting (financial) records for determination of financial position of the organization: horizontal (time), vertical (structural), trend analysis, analysis of financial ratios, comparative, factor analysis.
Main indicators of financial condition of the organization.
Features of financial accounting and accounting (financial) records for not credit financial credit institutions.
Concept and types of the financial investments. Recognition criteria. Assessment of the financial investments. Accounting of the financial investments. Impairment of the financial investments.
Types of tax and the charges established in the Russian Federation.
Taxpayers and payers of charges, their rights and obligation. Tax agents, their rights and obligations.
Taxation elements: taxation object, tax base, tax rate, tax period, procedure for calculation of taxes, procedure and due dates for tax payment.
Value added tax: taxation object, tax base, tax rate, tax period. Transactions in the security market and the market of derivative financial instruments, not liable to the value added tax (exempted from the taxation). Procedure for determination of tax base in case of sales of goods (works, services). Determination of tax base by the taxpayers on value added gaining income on the basis of agreements of the order, commission agreements or agency agreements. Reference of tax amounts on costs on production and sales of goods (works, services).
Determination of market value of the securities which are traded and not being traded on the organized securities market for the purpose of calculation of taxes.
Income tax of the organizations: taxation object, tax base, tax rate, tax period. Procedure for determination of the income and expenses. Features of the taxation of the income of the organization for financial instrument transactions, on repo operations with securities. Application of the tax rate of 0 percent. Features of inclusion in tax base of the income tax of financial results from implementation of securities on categories of taxpayers - professional participants of the security market and investors.
Income tax: taxation object, tax base, tax rate, tax period, tax declaration. Criteria of division of securities into the securities which are traded on the organized market of securities and the securities which are not traded on the organized market of securities. Features of determination of tax base in case of receipt of the income in type of material benefit, on financial instrument transactions, on repo operations with securities.
Features of calculation and the tax discharge concerning the income by certain types of securities.
Features of calculation and the tax discharge by tax agents when implementing transactions with securities, financial instrument transactions of forward transactions, and also when implementing payments for securities.
Features of determination of tax base under agreements of non-state pension provision and agreements of mandatory pension insurance signed with non-state pension funds.
Features of determination of tax base on transactions of loan of securities.
Features of calculation and the tax discharge concerning the income on government securities, municipal securities, and also on the issued securities issued by the Russian organizations, the paid foreign organizations which are acting for the benefit of the third parties.
Tax-free (exempted from the taxation) the income of physical persons. Investment tax deduction.
Individual investment account. Features of the taxation of money, securities and requirements for agreements which are considered on the individual investment account.
Payers of the state fee, duty size, duty payment due dates. The state fee when implementing of legally significant actions by the Bank of Russia.
Features of implementation by the organizations of the financial market of financial transactions in the territory of the Russian Federation with persons to whom the legislation of foreign state on the taxation of foreign accounts extends.
History of origin and main tendencies of development of the world financial market. Main international financial centers. International, regional and national financial markets. Globalization of the world financial market and its effect. Characteristics of the world financial market.
Infrastructure of the world financial market.
Main stock exchanges. The stock indexes in developed countries: main types and methods of calculation.
General characteristic of institutional investors. Main characteristics of the industry of collective investors. Hedge funds. Exchange investment funds (ETF).
Main rating agencies and news agencies.
General characteristics of the world markets of shares and bonds, markets of derivative financial instruments and goods markets, instruments of collective investment. Interrelation of different segments of the world financial market. Market development of eurobonds. Russian and foreign depositary receipts.
Regulators of the financial market in the EU, the USA, BRICS countries, other Asian, Islamic countries and their powers. Features of regulation of the financial markets of the EU, USA, BRICS countries, other Asian, Islamic countries. Main regulations.
Types of the financial instruments which are traded on the securities market of the EU, the USA, BRICS countries, other Asian, Islamic countries. Features of release and registration, admission and address of financial instruments to the EU, USA, BRICS countries, other Asian, Islamic countries. Trade systems. Investment firms. Requirements to capital adequacy.
Features of the market of the debt capital of the USA. Main characteristics of the security market of the USA: mechanism of issue and procedure for pricing, types of tools, spreads. Features of the mechanism of trade in tools of the financial market in the USA. "Prudent man rule" in the USA.
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