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Ski
ll C
rite
ria
Ta
sk
Kn
ow
led
ge
Cri
teri
at!
. op
timis
ing
inve
stm
ent
retu
rns.
m
arke
t.
. In
dica
te w
ho t
he p
artic
ipan
ts in
the
mo
ne
y m
arke
t ar
e an
d ex
plai
n h
ow
inte
ract
ion
betw
een
part
icip
ants
cre
ates
act
ivity
in
the
mo
ne
m
arke
t. E
xpla
in t
he c
once
pts
rega
rdin
g tr
adin
g, r
ecor
d ke
epin
g, c
lear
ing
of
cert
ain
mon
ey m
arke
t in
stru
men
ts.
inst
rum
ents
. Di
S.CU
SS t
he e
ssen
tial f
eatu
res
and
purp
oses
of t
he m
oney
r--.---~----------------------J
33
Pro
vide
adv
ice
and
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct t
he
mon
ey m
ark
et i
nstr
umen
ts.
Des
crib
e M
on
ey
Mar
ket
Mat
hem
atic
s an
d h
ow
it s
houl
d be
ap
plie
d.
Diff
eren
tiate
the
quo
tatio
n of
yie
lds
-N
AC
A,
NA
CO
etc
.
. C
alcu
late
the
tim
e va
lue
of
mon
ey a
s ap
plic
able
to
mo
ne
y m
ark
et
inst
rum
ents
Cal
cula
te th
e te
nder
pri
ce f
or
a T
rea
sury
Bill
. ----------------------~
yiel
d on
a d
isco
unt
inst
rum
ent.
Cal
cula
te th
e m
atur
ity v
alue
, co
nsid
erat
ion,
pric
e, y
ield
etc
of
an
__
__
__
__
__
__
__
__
__
__
__
__
__
__
__
_-1I~interest a
dd-o
n se
curit
y.
Cal
cula
te t
he c
onsi
dera
tion,
dis
coun
t am
ount
, et
c. f
or
all
disc
ount
_
__
__
__
__
__
_·_
__
__
__
__
__
__
__
__
_--lI....:i~n=stn.Jm:.:::e:.:..n:.::ts:.:..--.,__--__:_:-------1
Cal
cula
te t
he y
ield
on
a d
isco
un
t in
stru
men
t if
the
disc
ount
rat
e is
kn
own.
C
alcu
late
the
dis
cou
nt
rate
on
a di
scou
nt in
stru
men
t if
the
yiel
d is
the
mat
urity
val
ue o
f an
in
tere
st a
dd-o
n se
curit
y.
Cal
cula
te t
he c
onsi
dera
tion,
pric
e,
yiel
d, e
tc o
f an
inte
rest
add
-on
secu
rity
if it
is t
rade
d be
fore
mat
urity
.
(,()
.;:
. z 9 w .... 0\ .... .;:.
G) o < m
II
z s: m
z -l
G) ~ m
:j
m
0\ o () d (J
J m
II
!\) o o 00
Ta
sk
Kn
ow
led
ge
Cri
teri
a S
ove
reig
n-i
nte
rest
be
ari
ng
se
curi
ties
to c
lient
s w
ith
I Exp
lain
the
pur
pose
and
cha
ract
eris
tics
of a
Tre
asur
y bill
. re
spec
t to
tre
asur
y bi
lls.
I !
Dis
cuss
the
iss
uing
pro
cedu
res
(ten
derin
g sy
stem
) fo
r T
reas
ury
Bill
s in
the
prim
ary
mar
ket.
~ I Exp
lain
how
Tre
asur
y B
ills
are
trad
ed in
the
sec
onda
ry m
arke
t. I IE
xpla
in h
ow r
edem
ptio
n ta
kes
plac
e.
I _
__
__
__
__
_~!_
Ski
ll C
rite
ria
II O
ffer
inve
sim
ent
advi
ce o
n tr
easu
ry
bills
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
IApp
ly t
he p
rinci
ples
of T
reas
ury
Bill
s.
ri I
fa d
ebe
nt
r O
ff ta
d'
RB
Ds
with
~ •
u~~
I i
Dis
tingu
ish
betw
een
SA
RB
deb
entu
res
and
othe
r de
bent
ures
. I
retu
rns.
reX
Pla
in t
he is
suin
g pr
oced
ures
(te
nder
ing
syst
em)
for
RB
Ds
in
the
prim
ary
mar
ket.
I
Ba
nke
rs' A
cce
pta
nce
s
36
! [Dis
cuss
the
seco
ndar
y m
arke
t of
RB
Ds
and
the
reas
on t
radi
ng
in t
he s
econ
dary
mar
ket
is l
imite
d.
Be
able
to d
o th
e ba
sic
RB
D's
issu
e an
d de
alin
g m
athe
mat
ics
and
appl
y its
prin
cipl
es i
n a
case
stu
dy.
Exp
lain
how
red
empt
ion
take
s pl
ace.
Pro
vide
adv
ice
to c
lient
s w
ith
inve
stm
ent
advi
ce o
n B
A's
with
re
spec
t to
Bas
. a
view
to o
ptim
isin
g in
vest
men
t re
turn
s.
Exp
lain
the
purp
ose
and
char
acte
ristic
s of
a B
A.
Do
basi
c B
A c
alcu
latio
ns.
Exp
lain
the
iss
uing
pro
cedu
res
for
BA
s in
the
prim
ary
mar
ket.
I A
pply
the
deal
ing
mat
hem
atic
s an
d Ic
alcu
latio
ns r
elev
ant
to T
reas
ury
Bill
s
Incl
ude
trea
sury
bill
s an
d S
AR
B
I deb
entu
res
here
~ ~ ~ /\ o m
JJ » z --I
.....
(J1 o ~
OJ
m
:n
I\
) o o co z o Q
(J1 - ... II)
(J1
Ta
sk
advi
ce to
clie
nts
with
I
resp
ect
to N
CD
s.
I
65
Kn
ow
led
ge
Cri
teri
a
Exp
lain
how
BA
s ar
e tr
aded
in t
he s
econ
dary
mar
ket.
Ne
go
tia
ble
Ce
rtif
ica
tes
of
De
po
sit
.rDef
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
a N
CO
.
retu
rns
Be
able
to d
o ba
sic
NC
O c
alcu
latio
ns a
nd a
pply
its
prin
cipl
es in
.
a ca
se s
tudy
.
Ski
ll C
rite
ria
I Off
er in
vest
men
t ad
vice
on
NC
Ds
with
I
a vi
ew t
o op
timis
ing
inve
stm
ent
Re
pu
rch
ase
Ag
ree
me
nts
38
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o re
pos.
D
efin
e an
d ex
plai
n th
e pu
rpos
e an
d ch
arac
teris
tics
of a
rep
o.
-----~.
carr
ies.
Com
pare
the
diffe
renc
es b
etw
een
repo
s
Off
er in
vest
men
t ad
vice
on
repo
s w
ith
a vi
ew to
opt
imis
ing
inve
stm
ent
retu
rns.
, N
am
e a
nd e
xpla
in t
he ty
pes
of r
epos
use
d in
Sou
th A
fric
a.
IEX
Pla
in t
he u
ses
of r
epos
. O
the
r M
on
ey
Ma
rke
t In
stru
me
nts
39~r-Provide a
dvic
e to
clie
nts
with
re
spec
t to
lan
d ba
nk b
ills
in
the
mo
ne
y m
arke
t.
! D
escr
ibe
the
inst
rum
ents
use
d by
cor
pora
te,
para
stat
al a
nd c
ivic
is
suer
s in
SA
and
ut
ilisa
tion
in a
por
tfolio
.
40
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to c
omm
erci
al p
aper
in
the
mon
ey m
arke
t.
i
Des
crib
e th
e ra
ting
requ
irem
ents
and
the
rol
e of
the
ratin
g ag
enci
es.
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
oth
er
com
mer
cial
pap
er.
Off
er
inve
stm
ent a
dvic
e on
co
mm
erci
al p
aper
with
a v
iew
to
optim
iSin
g in
vest
men
t re
turn
s.
Vl
......
01
...... t
--
-
<D
01 z !=l w
01 .,.. G) o <
m :n z s: m
z -I
G) ~ ~ m
01 § o OJ
m :n I\) o o OJ
1 G'l
o cp -' o ~
Co)
42
44
Co)
-'
()1 -' !
to c
lient
s w
ith
to c
omm
erci
al p
aper
an
d se
curi
tisat
ion
in t
he
mon
ey m
arke
t.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o se
curi
tisat
ion
sche
mes
in
the
mo
ne
y m
arke
t.
Pro
vide
re
spec
t to
pro
mis
sory
not
es,
capi
tal
proj
ect
bills
, b
rid
gin
bo
nds,
(T
rans
net)
cou
pon
stoc
ks a
nd c
all
bond
s.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to f
orw
ard
rate
ag
reem
ents
in t
he m
on
ey
mar
ket
66
Kn
ow
led
ge
Cri
teri
a
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
ass
et
back
ed c
omm
erci
al p
aper
.
Def
ine
and
expl
ain
secu
ritiz
atio
n sc
hem
es a
nd i
nstr
umen
ts.
Def
ine
and
expl
ain
prom
isso
ry n
otes
, ca
pita
l pr
ojec
t bi
lls,
brid
ging
bon
ds,
(Tra
ns n
et}
coup
on s
tock
s an
d ca
ll bo
nds.
Mo
ne
y M
ark
et
De
riva
tive
s
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
For
war
d
Rat
e A
gree
men
ts (
FR
As)
.
Kno
w h
ow to
cal
cula
te t
he F
RA
set
tlem
ent
amou
nt a
nd t
he c
ost
of t
he o
riain
al l
oan.
Ski
ll C
rite
ria
O
ffer
inv
estm
ent
advi
ce o
n se
curit
izat
ion
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s
Off
er in
vest
men
t adv
ice
on
secu
ritiz
atio
n sc
hem
es w
ith a
vie
w to
op
timis
ing
inve
stm
ent
retu
rns.
To
pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to p
rom
isso
ry n
otes
, ca
pita
l pr
ojec
t bi
lls,
brid
ging
bon
ds,
(Tra
nsne
t) c
oupo
n st
ocks
and
cal
l bo
nds.
Off
er in
vest
men
t ad
vice
on
FR
As
with
a
view
to o
ptim
isin
g in
vest
men
t re
turn
s.
~ ~ (/) 6 m
JJ ~ .:-l
()1 o ~ o III m
JJ
t\) o o co z o (...) .....
()1
-'
.I> ~
()7
~ No,
I
Ta
sk
\_
.
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a I
-Kno
w a
nd u
nd
ers
tan
d t
he m
echa
nics
of t
radi
ng F
RA
s, t
he u
ses
I~~
of
FR
A's
and
quo
hng
of
two-
way
pric
es,
45
Pro
vide
adv
ice
to c
lient
s w
ith
I Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s o
f In
tere
st
Off
er in
vest
men
t ad
vice
on
IRS
s w
ith
I I r
espe
ct to
int
eres
t ra
te s
wa
ps
I R
ate
Sw
aps
(IR
S).
.
a vi
ew
to o
ptim
isin
g in
vest
me
nt
I ' in
the
mo
ne
y m
arke
t.
I 1
retu
rns.
I [D
iSC
US
S t
he u
ses
of
IRS
. ..-~
I lB
e a
ble
to a
pply
IR
S p
rinc
iple
s an
d do
the
requ
isite
ca
lcu
lah
on
,:
jDe
lln
e a
nd e
xpla
in t
he p
urpo
se a
nd c
hara
cler
lshc
s o
f R
and
Ove
rnig
ht D
epos
it S
wa
ps
(RO
DS
).
Dis
cuss
the
use
s o
f R
OD
S.
t B
e ab
le to
app
ly R
OD
S p
rinci
ples
and
do
the
requ
isite
ca
lcul
atio
ns.
DiS
Cu
ss th
e pr
icin
g o
f S
hort
-ter
m i
nter
est r
ate
deriv
ativ
es,
and
do
the
requ
isite
cal
cula
tions
. 46
P
rovi
de a
dvic
e to
clie
nts
with
D
efin
e an
d ex
plai
n th
e pu
rpos
e an
d ch
arac
teris
tics
of I
nter
est
Off
er in
vest
men
t ad
vice
on
inte
rest
re
spec
t to
Inte
rest
Rat
e R
ate
Cap
s, F
loor
s an
d C
olla
rs.
rate
opt
ions
with
a v
iew
to o
ptim
isin
g op
tions
. in
vest
men
t re
turn
s.
Dis
cuss
the
use
s o
f C
aps
and
Flo
ors.
In
dica
te w
ho t
he c
ount
erpa
rtie
s ar
e an
d ho
w r
isk
is t
rans
ferr
ed.
I· D
iscu
ss t
he r
ever
sibi
lity
and
trad
abili
ty o
f C
aps
and
Flo
ors.
Be
able
to d
istin
guis
h be
twee
n C
aps
and
Flo
ors
as o
ppos
ed t
o In
tere
st R
ate
Sw
aps.
Dis
cuss
the
use
s o
f C
olla
rs.
I I
Be
able
to
appl
y th
e pr
inci
ples
of
Col
lars
an
d do
the
req
uisi
te
calc
ulat
ions
. ~
\0
CD z p w .... U1 .... "" G'l o <
m
II
z s: m
z -i
G> ~ m
~ Jl1
U1 o ~ o OJ
m
II
I\) 8 Ol
47
48
49
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he
Yie
ld-X
Iexc
hang
e.
50
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to
Bon
d E
xcha
nge
SA
list
s in
tere
st r
ate
deriv
ativ
es.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he B
ond
Mar
ket
conv
entio
ns.
68
Dis
cuss
the
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
inte
rest
fu
ture
s.
may
be
hedg
ed w
ith i
nter
est r
ate
futu
res
Dis
cuss
the
eff
ect
of t
he i
nver
se p
rice-
inte
rest
rat
e re
latio
nshi
p on
the
val
ue o
f a
futU
res
posi
tion,
be
able
to a
pply
the
prin
cipl
es
in a
cas
e st
udy
and
do t
he r
equi
site
cal
cula
tions
.
Def
ine
the
Yie
ld-X
exc
hang
e, i
ts p
urpo
se a
nd f
eatu
res.
conv
entio
ns a
pplic
able
to
Indi
cate
tha
t th
e B
ond
Exc
hang
e S
A li
sts
inte
rest
rat
e de
rivat
ives
.
Ski
ll C
rite
ria
Offe
r in
vest
men
t ad
vice
on
inte
rest
ra
te f
utur
es w
ith a
vie
w t
o in
vest
men
t ret
urns
.
Offer
inve
stm
ent
advi
ce w
ith r
espe
ct
to Y
ield
s-X
trad
ed i
nstr
umen
ts w
ith a
vi
ew
to o
ptim
iSin
g in
vest
men
t re
turn
s.
Off
er in
vest
men
t ad
vice
with
res
pect
to
int
eres
t ra
te d
eriv
ativ
es t
rade
d on
_
__
_~____________
-------:-:------:-:---:-:--:----1
B
ES
A w
ith a
vie
w to
opt
imis
ing
sett
lem
ent c
onve
ntio
ns a
pplic
able
to
inve
stm
ent r
etur
ns.
BE
SA
.
Bo
nd
s In
dica
te h
ow
the
bond
mar
ket f
its i
nto
the
finan
cial
sys
tem
.
Indi
cate
who
the
rol
e-pl
ayer
s in
the
sec
onda
ry b
ond
mar
ket
are.
Sta
le th
e el
emen
ts
I Off
er a
dvic
e on
bon
d m
arke
t co
nven
tions
with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
~ ~ (J) i'\ o m
JJ » z ;-l
(J1 o ~ o OJ
m
JJ
I\) 8 Ol z o tv
(J1 .... "" U)
10
.... g 6
t)
z ~ w
.....
U1
Ta
sk
~..
52
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he i
ssui
ng o
f bo
nds
in t
he B
ond
Mar
ket
1
53
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he i
nstr
umen
ts in
th
e B
ond
Mar
ket.
-
54
Pro
vide
adv
ice
and
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct to
in
vest
ing
in t
he B
ond.
Mar
ket.
.j:> (j) o < m
lJ
Z s: m
z -l
Gl ~ 9
J11
.... U1 o ~ o co m
lJ
I\
l g CD
Dis
cuss
bor
row
ers
Dis
cuss
the
rea
sons
for
issu
ing
bond
s as
opp
osed
to
othe
r sh
ort-
term
sec
uriti
es.
I In
dica
te t
he c
ateg
orie
s of
bon
d is
suer
s an
d un
ders
tand
the
fact
ors
that
ma
y in
fluen
ce t
heir
issu
ing
activ
ities
,
Exp
lain
the
rel
atio
nshi
p be
twee
n go
vern
men
t de
bt a
nd f
isca
l po
licy.
Des
crib
e th
e in
stru
men
ts o
f th
e bo
nd m
arke
t.
Dis
tingu
ish
betw
een
the
mai
n ch
arac
teris
tics
of th
e di
ffere
nt
type
s of
bon
ds f
ound
in
the
Sou
th A
fric
an a
nd i
nter
natio
nal
bond
m
arke
ts a
nd b
e ab
le to
dis
tingu
ish
betw
een
them
.
Des
crib
e th
e in
vest
ors
in b
onds
(de
man
d fo
r bo
nds)
.
Exp
lain
the
mai
n in
vest
ors
in G
over
nmen
t an
d ot
her
bond
s.
Dis
cuss
the
mot
ivat
ion
for
the
diff
eren
t sec
tors
and
ins
titut
iona
l an
d ot
her
inve
stor
s to
hol
d bo
nds.
Off
er in
vest
men
t ad
vice
on
the
issu
ing
of b
ond
with
a v
iew
to
optim
isin
g in
vest
men
t ret
urns
Off
er a
dvic
e on
the
diff
eren
t typ
es o
f bo
nd m
arke
t in
stru
men
ts w
ith a
vie
w
to o
ptim
isin
g in
vest
men
t re
turn
s.
Offe
r in
vest
men
t ad
vice
on
the
risks
an
d st
ruct
ure
of t
he b
ond
mar
ket.
55
Pro
vide
adv
ice
and
,Exp
lain
the
risk
s fa
ced
in h
oldi
ng b
onds
incl
udin
g m
arke
t ris
k,
inte
rmed
iary
ser
vice
s to
cr
edit
risk
call
risk,
rei
nves
tmen
t ris
k, l
iqui
dity
ris
k, v
olat
ility
ris
k cl
ient
s w
ith r
espe
ct t
o r
isks
ex
chan
ge r
ate
risk,
inc
iden
t ris
k an
d in
flatio
n ris
k.
face
d by
inve
stor
s in
the
Bo
nd M
arke
t.
No.
56
58
70
Kn
ow
led
ge
Cri
teri
a
Pro
vide
adv
ice
to c
lient
s w
ith
Ta
sk
Exp
lain
the
ris
ks a
nd a
dvan
tage
s o
f in
vest
ing
in t
he f
orei
gn b
ond
resp
ect
to i
nves
ting
in t
he
mar
ket.
For
eign
Bon
d M
arke
t.
I _
__
__
__
__
+r:O
-:-iS
-C-U
-ss-.t
h-e-
r-o-:-
le-of:
-ratT
ng a
genc
ies.
Pro
vide
adv
ice
to c
lient
s w
ith
iOiS
CU
SS
the
Bon
d E
xcha
nge
of S
outh
Afr
ica.
re
spec
t to
the
rol
e of
BE
SA
in
the
bond
mar
ket.
.ExP
lain
the
ris
ks f
aced
by
mar
ke ...t p
artic
ipan
ts in
an
OT
C m
arke
t an
d ho
w t
hese
ris
ks a
re o
verc
ome
by
trad
ing
on a
n ex
chan
ge.
Dis
cuss
the
met
hods
of
issu
e. t
he v
ario
us p
artic
ioan
ts a
nd '
he
role
s th
ey p
lay
in t
he p
rimar
y bo
nd m
arke
t.
Exp
lain
the
bas
ic s
truc
ture
of -
SE
SA
& Y
ield
-X a
nd h
ow
trad
es
are
proc
esse
d.
Dis
cuss
the
im
port
ance
of
the
seco
ndar
y bo
nd m
arke
t, th
e I p
artic
ipan
ts a
nd t
he r
oles
the
y pl
ay in
the
mar
ket,
the
orga
nisa
tion
and
stru
ctur
e an
d fu
nctio
ns o
f the
sec
onda
ry b
ond
Ima
rke
t.
Pro
vide
adv
ice
to c
lient
s w
ith
I
mat
hem
atic
s.
mon
ey.
Def
ine
futu
re v
alue
from
pre
sent
val
ue a
nd v
ice
vers
a.
espe
ct to
the
tim
e v
alue
of
I
Cal
cula
te f
utur
e va
lue
from
pre
sent
va
lue
and
vice
ver
sa.
Ski
ll C
rite
ria
~ I I
Off
er
inve
stm
ent
advi
ce o
n th
e rol
e-Of~
BE
SA
in t
he b
ond
mar
ket
with
a v
iew
to
opt
imis
ing
inve
stm
ent
retu
rns.
Per
form
the
bon
d m
arke
t
Exp
lain
how
the
ann
uity
form
ula
appl
ies
to b
onds
.
Def
ine
fixed
cou
pon
rate
bon
ds.
. re
spec
t to
the
val
uatio
n o
f P
rovi
de a
dvic
e to
clie
nts
with
~.--
I Be
able
to c
alcu
late
the
pric
e (v
alue
) of
a b
ond
with
a fi
xed
coup
on r
ate
and
a fix
ed t
erm
to
mat
urity
. I b
onds
.
Exp
lain
the
conc
epts
of
cum
int
eres
t an
d ex
inte
rest
. (a
dd t
he
~arr
!e u
nder
egu
ities
-cu
m d
ivid
ends
and
ex
divi
dend
s}.
Be
able
to a
pp
ly th
e st
anda
rd p
rice
form
ula
for
bond
s w
ith 6
m
onth
s or
long
er to
mat
urity
and
for
bon
ds w
ith l
ess
than
6
mon
ths
to m
atur
ity.
Per
form
bas
ic ti
me
valu
e of
mon
ey
calc
ulat
ions
.
Per
form
bon
d pr
icin
g ca
lcul
atio
ns a
nd
sens
itivi
ty c
alcu
latio
ns .
~ ~ fJ) 6 m
JJ ~ _-1
...L
01 a q a OJ m
JJ
I\) o o co z o w
.... 01
.....
.j>. .....
o .....
--
---
No.
T
ask
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o th
e yi
eld
curv
e,
60
ExP
lain
the
diff
eren
t us
es O
fthe
yreT
d cur
ve.
Def
ine
the
par
yiel
d cu
rve
and
the
zero
-cou
pon
yiel
d cu
rve
and
disc
uss
thei
r us
es.
Des
crib
e th
e di
ffer
ent
shap
es o
f the
yie
ld c
urve
, w
hat
it re
pres
ents
in t
erm
s of
sho
rt-t
erm
and
lon
g-te
rm i
nter
est
rate
s an
d ex
pect
atio
ns w
ith r
egar
d to
sho
rt-t
erm
int
eres
ts r
ates
(m
onet
ary
polic
y).
Exp
lain
and
be
able
to
cal
cula
te im
plie
d fo
rwar
d ra
tes
from
the
yi
eld
curv
e,
Look
at
wha
t w
as d
evel
oped
for
equ
ity d
eriv
ativ
es -
and
incl
ude
cred
it de
rivat
ives
.
Der
ivat
ives
----,-
-
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
a de
rivat
ive
resp
ect
to d
eriv
ativ
e m
arke
t 61
P
rovi
de a
dvic
e to
clie
nts
with
co
ntra
ct a
nd e
xpla
in h
ow th
e sp
ot m
arke
ts r
elat
e to
der
ivat
ive
inst
rum
ents
. m
arke
ts.
71
Kn
ow
led
ge
Cri
teri
a D
efin
e an
d be
ab
le to
app
ly th
e fo
llow
ing
bond
cal
cula
ting
form
ulae
to t
he fo
llow
ing
inst
rum
ents
: pe
rpet
ual
bond
s, b
onds
w
ith a
var
iabl
e ra
te,
infla
tion
linke
d (C
PI)
bond
s, z
ero
coup
on
bond
s an
d st
rips.
Exp
lain
and
be
able
to
app
ly o
ther
yie
ld m
easu
res.
Exp
lain
and
be
able
to
appl
y bo
nd m
ark
et c
once
pt li
ke d
urat
ion,
M
acau
ley
dura
tion,
mod
ified
dur
atio
n an
d co
nvex
ity.
Kno
w w
hat
the
bond
rat
e tim
e se
ries
is a
nd t
erm
str
uctu
re o
f in
tere
st r
ates
.
Def
ine
the
yiel
d cu
rve
and
indi
cate
how
it is
der
ived
.
Ski
ll C
rite
ria
I
Per
form
and
int
erpr
et y
ield
cur
ve
anal
ysis
.
Off
era
dvi
ce o
n de
rivat
ive
mar
ket
conv
entio
ns w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
.....
o I\l z o w .... (J1
.j>. Gl o <
m
JJ z :;:::
m
z -!
Gl ~ 9
Jl1
(J
1 o ~
OJ
m
JJ
N o o 00
---
62
63
64
66
Ski
ll C
rite
ria
Pro
vide
ad
vice
to c
lient
s w
ith
Def
ine
and
disc
uss
the
feat
ures
of
the
spot
mar
ket
and
the
I Offe
r ad
vice
on
spot
ma
rke
t re
spec
t to
the
spot
mar
ket.
sett
lem
ent
conv
entio
ns in
the
sec
uriti
es m
arke
ts.
sett
lem
ent
conv
entio
ns w
ith a
vie
w to
op
timis
ina
inve
stm
ent
retu
rns.
ad
vice
to C
Tien
ts w
ith
!De
fin
e a
nd e
xpla
in t
he f
eatu
res
and
purp
ose
of a
for
war
d re
spec
t to
for
war
d co
ntra
cts
Pro
vide
ad
vice
to c
lient
s I,.
-lith
resp
ect
to f
orw
ard
inte
rest
ra
te c
ontr
acts
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to r
epur
chas
e ag
reem
ents
.
Pro
vide
ad
vice
and
in
term
edia
ry s
ervi
ces
to
clie
nts
with
res
pect
to
forv
.ard
co
ntra
cts
in t
he e
quity
m
arke
t.
Pro
vide
ad
vice
to c
lient
s re
spec
t to
for
war
d co
ntra
cts
in t
he f
orei
gn e
xcha
nge
mar
ket.
l__<::o
ntra
ct.
__
_
I B
e ab
le to
ap
ply
pr
inci
ples
a
cont
ract
I
requ
isite
cal
cula
tions
.
Com
pare
the
adv
anta
ges
of f
orw
ard
mar
kets
with
tho
se o
f
~futures
mar
kets
.
Def
ine
the
defin
ition
, fe
atur
es a
nd p
urpo
se o
f a
forw
ard
inte
rest
ra
te c
ontr
act
and
be a
ble
to a
nd d
o th
e re
quis
ite c
alcu
latio
ns.
Offe
r in
vest
men
t ad
vice
on
forw
ard
inte
rest
rat
e co
ntra
cts
with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
Def
ine
the
feat
ures
and
pur
pose
of
a re
purc
hase
ag
ree
me
nt
(rep
o) a
nd b
e ab
le t
o a
pp
ly th
e pr
inci
ples
of
a re
po a
nd d
o th
e re
quis
ite c
alcu
latio
ns.
Off
er in
vest
men
t ad
vice
on
repu
rcha
se a
gree
men
ts w
ith a
vie
w to
in
vest
men
t re
turn
s.
Offe
r in
vest
men
t ad
vice
on
forw
ard
cont
ract
s w
ith a
vie
w to
opt
im is
ing
inve
stm
ent
retu
rns.
Exp
lain
the
mot
ivat
ion
for
usin
g re
pos,
the
ins
titut
ions
invo
lved
in
thi
s m
arke
t an
d th
e d
iffe
ren
t typ
es o
f re
pos.
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
a fo
rv.a
rd i
n th
e eq
uity
ma
rke
t an
d be
abl
e to
app
ly th
e pr
inci
ples
of a
forv
.ard
an
d do
the
req
uisi
te c
alcu
latio
ns.
Offe
r in
vest
men
t ad
vice
on
forw
ard
cont
ract
s in
the
eq
uity
ma
rke
t w
ith a
vi
ew
to o
ptim
isin
g in
vest
me
nt r
etur
ns.
Off
er i
nves
tmen
t ad
vice
on
forw
ard
Def
ine
the
feat
ures
and
pur
pose
of f
orw
ards
in t
he f
orei
gn
cont
ract
s in
the
for
eign
exc
hang
e ex
chan
ge m
ark
et
and
be a
ble
to a
pp
ly th
e pr
inci
ples
of
a m
ark
et w
ith a
vie
w to
opt
imis
ing
forw
ard
and
do t
he r
equi
site
cal
cula
tions
. _
__
__
__
__
__
__
-lL
inve
stm
en
!
~ ~ ~ (f
) A o rn II ~ .:-
I
U1 o ~
OJ
rn II
rv
o o (Xl z o (;) ~
-I> .... S
67
--
01 ~ z
73
o U)
...J
,
~
I N
o.
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Def
ine
and
be a
ble
to d
istin
guis
h be
twee
n ou
trig
ht fo
rwar
ds,
fore
ign
exch
ange
sw
aps,
for
war
d-fo
rwar
ds a
nd t
ime
optio
ns.
[-EX
Pla
in t
he m
otiv
atio
ns f
or u
sing
the
for
war
d fo
reig
n ex
chan
ge
mar
ket.
'68
--P
rovi
de a
dvic
e to
clie
nts Wit
h~! D
efin
e an
d di
scus
s th
e fe
atur
es a
nd p
urpo
se o
f for
war
ds in
the
Ski
ll C
rite
ria
1 O
ffer
inve
stm
ent
advi
ce o
n fo
rwar
d I
cont
ract
s in
the
com
mod
ities
mar
ket
resp
ect
to f
orw
ard
cont
ract
s I:
om
mo
dlu
es
mar
ket
and
be a
ble
to a
pply
the
prin
cipl
es o
f a
I in
the
com
mod
ities
mar
ket.
forw
ard
and
do t
he r
equi
site
cal
cula
tions
. w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
I re
turn
s.
I Exp
lain
the
prin
cipl
es o
f he
dgin
g by
mea
ns o
f fo
rwar
d I
j in
stru
men
ts
Fu
ture
s --c--
-69
P
rovi
de a
dvic
e to
clie
nts
with
re
spec
t to
fut
ures
mar
ket
-
70
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he p
rici
ng o
f in
tere
st r
ate
futu
res.
71
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he p
ricin
g of
in
divi
dual
bon
d fu
ture
s.
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of f
utur
es a
nd d
o
the
requ
isite
cal
cula
tions
. (e
.g.
com
mod
ities
mar
ket)
Exp
lain
how
a fu
ture
s pr
ice
rela
tes
to t
he s
pot
pric
e.
Exp
lain
how
the
futu
res
mar
ket
is o
rgan
ised
, ho
w c
lear
ing
take
s pl
ace,
the
con
cept
s of
mar
gini
ng a
nd m
arki
ng to
mar
ket,
open
in
tere
st a
nd h
ow s
ettle
men
t ta
kes
plac
e.
Exp
lain
how
the
pric
ing
of f
utur
es t
akes
pla
ce,
be a
ble
to a
pply
th
e pr
inci
ples
an
d do
the
requ
isite
cal
cula
tions
.
Exp
lain
how
the
pric
ing
of in
tere
st r
ate
futu
res
take
s pl
ace,
be
able
to
appl
y th
e pr
inci
ples
an
d d
o th
e re
quis
ite c
alcu
latio
ns.
, E
xpla
in h
ow th
e pr
icin
g of
indi
vidu
al b
ond
futu
res
take
s pl
ace,
I
be a
ble
to a
pply
the
prin
cipl
es
and
do t
he r
equi
site
cal
cula
tions
.
Off
er in
vest
men
t ad
vice
on
futu
res
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
o o < m
::n z s: m
z -I o ~ m ~
01
o ~
OJ m
::n I\) o o Q)
Ap
ply
the
prin
cipl
es o
f fut
ures
co
ntra
cts
in t
he a
gric
ultu
ral
mar
ket.
Ap
ply
the
prin
cipl
es o
f in
divi
dual
bon
d fu
ture
s in
the
agr
icul
tura
l mar
ket.
-T
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
72
ipro
vid
e a
dvic
e an
d E
xpla
in h
ow th
e pr
icin
g o
f ind
ivid
ual e
quity
futu
res
take
s pl
ace,
A
pply
the
prin
cipl
es o
f for
war
d !
inte
rmed
iary
ser
vice
s to
be
abl
e to
app
ly th
e pr
inci
ples
and
do
the
requ
isite
cal
cula
tions
. co
ntra
cts
in t
he f
orei
gn e
xcha
nge
clie
nts
with
res
pect
to t
he
mar
ket.
pric
ing
of in
divi
dual
equ
ity
I I fut
ures
.
731'P
rovi
de a
dvic
e to
clie
nts
with
E
xpla
in h
ow th
e pr
icin
g of
com
mod
ity fu
ture
s ta
kes
plac
e.
App
ly th
e pr
inci
ples
of
the
pric
ing
of
resp
ect t
o th
e pr
icin
g o
f co
mm
odity
futu
res
mar
ket.
indi
vidu
al c
omm
odity
futu
res.
,
App
ly th
e pr
inci
ples
of
pric
ing
of
com
mod
ity fu
ture
s.
Do
the
requ
isite
cal
cula
tions
.
App
ly th
e .i
nr-
,nl"
",
of
basi
s an
d ne
t ca
rry
cost
s.
74
75
App
ly th
e pr
inC
iple
s o
f hed
aina
in t
he
agric
ultu
ral
mar
ket.
I Pro
vide
adv
ice
and
Exp
lain
the
prin
cipl
e of
bas
is a
nd n
et c
arry
cos
ts.
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct to
bas
is
and
net c
arry
cos
t.
Pro
vide
adv
ice
and
how
to h
edge
with
fut
ures
and
be
able
to
appl
y th
e in
term
edia
ry s
ervi
ces
to
prin
cipl
e o
f hed
ging
to c
ase
stud
ies
and
be a
ble
to d
o th
e cl
ient
s w
ith r
espe
ct t
o re
quis
ite c
alcu
latio
ns,
part
icul
ar h
edgi
ng w
ith a
inte
rest
rat
e h
ori
nin
n in
the
fut
ures
mar
ket.
futu
re (
US
OR
), a
sha
re in
dex
futu
re,
and
a cu
rren
cy fu
ture
.
Ul ~
::...
t U
l A
o m
JJ ~ --
I ->
(]
1 o ~ o III m
JJ
N o o (Xl
Sw
ap
s
76
Pro
vide
adv
ice
to c
lient
s w
ith
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
inte
rest
rat
e O
ffer I
nves
tmen
t adv
ice
on i
nter
est
resp
ect
to i
nter
est
rate
sw
aps.
ra
te s
wap
s w
ith a
vie
w to
opt
imis
ing
swap
s.
inve
stm
ent
retu
rns.
App
ly th
e of
int
eres
t rat
e sw
aos
Do
the
requ
isite
cal
cula
tions
for
77
Pro
vide
adv
ice
to c
lient
s w
ith
-~--:-:---;-:-;::----:----:----::---:--------,,---.,------l
inte
rest
rat
e sw
aps.
I D
escr
ibe
the
diff
eren
t ver
sion
s o
f eq
uity
sw
aps
that
exi
st.
Off
er in
vest
men
t adv
ice
on e
quity
re
spec
t to
equ
ity s
wap
s.
swap
s.
z ~
(.U .... (]
1 .... ~ ...... !i1
--
.... g z o75
U
l .... U1
.j:>
No
. T
as
k
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a O
pti
on
s I
78
--P
rovi
de a
dvic
e to
clie
nts
with
D
efin
e an
d d
iscu
ss t
he f
eatu
res
of
optio
ns a
nd b
e ab
le t
o O
ffer
inve
stm
ent
advi
ce o
n op
tions
re
spec
t to
opt
ions
. di
stin
guis
h be
twee
n pu
t an
d ca
ll op
tions
. w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns
i D
escr
ibe
the
diff
eren
t pa
yoff
pro
files
and
be
able
to i
nter
pret
the
gr
aphi
c re
pres
enta
tions
the
reof
incl
udin
g lo
ng c
all o
ptio
ns,
shor
t ca
ll op
tions
, lo
ng p
ut o
ptio
n an
d sh
ort
put
optio
n.
Des
crib
e th
e or
gani
satio
n o
f the
opt
ions
mar
kets
.
Exp
lain
the
ma
rgin
ing
and
set
tlem
ent
prin
cipl
es f
or l
iste
d op
tions
an
d O
Te
opt
ions
.
79
Pro
vide
adv
ice
to c
lient
s w
ith
Des
crib
e th
e t
wo
mai
n op
tion
pric
ing
I val
uatio
n m
odel
s na
mel
y
resp
ect t
o op
tion
pric
ing.
th
e B
lack
-Sch
oles
mod
el a
nd t
he B
imod
ial
mod
el a
nd b
e ab
le to
ap
ply
the
prin
cipl
es.
,
resp
ect t
o op
tions
in t
he
Pro
vide
adv
ice
to c
lient
s w
ith
Def
ine
and
dis
cuss
th
e fe
atur
es o
f opt
ions
on
swap
s an
d be
8
0
able
to a
pply
pri
ncip
les.
de
riva
tives
mar
ket.
Def
ine
and
dis
cuss
the
fea
ture
s of
opt
ions
on
de
bt m
ark
et
inst
rum
ents
inc
ludi
ng c
aps
and
floor
s an
d bo
nds
and
be a
ble
to
apJJ
ly !=
lrinc
iple
s.
Pro
vide
adv
ice
to c
lient
s w
ith
Des
crib
e th
e m
ech
an
ics
of
deal
ing
in b
ond
optio
ns.
resp
ect
to o
ptio
ns i
n th
e bo
nd
mar
ket.
81
---
1--
-E
xpla
in o
ptio
ns o
n bo
nd in
dice
s, b
ond
war
rant
s (c
all
optio
ns a
nd
reta
il op
tions
.),
bo
nd
s w
ith e
mbe
dded
opt
ions
and
con
vert
ible
I b
onds
.
G) o < m
II
z s: m
z -I
G) ~ =1 m
U1 o ~ o ID
m
II
I\) a a OJ
---
76
Tas
k.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to o
ptio
ns in
the
fo
reig
n ex
chan
ge a
nd
com
mod
ities
mar
kets
.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to o
ptio
n st
rate
gies
.
with
Der
ivat
ive
Inst
rum
ents
: P
rovi
de a
dvi
ce to
clie
nts
with
re
spec
t to
cre
dit
and
wea
ther
de
rivat
ives
.
Pro
vide
adv
ice
to c
lient
s re
spec
t to
car
bon
cred
it,
and
en
erg
y de
rivat
ives
.
Kn
ow
led
ge
Cri
teri
a ,
Def
ine
and
disc
uss
the
feat
ures
of
optio
ns o
n fo
reig
n ex
chan
ge
I and
com
mod
ities
.
Des
crib
e op
tion
stra
tegi
es a
nd b
e ab
le to
app
ly th
e an
d in
terp
ret
grap
hic
repr
esen
tatio
ns,
incl
udin
q bu
t no
t lim
ited
to
a st
rad
dle
and
str
angl
e.
Exp
lain
the
diff
eren
t ty
pes
of
exot
ic o
ptio
ns t
hat
exis
t in
the
m
arke
t. and
disc
uss
the
feat
ures
of
less
com
mon
der
ivat
ives
su
ch a
s cr
edit
deriv
ativ
es a
nd w
eath
er d
eriv
ativ
es.
Def
ine
and
disc
uss
carb
on c
redi
t, sh
ippi
ng a
nd e
nerg
y de
rivat
ives
.
Pro
vide
adv
ice
to c
lient
s w
ith
I Def
ine
de
lta h
edgi
ng.
resp
ect
to d
elta
hed
ging
.
Pro
vide
adv
ice
to
Exp
lain
wha
t a
delta
Ile
dge
is a
nd w
hat
it is
use
d fo
r.
Exp
lain
con
cept
s lik
e de
lta,
delta
var
iabl
e, d
elta
neu
tral
hed
ge
ratio
, in
-the
-mon
ev a
nd o
uH
he
-mo
ne
v.
Des
crib
e w
hat
is t
aken
int
o co
nsid
erat
ion
whe
n a
delta
hed
ge is
ca
lcul
ated
.
with
I
Sp
ecu
iaiio
na
nd
Pos
ition
-tak
ing.
Ski
ll C
rite
ria
Offe
r in
vest
men
t ad
vice
on
cred
it an
d w
eath
er d
eriv
ativ
e in
stru
men
ts w
ith a
vi
ew
to o
ptim
isin
g in
vest
men
t re
turn
s.
Offe
r in
vest
men
t adv
ice
on c
arbo
n cr
edit,
shi
ppin
g an
d e
ne
rgy
deriv
ativ
e w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
Off
er in
vest
men
t ad
vice
on
delta
w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
A
pply
the
prin
cipl
es o
f a
de
lta h
edge
.
Off
er in
vest
men
t ad
vice
on
No.
82
83
87
88
(J) ~
~ 6 m
:::0
~ .-1
01 o ~
II
I m
:::0
fI.) o o <Xl z o c..>
-"
01
-"
-I>
o ~ ""
77
NO=+
;·· T
ask
I K
no
wle
dg
e C
rite
ria
I re
spec
t to
spe
cula
tion
In t
he IEx
pla
in w
hat
a sp
ecul
ator
is a
nd w
hat
role
and
fun
ctio
n th
ey a
re
I mar
ket.
play
ing
on t
he f
utur
es e
xcha
nge.
I
I Dis
tingu
ish
betw
een
hedg
ing
and
spec
ulat
ing.
I
I Exp
lain
wha
t po
sitio
n ta
king
is a
nd w
hat
it is
use
d fo
r.
I j]
Pla
in w
hy p
asni
an t
akin
g ca
n be
bat
h sp
ecul
ativ
e an
d I
antic
ipat
ory
hedg
ing.
! 89
ICar
ryin
g of
Com
mod
ity:
I Exp
lain
how
fut
ures
can
be
used
to
defr
ay th
e co
st o
f ca
rryi
ng
Pos
ition
s P
rovi
de a
dvic
e to
.
an i
nven
tory
of
prod
ucts
. cl
ient
s w
ith r
espe
ct to
I
carr
ying
cos
ts.
I I 90
A
rbitr
age:
Pro
vide
adv
ice
to
I Des
crib
e w
hat
arbi
trag
e is
and
the
rol
e th
at it
pla
ys in
the
fut
ures
.
clie
nts
with
res
pect
to
. m
arke
t. ar
bitr
age
tran
sact
ions
.
91
-r· P
ricin
g: P
rovi
de a
dvic
e to
E
xpla
in h
ow p
rice
dete
rmin
atio
n ta
kes
plac
e on
the
fut
ures
cl
ient
s w
ith r
espe
ct t
o pr
icin
g m
arke
t an
d ho
w th
e ex
chan
ge s
erve
s as
a p
rice
disc
over
y in
the
mar
ket.
mec
hani
sm.
92
I F
orec
astin
g P
rice
To
prov
ide
advi
ce to
clie
nts
with
res
pect
to f
orec
astin
g pr
ice
. M
ovem
ents
. m
ovem
ents
by
mea
ns o
f fu
ndam
enta
l an
alys
is in
the
mar
ket.
.
93
Con
duct
a F
unda
men
tal
Fun
dam
enta
l an
alys
is.
anal
Ysi
s.
I E
xpla
in w
hat
fund
amen
tal
anal
ysis
is a
nd w
hat
belie
fs u
nder
lie
this
app
roac
h.
-
Dis
cuss
fun
dam
enta
l an
alys
is in
the
con
text
of
the
mar
kets
and
na
me
the
fact
ors
take
n in
to c
onsi
dera
tion
by a
fun
dam
enta
l an
alys
t for
a p
artic
ular
pric
e ou
tlook
.
Dis
cuss
the
obje
ctiv
es o
f fun
dam
enta
l an
alys
is,
the
diff
eren
t la
yers
invo
lved
inc
ludi
ng m
icro
econ
omic
and
the
m
acro
econ
omic
fact
ors
that
are
im
port
ant f
or fu
ndam
enta
l an
1'lJ
ysis
._
.
Ski
lllJr
lU":
IICI
spec
ulat
ion
and
posi
tion-
taki
ng w
ith a
I
view
to o
ptim
isin
g in
vest
men
t re
turn
s. I I I
Off
er in
vest
men
t adv
ice
on C
arry
ing
I o
f C
omm
odity
Pos
ition
s in
the
mar
ket
I w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
. re
turn
s.
Off
er in
vest
men
t adv
ice
on a
rbitr
age
in t
he m
arke
t with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
Off
er i
nves
tmen
t ad
vice
on
pric
ing
in
the
mar
ket w
ith a
vie
w to
opt
imis
ing
inve
stm
ent r
etur
ns.
Off
er in
vest
men
t adv
ice
on p
rice
mov
emen
ts in
the
mar
ket
with
a v
iew
to
opt
imis
ing
inve
stm
ent r
etur
ns.
... g z o til .....
U'1 .,. Ci) o < m
JJ
z s: m
z -l
Ci) ~ m
~ m
U'1 o () b OJ
m
JJ
f\l o o ill
.. r--
...._
.N
o.
Ta
sk
Kn
ow
led
ge
ciT
teifa
--·
I S
kill
Cri
teri
a -9~
Con
duct
a te
chni
cal
anal
ysis
I E
xpla
in t
he g
e ne
ral
prin
cipl
es o
f te
chni
cal
anal
ysis
and
the
thr
ee
Off
er in
vest
men
t ad
vice
on
tech
nica
l of
the
mar
ket.
broa
d ar
eas
tt-at
it c
an b
e di
vide
d in
. I a
naly
sis
in t
he m
arke
t with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
(.Q
< C
hart
pat
lern
s an
d tr
end
95
Dis
cuss
the
diff
eren
t ty
pes
of c
hart
s an
d be
abl
e to
rea
d a
tren
d i
Off
er in
vest
men
t ad
vice
on
char
t id
entif
icat
ion
To
pro
vide
an
d dr
aw c
an!
usio
n fr
om it
. I
patle
rns
and
tren
ds in
the
mar
ket
with
~ ~
advi
ce t
o cl
ient
s w
ith r
espe
ct
a vi
ew to
opt
imis
ing
inve
stm
ent
(f)
to t
rend
ide
ntifi
catio
n us
ing
retu
rns.
6 m
I cha
rt p
atte
rns
in t
he m
arke
t. ;IJ
» z _-I
--'
96
(J1
Pro
vide
adv
ice
to c
lient
s w
ith
inve
stm
ent
advi
ce o
n tr
ader
Exp
lain
marf~el se
ntim
ent
and
be a
ble
to d
eter
min
e th
e o
resp
ect
to m
arke
t se
ntim
ent
sent
imen
t in
the
mar
ket
with
a v
iew
in
the
ma
rke
t se
ntim
ent
in t
h e
mar
ket
usin
a di
ffere
nt m
eans
. ~
to o
ptim
isin
g in
vest
men
t re
turn
s.
o III
m
._....
;IJO
ffer
inve
stm
ent
advi
ce o
n m
arke
tP
rovi
de a
dvic
e to
clie
nts
with
E
xpla
in h
ow s
udy
ing
mar
ket
stru
ctur
e to
ant
icip
ate
pric
e an
d 97
N
ost
ruct
ure
in t
he m
ark
et w
ith a
vie
w to
re
spec
t to
the
im
pact
of
time
expe
ctat
i ons
and
the
the
orie
s in
thi
s re
gard
. o co
optim
isin
g in
vest
m e
nt r
etur
ns.
expe
ctat
ions
in t
he m
arke
t. m
arke
t st
ruct
ure
on p
rice
L..
.........
-
z p U) ::: ~ ~
79
Se
ctio
n 1
0:
RE
10:
S
eco
nd
Le
vel
Re
gu
lato
ry E
xam
ina
tio
n:
Sh
ort
Te
rm I
nsu
ran
ce:
Pe
rso
na
l L
ine
s
(1 )
A
ll re
pres
enta
tives
per
form
ing
finan
cial
ser
vice
s in
rel
atio
n to
cat
egor
y I
deal
ing
with
the
sub
cate
gory
Sho
rt T
erm
Ins
uran
ce:
Per
sona
l Li
nes
are
requ
ired
to c
ompl
ete
a fir
st le
vel
regu
lato
ry e
xam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria a
s it
appe
ars
in S
ectio
n 4
and
a se
cond
le
vel
regU
lato
ry e
xam
inat
ion
base
d on
the
qua
lifyi
ng c
riter
ia in
Sec
tion
10.
(2)
E
xam
inat
ion
bodi
es h
ave
the
disc
retio
nary
pow
ers
to o
ffer
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
cat
egor
y I,
deal
ing
with
the
sub
cate
gory
Sho
rt T
erm
Ins
uran
ce:
Per
sona
l Li
nes,
whe
re s
uch
repr
esen
tativ
es m
ay
choo
se to
com
plet
e on
e ex
amin
atio
n th
at
addr
esse
s th
e qu
alify
ing
crite
ria
as it
app
ears
in S
ectio
ns 4
and
10.
(3
) T
he q
ualif
ying
cri
teri
a in
Sec
tion
4 an
d S
ectio
n 10
ser
ve a
s th
e cr
iteria
aga
inst
whi
ch q
ualif
icat
ions
will
be
eval
uate
d fo
r in
clus
ion
on t
he
list o
f re
cogn
ised
qua
lific
atio
ns.
NO
. T
AS
K
1.
Det
erm
ine
the
clie
nts
need
fo
r in
sura
nce.
---::-~-
2.
rvla
tch
the
clie
nt's
nee
d to
the
re
leva
nt p
rodu
cVs.
3.
App
ly u
nder
wri
ting
crite
ria.
,~~
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
Exp
lain
the
prin
cipl
es o
f in
sura
nce
incl
udin
g th
e A
sk r
elev
ant
ques
tions
rel
atin
g to
pro
duct
offe
ring
in
conc
epts
of
insu
rabl
e in
tere
st,
insu
rabl
e ris
k, d
uty
of
orde
r to
det
erm
ine
the
clie
nts
need
for
insu
ranc
e.
disc
losu
re,
inde
mni
ty,
aver
age,
com
pens
atio
n,
subr
ogat
ion,
pro
xim
ate
caus
e, c
ontr
ibut
ion.
Exp
lain
the
pol
icy
wor
ding
/s in
clud
ing
the
conc
ept
I Gat
her
rele
vant
info
rmat
ion
by c
ompl
etin
g a
ques
tionn
aire
whe
re a
pplic
able
. I
of
exce
ss,
unde
rwrit
ing
crite
ria
and
type
s of
per
ils.
Est
ablis
h th
e in
sura
ble
inte
rest
, pr
evio
us c
laim
s lo
ss h
isto
ry,
prev
ious
insu
ranc
e an
d pe
rson
al
finan
cial
sta
tus
of t
he c
lient
.
Des
crib
e th
e be
nefit
s of
fere
d by
rel
evan
t pr
oduc
ts.
Exp
lain
the
diff
eren
t lin
es o
f in
sura
nce.
I-
c, ~
-~
Exp
lain
the
diff
eren
t typ
es o
f co
ver
(incl
udin
g se
lf in
sura
nce)
ava
ilabl
e an
d th
e im
plic
atio
ns a
nd
bene
fits
ther
eof.
Des
crib
e cl
ient
spe
cific
con
trac
tual
obl
igat
ions
e.g
. H
P a
gree
men
ts,
tena
nt li
abili
ty.
Exp
lain
how
to a
pply
the
unde
rwrit
ing
crite
ria.
Exp
lain
the
con
cept
of
rein
sura
nce
and
limits
of
Ireten
tion
of th
e C
ompa
ny.
Cap
ture
rel
evan
t in
form
atio
n.
Exp
lain
and
app
ly p
rinci
ples
of
insu
ranc
e.
Iden
tify
the
area
s of
ris
k to
whi
ch t
he c
lient
is
expo
sed.
Con
duct
a c
ompa
rison
of t
ypes
of c
over
ava
ilabl
e to
th
e cl
ient
.
Det
erm
ine
fact
ors/
haza
rds
that
will
inf
luen
ce r
isk.
Iden
tify
addi
tiona
l req
uire
men
ts.
load
ings
, di
scou
nts
and
exce
sses
whi
ch m
ay n
eed
to b
e ap
plie
d.
..... .... o z o W
.....
(}1
-' ~
G) o <
m
:0 z s: m
z -l
G) ~ 9
m
.... (}
1 o Q
o OJ
m
:0
I\J 8 Ol
I
