Sekuritas dan Futures

HKSI Licensing Examination: Which Papers Do You Need? RA Mapping, All 17 Papers and Official Pass Rates | 2026

PickMyQuiz
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HKSI Licensing Examination: Which Papers Do You Need? RA Mapping, All 17 Papers and Official Pass Rates | 2026

搜「HKSI」、「證券牌考試」或者「sfc 1號牌考試」嘅人,十居其九想知同一件事:我究竟要考邊幾張卷?呢個問題冇一個統一答案——證券及期貨從業員資格考試(HKSI Licensing Examination,簡稱 LE)合共十七張卷,你要考邊幾張,取決於你申請邊類受規管活動(Regulated Activity,RA),以及你係持牌代表(LR)負責人員(RO)。本文按香港證券及投資學會官方資料整理完整對照表,再用官方公布嘅合格率同 PickMyQuiz 三個 HKSI 題庫累計 279,882 次練習作答,告訴你邊張卷紙上最難、邊張實際操落去最難——兩者唔一樣。

一、HKSI LE 同 SFC 牌照嘅關係

證監會(SFC)發牌,香港證券及投資學會(HKSI Institute)辦考試。你考 LE 唔等於攞到牌——LE 係證監會《勝任能力指引》下證明本地監管知識及認可行業資格嘅考試途徑;通過之後仍然要向證監會提交牌照申請,並符合學歷、行業經驗同適當人選(fit and proper)要求。下表列嘅係一般標準路徑,個別申請人可能因其他認可資格或指引第 4.4 段嘅豁免而唔使考齊全部卷。

牌照分兩個身分,考卷要求唔同:

  • 持牌代表(Licensed Representative,LR)——實際執行受規管活動嘅前線人員。
  • 負責人員(Responsible Officer,RO)——負責監督該項受規管活動嘅人。RO 要喺 LR 嘅卷數之上,再加一張對應嘅規例卷

二、RA 對照表:你要考邊幾張

呢張表係全篇最重要嘅一節,亦係坊間最多寫錯嘅地方。以下按 HKSI 官方資格考試概覽列出嘅一般路徑整理:

受規管活動 持牌代表(LR) 負責人員(RO)
第 1、4、8 類
證券交易/就證券提供意見/證券保證金融資
卷一 + 卷七 + 卷八卷一 + 卷二 + 卷七 + 卷八
第 2、5 類
期貨合約交易/就期貨合約提供意見
卷一 + 卷七 + 卷九卷一 + 卷三 + 卷七 + 卷九
第 6 類
就機構融資提供意見
卷一 + 卷七 + 卷十一卷一 + 卷五 + 卷七 + 卷十一
第 9 類
提供資產管理
卷一 + 卷七 + 卷十二卷一 + 卷六 + 卷七 + 卷十二
第 10 類
提供信貸評級服務
卷一 + 卷七 + 卷十卷一 + 卷四 + 卷七 + 卷十
第 13 類
為集體投資計劃提供存管服務
卷一 + 卷七 + 卷十九卷一 + 卷十八 + 卷七 + 卷十九

兩個最多人寫錯嘅位

  • 第 1/4/8 類嘅標準路徑唔止兩張卷。好多備試資料寫「卷一 + 卷七」就算——官方表列係 卷一 + 卷七 + 卷八;負責人員再加卷二。實際要求仍要連同個人資格及適用豁免一併確認。
  • 第 9 類用卷十二,唔係卷九。卷九係《衍生工具》,配第 2、5 類;第 9 類(資產管理)對應嘅應用卷係卷十二《資產管理》

另外要留意:官方呢張表冇列第 3 類(槓桿式外匯交易),因為 HKSI 冇為第 3 類提供考卷;第 7 類(提供自動化交易服務)則冇本地監管架構試卷及認可行業資格要求。第 11、12 類涉及場外衍生工具,相關制度及考卷仍待生效。唔好自行由其他類別推導,實際要求以 HKSI 概覽及證監會最新指引為準。

三、17 張卷完整規格

全部十七張卷合格線一律 70%,全部電腦應考(CBE),試題中英對照。

名稱題數時限香港試場環球試場
基本證券及期貨規例6090 分鐘$1,800$2,250
證券規例4060 分鐘$2,000$2,450
衍生工具規例4060 分鐘$2,000$2,450
信貸評級服務規例4060 分鐘$2,000$2,450
機構融資規例4060 分鐘$2,000$2,450
資產管理規例4060 分鐘$2,000$2,450
金融市場6090 分鐘$1,620$2,070
證券4060 分鐘$1,620$2,070
衍生工具4060 分鐘$1,620$2,070
信貸評級服務4060 分鐘$1,620$2,070
十一機構融資4090 分鐘$1,620$2,070
十二資產管理4060 分鐘$1,620$2,070
十五保薦人(主要人員)4060 分鐘$2,000$2,450
十六保薦人(代表)4060 分鐘$2,000$2,450
十七公司收購及股份回購規例4060 分鐘$2,000$2,450
十八存管服務規例4060 分鐘$2,000$2,450
十九集體投資計劃存管服務4060 分鐘$2,000$2,450

三個容易忽略嘅細節:卷一同卷七係現行 LE 僅有嘅兩張 60 題卷(其餘全部 40 題);卷十一係唯一一張 40 題但畀足 90 分鐘嘅卷,時間壓力明顯細啲;而現行 LE 未包括卷十三、卷十四。HKSI 概覽註明,兩卷會喺第 12 類新發牌制度開始後提供,所以唔應寫成永久不存在。

卷別分三組:規例試卷(一、二、三、四、五、六、十八)、應用試卷(七、八、九、十、十一、十二、十九)、額外勝任能力規定試卷(十五、十六、十七)。

四、官方合格率:卷一先係最難嗰張

HKSI 同 PEAK 主辦嘅考試有一個關鍵分別:HKSI 逐月公布每張卷嘅真實合格率,而 IIQE、MPFE 從來冇公布過。呢啲係難得嘅硬數據。

2025 年 7 月至 2026 年 6 月滾動十二個月:卷一 51.9%,全部十七張卷之中最低;最高係卷十五(保薦人主要人員)87.12%。

想逐月比較全部卷、睇每張卷嘅高低月份,可以用 HKSIPapers 嘅官方合格率歷史資料庫;嗰邊保留每月 snapshot,本文就集中處理選卷同練習次序。

卷一係 HKSI 官方表列多個主要受規管活動標準路徑嘅共同本地監管架構試卷,亦係合格率最低嗰張——即係話對大部分循標準路徑嘅考生嚟講,第一關就係最難嗰關。先啃卷一、再處理相應應用卷,係有數據支持嘅次序。

五、279,882 次練習作答:難度排序倒轉咗

官方合格率反映嘅係「入到試場嗰批人」嘅表現——已經溫好書先去考。練習階段嘅畫面好唔同。以下係 PickMyQuiz 三個 HKSI 題庫嘅累計作答紀錄:

試卷題庫題數練習作答次數練習答對率
卷八 證券1,63252,76027.4%
卷七 金融市場1,59757,18531.9%
卷一 基本證券及期貨規例2,195169,93748.8%

官方合格率同練習答對率講緊兩件唔同嘅事。官方數據話你知卷一最難考過;練習數據話你知卷七、卷八一開始操落去最唔順手。合理解讀係:卷一範圍最闊、題量最大,但係規則框架反覆分類之後會穩定落嚟;卷七卷八要處理定價、產品分類同市場關係,未建立概念之前錯得特別多。

課題級最弱嗰批(按實際作答次數計):

課題卷別題數作答次數答對率
證券類別卷八60919,17026.6%
證券市場管理卷八1725,49626.8%
證券投資概覽卷八2508,14827.5%
外匯及衍生工具市場卷七31310,73729.6%
債務市場卷七33311,65729.8%
發牌及註冊與附屬法例卷一48033,87943.9%

「發牌及註冊與附屬法例」係卷一入面作答次數最多、亦係答對率最低嘅課題——考卷一嘅人如果只夠時間操一個課題,就係呢個。

六、成績「三年過期」係唔準確嘅講法

坊間好常見一句:「HKSI 成績三年過期」。準確講法係——證監會《勝任能力指引》預期申請人喺遞交牌照申請前三年內通過相關考試,但指引明文容許接納三年之前取得嘅資格,例如申請人一直留喺業界,或者喺過去三年內曾經擔任該項受規管活動嘅持牌代表或負責人員。

換句話講,三年係一個預期而唔係一條硬性作廢線。長期喺行內嘅人唔會因為考卷年份耐咗就自動要重考——但個別情況以證監會裁定為準。

七、常見問題

Q1:HKSI 合格線幾多分?

全部十七張卷一律 70%。冇分卷別、冇浮動,全部電腦應考(CBE),試題中英對照。

Q2:想做證券經紀(第 1 類),最少要考幾張?

按官方一般標準路徑,持牌代表三張:卷一 + 卷七 + 卷八。如果要做負責人員,四張:卷一 + 卷二 + 卷七 + 卷八。已有其他認可資格或符合豁免條件者,實際要求可以不同。

Q3:卷七同卷八要唔要一齊考?點揀次序?

按第 1/4/8 類嘅標準路徑,卷七同卷八兩張都屬認可行業資格要求,唔係二選一。次序方面,官方合格率顯示卷一最難(51.9%),而練習數據顯示卷七卷八初期答對率最低(31.9% 同 27.4%)。實務上多數人先考卷一打好規例底,再處理卷七卷八嘅產品同市場概念。

Q4:第 9 類(資產管理)係咪考卷九?

唔係。第 9 類持牌代表考 卷一 + 卷七 + 卷十二;負責人員再加卷六。卷九《衍生工具》係配第 2、5 類嘅。呢個係最常見嘅寫錯位之一。

Q5:考幾錢?

香港試場:卷一 HK$1,800;卷七、八、九、十、十一、十二 HK$1,620;其餘規例卷及卷十五至十九 HK$2,000。環球試場每張約貴 HK$430–450。以第 1 類持牌代表(卷一 + 卷七 + 卷八)計,香港試場合共約 HK$5,040。

Q6:HKSI 同 IIQE(保險牌)邊個難?

兩者性質唔同。HKSI 全部卷合格線 70%,卷一官方合格率 51.9%;IIQE 各卷合格線同樣係 70%,但 PEAK 從來冇公布合格率。可以參考我哋嘅 HKSI 與 IIQE 難度比較,以及保險牌照全攻略

Q7:卷十三、卷十四喺邊?

現行 HKSI LE 未包括卷十三同卷十四。HKSI 官方概覽寫明,兩卷會喺第 12 類受規管活動嘅新發牌制度開始後提供;現階段任何備試資料如果將佢哋當成已開考,都要再向官方核實。

逐卷深入攻略

操 HKSI 卷一、卷七、卷八逾 5,400 題模擬題

按官方課題分類,附答案解析同錯題重溫。免費下載,隨時隨地操題。

本文由 PickMyQuiz 題庫團隊整理。受規管活動對照、各卷題數/時限/費用及 70% 合格線引自 HKSI 資格考試概覽;官方合格率引自 HKSI 考試合格率頁;成績時限及豁免界線引自證監會《勝任能力的指引》,以官方最新公告為準。練習數據來源:PickMyQuiz HKSI 卷一(QB120)、卷七(QB121)、卷八(QB122)模擬練習題庫,截至 2026 年 8 月 13 日累計 279,882 次作答,屬本站原創練習題嘅答對率,並非官方考試合格率。本題庫不含任何官方試題內容。

Practice Questions (10)

Questions from the same category. Reveal results after answering.

1. 獲香港結算接納按持續淨額交收制度交收的聯交所買賣,在發生「更替」程序後,哪一個機構將會介入並成為相關結算參與者的唯一交收對手? For an Exchange Trade accepted by HKSCC for settlement under CNS, which institution intervenes and becomes the sole settlement counterparty for the relevant Clearing Participants after the "novation" process takes place?

multiple_choice

2. 關於滬港通及深港通(互聯互通機制)下的北向交易(陸股通)安排,下列哪些描述是正確的? (i) 北向交易目前不允許進行即日買賣 (ii) 只有符合特定條件的部分合資格股票才允許進行保證金交易(融資買入) (iii) 為了監察市場,北向交易已全面實施投資者識別碼制度 (iv) 北向交易開放予所有香港及海外機構與個人投資者參與 Regarding the Northbound trading (Northbound Trading Link) arrangements under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (Stock Connect), which of the following descriptions are correct? (i) Northbound trading currently does not allow day trading (ii) Margin trading (margin buying) is only permitted for certain eligible stocks that meet specific conditions (iii) To monitor the market, an Investor ID regime has been fully implemented for Northbound trading (iv) Northbound trading is open to all Hong Kong and overseas institutional and individual investors

multiple_choice

3. 根據香港《公司條例》及一般公司治理實務,關於董事的酬金與服務合約,下列哪一項敘述最為準確? (i) 董事袍金通常由股東大會在年度大會上釐定,除非組織章程細則另有授權予董事局。 (ii) 執行董事因履行管理職責而獲得的薪酬,主要受其與公司簽訂的服務合約約束。 (iii) 若服務合約條款包含超過三年的固定期限,且公司不能在無須支付補償的情況下終止合約,則該合約必須獲得股東大會的事先批准。 (iv) 非執行董事通常僅領取董事袍金,法律上嚴禁其與公司簽署任何形式的服務合約。 According to the Companies Ordinance of Hong Kong and general corporate governance practices, which of the following statements regarding directors' remuneration and service contracts is most accurate? (i) Directors' fees are usually determined by the general meeting of shareholders at the annual general meeting, unless the Articles of Association authorize the board of directors otherwise. (ii) Remuneration received by executive directors for performing management duties is primarily governed by the service contract signed with the company. (iii) If the terms of a service contract include a fixed term exceeding three years, and the company cannot terminate the contract without paying compensation, the contract must be approved in advance by the general meeting of shareholders. (iv) Non-executive directors usually only receive directors' fees, and it is legally strictly prohibited for them to sign any form of service contract with the company.

multiple_choice

4. 根據香港《證券及期貨條例》的監管框架,關於在香港向公眾發售的集體投資計劃及相關推廣活動的法定權力歸屬,下列哪項敘述最為準確? (i) 證監會負責認可集體投資計劃本身,並有權對該計劃的廣告及發售文件授予認可 (ii) 凡涉及與證券掛鉤的結構性產品,其向公眾作出要約的認可權限由香港交易所行使 (iii) 若集體投資計劃由認可機構(如銀行)推廣,則其廣告的審批權將自動移交予金融管理局 (iv) 證監會在授予認可時,可根據條例對相關計劃施加其認為適當的條件 Under the regulatory framework of the Hong Kong 'Securities and Futures Ordinance', which of the following statements is most accurate regarding the vesting of statutory power over collective investment schemes (CIS) offered to the public in Hong Kong and related promotional activities? (i) The SFC is responsible for authorizing the CIS itself and has the power to grant authorization for the scheme's advertisements and offering documents (ii) For structured products linked to securities, the authority to authorize offers to the public is exercised by the Hong Kong Stock Exchange (iii) If a CIS is promoted by an authorized institution (such as a bank), the approval power for its advertisements will automatically be transferred to the Monetary Authority (iv) When granting authorization, the SFC may impose such conditions as it considers appropriate on the relevant scheme under the Ordinance

multiple_choice

5. 李先生是一位受聘於「恒信資產管理有限公司」的持牌代表,持有第 9 類(提供資產管理)受規管活動的牌照,多年來專注於全權委託帳戶的債券組合管理。李先生的長期客戶張先生對其表現極為滿意,遂請求李先生協助管理其名下另一批涉及股票期貨與衍生工具的私人投資組合。由於李先生的事務繁忙,且其所屬公司並未獲發第 1 類牌照,李先生遂將張先生轉介予「卓越證券有限公司」的資深經紀人王小姐。張先生隨後在「卓越證券」開戶並進行頻繁交易,王小姐因此獲得可觀佣金。事後,王小姐與李先生達成協議,由王小姐從其佣金收入中撥出一部分作為「轉介服務費」支付予李先生。針對此情境,下列關於李先生法律責任的描述,哪一項最為準確? (i) 李先生收取轉介費的行為,在法律定義上屬於「誘使他人達成證券交易協議」,構成第 1 類受規管活動。 (ii) 由於李先生已持有第 9 類牌照,其轉介行為可被視為資產管理業務的「附帶性質」,因此自動獲得第 1 類牌照的豁免。 (iii) 李先生若要合法收取該筆費用,必須同時獲發第 1 類受規管活動的牌照或註冊。 (iv) 只要李先生未直接參與下單或提供具體投資建議,單純的客戶引薦行為不觸及《證券及期貨條例》下的牌照要求。 Mr. Lee is a licensed representative employed by "Hang Sun Asset Management Limited," holding a license for Type 9 regulated activity, and has focused on bond portfolio management for discretionary accounts for many years. Mr. Cheung, a long-term client of Mr. Lee, is extremely satisfied with his performance and requests Mr. Lee's assistance in managing another private investment portfolio under his name involving stock futures and derivatives. Due to Mr. Lee's busy schedule and the fact that his firm does not hold a Type 1 license, Mr. Lee refers Mr. Cheung to Ms. Wong, a senior broker at "Excellent Securities Limited." Mr. Cheung subsequently opens an account at "Excellent Securities" and engages in frequent trading, from which Ms. Wong earns substantial commissions. Afterwards, Ms. Wong and Mr. Lee reach an agreement whereby Ms. Wong allocates a portion of her commission income to pay Mr. Lee as a "referral service fee." Regarding this scenario, which of the following descriptions concerning Mr. Lee's legal liability is most accurate? (i) Mr. Lee's act of receiving a referral fee falls under the legal definition of "inducing others to enter into securities trading agreements," constituting Type 1 regulated activity. (ii) Since Mr. Lee already holds a Type 9 license, his referral activity can be considered "incidental" to his asset management business, thus automatically qualifying for an exemption from the Type 1 license requirement. (iii) If Mr. Lee wishes to legally receive this fee, he must simultaneously be licensed or registered for Type 1 regulated activity. (iv) As long as Mr. Lee does not directly participate in placing orders or providing specific investment advice, the mere act of client referral does not trigger the licensing requirements under the Securities and Futures Ordinance.

multiple_choice

6. 根據證券及期貨事務監察委員會發出的《打擊洗錢及恐怖分子資金籌集指引》,持牌機構在進行持續監察時,應特別留意客戶的交易模式。下列哪些活動屬於指引中提到的「可疑交易指標」,需要持牌機構進一步查核是否涉及隱瞞洗錢活動? (i) 一名在香港居住且資金來源清晰的知名富有商人,因資產配置需求而在同一持牌機構開立多個不同用途的子帳戶進行合法交易 (ii) 客戶頻繁進行多宗買賣交易,隨後將相關證券一次性轉讓或出售予另一名看似無關的第三方人士 (iii) 客戶利用相同數量的買賣指令營造交易活躍的假象,且相關指令的資金來源或最終受益人位於被國際組織列為高風險或毒品貿易盛行的地區 (iv) 客戶突然以大量現金、現金等價物或不尋常的支票支付方式進行大額證券認購,且與其申報的收入水平不符 According to the 'Guideline on Anti-Money Laundering and Counter-Financing of Terrorism' issued by the Securities and Futures Commission, licensed corporations should pay special attention to customer transaction patterns during ongoing monitoring. Which of the following activities are considered 'suspicious transaction indicators' mentioned in the guideline that require further investigation by the licensed corporation to determine if they involve concealed money laundering activities? (i) A well-known wealthy businessman residing in Hong Kong with a clear source of funds opens multiple sub-accounts for different purposes at the same licensed corporation for legitimate trading due to asset allocation needs (ii) A customer frequently conducts multiple buy and sell transactions, followed by a one-off transfer or sale of the relevant securities to an apparently unrelated third party (iii) A customer uses buy and sell orders of the same quantity to create a false impression of active trading, and the source of funds or the ultimate beneficial owner of the orders is located in a region identified by international organizations as high-risk or prevalent in drug trafficking (iv) A customer suddenly makes large-scale securities subscriptions using large amounts of cash, cash equivalents, or unusual cheque payment methods, which are inconsistent with their declared income level

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7. 根據《證券及期貨條例》的規定,關於證券及期貨事務監察委員會(證監會)對開放式基金型公司贖回股份的監管權力,下列哪項敘述是正確的? According to the provisions of the Securities and Futures Ordinance, which of the following statements is correct regarding the regulatory power of the Securities and Futures Commission (SFC) over the redemption of shares by Open-ended Fund Companies (OFCs)?

multiple_choice

8. 根據香港《證券及期貨條例》第V部關於發牌及註冊制度的規定,下列哪些人士或實體受該章節的條文所規管? (i) 獲授權代表持牌法團進行受規管活動的持牌代表 (ii) 在註冊機構內從事受規管活動的相關人士 (iii) 進行受規管活動的認可財務機構 (iv) 僅以個人身份參與證券買賣的專業投資者 --- According to Part V of the Securities and Futures Ordinance (SFO) regarding the licensing and registration regime, which of the following persons or entities are regulated by the provisions of that Part? (i) Licensed representatives accredited to a licensed corporation to carry on regulated activities (ii) Relevant individuals carrying on regulated activities within a registered institution (iii) Authorized financial institutions carrying on regulated activities (iv) Professional investors participating in securities trading purely in a personal capacity

multiple_choice

9. 根據香港《證券及期貨條例》第XIV部(刑事途徑)的規定,下列哪些行為屬於受規管的「市場失當行為」,並可能導致刑事起訴? (i) 某人蓄意或無視後果,藉著進行不涉及資產轉換的買賣,營造出某上市證券交投活躍的虛假或具誤導性的表象 (ii) 某大股東為了規避披露責任,透過多個不同名稱的離岸信託帳戶持有股份,以隱瞞其對上市公司的實際控制權 (iii) 某人蓄意或無視後果地披露、傳播或散佈虛假或具誤導性的資料,而該資料相當可能誘使他人進行證券交易 (iv) 某上市公司的董事與關聯股東達成協議,以低於市場的價格將公司的核心業務資產出售予其私人擁有的關聯企業 Under Part XIV (Criminal Provisions) of the Hong Kong Securities and Futures Ordinance, which of the following behaviors constitute regulated 'market misconduct' and may lead to criminal prosecution? (i) A person, intentionally or recklessly, creates a false or misleading appearance of active trading in a listed security by carrying out transactions that do not involve a change in beneficial ownership (ii) A substantial shareholder, in order to evade disclosure obligations, holds shares through multiple offshore trust accounts under different names to conceal his actual control over a listed company (iii) A person, intentionally or recklessly, discloses, disseminates or circulates false or misleading information that is likely to induce others to trade in securities (iv) A director of a listed company reaches an agreement with a connected shareholder to sell the company's core business assets at below-market prices to a related enterprise privately owned by the director

multiple_choice

10. 資深投資者李志明先生透過恒信證券以保證金交易方式,按每股 200 港元的價格購入 1,000 股領先科技的股份。根據協議,該筆交易的初始保證金比率為 10%,而剩餘的 90% 資金由經紀行提供貸款,年利率為 5%。 假設李先生持有該股票 73 天(即 0.2 年)後,以每股 260 港元的價格全數沽出。在不考慮印花稅、交易徵費及佣金的情況下,僅扣除融資利息成本,請計算李先生這筆投資的槓桿回報率(以倍數表示,即淨利潤除以初始投入本金)是多少? Experienced investor Mr. Li Chi-ming purchased 1,000 shares of Leading Technology at HK$200 per share through Hengxin Securities using margin trading. According to the agreement, the initial margin ratio for this transaction is 10%, and the remaining 90% of the funds are provided as a loan by the brokerage firm at an annual interest rate of 5%. Assuming Mr. Li held the shares for 73 days (i.e., 0.2 years) and then sold all of them at HK$260 per share. Excluding stamp duty, transaction levies, and commissions, and deducting only the financing interest costs, what is the leveraged return on investment (expressed as a multiple, i.e., net profit divided by initial capital invested)?

multiple_choice

Practice Questions

From: HKSI 卷一 基本證券及期貨規例題庫|Paper 1 一次過合格

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1
客戶拒絕透露收入及投資目標,但要求即日購買高風險產品。 下列哪項最準確? A client refuses to disclose income and investment objectives but wants to buy a high-risk product that day. Which statement is most accurate?
A中介人須採取合理步驟確立客戶真實及完整身份,並取得足夠資料了解財政狀況、經驗、目標、知識及風險承受能力。 An intermediary must take reasonable steps to establish the client's true and full identity and obtain sufficient information on financial situation, experience, objectives, knowledge and risk tolerance.
B只要客戶願意交易,中介人可不問財政狀況或投資目標,以免影響銷售,客戶要求即日成交更可視為已同意豁免有關評估。 If the client wants to trade, the intermediary may avoid asking about financial situation or objectives to protect sales, and a same-day request counts as consent to waive that assessment.
C客戶提供名片已足以取代身份核實及實益擁有人了解,只要名片印有公司職銜及地址,便足以證明資金來源合法。 A business card is enough to replace identity verification and beneficial-owner understanding; a card showing a job title and address suffices to prove the funds are lawfully sourced.
DKYC 只適用於新手客戶,資深客戶可永久免除,客戶只要曾買賣高風險產品,便自動取得永久豁免的資深身分。 KYC applies only to novice clients; experienced clients are permanently exempt, and anyone who has once traded a high-risk product automatically acquires that permanent exemption.
2
新型代幣化投資安排推出後,題目問哪位官員可藉公告調整其是否屬相關法定概念。 下列哪項最準確? After a tokenised investment arrangement is introduced, the question asks which official may declare its statutory classification by notice. Which statement is most accurate?
A界定或宣布某些權益是否屬證券、期貨合約或集體投資計劃的特定公告權,屬財政司司長的法定權力。 The specific notice power to declare whether certain interests are securities, futures contracts or CIS belongs to the Financial Secretary.
B證監會可自行以內部通告永久改寫附表定義,毋須任何憲報公告,亦毋須立法會或財政司司長事先參與。 The SFC may permanently rewrite Schedule definitions by internal circular without any Gazette notice, and without prior involvement of the Legislative Council or the Financial Secretary.
C香港交易所可因應新產品上市,自動把任何產品列為證券或期貨合約,並即時取得等同憲報公告的法定效力。 HKEX may automatically classify any product as securities or futures contracts when a new product is listed, and that classification immediately carries the legal force of a Gazette notice.
D律政司司長負責按個案宣布所有金融產品是否屬集體投資計劃,證監會與財政司司長均無權作出此類公告。 The Secretary for Justice declares case by case whether all financial products are CIS, and neither the SFC nor the Financial Secretary has power to make such a notice.
3
根據香港法例第571Q章《證券及期貨(成交單據、收據及報表)規則》,持牌法團在為客戶進行證券保證金融資交易後,必須編製並向客戶提供日結單。下列關於日結單必須載有之資料的描述,哪一項並非法定必須載列的內容? (i) 於該日營業時間結束時,該帳戶所持有的每種證券及抵押品的數量、市場價格及市場價值 (ii) 於該日營業時間開始及結束時,該帳戶的尚待結算結餘及全部結餘 (iii) 該持牌法團向客戶提供保證金融資的具體授信限額及相關利息計算條款概要 (iv) 於該日營業時間結束時,該帳戶內每種證券抵押品的保證金價值及適用的扣減率 Under the Securities and Futures (Contract Notes, Statements of Account and Receipts) Rules (Cap. 571Q) of Hong Kong, after a licensed corporation conducts a securities margin financing transaction for a client, it must prepare and provide the client with a daily statement of account. Which of the following is NOT information that the daily statement is statutorily required to contain? (i) The quantity, market price and market value of each type of security and collateral held in the account at the close of business on that day. (ii) The unsettled balance and the total balance of the account at the opening and at the close of business on that day. (iii) A summary of the specific credit limit granted by the licensed corporation to the client for margin financing and of the relevant interest calculation terms. (iv) The margin value and the applicable haircut percentage of each type of securities collateral in the account at the close of business on that day.
A(i), (iv)
B(iii)
C(ii), (iii)
D(iv)
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