PracticeVideosBlogFlashcards
All Practice Exams

Free Practice Questions for Guokao CSRC Securities

Exam-style questions and explanations by OpenExamPrep.

✓ No registration✓ No credit card
100+ Questions
100% Free

Loading practice questions...

Same family resources

Explore More China National Civil Service Examination (Guokao / 国考)

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

Guokao — 8 Non-Universal Foreign Languages Test (国考 8个非通用语职位外语水平测试, China)

Practice Questions100 questions

Guokao — Administrative Aptitude Test (国考 行测, China)

Practice Questions100 questions

Guokao — Essay / Shenlun (国考 申论, China)

Practice Questions100 questions

Guokao — NFRA Banking & Insurance Regulatory Professional Subject (国考 金融监管专业科目, China)

Practice Questions100 questions

Guokao — Public Security Professional Subject (国考 公安专业科目, China)

Practice Questions100 questions
Exam Review

Key Facts: Guokao CSRC Securities Exam

100

Multiple-choice questions on exam

CSRC & SCS Examination Blueprint

120 mins

Official examination duration

National Civil Service Exam Schedule

50%

Weight of Professional Subject in written total

CSRC Guokao Recruitment Rules

5 Years

Max shareholder capital payment window under 2023 Company Law

PRC Company Law (2023 Revision)

RMB 1.00

Trading delisting threshold (20 consecutive days)

SSE & SZSE Listing Rules

1/3

Minimum proportion of Independent Directors on listed board

CSRC Independent Director Administrative Measures

The Guokao CSRC professional subject is a 120-minute specialized civil-service paper with separate finance, accounting, law, and computer outlines. This 100-question practice adaptation samples all four areas while emphasizing securities markets and law.

Sample Guokao CSRC Securities Practice Questions

Try these sample questions to review concepts for the Guokao CSRC Securities exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In China's multi-tier capital market architecture (多层次资本市场体系), what is the primary market positioning and core service objective of the Main Board (主板) of the Shanghai and Shenzhen Stock Exchanges?
A.Serving mature, large-scale enterprises with established business models, stable operating performance, and large capitalization
B.Focusing exclusively on early-stage 'hard tech' startups that have not yet achieved commercial profitability
C.Specializing in innovation-oriented small and medium-sized enterprises (SMEs) graduated from regional equity markets
D.Providing an unlisted equity quotation system for unpublicized private micro-enterprises
Explanation: Under China's comprehensive registration-based reform, the Main Board (主板) at the Shanghai and Shenzhen Stock Exchanges is specifically positioned to serve large, mature enterprises with proven business models, stable profitability or large operating scale, and strong industry representativeness. In contrast, the STAR Market focuses on 'hard tech', ChiNext serves growth-oriented innovative enterprises, and the Beijing Stock Exchange serves innovation-oriented SMEs.
2Under China's Comprehensive Registration-Based IPO System (全面实行股票发行注册制), what is the core shift in the division of responsibilities between Stock Exchanges and the China Securities Regulatory Commission (CSRC)?
A.Stock exchanges conduct comprehensive substantive listing reviews; CSRC focuses on legal/regulatory compliance registration and supervisory oversight
B.CSRC conducts on-site engineering audits; stock exchanges only handle secondary market trading clearance without review powers
C.Stock exchanges determine government industrial quotas, while CSRC guarantees the investment profitability of all newly listed shares
D.Local municipal governments conduct initial approvals, eliminating all statutory filing requirements at both exchanges and CSRC
Explanation: The core design of China's comprehensive registration system establishes that stock exchanges undertake the comprehensive substantive review of IPO applications focusing on information disclosure adequacy, while the CSRC is responsible for regulatory registration (注册), ensuring compliance with national policies, legal consistency, and overall market integrity without endorsing commercial investment value.
3Which of the following strategic industry criteria is central to the listing evaluation on the Science and Technology Innovation Board (STAR Market / 科创板) of the Shanghai Stock Exchange?
A.Alignment with 'Hard Technology' (硬科技) sectors such as semiconductors, advanced equipment, new materials, and biomedicine
B.Exclusivity to traditional real estate development and civil engineering contractors
C.Requirement that all applicants operate as state-owned financial holding companies
D.Limitation to consumer retail businesses with nationwide physical franchise chains
Explanation: The STAR Market (科创板) was established by the SSE to support 'hard tech' (硬科技) enterprises in strategic emerging industries, including next-generation information technology, high-end equipment manufacturing, advanced materials, new energy, energy conservation/environmental protection, and biomedicine.
4What is the official market positioning guideline for the ChiNext board (创业板) of the Shenzhen Stock Exchange?
A.Three Innovations and Four Modernizations (三创四新: innovation, creativity, creativeness; deep integration with traditional industries)
B.Exclusively serving ultra-large state-owned resource monopolies
C.Focusing solely on foreign sovereign wealth funds and sovereign bond trading
D.Providing a distressed debt restructuring clearinghouse for bankrupt state enterprises
Explanation: The ChiNext board (创业板) focuses on the 'Three Innovations and Four Modernizations' (三创四新): encouraging innovation, creativity, and creativeness (创新、创造、创意), while facilitating the deep integration of new technologies, new industries, new business formats, and new business models with traditional industries.
5Before an enterprise can apply for an initial public offering (IPO) and listing on the Beijing Stock Exchange (BSE / 北交所), what prerequisite listing history on the National Equities Exchange and Quotations (NEEQ / 新三板) is required?
A.It must have been a listed company on the NEEQ Innovation Layer (创新层) continuously for at least 12 months
B.It must have traded on the NEEQ Base Layer (基础层) for at least 5 consecutive years without any capital increase
C.It must have completed an offshore dual listing on HKEX within the preceding 6 months
D.No prior listing history on NEEQ is required as BSE accepts direct unlisted applications from any startup
Explanation: Under the listing rules of the Beijing Stock Exchange (北交所), an issuer applying for public offering and listing on the BSE must be a company that has been continuously listed on the Innovation Layer (创新层) of the NEEQ (新三板) for at least 12 consecutive months.
6In China's stock exchange secondary trading system, what are the primary order execution priority principles during continuous auction (连续竞价) trading sessions?
A.Price priority first (higher buy price / lower sell price), followed by time priority for identical prices
B.Time priority first regardless of price, followed by account capital size
C.Client type priority (institutional orders executed before retail orders regardless of price)
D.Brokerage capital size priority (orders from Tier-1 securities firms executed ahead of regional brokers)
Explanation: Under the trading rules of the Shanghai, Shenzhen, and Beijing Stock Exchanges, order matching during continuous auction follows the fundamental principle of 'Price Priority, Time Priority' (价格优先、时间优先): buy orders with higher prices and sell orders with lower prices take precedence; among orders with identical prices, the earlier submitted order takes precedence.
7What is the standard daily price fluctuation limit (涨跌幅限制) applied to regular stocks trading on the STAR Market (科创板) and ChiNext (创业板), excluding their initial post-listing grace periods?
A.±20%
B.±10%
C.±5%
D.±30%
Explanation: Under current exchange rules, regular stocks listed on the STAR Market (SSE) and ChiNext (SZSE) are subject to a daily price limit of ±20% (with no price limit during the first 5 trading days after IPO listing). Regular Main Board stocks have a ±10% limit (±5% for ST/*ST), and BSE stocks have a ±30% limit.
8In margin trading and short selling operations (融资融券交易), how is the Maintenance Margin Ratio (维持担保比例) calculated?
A.(Cash + Market Value of Collateral Securities in Account) / (Total Margin Borrowing + Market Value of Shorted Securities + Accrued Interest & Fees) × 100%
B.(Cash in Account) / (Total Stock Market Value) × 100%
C.(Total Margin Borrowing) / (Total Equity Value of Brokerage Firm) × 100%
D.(Market Value of Collateral) / (Net Capital of CSRC Investor Protection Fund) × 100%
Explanation: The Maintenance Margin Ratio (维持担保比例) measures the solvency of a margin trading account and is defined as: (Cash deposited + Market value of all collateral securities held in the margin account) / (Total financing margin borrowed + Current market value of borrowed securities sold short + Accrued interest and fees) × 100%.
9In China's capital market settlement infrastructure, what role does the China Securities Depository and Clearing Corporation (CSDC / 中国结算) fulfill when applying the Central Counterparty (CCP / 中央对手方) mechanism?
A.It interposes itself between buyers and sellers, becoming the legal buyer to every seller and the legal seller to every buyer via novation
B.It acts purely as a passive commercial escrow agent without legal novation or settlement finality
C.It mandates that buyers and sellers transfer physical currency banknotes directly to exchange floor runners
D.It assumes equity ownership of all listed companies and exercises absolute board voting control
Explanation: As the Central Counterparty (CCP), CSDC executes novation (合约更替) for exchange-traded securities: it interposes itself between clearing participants, legally becoming the buyer to every clearing seller and the seller to every clearing buyer, guaranteeing settlement finality and absorbing counterparty credit risk.
10Under the Shanghai/Shenzhen-Hong Kong Stock Connect programs (沪深港通), which trading flow is referred to as 'Northbound Trading' (北向交易 / 陆股通)?
A.Hong Kong and international investors routing orders through HKEX participants to trade eligible A-shares listed on SSE and SZSE
B.Mainland Chinese domestic investors routing orders through mainland brokers to buy shares listed on HKEX
C.Mainland corporate treasuries purchasing US Treasury bills through Shanghai branch offices
D.Foreign institutional investors trading offshore RMB bonds exclusively in London
Explanation: In Stock Connect terminology, 'Northbound Trading' (北向交易 / 陆股通) refers to Hong Kong and international investors investing in eligible mainland Chinese A-shares listed on the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) through the Hong Kong Stock Exchange. 'Southbound Trading' (南向交易 / 港股通) refers to mainland investors investing in eligible HKEX-listed stocks.

About the Guokao CSRC Securities Exam

The National Civil Service Examination — CSRC Securities Regulatory Professional Subject (中国证券监督管理委员会职位专业科目笔试) is the specialized 120-minute paper for applicants to CSRC positions. The CSRC publishes distinct finance, accounting, law, and computer outlines. This single English-language MCQ bank is a cross-track study sampler, not an official translation, fixed item-count claim, or exact simulation of any one track.

Exam sponsor: China Securities Regulatory Commission (CSRC) & State Civil Service Bureau (SCS). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Question count varies by exam level

Time Limit

120 minutes

Passing Score

Composite ranking cutoff (50% General Public Subjects + 50% Professional Subject)

Exam / Certification Fees

Set by the applicant's examination jurisdiction

Exam sponsor website

Reported exam pass rate: Competitive and position-specific; consult the current recruitment notice. Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

30% of this study bank

Securities Market Mechanics & Multi-Tier Capital Markets (证券基础与资本市场体系)

Multi-tier market structure (Main Board, ChiNext, STAR Market, BSE, NEEQ), registration-based IPO reform, exchange trading mechanisms, CCP clearing and DVP settlement, bonds, funds, derivatives, and settlement systems.

35% of this study bank

Securities Laws, Regulations & Regulatory Compliance (证券法律法规与监管框架)

PRC Securities Law (2019), PRC Company Law (2023), Futures and Derivatives Law, CSRC regulatory enforcement powers, insider trading, market manipulation, gatekeeper duties, and penalty rules.

30% of this study bank

Listed Company Oversight, Governance & Financial Analysis (上市公司监管与财务分析)

Periodic and ad-hoc information disclosure standards, governance, M&A, accounting quality analysis, and investor protection. This is a study-bank allocation, not an official track percentage.

5% of this study bank

Computer & Information Technology (计算机类)

Five introductory questions on secure coding, transport security, cryptography, disaster recovery, and least privilege; the official computer outline is broader.

Preparing for the Guokao CSRC Securities Exam

What You Need to Know

  • Passing score: Composite ranking cutoff (50% General Public Subjects + 50% Professional Subject)
  • Assessment: Question count varies by exam level
  • Time limit: 120 minutes
  • Exam / certification fees: Set by the applicant's examination jurisdiction Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Guokao CSRC Securities: Suggested Study Strategy

1Master the distinct market positioning: Main Board (large blue chips), STAR Market ('hard tech'), ChiNext ('three innovations, four modernizations'), and BSE (innovation SMEs).
2Memorize the legal thresholds in PRC Securities Law: 5% holding threshold for block disclosure (举牌), 6-month short-swing profit disgorgement rule (短线交易), and 30% mandatory tender offer threshold.
3Understand the 2023 Company Law amendments: 5-year maximum capital contribution deadline, board audit committee replacing supervisors, and horizontal piercing of corporate veil.
4Drill the four mandatory delisting dimensions: trading criteria (<1 RMB for 20 days), financial criteria (revenue < RMB 300M with loss), compliance criteria, and major violation forced delisting.
5Master financial statement fraud red flags: 'Big Cash, Big Debt' (大存大贷), high other receivables (fund occupation), R&D over-capitalization, and abnormal gross profit margins.
6Learn the Special Representative Litigation mechanism (证券纠纷特别代表人诉讼): CSISC investor service center as representative with the 'opt-out' rule (默示加入、明示退出).

Frequently Asked Questions

What is the CSRC Securities Regulatory Professional Subject examination?

The CSRC Securities Regulatory Professional Subject (中国证券监督管理委员会职位专业科目笔试) is an official specialized exam in China's National Civil Service Examination (Guokao). It is required for positions at CSRC headquarters and local regulatory bureaus (监管局), assessing candidates across securities market mechanics, capital market laws, financial accounting, and regulatory compliance.

How is the final written score calculated for CSRC Guokao positions?

For CSRC specialized positions, the written exam composite score is calculated with a 50%-50% weighting: the two general public subjects (Administrative Aptitude Test / 行测 and Essay / 申论) together account for 50% (25% each), and the CSRC Professional Subject (专业科目) accounts for the remaining 50%.

What are the three main modules covered on the CSRC exam?

The CSRC publishes separate professional outlines for finance, accounting, law, and computer positions. This single English-language bank is a cross-track MCQ study sampler; its 30/35/30/5 distribution is not an official blueprint percentage.

What key legislative reforms are tested in the 2026 exam cycle?

Key focus areas include the PRC Securities Law (2019 revision), the PRC Company Law (2023 revision, effective July 2024), the PRC Futures and Derivatives Law (2022), the comprehensive registration-based IPO reform (全面实行股票发行注册制), the upgraded Independent Director system, and revised delisting rules.

What is the format and duration of the CSRC Professional Subject exam?

The official 2026 recruitment materials schedule a 120-minute professional paper. The official landing page and outlines reviewed do not establish the fixed 100-item, one-point-per-item claim previously shown here.