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Free Practice Questions for JSC Legislation Exam

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Key Facts: JSC Legislation Exam Exam

100 JOD

First-attempt fee for the JSC Financial Legislation Examination, paid via eFAWATEERcom

JSC circular of 14 September 2026 (News/ar/12722)

10:00 a.m.

Start time announced for the 30 June 2026 and 30 September 2026 sittings at JSC headquarters

JSC circulars News/ar/12641 and News/ar/12722

MCQ

Official item type described as اختيار من متعدد (multiple choice)

JSC exam circulars and إرشادات الامتحان PDF

Not accreditation

JSC states that passing this exam does not accredit a natural person to practise financial services

JSC circular of 14 September 2026, exam guidance point 8

750,000 JOD

Minimum paid-in capital for a licensed financial broker under Regulation No. 17 of 2018

Regulation No. 17 of 2018, Article 4(d)

25 JOD

Annual JSC fee for each natural-person accreditation in the local market or on foreign exchanges

Fee Regulation No. 117 of 2019

40%

Takeover-bid threshold for acquiring securities of a public issuer under Securities Law No. 18 of 2017

Securities Law No. 18 of 2017, Article 45(a)

Article 51

No person may act as investment manager and investment trustee for the same account or client

Securities Law No. 18 of 2017, Article 51

Jordan's JSC Financial Legislation Examination (امتحان التشريعات المالية) is an Arabic multiple-choice paper on named capital-market statutes, held at JSC headquarters on announced 2026 dates starting at 10:00 a.m., with a first-attempt fee of 100 JOD and one free retake. JSC has not published the item count, duration or pass mark. A pass is not natural-person accreditation. This 100-question bank is independent English-language MCQ practice covering the published 2026 reading list.

Sample JSC Legislation Exam Practice Questions

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

1Under Article 3 of Jordan's Securities Law No. 18 of 2017 (قانون الأوراق المالية), which of the following is treated as a security?
A.A bank cheque payable to a named payee
B.Transferable shares of a company
C.An insurance policy funded by the insurer's own capital
D.A documentary credit used only among banks
Explanation: Article 3 lists transferable company shares among the instruments that are securities. The same article also covers corporate bonds, government and municipal securities, depositary receipts, mutual-fund shares or units, share-option bonds, spot and forward contracts, and call and put options. Commercial paper, interbank instruments, and insurance or pension rights funded other than from participants' contributions are excluded by Article 4, not Article 3.
2Under Article 4 of Securities Law No. 18 of 2017, which instrument is not a security?
A.Commercial paper (الأوراق التجارية), including cheques and bills of exchange (الكمبيالات)
B.Units in a mutual fund
C.Call and put options
D.Government and municipality securities
Explanation: Article 4(a) states that commercial paper (الأوراق التجارية), including cheques and bills of exchange (الكمبيالات), is not a security. Article 4(b) and (c) then exclude documentary credits and interbank-only instruments, and insurance policies and pension rights funded other than from participants' contributions. Mutual-fund units, options, and government or municipal securities fall inside Article 3. Keeping the two articles distinct stops candidates from treating every negotiable instrument as a capital-market security.
3Article 4 of Securities Law No. 18 of 2017 also excludes which of the following from the definition of securities?
A.Depositary receipts representing shares
B.Corporate bonds issued by a public shareholding company
C.Insurance policies and pension rights funded other than from participants' contributions
D.Spot and forward contracts in securities
Explanation: Article 4 excludes insurance policies and pension rights that are funded other than from participants' contributions. Depositary receipts, corporate bonds, and spot or forward contracts are securities under Article 3. The exclusion is about the funding source of the insurance or pension right, not about every long-term savings product.
4Under Article 7 of Securities Law No. 18 of 2017, how is the Jordan Securities Commission (هيئة الأوراق المالية) constituted?
A.A government department inside the Ministry of Finance with its headquarters in Aqaba
B.A legal person with financial and administrative independence, linked to the Prime Minister, with headquarters in Amman
C.A private shareholding company owned by the Amman Stock Exchange
D.A committee of the Central Bank of Jordan with no separate legal personality
Explanation: Article 7 establishes the JSC as a legal person with financial and administrative independence. It is linked to the Prime Minister and has its headquarters in Amman. That status explains why the Commission can licence firms, set fees, and regulate the market without being a commercial trader itself.
5Article 8(a) of Securities Law No. 18 of 2017 sets three statutory objectives for the JSC. Which set matches the Law?
A.Maximise listing fees, promote bank credit, and own listed shares
B.Guarantee investor profits, set income-tax rates, and operate a brokerage
C.Replace the Central Bank, licence insurance companies, and issue currency
D.Protect securities investors; regulate and develop the capital market for fairness, efficiency and transparency; and protect the capital market from risks
Explanation: Article 8(a) names three objectives: protect securities investors; regulate and develop the capital market to achieve fairness, efficiency and transparency; and protect the capital market from risks. Article 8(b) then lists tools such as regulating issuance and dealing, issuer disclosure, licensing and accreditation, solvency standards, and regulation of the market, the SDC, mutual funds, and investment companies.
6Article 9 of Securities Law No. 18 of 2017 prohibits the JSC from which of the following?
A.Carrying on commercial business, contributing to commercial projects, lending money, or owning or issuing securities
B.Licensing brokers or accrediting natural persons
C.Approving mutual funds or registering securities
D.Inspecting the records of licensed persons
Explanation: Article 9 bars the JSC from carrying on commercial business, contributing to commercial projects, lending money, or owning or issuing securities. Licensing, fund approval, registration, and inspection are regulatory powers, not commercial dealing. The Commission regulates the market; it does not trade in it.
7Which of the following is among the Board of Commissioners' powers under Article 12 of Securities Law No. 18 of 2017?
A.Issue corporate bonds in the Commission's own name
B.Lend working capital to newly licensed brokers
C.Approve over-the-counter trading, listing of Jordanian securities abroad, registration of securities, suspension of dealing, approval of mutual funds, and grant, restriction, suspension or cancellation of licences and accreditations
D.Act as investment manager for government portfolios
Explanation: Article 12 gives the Board general policy powers and specific tools: OTC trading approval, listing Jordanian securities abroad, registering securities, suspending dealing, approving mutual funds, granting, restricting, suspending or cancelling licences and accreditations, and setting related fees. Those are supervisory powers. Article 9 still forbids the Commission from commercial business, lending, or owning or issuing securities.
8Article 47(a) of Securities Law No. 18 of 2017 provides that no person may practise which of the following without a Board licence?
A.Only financial brokerage, while dealers and advisers need no licence
B.Financial broker, dealer, investment trustee, investment manager, financial adviser, issuance manager, custodian, or other Board-specified securities business
C.Only banks' foreign-exchange desks
D.Only the Amman Stock Exchange's listing department
Explanation: Article 47(a) requires a Board licence before a person may practise as financial broker, dealer, investment trustee, investment manager, financial adviser, issuance manager, custodian, or any other securities business the Board specifies. Regulation 17 of 2018 then names those businesses in more detail, including margin financier and securities lending agent.
9Under Article 47(b) of Securities Law No. 18 of 2017, a natural person who will practise a licensed securities business must be:
A.Accredited by the Jordan Securities Commission
B.Appointed only by the Central Bank of Jordan
C.Exempt from any individual authorisation if the firm is licensed
D.Registered solely at the Companies Control Department
Explanation: Article 47(b) requires a natural person to be accredited by the JSC. Article 47(c) adds that a regulation will set the nature of the businesses, licence requirements, accreditation conditions, training and experience, and may require an examination. Passing the Financial Legislation Examination does not, by itself, confer that accreditation.
10A firm proposes to act at the same time as investment manager and investment trustee for the same client account. Which statement matches Securities Law No. 18 of 2017?
A.Article 52 allows the dual role if both names appear on the public register
B.Article 110 is the provision that forbids combining the two roles
C.Article 51 forbids acting as investment manager and investment trustee for the same account or the same client; Article 52 instead requires a public register of licensed and accredited persons
D.The combination is required so that one firm can both manage and oversee the same portfolio
Explanation: Article 51 is the dual-role ban: no person may at the same time act as investment manager and investment trustee for the same account or the same client. Article 52 is the public register of names and addresses of licensed and accredited persons, available for public inspection. Licensing Instructions of 2005 Article 32 and Mutual Funds Regulation 115 of 2018 Article 15 repeat related conflict rules for the same account or the same fund.

About the JSC Legislation Exam Exam

The Financial Legislation Examination (امتحان التشريعات المالية) is the Jordan Securities Commission's Arabic multiple-choice paper on the statutes that govern Jordan's capital market. JSC circulars in 2025 and 2026 schedule sittings at Commission headquarters, charge 100 JOD for a first attempt, and publish a reading list that includes Securities Law No. 18 of 2017, Foreign Exchanges Law No. 1 of 2017, Companies Law No. 22 of 1997, Licensing and Accreditation Regulation No. 17 of 2018, Mutual Funds Regulation No. 115 of 2018, Solvency Regulation No. 18 of 2024, client-money segregation and margin-financing instructions, plus Amman Stock Exchange and Securities Depository Center rules. The Commission states that a pass does not by itself accredit a natural person to act as a financial broker, investment manager, financial consultant or investment trustee. Those activity labels are Board accreditations under Regulation No. 17 of 2018, not separate JSC licensing papers. This bank is an independent English-language multiple-choice study adaptation. It is not an official translation, not a simulation of the Arabic sitting, and not a substitute for CISI pathway exams or the Amman Stock Exchange practical exam for local brokers.

Exam sponsor: Jordan Securities Commission (هيئة الأوراق المالية). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

One JSC-administered multiple-choice sitting on announced dates at Commission headquarters. The official reading list groups statutes hosted on the JSC, Amman Stock Exchange and Securities Depository Center websites. Passing does not itself grant natural-person accreditation; accreditation remains a Board decision under Regulation No. 17 of 2018 after training, fees and fit-and-proper checks. Local brokerage accreditation additionally requires a practical exam held by the Amman Stock Exchange in coordination with JSC (2019 Bases, Article 3).

Time Limit

Not published. 2026 sittings have been announced to start at 10:00 a.m. at JSC headquarters; candidates must arrive 30 minutes early.

Passing Score

Not published by the Jordan Securities Commission

Exam / Certification Fees

100 JOD for a first attempt via eFAWATEERcom after JSC approves the application; one free retake if unsuccessful (JSC circular of 14 September 2026)

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.

JSC-hosted statutes

Securities Law, licensing regulation and natural-person accreditation

Securities Law No. 18 of 2017 (JSC objectives, what is a security, licensing under Article 47, the Article 51 ban on acting as investment manager and investment trustee for the same client, the public register, takeover bids at 40%, insider-information definitions, Board powers) and Regulation No. 17 of 2018 (activity list, paid-in capital floors, Articles 19–20 accreditation conditions).

JSC-hosted statutes

Broker, manager, trustee and adviser conduct

Licensing Instructions of 2005 (independent client accounts, monthly IM reports, trustee notification duties, adviser must not guarantee results), client-money segregation instructions (Board Decision 461/2013), and Margin Financing Instructions of 2018 (initial margin, maintenance-margin formula, two-business-day cure, forced sale).

JSC-hosted statutes

Foreign exchanges, mutual funds, solvency, AML and companies law

Foreign Exchanges Law No. 1 of 2017 (banks and licensed financial-services companies only; imprisonment of at least one year and a 5,000–100,000 JOD fine for illegal intermediation), 2019 foreign-exchange instructions (75% net-equity ratio; summed capital), Mutual Funds Regulation No. 115 of 2018 (NAV and unit value; trustee monitoring; no attachment of fund assets for a unitholder's debts), Solvency Regulation No. 18 of 2024, AML Instructions of 2018, and Companies Law No. 22 of 1997 reserve rules.

ASE- and SDC-hosted statutes

Amman Stock Exchange and Securities Depository Center rules

ASE membership, listing, trading and disclosure instructions listed on the exam reading list, and SDC Instructions for Registration, Deposit and Settlement of Securities of 2017, including delivery-versus-payment settlement and the Settlement Guarantee Fund.

Preparing for the JSC Legislation Exam Exam

What You Need to Know

  • Passing score: Not published by the Jordan Securities Commission
  • Assessment: One JSC-administered multiple-choice sitting on announced dates at Commission headquarters. The official reading list groups statutes hosted on the JSC, Amman Stock Exchange and Securities Depository Center websites. Passing does not itself grant natural-person accreditation; accreditation remains a Board decision under Regulation No. 17 of 2018 after training, fees and fit-and-proper checks. Local brokerage accreditation additionally requires a practical exam held by the Amman Stock Exchange in coordination with JSC (2019 Bases, Article 3).
  • Time limit: Not published. 2026 sittings have been announced to start at 10:00 a.m. at JSC headquarters; candidates must arrive 30 minutes early.
  • Exam / certification fees: 100 JOD for a first attempt via eFAWATEERcom after JSC approves the application; one free retake if unsuccessful (JSC circular of 14 September 2026) Official sources

Using Our Practice Resources

  • Work through all 100 available questions
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  • Track weak areas and revisit them
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JSC Legislation Exam: Suggested Study Strategy

1Study from JSC's published reading list, not from a generic international securities textbook. The 2026 circulars name specific Jordanian laws, regulations and instructions hosted on jsc.gov.jo, ase.com.jo and sdc.com.jo.
2Memorise the Regulation No. 17 of 2018 Article 4(d) paid-in capital floors as a table: financial consultant 30,000 JOD; investment trustee and issuance trustee 50,000 JOD each; dealer and best-efforts issuance manager 500,000 JOD each; financial broker 750,000 JOD; investment manager, custodian, margin financier and securities lending and borrowing agent 1,000,000 JOD each; firm-commitment issuance manager 5,000,000 JOD. Article 4(e) then requires an applicant for two or more activities to hold at least the sum of the relevant floors.
3Keep the 2017 article numbers straight: Article 47 is licensing of activities, Article 51 is the ban on acting as investment manager and investment trustee for the same client, Article 52 is the public register, and Article 45 is the 40% takeover-bid rule.
4Practise the maintenance-margin formula in the 2018 instructions: (market value of margined securities minus amounts granted including interest and commissions) divided by that market value. Board-set percentage rates change by circular, so learn the formula rather than a frozen rate.
5Remember JSC's own warning: a pass on this paper is not accreditation. After the exam you still need Board accreditation, the 25 JOD annual natural-person fee per activity under Fee Regulation No. 117 of 2019, and any CISI or ASE practical requirements that apply to your role.

Frequently Asked Questions

What is the JSC Financial Legislation Examination?

It is امتحان التشريعات المالية, an Arabic multiple-choice paper administered by the Jordan Securities Commission on announced dates at its Amman headquarters. The syllabus is a published list of Jordanian capital-market statutes. JSC circulars state that passing it does not by itself accredit a person to practise financial services.

How many questions are on the official exam, and what is the pass mark?

JSC has not published the item count, the duration, or a numeric pass mark. Official notices describe the paper only as multiple choice (اختيار من متعدد) drawn from the attached legislation list.

How much does the exam cost in 2026?

100 Jordanian dinars for a first attempt, paid through eFAWATEERcom after JSC emails an approval and payment reference. A candidate who does not pass may sit once more at no charge. Registration deadlines are stated in each sitting circular (for the 30 September 2026 sitting, payment closed on 28 September 2026).

Are there separate JSC exams for financial broker, financial consultant, investment manager and investment trustee?

No. Those names are licensed activities and natural-person accreditations under Regulation No. 17 of 2018. The JSC-administered knowledge paper for people seeking those accreditations is this shared Financial Legislation Examination. Local brokerage also requires a practical exam at the Amman Stock Exchange, and the 2019 Bases additionally refer to CISI exams listed in a JSC guide.

In what language is the official exam?

JSC publishes the circulars, registration form and legislation list in Arabic and holds the paper at its headquarters. The Commission has not announced an official English sitting. This practice bank is an English-language multiple-choice study adaptation, not an official translation.

Is this practice bank an official JSC resource?

No. OpenExamPrep publishes independent English-language multiple-choice practice for the named exam and topics. It is not affiliated with the Jordan Securities Commission, is not an official translation or format simulation, and does not replace studying the Arabic statutory texts or completing JSC training and accreditation steps.