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Exam Review

Key Facts: AMIB Operador de Dinero Exam

205

Questions on the Serie 240 exam

AMIB Guía de Certificación v8.3

4h 22m

Exam duration

AMIB Guía de Certificación v8.3

3

Mandatory areas: Ética, Títulos de Deuda and Sistemas de Negociación

AMIB Guía de Certificación v8.3

600 / 1,100

Minimum score overall and in each mandatory area

AMIB Guía de Certificación v8.3

The AMIB Serie 240 exam has 205 questions in 4 hours 22 minutes; candidates need 600 points on a 200–1,100 scale overall and in the mandatory Ética, debt and money-market systems areas.

Sample AMIB Operador de Dinero Practice Questions

Try these sample questions to review concepts for the AMIB Operador de Dinero exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 105+ question experience with AI tutoring.

1Operators from two competing banks agree by private chat on the rates both will bid in Banco de México's next CETES auction. How does the Código de Ética Profesional de la Comunidad Bursátil Mexicana view this?
A.As acceptable, because each bank still submits its own bid to Banco de México
B.As acceptable if the agreement is only verbal and never put in writing
C.As a breach: coordinated bids do not come from free supply and demand
D.As a breach only if both banks end up being allotted securities
Explanation: Principle 2 of the Code forbids activities that create false conditions of supply or demand, alter rates, or do not derive from the free interplay of supply and demand. Coordinating bids with a competitor undermines the formation of rates in the auction, whatever the outcome of the allotment.
2Minutes before the price vendors' cutoff, an operator posts aggressive bids for a bond on a broker screen, with no intention of trading, to lift the valuation of his desk's position. How is this treated?
A.A breach: it fakes demand to move the price, as the Code and LMV forbid
B.As acceptable, because bids shown on broker screens are only indicative
C.As acceptable if the desk's risk area approves it in advance
D.As a breach only if another participant actually hits one of the bids
Explanation: Principle 2 of the Code forbids creating false conditions of supply or demand that influence prices or rates, and Article 370 of the LMV prohibits manipulating the market, that is, artificially changing prices to obtain a benefit. Distorting the prices used for valuation harms every investor who relies on them.
3A corporate client asks the operator to book a reporto at a rate far from the market so that a gain shifts from one of its accounts to another. What do the LMV and the Code require?
A.Book it, since both accounts belong to the same corporate client
B.Book it, provided the client signs a letter accepting the rate
C.Book it at the requested rate, but report it to the CNBV at month-end
D.Refuse: operations on terms far from market practice are forbidden
Explanation: Article 197 of the LMV forbids casas de bolsa from agreeing operations on terms that depart significantly from sound market practices, and principle 1 of the Code requires professionals to abstain from executing instructions contrary to the rules and to inform their superiors.
4An operator hears from a contact that Banco de México will surprise the market with a large rate cut tomorrow, and he passes it on to clients as a basis for buying long bonds. Which duty of principle 5 of the Code is at stake?
A.Executing client orders in the best available market conditions
B.Basing recommendations on a founded opinion and public information
C.Refusing incentives that could reduce professional objectivity
D.Supervising that collaborators follow the applicable rules
Explanation: Principle 5 requires professionals to abstain from spreading rumors or information that distorts price formation, and to give clients recommendations that represent their founded opinion based on information in the public domain. An unconfirmed tip about a policy decision is neither.
5An issuer of short-term certificados bursátiles offers the head of a money-market desk an all-expenses-paid trip if the desk places a large part of its next issue. What should he do under principle 4 of the Code?
A.Accept, since the issue carries a high credit rating
B.Accept, provided the trip takes place during his vacation
C.Accept, provided he tells his clients after the issue matures
D.Refuse, since the incentive may compromise his objectivity
Explanation: Principle 4 forbids offering, giving, soliciting or accepting incentives that create a personal commitment and may reduce objectivity in decisions related to the party offering them. Placing clients in an issue must depend on its suitability, not on a personal reward.
6An operator sells a corporate treasurer a large position in 20-year Bonos M as a 'safe government investment' without explaining how much its price can fall if rates rise. Which duty of 'Haz prevalecer el interés de tu cliente' has he neglected?
A.Keeping the client's personal and account information confidential
B.Competing fairly with other intermediaries
C.Ensuring the client knows the operation's nature and risks
D.Disclosing relevant events of issuers to the market
Explanation: Principle 3 requires professionals to make sure clients know the nature of the operations they carry out and the risks involved, and to give them the information needed for informed decisions. A long government bond has little credit risk but high interest-rate risk.
7An operator exceeds the risk limits approved for his desk and splits his positions among several books so that the risk area does not notice. How does this relate to the Code?
A.It breaches the duty to follow the rules and act with integrity
B.It is acceptable if all the positions end the trading day with a profit
C.It is acceptable because internal limits are not legal rules
D.It concerns only the risk area, not the operator's ethics
Explanation: Principle 1 requires professionals to follow the laws, regulations and internal rules that apply to their activity, and principle 2 calls for integrity in their conduct. Hiding positions to evade approved risk limits deceives the firm and undermines the controls that protect it and its clients.
8In the general ethics concepts of the AMIB outline, what is justice (justicia)?
A.Obeying whatever the majority decides at each moment
B.The constant will to give each person what is due to him
C.Treating everyone identically, whatever their situation
D.Applying only the penalties that courts have imposed
Explanation: Justice is classically defined as the constant and firm will to give each person what is due to him. Equity (equidad) complements it by adapting the general rule to the circumstances of each case.
9In ethics, what is a virtue (virtud)?
A.An innate talent that cannot be developed
B.A rule imposed by an authority under penalty
C.A single good act performed on a special occasion
D.A stable habit, acquired by practice, of acting well
Explanation: A virtue is a firm and stable disposition, acquired through the repeated practice of good acts, that inclines a person to act well. Honesty, prudence and justice are examples relevant to professional conduct.
10How is ética bursátil best described?
A.Applying ethical principles to market activity, through sound practices
B.The set of fines the CNBV imposes on casas de bolsa
C.The rules that set the prices of securities each day
D.The duty to maximize the intermediary's profits within the limits of the law
Explanation: Ética bursátil applies ethical principles to the conduct of those who participate in the securities market. It is expressed in sound market practices and in the Código de Ética Profesional de la Comunidad Bursátil Mexicana, and it complements the legal framework through self-regulation.

About the AMIB Operador de Dinero Exam

Independent practice for the AMIB Operador de Mercado de Dinero (Serie 240) certification by OpenExamPrep. The official exam is a Spanish-language, four-option multiple-choice test of 205 questions set by the AMIB's Guía de Certificación v8.3. This bank is an English-language study adaptation, not an official translation or simulation of the exam; Mexican market terms such as reporto, reportador, premio, corro, cama and DALÍ are kept in Spanish.

Exam sponsor: Asociación Mexicana de Instituciones Bursátiles (AMIB), a self-regulatory organization recognized by the CNBV. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

205 four-option multiple-choice questions in 9 areas: Ética (20, mandatory), Servicios de Inversión (20), Marco Normativo I, II y III (25), Matemáticas Financieras y Portafolios de Inversión (25), Títulos de Deuda I y II (25, mandatory), Derivados Financieros I y II y Riesgos I, II y III (20), Concertación de Operaciones en el MexDer (20), Sistemas de Negociación de Mercado de Dinero (25, mandatory) and Análisis Económico I, II y III y Financiero I y II y Técnico (25).

Time Limit

4 hours 22 minutes

Passing Score

600 points on a 200–1,100 scale overall, plus at least 600 points in each mandatory area (Ética; Títulos de Deuda I y II; and Sistemas de Negociación de Mercado de Dinero)

Exam / Certification Fees

2026 AMIB tariffs (from 1 February 2026, before IVA): MXN 6,100 in person in Mexico City, MXN 6,925 in other states, or MXN 8,350 remote for the first attempt; extraordinary retakes MXN 4,125, MXN 4,625 or MXN 6,450 respectively

Exam sponsor website

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

Official sources

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.

20 questions (9.76%) — mandatory area

Ética

Auction conduct, valuation manipulation, off-market terms, rumors, incentives and ethics concepts

20 questions (9.76%)

Servicios de Inversión

Annex 6 repos, diversification policy, product information, record-keeping, placement conflicts and fees

25 questions (12.20%)

Marco Normativo I, II y III

Reporto rules, securities lending, brokers and price vendors, the SITI and Banco de México's role in auctions

25 questions (12.20%)

Matemáticas Financieras y Portafolios de Inversión

Holding-period yields, discount and yield conversions, equivalent rates, Bono M pricing, duration and carry

25 questions (12.20%) — mandatory area

Títulos de Deuda I y II

Government, IPAB and bank instruments, repo types, Udibono segregation, spot exchange rate and the TIIE de Fondeo transition

20 questions (9.76%)

Derivados Financieros I y II y Riesgos I, II y III

Swaps, bond futures and hedging, VaR, funding liquidity, repricing gaps, basis and curve risk

20 questions (9.76%)

Concertación de Operaciones en el MexDer

Access codes, operators' obligations, cancellations and modifications, rollovers, unwinds and auctions

25 questions (12.20%) — mandatory area

Sistemas de Negociación de Mercado de Dinero

Brokers, electronic platforms, corro, cama, spread and matching operations, market makers and DALÍ settlement

25 questions (12.20%)

Análisis Económico I, II y III y Financiero I y II y Técnico

Policy-rate transmission, curve flattening and steepening, inflation components, money demand and sovereign spreads

Preparing for the AMIB Operador de Dinero Exam

What You Need to Know

  • Passing score: 600 points on a 200–1,100 scale overall, plus at least 600 points in each mandatory area (Ética; Títulos de Deuda I y II; and Sistemas de Negociación de Mercado de Dinero)
  • Assessment: 205 four-option multiple-choice questions in 9 areas: Ética (20, mandatory), Servicios de Inversión (20), Marco Normativo I, II y III (25), Matemáticas Financieras y Portafolios de Inversión (25), Títulos de Deuda I y II (25, mandatory), Derivados Financieros I y II y Riesgos I, II y III (20), Concertación de Operaciones en el MexDer (20), Sistemas de Negociación de Mercado de Dinero (25, mandatory) and Análisis Económico I, II y III y Financiero I y II y Técnico (25).
  • Time limit: 4 hours 22 minutes
  • Exam / certification fees: 2026 AMIB tariffs (from 1 February 2026, before IVA): MXN 6,100 in person in Mexico City, MXN 6,925 in other states, or MXN 8,350 remote for the first attempt; extraordinary retakes MXN 4,125, MXN 4,625 or MXN 6,450 respectively Official sources

Using Our Practice Resources

  • Work through all 105 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

AMIB Operador de Dinero: Suggested Study Strategy

1Know the reporto provisions of the Ley General de Títulos y Operaciones de Crédito: who keeps the premio, what happens to coupons paid during the repo, and when a repo is deemed abandoned.
2Practice money-market conversions on a 360-day year: discount to yield, holding-period yields, equivalent rates and repo premiums.
3Learn how brokers, electronic platforms and Indeval's DALÍ fit together from trade to settlement.
4Review the reference-rate transition: TIIE de Fondeo replaced the term TIIE in new contracts, and Bondes F reference it.
5Connect monetary policy to the curve: which rates move first after a Banxico decision and what flattening and steepening mean.

Frequently Asked Questions

What is the AMIB Serie 240 certification?

It is the AMIB certification for Operador de Mercado de Dinero, the professional who buys and sells debt securities through trading and auction systems and, where applicable, advises institutional investors, working at an authorized securities intermediary.

How many questions are on the Serie 240 exam and how long is it?

Under the Guía de Certificación v8.3, the exam has 205 questions and lasts 4 hours 22 minutes. Guide v8.4, which applies from 26 October 2026, keeps the same number of questions and time.

What is the passing score for the Serie 240 exam?

You need at least 600 points on the 200 to 1,100 scale overall and at least 600 points in each mandatory area: Ética; Títulos de Deuda I y II; and Sistemas de Negociación de Mercado de Dinero.

What do I need before registering for the exam?

You must pass AMIB's course 'Ética Bursátil y Sanas Prácticas del Mercado de Valores', have a satisfactory credit history of at least five years in a Reporte de Crédito Especial issued within the last three months, sign the honorability statement, and submit your file through AMIB's online system at least 10 business days before the exam.

Why is this practice bank in English?

The official exam is given in Spanish. This bank is an English-language study adaptation for reviewing the concepts in the AMIB outline; it is not an official translation or format simulation, and it keeps key Mexican market terms in Spanish.

How does Serie 240 differ from Serie 220?

Serie 220 is for equity operators and has a mandatory area on concerting operations in the equity market. Serie 240 is for money-market operators: its mandatory areas are Ética, debt securities and money-market trading systems, and it adds repo law and market-maker rules.