100+ Free IFMP Stock Brokers Certification (SBC), Pakistan Practice Questions

Pass your IFMP Stock Brokers Certification (SBC), Pakistan exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately

N/A Pass Rate

100+ Questions

100% Free

Loading practice questions...

Same family resources

Explore More IFMP Pakistan Securities Certifications

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

2026 Statistics

Key Facts: IFMP Stock Brokers Certification (SBC), Pakistan Exam

100 MCQs

Exam Length

IFMP SBC study guide / PSX SBC-min.pdf

150 minutes

Time Limit

IFMP SBC study guide / PSX SBC-min.pdf

PKR 7,000

Examination Fee

https://ifmp.org.pk/ifmp-fees-structure

No negative marking

Scoring Rule

IFMP SBC assessment structure

IFMP SBC is a 100-MCQ, 150-minute exam with equal marks and no negative marking, aimed at brokers, traders, and sales staff who interact with stock-market investors in Pakistan.

Sample IFMP Stock Brokers Certification (SBC), Pakistan Practice Questions

Try these sample questions to test your IFMP Stock Brokers Certification (SBC), Pakistan exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1What is the basic intermediation function of the financial system as described in IFMP SBC materials?

A.Moving surplus funds from savers to those who need capital through financial intermediaries

B.Setting daily stock prices for every listed company by government decree

C.Guaranteeing equity returns above inflation for all retail investors

D.Replacing banks entirely with stock exchanges as deposit takers

Explanation: IFMP’s Element 1 frames the finance industry’s basic function as a flow of funds: collecting surplus money and channeling it to users of capital, typically through intermediaries. Markets and institutions exist to enable that allocation, not to guarantee returns or set every price by fiat.

2In Pakistan’s capital-market infrastructure, which institution primarily operates the central securities depository (CDS)?

A.Pakistan Mercantile Exchange (PMEX)

B.Central Depository Company of Pakistan Limited (CDC)

C.State Bank of Pakistan (SBP) only

D.Mutual Funds Association of Pakistan (MUFAP)

Explanation: CDC is Pakistan’s securities depository and operates the Central Depository System (CDS) for book-entry custody and transfers. NCCPL focuses on clearing/settlement, PSX on exchange trading, and PMEX on commodities—distinct CMII roles covered in Element 1.

3Which Capital Market Infrastructure Institution (CMII) is primarily responsible for clearing and settlement of securities trades in Pakistan?

A.Central Depository Company (CDC)

B.Securities and Exchange Commission of Pakistan (SECP)

C.National Clearing Company of Pakistan Limited (NCCPL)

D.Pakistan Stock Brokers Association (PSBA)

Explanation: NCCPL is the clearing house for Pakistan’s securities market—managing clearing, settlement obligations, and related risk processes. CDC handles depository/book-entry custody; SECP is the regulator; PSBA is an industry association.

4Which statement best distinguishes the primary market from the secondary market?

A.Primary markets only trade futures; secondary markets only trade bonds

B.Primary markets are unregulated; secondary markets are regulated by SECP only after listing

C.Primary markets settle T+0 only; secondary markets never settle

D.Primary markets issue new securities to raise capital; secondary markets trade existing securities among investors

Explanation: Element 1 requires understanding primary vs secondary roles: issuers raise funds by selling new securities in the primary market, while secondary trading provides liquidity and price discovery for securities already outstanding—without the issuer necessarily receiving new proceeds on each trade.

5Treasury bills (T-bills) issued for the Government of Pakistan are typically characterized as:

A.Negotiable short-term debt instruments usually sold on a discount basis

B.Perpetual equity shares with voting rights

C.Insurance policies issued by life insurers

D.Commodity warehouse receipts traded only on PMEX

Explanation: IFMP materials describe T-bills as negotiable government debt, commonly auctioned on a discount basis so the yield is the difference between purchase price and face value at maturity. They are debt, not equity, insurance, or commodity receipts.

6Pakistan Investment Bonds (PIBs), as described in IFMP SBC content, are generally:

A.Equity warrants with no coupon

B.Longer-tenor government debt securities with semi-annual coupon payments until maturity

C.Same-day call deposits at commercial banks

D.Unlisted private equity partnership interests

Explanation: PIBs are government debt securities issued via SBP frameworks, typically in multi-year tenors with fixed coupon income paid semi-annually until maturity. That profile differs from equities, call deposits, or private equity interests.

7How does a sukuk differ from a conventional interest-bearing bond in the IFMP SBC framing?

A.A sukuk always pays a floating LIBOR coupon; a bond never does

B.A sukuk can only be issued by mutual funds; bonds can only be issued by governments

C.A sukuk represents an ownership interest in an underlying asset/usufruct, while a conventional bond is typically an interest-bearing debt claim

D.There is no conceptual difference under Securities Act 2015

Explanation: IFMP Element 1 contrasts sukuk (asset/usufruct ownership certificates structured to remain Shariah-compliant) with conventional bonds (interest-bearing debt obligations). Income on sukuk must not be speculative riba-style interest in the prohibited sense.

8Which participant typically provides professional portfolio management of pooled investor money in collective investment schemes?

A.A listed company’s company secretary only

B.The stock exchange’s listing department

C.NCCPL’s margin desk exclusively

D.An Asset Management Company (AMC) / fund manager

Explanation: Asset management companies/fund managers professionally manage mutual funds and similar CIS vehicles—pooling investor money and investing across permitted assets. Exchange listing teams and clearing margin functions are different roles.

9CDC Investor Account Services are designed primarily to:

A.Let investors hold securities in CDS accounts maintained by CDC for safer custody under investor instructions

B.Replace SECP licensing of all brokers

C.Guarantee a fixed annual return on equities

D.Act as the sole market maker in every PSX security

Explanation: IFMP highlights CDC Investor Account Services: investors can open CDS accounts maintained by CDC and operated on investor instructions, improving custody safety versus leaving holdings only in broker house arrangements. It is custody infrastructure—not a return guarantee or universal market-making mandate.

10Which set correctly identifies major Pakistan CMIIs referenced in the SBC syllabus?

A.IMF, World Bank, ADB, and WTO only

B.PSX, CDC, NCCPL, and PMEX

C.FBR, NADRA, NAB, and FIA only

D.NYSE, NASDAQ, LSE, and HKEX only

Explanation: Element 1 learning objectives explicitly include recent CMII initiatives by PSX (exchange), CDC (depository), NCCPL (clearing), and PMEX (commodities). International development banks or foreign exchanges are not Pakistan’s CMIIs for this syllabus point.

About the IFMP Stock Brokers Certification (SBC), Pakistan Exam

Free practice questions for the IFMP Stock Brokers Certification (SBC), the mandatory Pakistan brokerage qualification covering financial markets, SECP/PSX regulation, primary and secondary markets, NCCPL/CDC clearing and depository, broker–client conduct, investor protection, and economics/finance.

Questions

100 scored questions

Time Limit

150 minutes

Passing Score

Not published by IFMP; confirm with IFMP for your sitting

Exam Fee

PKR 7,000 (Institute of Financial Markets of Pakistan (IFMP))

IFMP Stock Brokers Certification (SBC), Pakistan Exam Content Outline

10%

Introduction to Financial Markets

Capital-market products, participants, primary vs secondary markets, and CMII initiatives.

20%

Regulatory Framework

Securities Act 2015, SECP Act 1997, Companies Act 2017, and broker/exchange/depository regulations.

20%

Primary Market

Share issues, prospectus, IPO/book building, listing/delisting, and GEM Board.

10%

Secondary Market

PSX trading, order matching, product types, indexes, corporate actions, and risk measures.

10%

Clearing, Delivery, Settlement and Depository

NCCPL clearing, CDC/CDS accounts, margins, haircuts, and settlement cycles.

10%

Stock Brokers and their Clients

Licensing regulations, client-asset rules, UIN, AML/KYC, and insider-trading prohibitions.

10%

Investor Protection

Fair dealing, statements/contract notes, complaints, segregation, and protection funds.

10%

Economics and Finance

Capital-market tax, financial analysis basics, time value of money, and macro indicators.

How to Pass the IFMP Stock Brokers Certification (SBC), Pakistan Exam

What You Need to Know

Passing score: Not published by IFMP; confirm with IFMP for your sitting
Exam length: 100 questions
Time limit: 150 minutes
Exam fee: PKR 7,000

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

IFMP Stock Brokers Certification (SBC), Pakistan Study Tips from Top Performers

1Study the official IFMP Securities Brokers’ Certification Study and Reference Guide element by element.

2Memorize the roles of SECP, PSX, NCCPL, and CDC — they appear across regulation, clearing, and investor-protection questions.

3Practice IPO/book-building, price/time priority, margin (VaR/MTM), and time-value-of-money calculations.

4Review Securities Brokers (Licensing and Operations) Regulations 2016 prohibitions: client assets, confidentiality, front running, and insider trading.

5Use timed 100-question mocks to match the 150-minute official pacing (about 1.5 minutes per question).

Frequently Asked Questions

How many questions are on the IFMP Stock Brokers Certification exam?

The official SBC assessment is 100 multiple-choice questions in 150 minutes, with equal marks and no negative marking (IFMP study guide / PSX SBC summary).

What is the IFMP SBC exam fee?

IFMP’s published fees structure lists an examination registration fee of PKR 7,000 per attempt (net of taxes), plus a one-time candidate registration fee of PKR 10,000. Soft-copy study guides are free; hard copies are PKR 1,500.

Who must take the Stock Brokers Certification?

IFMP states the exam is by and large mandated for brokers, agents of brokers, equity traders, and sales staff of brokers and brokerage firms.

What topics does IFMP SBC cover?

Eight elements: introduction to financial markets (10), regulatory framework (20), primary market (20), secondary market (10), clearing/settlement/depository (10), stock brokers and their clients (10), investor protection (10), and economics and finance (10), per the official study-guide specification (±2 flexibility).