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Free Practice Questions for BVA Operador de Bolsa

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Key Facts: BVA Operador de Bolsa Exam

80%

Minimum passing score on the BVA certification exam

BVA Diplomado July 2026 Prospectus, Certificación

60 hours

Total course workload in the Diplomado en Mercado de Valores

BVA Diplomado July 2026 Prospectus, Cronograma

Gs. 565,000

Certification exam fee (separate from course fee)

BVA Diplomado July 2026 Prospectus, Inversión

80%

Minimum attendance required across classes to be eligible for the exam

BVA Diplomado July 2026 Prospectus, Certificación

18:00–21:00

Scheduled exam call window (presencial, organized in groups)

BVA Diplomado July 2026 Prospectus, Calendario

Study with 80 independent English-language MCQs on market institutions, issuance and trusts, fixed and variable income, repos, financial mathematics, technical analysis, portfolios, AML, and trading decisions. The four published course modules guide topic selection; the practice counts and difficulty mix are editorial choices.

Sample BVA Operador de Bolsa Practice Questions

Try these sample questions to review concepts for the BVA Operador de Bolsa exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 80+ question experience with AI tutoring.

1Which description best identifies the role of the Bolsa de Valores de Asunción (BVA)?
A.The public authority that licenses and supervises every securities intermediary
B.A private exchange providing an organized platform and rules for securities trading
C.The central depository maintaining investors' securities accounts and settling trades
D.A brokerage executing investment instructions for its own clients
Explanation: BVA is the exchange where authorized intermediaries negotiate securities. Its trading role is distinct from regulatory supervision, brokerage services, and CAVAPY's custody and settlement functions.
2Under Ley N° 7572/2025, which institution exercises national securities-market supervision and control?
A.BVA's board through its exchange membership rules alone
B.CAVAPY through its custody agreements alone
C.The Banco Central del Paraguay through the Superintendencia de Valores
D.SEPRELAD through its financial-intelligence function alone
Explanation: Ley N° 7572/2025 identifies the Banco Central del Paraguay as the authority applying the law, exercising supervision and control through the Superintendencia de Valores. Exchange rules, depository controls, and AML oversight perform different functions.
3Which activity most directly describes the intermediary function of a Casa de Bolsa?
A.Executing authorized securities purchases and sales for clients
B.Maintaining the market's central securities registry as its depository
C.Approving every exchange's internal regulations as the supervisor
D.Providing an independent credit rating of an issuer
Explanation: A Casa de Bolsa intermediates securities transactions, including executing clients' buy and sell instructions. Its role differs from those of a depository, regulator, and rating agency.
4Which service is a core function of Caja de Valores del Paraguay S.A. (CAVAPY)?
A.Matching incoming buy and sell orders as the stock exchange
B.Registering, holding in custody, and settling securities
C.Setting the central bank's monetary-policy interest rate
D.Determining whether an issuer should receive an investment-grade rating
Explanation: CAVAPY provides securities registration, custody, and settlement services. Separating these post-trade functions from exchange trading helps define each institution's operational responsibilities.
5What risk does routing securities cash settlement through the BCP's Liquidación Bruta en Tiempo Real (LBTR) principally help reduce?
A.Exposure associated with using a commercial settlement bank for the cash leg
B.The issuer's risk of failing to generate enough income to pay coupons
C.The investor's exposure to a decline in the security's market price
D.The risk that a long-term bond loses purchasing power through inflation
Explanation: The LBTR connection changes the infrastructure used to settle the cash leg through BCP accounts. It improves settlement arrangements but does not remove credit, market-price, or inflation risk in the investment itself.
6Which statement distinguishes the primary market (mercado primario) from the secondary market (mercado secundario)?
A.New securities raise funds for the issuer in the primary market; existing securities change hands between investors in the secondary market
B.Only bonds trade in the primary market, while only shares trade in the secondary market
C.A purchase through a broker is always primary, while a direct investor sale is always secondary
D.A security becomes secondary only after its first interest or dividend payment
Explanation: The primary market concerns issuance of new securities and the associated financing of the issuer. Secondary trading transfers already-issued securities and provides liquidity to investors.
7What financing flexibility does a Programa de Emisión Global (PEG) provide an issuer?
A.Each series can exceed the registered program ceiling if demand is strong
B.Multiple series can be issued within an overall registered program, subject to the applicable series requirements
C.The program removes the need to disclose the terms of each series
D.Every series must have the same maturity and coupon as the first series
Explanation: A PEG provides a framework for issuing successive series within an aggregate authorized amount. Individual series still require the applicable documentation and may have different terms within the program's conditions.
8What distinguishes acciones cartulares from acciones escriturales?
A.Cartulares necessarily vote, while escriturales necessarily lack voting rights
B.Cartulares represent debt, while escriturales represent equity
C.Cartulares are listed shares, while escriturales cannot be listed
D.Cartulares use physical certificates, while escriturales are represented by book entries
Explanation: The distinction concerns how ownership is represented: a physical share certificate or a book-entry record. Voting and economic rights depend on the share class and governing terms, rather than the physical or electronic representation.
9A client says that a registered Prospecto de Emisión proves a bond is safe. Which response correctly explains the prospectus's purpose?
A.It proves that the supervisor guarantees repayment
B.It discloses the issuer, security terms, and material risks so investors can assess the investment
C.It replaces the need to examine financial statements
D.It ensures the security can always be resold at its issue price
Explanation: A prospectus provides information for an informed investment decision, including risk factors and issue terms. Registration and disclosure do not constitute a guarantee of repayment or secondary-market liquidity.
10In a fideicomiso, which description correctly identifies the fideicomitente, fiduciario, and beneficiario?
A.The fideicomitente provides the assets, the fiduciario administers them for the agreed purpose, and the beneficiario receives the designated benefits
B.The fideicomitente administers the assets, the fiduciario receives all benefits, and the beneficiario supervises the market
C.The fideicomitente is always the exchange, the fiduciario the broker, and the beneficiario the issuer
D.The fideicomitente guarantees investment returns, the fiduciario rates the debt, and the beneficiario settles trades
Explanation: These are the roles of the person establishing the fiduciary arrangement, its authorized administrator, and its beneficiary. One must identify each role from the governing arrangement rather than equating it with an exchange or brokerage function.

About the BVA Operador de Bolsa Exam

The Operador de Bolsa certification is awarded by the Bolsa de Valores de Asunción (BVA) upon passing its optional certification exam following the Diplomado en Mercado de Valores, subject to attendance and administrative requirements. OpenExamPrep offers independent practice for this qualification and Paraguayan securities topics. This is an English-language MCQ study adaptation, not an official translation or simulation of the assessment's format or language. It does not substitute for required coursework or writing, speaking, practical trading, or performance practice.

Exam sponsor: Centro de Estudios — Bolsa de Valores de Asunción (Campus BVA). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

The optional Operador de Bolsa certification exam is administered in person by the Centro de Estudios of the Bolsa de Valores de Asunción (Campus BVA) following the 60-hour Diplomado en Mercado de Valores. The July 2026 prospectus lists calls on 18 and 25 November 2026, each 18:00–21:00, with examinees organized in groups. These are separate calls, not evidence of a mandatory two-part assessment. Individual duration, item types and count, and permitted assessment languages are not published. Separately graded mandatory assignment, oral, practical, or case-study components are not specified. Attendance and administrative requirements apply.

Time Limit

Scheduled in 18:00–21:00 presencial exam windows; individual exam duration is not published

Passing Score

80% minimum score required on the certification exam

Exam / Certification Fees

Gs. 565,000 for the optional certification exam (separate from the Gs. 5,650,000 course fee)

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.

25% of this practice bank; not an official exam weight

Market structure, negotiation system, issuance structuring and trusts

20 questions on market institutions and infrastructure, issuance, disclosure, and fideicomisos.

30% of this practice bank; not an official exam weight

Fixed and variable income analysis, financial mathematics and repos

24 questions on fixed income, shares, accrued interest, yield, duration, repo operations, and aforo calculations.

25% of this practice bank; not an official exam weight

Technical analysis, economic-financial analysis, portfolios and AML

20 questions on technical indicators, financial statements, portfolio risk and return, beneficial ownership, and AML/CFT controls.

20% of this practice bank; not an official exam weight

Stock exchange negotiation and trading practice

16 questions on order execution, auction concepts, settlement, account segregation, and operator conduct. Scenario-specific trading rules are supplied in the questions.

Preparing for the BVA Operador de Bolsa Exam

What You Need to Know

  • Passing score: 80% minimum score required on the certification exam
  • Assessment: The optional Operador de Bolsa certification exam is administered in person by the Centro de Estudios of the Bolsa de Valores de Asunción (Campus BVA) following the 60-hour Diplomado en Mercado de Valores. The July 2026 prospectus lists calls on 18 and 25 November 2026, each 18:00–21:00, with examinees organized in groups. These are separate calls, not evidence of a mandatory two-part assessment. Individual duration, item types and count, and permitted assessment languages are not published. Separately graded mandatory assignment, oral, practical, or case-study components are not specified. Attendance and administrative requirements apply.
  • Time limit: Scheduled in 18:00–21:00 presencial exam windows; individual exam duration is not published
  • Exam / certification fees: Gs. 565,000 for the optional certification exam (separate from the Gs. 5,650,000 course fee) Official sources

Using Our Practice Resources

  • Work through all 80 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

BVA Operador de Bolsa: Suggested Study Strategy

1Review the four official modules in detail: market structure, fixed/variable income and repos, analysis and compliance, and trading practice.
2Master the mechanics of operaciones de reporto (repos), including calculating repurchase prices, repo interest, and margin haircuts (aforo).
3Practice key bond calculations: nominal value, accrued interest (cupón corrido), clean vs. dirty price, and current yield.
4Understand the roles and regulatory distinctions between the BVA (the exchange), CAVAPY (clearing and custody), and the Superintendencia de Valores (the regulator under BCP).
5Study risk-based AML/CFT duties and the distinction between an exchange's direct relationships and a brokerage's investor relationships in SEPRELAD's interpretive guidance.
6Practice order-book, auction, settlement, and error-control decisions, then use current BVA materials for platform procedures. BVA introduced Nasdaq trading technology in January 2026.

Frequently Asked Questions

Is this an official preparation course?

OpenExamPrep provides independent practice and is not affiliated with or endorsed by the Bolsa de Valores de Asunción (BVA) or the Superintendencia de Valores (SIV). These English-language MCQs are a study adaptation, not an official translation or exam-format simulation.

What is the difference between the BVA Operador de Bolsa certification and the SIV Asesor de Inversión exam?

Operador de Bolsa is the BVA course-attached certification assessed through Campus BVA. It is distinct from the Superintendencia de Valores (BCP) Examen de Idoneidad for Asesor de Inversión registration. BVA course certification should not be treated as proof that all separate regulatory or employer authorization requirements have been satisfied.

Is the certification exam mandatory for all Diplomado participants?

No. The examination is optional. The prospectus provides a 'Participación al Diplomado en Mercado de Valores' certificate for participants who do not wish to sit it. 'Operador de Bolsa' certification requires passing with at least 80%. In all cases, at least 80% attendance and administrative requirements apply.

What are the fees for the course and the certification exam?

In the July 2026 prospectus, the Diplomado course fee is Gs. 5,650,000 (single payment), and the optional Operador de Bolsa certification exam fee is Gs. 565,000.

What are the eligibility requirements to sit the certification exam?

The prospectus requires a scanned university degree or university enrollment certificate and identity document, plus 'Aprenda a Invertir en Bolsa' or initial leveling. It expressly says the preliminary course is not exclusionary and offers leveling on the first day. Certification requires at least 80% attendance and fulfillment of administrative requirements.

What language and question format does the official BVA examination use?

The prospectus and public course information are in Spanish and specify an in-person exam. They do not explicitly confirm permitted assessment languages, item types, or separately graded mandatory assignment, oral, practical, or case-study requirements. Our English-language MCQs are a study adaptation, not an official translation or format simulation.

When are the exam calls held?

For the July 2026 intake, the first call is scheduled for Wednesday 18 November 2026 and the second call for Wednesday 25 November 2026, both between 18:00 and 21:00. Candidates are organized into groups.

Do the practice-bank percentages reflect an official exam blueprint?

No. BVA publishes four Diplomado modules, but no official exam percentage weights or item count. This bank's 80 questions use editorial allocations of 20, 24, 20, and 16 across those modules; its 24 easy, 40 medium, and 16 hard questions are also editorial.