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Exam Review

Key Facts: SPK Yatırım Kuruluşları Exam

25

Official examination multiple-choice questions

SPL Sınav Kılavuzu

45 min

Examination duration

SPL e-LS

50 / 60

Passing thresholds (min 50 module, 60 average)

SPK Tebliğ VII-128.7

TRY 748

2026 Examination sitting fee

SPL Fee Schedule

Independent English-language MCQ study adaptation for SPL Module 1005 Yatırım Kuruluşları. The official assessment has 25 five-option questions in 45 minutes covering intermediary firm operations (III-37.1 & III-39.1), customer suitability and appropriateness tests, 10-year record retention (III-45.1), margin trading (Seri: V No:65), crowdfunding, and remote onboarding (III-42.1). Passing requires at least 50/100 on the module and a 60/100 composite average.

Sample SPK Yatırım Kuruluşları Practice Questions

Try these sample questions to review concepts for the SPK Yatırım Kuruluşları exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 24+ question experience with AI tutoring.

1Which is listed as an investment service or activity, rather than merely an ancillary service, under the Turkish capital markets framework?
A.General financial research
B.Custody and administration of capital market instruments on behalf of clients
C.Providing financing for securities transactions
D.Corporate advice on capital structure
Explanation: Client securities custody and administration are expressly included among investment services and activities. They should not be imported into an ancillary-service category from another jurisdiction's framework.
2Which distinction between uygunluk testi and yerindelik testi is correct?
A.They are interchangeable names for the same assessment
B.Uygunluk always includes the full financial-capacity assessment required for advice
C.Yerindelik concerns only order execution speed
D.Yerindelik assesses whether advice or discretionary management fits objectives, financial circumstances, and knowledge; uygunluk has its own product/service assessment requirements
Explanation: Yerindelik is required for investment advice and individual portfolio management and includes financial capacity. Uygunluk also considers investment purposes and knowledge/experience, but the official notes distinguish it from the financial-circumstances inquiry in yerindelik.
3A retail client refuses information necessary for yerindelik testi before individual portfolio management. What should the firm do?
A.Decline to provide that service and make the required notification
B.Infer financial capacity from the client's postcode
C.Use an unrestricted waiver instead of the assessment
D.Provide management if the client pays a higher fee
Explanation: The official suitability rules do not permit advice or individual portfolio management when the necessary information is missing. A warning or fee arrangement cannot replace the required assessment.
4A retail client insists on an execution service after a negative uygunluk assessment and written warning. Another client insists on advice inconsistent with yerindelik results. Which distinction is correct?
A.Both warnings automatically authorize both services
B.Both services must always be supplied if requested
C.The firm may decide whether to provide the requested execution service under its policies, but cannot provide unsuitable advice merely because the client insists
D.A negative uygunluk result automatically makes the client professional
Explanation: For uygunluk, the official rules allow the firm to decide whether to serve a client who insists after the warning. Yerindelik does not permit advice or individual management inconsistent with the assessment merely on client insistence.
5Which pair of activities belongs to the dar yetkili classification, subject to the firm's specific permissions?
A.Order transmission and investment advice
B.Proprietary dealing and general custody
C.Firm-commitment underwriting and proprietary dealing
D.General custody and individual portfolio management
Explanation: Dar yetkili firms are classified around order transmission and investment advice. A classification does not itself replace the specific permission required for an activity.
6Which activity distinction correctly separates kısmi yetkili from geniş yetkili groupings in the official framework?
A.Kısmi includes proprietary dealing; geniş includes only research
B.Both tiers are defined only by the number of branches
C.Kısmi includes execution brokerage and best-efforts placement; geniş includes proprietary dealing, general custody, or underwriting commitment
D.Kısmi permits all activities without separate permission
Explanation: The groupings reflect the activities' risk and financial implications. The official notes place işlem aracılığı and en iyi gayret in kısmi, and portföy aracılığı, genel saklama, and aracılık yüklenimi in geniş.
7Who bears ultimate governance responsibility for ensuring that an intermediary has adequate internal control and risk-management arrangements?
A.The external trading counterparty
B.The board of directors
C.Each retail client individually
D.The firm's largest securities issuer
Explanation: The board is responsible for the institution's governance and adequate control arrangements. Delegating operational tasks does not transfer that ultimate responsibility to clients or counterparties.
8In portföy aracılığı, the firm acts as principal against a client's transaction. How does this differ from bireysel portföy yöneticiliği?
A.They are identical because both contain the word portföy
B.Principal dealing always means managing the client's portfolio under discretion
C.Individual management means only forwarding orders
D.Principal dealing uses the firm's own account; individual management exercises contracted discretion over a client's portfolio
Explanation: Portföy aracılığı and portföy yöneticiliği name different regulated activities. Trading as principal must not be confused with managing assets under a discretionary client mandate.
9What is the general retention period in the official document-and-record rules for investment-service records, including relevant voice and remote-identification recordings?
A.One year
B.Three years
C.Ten years
D.Five years
Explanation: The general retention requirement is ten years. Records involved in an unresolved dispute have an additional preservation requirement until the dispute concludes.
10A client disputes an order's authorization and execution price. Which evidence should be preserved and examined together?
A.The order instruction or recording, time-stamped order history, execution data, and confirmation
B.Only the current share price
C.Only the firm's total monthly commissions
D.Only an employee's unsupported recollection
Explanation: A complete audit trail connects the instruction to subsequent handling and execution. Examining only one unrelated current measure cannot establish what was authorized and executed.

About the SPK Yatırım Kuruluşları Exam

Yatırım Kuruluşları (Module 1005) is the core regulatory examination covering the establishment, governance, customer interactions, and operational compliance of investment firms (aracı kurumlar and banks) in Turkey. It is a mandatory requirement for Düzey 1, Düzey 2, Düzey 3, and Derivatives licences. OpenExamPrep provides an independent English-language MCQ study adaptation, not an official translation or a simulation of the Turkish exam's language environment.

Exam sponsor: Sermaye Piyasası Lisanslama Sicil ve Eğitim Kuruluşu A.Ş. (SPL). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Single 45-minute computer-based electronic licensing examination (e-LS) session of 25 multiple-choice questions administered at SPL test centers.

Time Limit

45 minutes

Passing Score

Minimum 50 out of 100 on the module, and an arithmetic average of at least 60 across all modules required for the candidate's target licence

Exam / Certification Fees

TRY 748 per subject sitting; eligible university students pay TRY 548, or TRY 456 under SPL cooperation protocols.

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.

Official topic; percentage not published

Yatırım Hizmet ve Faaliyetleri (Tebliğ III-37.1)

Core and ancillary investment services, client categorization (genel vs profesyonel müşteri), appropriateness test (uygunluk testi), and suitability test (yerindelik testi).

Official topic; percentage not published

Kuruluş ve Faaliyet Esasları (Tebliğ III-39.1)

Intermediary firm establishment conditions, licensing scopes (dar, kısmi, geniş yetkili), internal audit, risk management, and organizational obligations.

Official topic; percentage not published

Belge ve Kayıt Düzeni (Tebliğ III-45.1)

Contract execution, confirmation notes, periodic client account statements, and statutory ten-year physical/electronic document retention rules.

Official topic; percentage not published

Kredili İşlemler ve Açığa Satış (Seri: V No: 65)

Margin trading agreements, minimum equity ratios (özkaynak oranı), margin calls, collateral maintenance, short sales, and borrowing transactions.

Official topics; percentages not published

Kitle Fonlaması ve Uzaktan Kimlik Tespiti

Crowdfunding platforms (III-35/A.2), project limits, qualified investor rules, and remote digital customer onboarding procedures (III-42.1).

Preparing for the SPK Yatırım Kuruluşları Exam

What You Need to Know

  • Passing score: Minimum 50 out of 100 on the module, and an arithmetic average of at least 60 across all modules required for the candidate's target licence
  • Assessment: Single 45-minute computer-based electronic licensing examination (e-LS) session of 25 multiple-choice questions administered at SPL test centers.
  • Time limit: 45 minutes
  • Exam / certification fees: TRY 748 per subject sitting; eligible university students pay TRY 548, or TRY 456 under SPL cooperation protocols. Official sources

Using Our Practice Resources

  • Work through all 24 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

SPK Yatırım Kuruluşları: Suggested Study Strategy

1Study uygunluk under III-39.1 and yerindelik under III-37.1, including their different information requirements, specific exceptions, and consequences. Do not assume a general execution-only exemption for listed shares.
2Learn the activity groupings in III-37.1 and distinguish principal dealing from individual portfolio management. Custody is an investment service in this framework, not merely an ancillary service.
3Memorize the margin trading equity ratios under Communiqué Seri: V No: 65: the minimum initial equity ratio is 50%, and maintenance margin requires equity not to fall below 35%.
4Review real-time video verification, liveness, and identity-document checks under III-42.1. NFC verification has a conditional alternative with additional visual checks and a first-financial-movement requirement; do not treat NFC as unconditionally the only method.

Frequently Asked Questions

What does this focused practice bank cover?

The 24 independent English-language four-option MCQ study questions sample investment services, authorization and organization, records, margin transactions, crowdfunding, and remote identification. They do not exhaust the outline or replace the separate Kredi Derecelendirmesi subject. This is an English-language MCQ study adaptation, not an official translation or a simulation of Turkish five-option delivery.

What is the SPK Yatırım Kuruluşları (1005) exam?

Module 1005 is a statutory subject examination administered by SPL under SPK regulations. It covers the legal and operating frameworks governing Turkish investment firms (aracı kurumlar) and banks, including authorized activities, customer protection, margin lending, and digital onboarding.

What is the difference between uygunluk testi and yerindelik testi?

Uygunluk is addressed in III-39.1 and evaluates the relevant general client's investment purposes and knowledge/experience for the product or service, subject to specified exceptions. Yerindelik under III-37.1 applies before investment advice or individual portfolio management and also assesses financial circumstances. Their consequences differ: a warning can leave the firm discretion over a requested execution service, while unsuitable advice or management cannot be supplied merely because the client insists.

What are the three licensing categories for intermediary firms under III-39.1?

The activity groupings in III-37.1 distinguish dar yetkili (order transmission and investment advice), kısmi yetkili (execution brokerage, best-efforts placement, limited custody, and individual portfolio management), and geniş yetkili (principal dealing, general custody, and underwriting commitment). The firm needs the applicable specific permissions; a grouping is not an unrestricted authorization. III-39.1 separately governs establishment and operation.

How long must investment firms retain client records in Turkey?

III-45.1 sets a general ten-year period for the relevant documents and records, including orders whether executed or not, voice recordings, and remote-identification records. Disputed records must remain preserved until the dispute concludes even when the general period has elapsed.

Is this practice bank an official translation?

No. OpenExamPrep provides an independent English-language MCQ study adaptation with four options per question. Official SPL e-LS examinations are administered in Turkish with five options. Turkish statutory citations (Tebliğ III-37.1, III-39.1, Seri: V No: 65) are retained for accurate study.