PracticeVideosBlogFlashcardsEspañol
All Practice Exams

100+ Free JSE Registered Securities Trader Practice Questions

Pass your JSE Registered Securities Trader Examination — South Africa exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately
100+ Questions
100% Free

Loading practice questions...

2026 Statistics

Key Facts: JSE Registered Securities Trader Exam

50 questions

Official JSE Registered Securities Trader exam length

SAIFM — JSE Registered Securities Trader

70% pass mark

Competency mark with no negative marking

SAIFM — JSE Registered Securities Trader

1 hour

Time allowed for the official exam

SAIFM — JSE Registered Securities Trader

R2 430

Fee per attempt incl. VAT from 1 August 2025

SAIFM — Costs

Jan 2018 edition

Current syllabus edition listed by SAIFM

SAIFM — JSE Registered Securities Trader

Rule 6.10.5

JSE rule prescribing the trader examination for registration

JSE Equities Rules / SAIFM exam page

6 months

Window to write after purchasing the exam

SAIFM — JSE Registered Securities Trader

100

Free original practice questions provided here

OpenExamPrep

JSE Registered Securities Trader is a 50-question, 1-hour SAIFM CBT with a 70% pass mark, costing R2 430 (incl. VAT) per attempt from 1 August 2025. Required under JSE Rule 6.10.5 for equities execution registration. The January 2018 syllabus covers equities rules/listings, directives, the Financial Markets Act and the trading system. This bank provides 100 original practice questions with explanations.

Sample JSE Registered Securities Trader Practice Questions

Try these sample questions to test your JSE Registered Securities Trader exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under JSE Rule 6.10.5, what must a person seeking registration as a registered securities trader obtain in addition to satisfying fit and proper requirements?
A.A pass in the registered securities trader examination prescribed by the JSE
B.Only a university degree in finance
C.Automatic exemption after six months of employment
D.A FAIS Key Individual licence alone
Explanation: JSE Rule 6.10.5 requires fit and proper compliance under rule 4.10 and a pass in the JSE Registered Securities Trader examination prescribed by the JSE.
2Who is a registered securities trader on the JSE equities market?
A.Any retail investor who holds a JSE-listed share
B.An employee of a member registered with the JSE and authorised to enter and execute orders and report trades on the equities trading system
C.Only a JSE board director
D.A Strate CSDP settlement clerk with no trading authority
Explanation: A registered securities trader is an employee of a member who is registered with the JSE and authorised to enter/execute orders and report trades on the JSE equities trading system.
3In what order does the JSE equities central order book typically match resting orders at the same price?
A.Time first, then size, then broker code
B.Alphabetical by security name, then price
C.Price first, then visibility (displayed over non-displayed), then time of entry
D.Equal random allocation among all resting orders at that price, ignoring time
Explanation: JSE equities matching priority is price, then whether the order is visible to the market, then time of entry into the central order book.
4When is an off-book equities trade negotiated outside the trading system generally treated as a valid transaction under JSE equities rules?
A.As soon as the two parties agree verbally, with no system confirmation
B.Only after T+30 cash settlement abroad
C.When a third-party news outlet publishes the negotiated price
D.Once the purchase and sale legs have been matched and confirmed on the trading system
Explanation: Off-book trades negotiated off the system are typically only deemed valid once both legs are matched and confirmed by the trading system (trade report process).
5Why must a JSE equities member ensure its traders meet fit and proper standards?
A.Because trading authority is limited to suitably qualified, registered persons under the rules
B.Because fit and proper rules apply only to listed issuers, not members
C.Because the JSE bans all employee trading
D.Because Strate automatically registers every staff member
Explanation: Members may only authorise appropriately fit and proper, registered securities traders to use the equities trading system on their behalf.
6What is a core role of a JSE sponsor under the Listings Requirements?
A.Acting as the exclusive market maker for every AltX share
B.Guiding the applicant through listing and advising on ongoing compliance with the Listings Requirements
C.Replacing the FSCA as the exchange licence authority
D.Settling all trades in the issuer's shares through cash only
Explanation: Sponsors guide listing applicants and provide ongoing advice so issuers meet continuing Listings Requirements obligations.
7What is a continuing obligation of a JSE-listed issuer?
A.Paying every shareholder a fixed dividend each month
B.Suspending all trading permanently after listing
C.Timely disclosure of price-sensitive information and ongoing compliance with Listings Requirements
D.Appointing SAIFM as company secretary
Explanation: Listed issuers must keep complying with Listings Requirements, including prompt disclosure of price-sensitive information and other continuing obligations.
8Price-sensitive information for a listed issuer is information that:
A.Only concerns the CEO's favourite sports team
B.Must never be disclosed under any circumstances
C.Is limited to audited annual reports published five years late
D.A reasonable investor would expect could materially affect the price or value of the securities
Explanation: Price-sensitive information is material information that could reasonably affect the price or value of listed securities and generally must be disclosed promptly under continuing obligations.
9How does AltX generally differ from the JSE Main Board?
A.AltX is aimed at smaller/growth companies with lighter entry thresholds than the Main Board
B.AltX only lists government bonds
C.AltX replaces Strate for settlement
D.AltX prohibits all equity trading
Explanation: AltX is the JSE's alternative equity board for smaller or growth companies, with different (generally lighter) listing thresholds than the Main Board.
10Which activity is typically a regulated securities trading service that JSE equities members may be authorised to perform?
A.Issuing South African banknotes
B.Trading services in equities on the JSE equities trading system
C.Setting the repo rate for the SARB
D.Licensing other exchanges under the FMA
Explanation: JSE members may be authorised to perform regulated services such as trading (and related investment/custody services as applicable). Monetary policy and exchange licensing are regulator functions.

About the JSE Registered Securities Trader Exam

The JSE Registered Securities Trader Examination is the exam prescribed under JSE Rule 6.10.5 for employees of members who execute equities trades on the JSE equities trading system. The January 2018 syllabus covers JSE Equities Rules and Listing Requirements, JSE Equities Directives, the Financial Markets Act 2012, and the JSE Trading System. The official exam is 50 MCQs in 1 hour with a 70% pass mark, available at SAIFM venues or via remote online invigilation.

Assessment

50 multiple-choice questions in a computer-based summative assessment. No negative marking. Learning material is the SAIFM JSE Registered Securities Trader workbook (January 2018 edition syllabus).

Time Limit

1 hour (60 minutes).

Passing Score

70% competency (pass) mark.

Exam Fee

R2 430 (incl. VAT) per attempt effective 1 August 2025; rewrite costs the same. Optional printed learning material available for a separate fee. Confirm current prices on saifm.co.za/costs. (South African Institute of Financial Markets (SAIFM), prescribed by the Johannesburg Stock Exchange (JSE))

JSE Registered Securities Trader Exam Content Outline

25%

JSE Equities Rules and Listing Requirements

Trader registration (Rule 6.10.5), fit and proper, matching priority, on-book/off-book validity, member duties, sponsors, continuing obligations, PSI disclosure and AltX vs Main Board.

25%

JSE Equities Directives

Detailed operational and conduct standards: pre-trade controls, timely off-book reporting, cancellations, abusive orders, credentials, records, escalation and sanctions.

25%

Financial Markets Act, 2012

Licensed exchanges and securities services, authorised users, FSCA/SARB roles, market abuse, Strate/CSD, dematerialisation, DvP and T+3 equities settlement.

25%

JSE Trading System

Electronic order book mechanics: limit/market orders, depth, visibility and time priority, trade reports, trader IDs, auctions, volatility controls and post-trade settlement flow.

How to Pass the JSE Registered Securities Trader Exam

What You Need to Know

  • Passing score: 70% competency (pass) mark.
  • Assessment: 50 multiple-choice questions in a computer-based summative assessment. No negative marking. Learning material is the SAIFM JSE Registered Securities Trader workbook (January 2018 edition syllabus).
  • Time limit: 1 hour (60 minutes).
  • Exam fee: R2 430 (incl. VAT) per attempt effective 1 August 2025; rewrite costs the same. Optional printed learning material available for a separate fee. Confirm current prices on saifm.co.za/costs.

Keys to Passing

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

JSE Registered Securities Trader Study Tips from Top Performers

1Study the official SAIFM Registered Securities Trader workbook end-to-end; complete chapter activities before timed practice.
2Memorise matching priority: price, then visibility, then time — and the Rule 6.10.5 registration requirement.
3Distinguish on-book central order book matching from off-book trades that become valid only once both legs are matched/confirmed on the system.
4Know FMA building blocks: licensed exchange, authorised user, FSCA licensing, Strate/CSD, dematerialisation, DvP and T+3.
5Treat Equities Directives as the operational detail behind rules: controls, timely reporting, cancellations, credentials and escalation.
6Practise scenario questions on abusive order activity, halts and error-trade procedures — not only definitions.

Frequently Asked Questions

How many questions are on the JSE Registered Securities Trader exam and what is the pass mark?

The official exam has 50 multiple-choice questions and a 70% competency (pass) mark, with no negative marking.

How long is the exam and what does it cost?

You have 1 hour. Each attempt costs R2 430 including VAT (effective 1 August 2025); confirm the current fee on SAIFM's costs page because prices usually rise each 1 August.

Who needs this exam?

JSE Rule 6.10.5 requires a pass in the prescribed registered securities trader examination (plus fit and proper under rule 4.10) for persons seeking registration to execute equities trades on the JSE equities trading system.

Which syllabus edition should I study?

SAIFM lists the syllabus as the January 2018 edition. Always download the material linked to your purchased exam on the Virtual Exam Centre and check SAIFM notices for updates.

Is this the same as the SAIFM RPE Equity Market module?

No. RPE modules (including The Equity Market) are a separate Registered Persons Examination pathway. The Registered Securities Trader exam is the JSE-prescribed execution exam administered by SAIFM.

Are these the official SAIFM or JSE exam questions?

No. These are original OpenExamPrep practice questions aligned to the published syllabus outline. Official summative questions are confidential.