(FFMS) of Russia is engaged in the regulation of the stock market as a whole, the operations carried out on it, the relationship between its participants. Therefore, in order to carry out legal activities in the financial market, the Bank of Russia requires that specialists have a qualification certificate for working in the financial market (FSFM certificate).
Who needs to be certified
The FFMS of Russia developed and approved by Order No. 10-4/pz-n dated January 28, 2010 the Regulations on Financial Market Specialists.
It states that employees of organizations that operate in the financial market, carrying out the following activities, must undergo mandatory certification:
- depository;
- brokerage and dealer;
- securities management;
- organizer of work on the securities market;
- clearing;
- maintaining the register of securities holders;
- management of non-state pension and unit investment funds;
- specialized depository of non-state pension and mutual investment funds.
In these organizations, certification does not pass the entire staff, but only the following employees:
- head, deputy head, heads and deputy heads of branches, if their duties include decision-making in the field of the organization's activities;
- the head and deputy head of the division, if their duties include decision-making in this area, including internal accounting of transactions with securities;
- an employee whose duties include internal control over the actions of the organization in the financial market;
- an employee whose duties include the direct implementation of the organization's work in the financial market.
How to get a certificate of the FFMS of Russia is also useful for students who graduate from universities in financial specialties and intend to start working in leading companies upon graduation. In practice, employers in 80% of cases want to see among the candidates for their jobs holders of such certificates in the specialty that the organization is focused on. The presence of a ready-made certificate enables the graduate to quickly find a highly paid and interesting job.
Who is allowed to take the exam
In order for a candidate to start passing the exam for obtaining a FFMS certificate, it is necessary that he meets several conditions:
- Was over 18
- If the candidate previously had a FFMS certificate and it was canceled, then more than three years must pass from the date of cancellation.
- The candidate must successfully pass the basic exam.
Who administers the exam
Initially, the Federal Service for Financial Markets of the Russian Federation (FFMS of Russia) issued a certificate and conducted exams, which is why it is called so. Then the issuance functions were transferred to certified training centers. They are accredited by the Bank of Russia to take exams for stock market specialists and have the right to issue a certificate from the Federal Financial Markets Service. Basic and specialized examinations are also conducted by these accredited training centers. Depending on the center, the cost of the exam, otherwise called the examination fee, ranges from 2,000 to 4,000 rubles.
During the basic qualification exam, candidates are tested on their knowledge of legal acts related to the regulation of financial markets, on the ability to make simple calculations using the methods of financial and economic analysis, economic statistics and mathematical economics.
During the specialized, a test is conducted for in-depth knowledge related to a particular specialization in the financial market.
What documents are required to pass the exam
Before the basic exam, the training centers collect groups, for registration in which it is required to submit:
- a copy of the document on higher education (if any);
- a copy of the passport;
To pass a specialized exam, you must have:
- documents confirming the successful completion of the basic exam;
- a copy of the document on higher education;
- contract and questionnaire of the training center;
- a copy of the passport;
- payment receipt.
When can an exam be denied?
The reason for not admitting a candidate to the exam may be one of the following reasons:
- the candidate appeared for the exam without a document proving his identity;
- an incomplete set of required documents has been submitted;
- the submitted documents contain inaccurate or false information;
- more than five years have passed since the passing of the basic exam;
- cancellation of the results of the previous exam, if three months have not passed since its date;
- three years have not passed since the cancellation of the previous certificate of the candidate;
- earlier, the candidate had an attempt to pass the exam on someone else's passport, and from that moment less than one year had passed.
How is the exam
Entrance to testing is carried out according to the passport. The rules for conducting the exam do not differ in excessive freedom, only a pencil, pen and blank sheets of paper for writing can be used in the exam, it is allowed to use a non-programmable calculator.
During the exam it is strictly forbidden:
- use the regulatory acts of Russia in any form;
- use special and reference literature;
- use mobile communications and other ways of transmitting and storing information;
- leave the testing room before it ends;
- chat with someone about exam topics;
- record and transmit the content of test questions;
- delay the delivery of test answers after the end of the exam time;
- bring in examination papers from the testing room.
Testing takes place in electronic form in a specially equipped auditorium. The tasks and questions of the tests are formed based on the requirements of the Bank of Russia for qualifying exams for a stock market specialist. The Basic Exam and the Fifth Series Certificate Exam are two hours long, while the others are one hour long.
For the correct answer in the test system, one or two points are assigned, depending on the complexity of the question. Successful passing of the test is considered when the subject scored more than 80 points out of a possible 100. If the candidate scores from 75 to 79 points during testing, then he can appeal his results within a month from the date of the exam. The appeal takes place in the form of an independent two-hour written work with the rationale for the correctness of their answers. At the same time, it is already allowed to use legal documents.
What types of certificates exist
In order to earn a certain type of certification, you must first pass a basic qualifying exam, sometimes referred to as the Series 0.0 exam. After passing it, the certificate is not issued.
To conduct real work, specialized FFMS certificates are required. Types of specialized certificates depend on the type of activity in the financial market:
- FFMS Certificate 1.0 - training for dealer, brokerage and securities management activities.
- FSFR 2.0 certificate - for clearing activities and work on the stock exchange.
- FFMS Certificate 3.0 - for accounting of securities holders;
- FFMS certificate 4.0 - for depository activities.
- FFMS Certificate 5.0 - for the management of non-state pension, investment and mutual funds.
- FFMS certificate 6.0 - for the activities of a special depository of non-state pension, investment and
- FFMS certificate 7.0 - for the activities of funds for non-state pension provision, professional and compulsory pension insurance.
How long is the certificate issued for?
After successfully passing the exam within 15 days, the training center issues the qualification certificate of a financial market specialist to the applicant. The certificate is perpetual.
Who maintains the register of certificates
The register of issued and canceled certificates of financial market specialists is maintained by the Bank of Russia. This register contains information about:
- about the specialist who received the certificate;
- about the series and certificate number;
- on the area of the financial market for which the certificate was issued;
- other necessary information.
When changing the data contained in the unified register, the owner of the certificate is obliged to notify the Bank of Russia about this. To do this, it is enough for him to send a written application to any territorial division of the Bank of Russia, attaching copies of documents confirming the legality of the changes and a copy of the certificate.
Certificate revocation
If the owner of the certificate violates the legislation of Russia in the field and financial markets, the Bank of Russia may cancel his qualification certificate for a period of three years. After the decision to cancel within five working days, the Bank of Russia notifies the holder of the certificate from which it was canceled, attaching a copy of the corresponding order of the FFMS.
The list of canceled certificates is posted on the official website of the FFMS of Russia in free access for all interested parties within ten business days from the date of the decision to cancel. The owner of the certificate can challenge this decision only in court.
How to prepare for the exam
Recently, training centers offer candidates seeking to obtain a FFMS certificate training in preparatory courses. The convenience of attending preparatory courses lies in the possibility of:
- receiving recommendations from teachers taking the exam;
- passing pre-trial testing, which allows you to identify the weaknesses of the candidate and reduce the excitement and stress of passing the real exam;
- study of specialized manuals and with examples of questions and tasks with answers to them.
In addition, preparatory courses that can be taken remotely have become very popular. This method is much cheaper than full-time education while maintaining its quality. So, the most popular is the exam for the right to obtain a certificate of the Federal Financial Markets Service 1.0. It is not difficult to find materials for self-preparation for it.
Do you want to work in a financial company, but your resume is persistently ignored? Do you have a specialized education, but for some reason employers do not line up behind you? Perhaps the fact is that you are not a certified specialist. Read this article about what a certificate of the FFMS of Russia is, how to get it and become an expert.
In order to work in the financial market, it is not enough just to have a higher education diploma. Currently, for all employees of financial companies that conduct transactions with cash and securities, give instructions or sign documents for the implementation of such transactions, as well as occupy managerial and supervisory positions, attestation is mandatory. It is the presence of a special certificate that gives such workers the right to be called a qualified specialist. What is this document and what do you need to get it?
Certificate
Certificate of the FFMS of Russia– qualification certificate of a financial market specialist. It is issued only after passing certification in accordance with the requirements of the Federal Financial Markets Service.
Thus, in order to receive the coveted document, the applicant must pass a qualifying exam. However, this can only be done after the basic exam, which consists of general questions about the stock market, has been passed. Only after passing the “zero” test, which, by the way, does not result in a certificate being issued, will it be possible to proceed to passing specialized exams, according to the results of which you will receive a certificate from the FFMS.
Important! From April 1, 2017, exam questions for the qualification exam for financial market specialists are valid.
Qualified certificates of the FFMS are of the following types:
- FFMS certificate series 1.0 - qualification certificate of a financial market specialist in brokerage, dealer activities and securities management activities;
- FFMS certificate series 2.0 - qualification certificate of a financial market specialist in organizing trading in the securities market (stock exchange activities) and clearing activities;
- FFMS certificate series 3.0 - qualification certificate of a financial market specialist in maintaining the register of securities holders;
- FFMS certificate series 4.0 - qualification certificate of a financial market specialist in depository activities;
- FFMS certificate series 5.0 - qualification certificate of a financial market specialist in managing investment funds, mutual investment funds and non-state pension funds;
- FFMS certificate series 6.0 - qualification certificate of a financial market specialist in the activities of specialized depositories of investment funds, mutual investment funds and non-state pension funds;
- FFMS certificate series 7.0 - a qualification certificate for a financial market specialist in the activities of non-state pension funds for non-state pension provision, compulsory pension insurance and professional pension insurance.
Document validity period
All certificates issued by the FFMS of Russia have an unlimited validity period, however, the Bank of Russia has the right to cancel any document if gross and repeated violations of securities legislation by certified persons have been revealed.
The Bank of Russia regularly posts on its website a list of canceled certificates of financial market specialists.
You can check the status of the document on the regulator's website by entering the series and number of the certificate in the appropriate field.
Where can I get training and pass the FFMS exam?
On the website of the Bank of Russia, you can see the current list of accredited organizations that certify financial market specialists. On the basis of these institutions, you can also receive training.
At the time of this writing, 11 organizations have the right to train, issue relevant certificates and take exams: seven Moscow organizations (MFC Training Center, NAUFOR, IFRU, PARTAD, Plekhanov Russian University of Economics, Federal University under the Government of the Russian Federation and NFA), Samara State University of Economics, Ural Stock Market Institute, Omsk State University. F.M. Dostoevsky and Southwestern State University.
To pass the qualifying exam, it is not necessary to undergo training, but before the test, you must notify the institution authorized by the FFMS of your desire in advance.
Within three working days, you must sign up for the exam by submitting a package of documents, including
- an application form, a copy of the passport and a receipt for payment of the examination fee (for passing the basic exam)
- an application form, a copy of the passport, a receipt for payment of the examination fee, a copy of the diploma of higher professional education (if any) and an extract from the protocol on the results of passing the basic qualification exam (for registration for a specialized exam).
The exam lasts two hours. To successfully pass the test, you must score at least 80 points out of 100 possible.
If the exam was passed successfully, a certificate confirming the qualifications of the applicant will be issued to him within 15 working days in person upon presentation of a passport or through an authorized representative upon presentation of a power of attorney.
If the exam was not passed, then you can try to take it again or file an appeal (paid service). The term for consideration of the application is 15 working days.
Types of qualification certificates:
class="special lines-title">5 reasons to prepare and pass the FFMS exam at GRAND SCHOOL:
class="special lines-title">Free extension of training. If for some reason you are unable to pass the exam on the first try, we will extend your training for free until you successfully pass the exam!
Prompt advice and assistance. When studying at GRAND SCHOOl, you can contact the teacher at any time convenient for you through any communication channel: be it phone, email or Skype.
Personal manager. Each examiner receives his own personal manager who monitors the progress of the student and coordinates the next steps and provides comprehensive support for the successful passing of the exam
Examination Center. You can take the exam itself, both in our office and in the center of any of our partners!
86% of students pass the FFMS exam on the 1st attempt
The best prices. GRAND SCHOOL guarantees the best conditions for face-to-face and remote format of preparation for the FFMS exam
Our learning formats:
class="special lines-title">Full-time education
Training in the company's office with a teacher on weekdays (Tuesday and Thursday from 19:00 to 21:00
10 lessons of 2 hours
Free access to remote materials for face-to-face group
Free extension of training in case of an unsuccessful first attempt to pass the exam, the manager will extend access to remote materials absolutely free of charge!
Mock exam. Before you go to the exam, you can test your knowledge in our exam center!
Distance learning
Structured block of lectures by chapters
Webinars by course chapters
Current base of FFMS questions with answers
FFMS Exam Simulation System. (You can check knowledge both on a separate chapter and on the course as a whole)
Delivery guarantee. Free extension of training in case of an unsuccessful attempt to pass the exam.
Prepare at your convenience!
Multiplatform. You can prepare for the exam both from a computer and from any mobile device, be it a smartphone or tablet!
What is important to know:
class="special lines-title">To obtain a certificate, you first need to pass the exam for the basic exam, after which the exam for the series is taken and a certificate is issued.
After passing the Basic exam, you will be given access to take the series. If you have already passed the basic exam, you can prepare with us for the exam for the series (GRAND SCHOOL prepares for exams in all series.
State duty is paid before the exam. The amount of the state duty varies from 1800 to 3000 rubles, depending on whether you are taking the exam with us or our partner.
It takes approximately 1-1.5 months to prepare for the basic exam, and 3-4 weeks to pass the series. The price for preparing for the series is the same as for the basic course.
The percentage of correct answers (passing minimum) in the FFMS exam is 80 points and 100 possible.
Corporate customers:
class="special lines-title">Are you planning to prepare for the FFMS exams in your city? You can order distance learning for your employees.
Exam in your office. Would you like to pass the FFMS exam without taking your employees off work? - for a group of 5 people GRAND SCHOOL teachers can take an exam from your employees right in the office. Flight or travel is paid separately.
GRAND SCHOOL has special offers for corporate customers. Contact us and we will find the best option!
Page content
To the attention of financial market specialists!
From July 1, 2019, a different procedure for assessing the qualifications of employees or persons applying for a certain type of labor activity has been established.
From July 1, 2019, qualification certificates cannot be used to assess the qualifications of a person and the requirement for their presence when admitting officials of financial organizations and monitoring their activities is not applicable.
You can find a consolidated list of questions from financial market participants on the functioning of the certification system for financial market specialists after July 1, 2019 and answers to them at the link.
The Federal State Educational Budgetary Institution of Higher Education "Financial University under the Government of the Russian Federation" (Financial University) is accredited by the Bank of Russia for the right to attest financial market specialists (Certificate of the Bank of Russia No. 015 dated 06/19/2017).
Certification of financial market specialists includes taking qualifying examinations from citizens in the field of professional activity in the securities market, activities of management companies and specialized depositories and issuing relevant qualification certificates of financial market specialists to them. Certification is carried out by organizations accredited by the Bank of Russia.
The presence of qualification certificates of a financial market specialist is a prerequisite for working in organizations operating in the financial market. Such certificates must be mandatory for persons holding managerial and controlling positions in these organizations, as well as positions of specialists who carry out transactions with securities, give instructions on their implementation or sign internal reports and outgoing documents related to the implementation of such transactions.
The Scientific and Educational Center for the Development of Professional Competences and Qualifications of the Financial University carries out certification of financial market specialists for all types of professional activities in the securities market.
Certificates
Certificates of a financial market specialist are issued after successfully passing the basic exam (fundamentals of the securities market) and a specialized exam:
- certificate 1.0 - brokerage activities, dealer activities, securities management activities and forex dealer activities;
- certificate 2.0 - clearing activities and organized trading activities;
- certificate 3.0 - activities for maintaining the register of holders of securities;
- certificate 4.0 - depositary activity;
- certificate 5.0 - management of investment funds, mutual investment funds and non-state pension funds;
- certificate 6.0 - activities of specialized depositories of investment funds, mutual investment funds and non-state pension funds;
- certificate 7.0 - activities of non-state pension funds for non-state pension provision and compulsory pension insurance.
Obtaining a qualification certificate from the Bank of Russia
The Scientific and Educational Center for the Development of Professional Competences and Qualifications of the Financial University invites you to study for qualification exams and pass exams in the basic course and all types of specializations to obtain a Bank of Russia qualification certificate.
Education
Forms of study:
- Daytime education: (by enrollment of the group)
- Evening training: Monday - Thursday from 19:00 to 22:00
- Individual training
- Corporate training
For individual and corporate forms of training: duration, program and cost are discussed personally with each student.
The cost of services for taking a qualifying exam is 3,000 rubles.
Types of qualification certificates:
class="special lines-title">5 reasons to prepare and pass the FFMS exam at GRAND SCHOOL:
class="special lines-title">Free extension of training. If for some reason you are unable to pass the exam on the first try, we will extend your training for free until you successfully pass the exam!
Prompt advice and assistance. When studying at GRAND SCHOOl, you can contact the teacher at any time convenient for you through any communication channel: be it phone, email or Skype.
Personal manager. Each examiner receives his own personal manager who monitors the progress of the student and coordinates the next steps and provides comprehensive support for the successful passing of the exam
Examination Center. You can take the exam itself, both in our office and in the center of any of our partners!
86% of students pass the FFMS exam on the 1st attempt
The best prices. GRAND SCHOOL guarantees the best conditions for face-to-face and remote format of preparation for the FFMS exam
Our learning formats:
class="special lines-title">Full-time education
Training in the company's office with a teacher on weekdays (Tuesday and Thursday from 19:00 to 21:00
10 lessons of 2 hours
Free access to remote materials for face-to-face group
Free extension of training in case of an unsuccessful first attempt to pass the exam, the manager will extend access to remote materials absolutely free of charge!
Mock exam. Before you go to the exam, you can test your knowledge in our exam center!
Distance learning
Structured block of lectures by chapters
Webinars by course chapters
Current base of FFMS questions with answers
FFMS Exam Simulation System. (You can check knowledge both on a separate chapter and on the course as a whole)
Delivery guarantee. Free extension of training in case of an unsuccessful attempt to pass the exam.
Prepare at your convenience!
Multiplatform. You can prepare for the exam both from a computer and from any mobile device, be it a smartphone or tablet!
What is important to know:
class="special lines-title">To obtain a certificate, you first need to pass the exam for the basic exam, after which the exam for the series is taken and a certificate is issued.
After passing the Basic exam, you will be given access to take the series. If you have already passed the basic exam, you can prepare with us for the exam for the series (GRAND SCHOOL prepares for exams in all series.
State duty is paid before the exam. The amount of the state duty varies from 1800 to 3000 rubles, depending on whether you are taking the exam with us or our partner.
It takes approximately 1-1.5 months to prepare for the basic exam, and 3-4 weeks to pass the series. The price for preparing for the series is the same as for the basic course.
The percentage of correct answers (passing minimum) in the FFMS exam is 80 points and 100 possible.
Corporate customers:
class="special lines-title">Are you planning to prepare for the FFMS exams in your city? You can order distance learning for your employees.
Exam in your office. Would you like to pass the FFMS exam without taking your employees off work? - for a group of 5 people GRAND SCHOOL teachers can take an exam from your employees right in the office. Flight or travel is paid separately.
GRAND SCHOOL has special offers for corporate customers. Contact us and we will find the best option!
Get a free demo access to remote materials for the FFMS exam series 6.0 (Activity of the Special Depository) right now!
The cost of the distance course is from 6,000 to 14,000 rubles. Face-to-face training from 18,000 to 34,900 rubles (Discounts depending on the number of students on the part of the Customer)
