Iran Capital Market Dealing Exam

It is a multiple-choice test delivered in Persian. Items are largely scenario-based, asking you to apply a rule to a described situation rather than recall a definition. The official body publishes the current number of questions, session length, and scoring method, so check its site before you plan your sitting.

Most candidates find the regulation and post-trade sections hardest because the details are procedural and unforgiving. Instrument sections reward structured study. Difficulty comes less from obscure facts than from precise wording: an item may hinge on one word such as settlement date or eligibility. Practicing timed sets exposes this quickly.

Retake rules, waiting periods, and any limit on attempts are set by the certifying body and can change. Do not rely on forums or older guides. Confirm the current retake policy, registration windows, and any required refresher through the official organization before assuming you can simply rebook immediately.

Candidates with a finance background often need several weeks of focused study; career changers should budget more. Weight your time by domain share: law and regulation plus trading mechanics together account for roughly a third of the content. Finish with full-length timed practice under exam conditions rather than rereading notes.

Start with law and market structure, because every later topic assumes that vocabulary. Then take equities, fixed income, and collective schemes as a block. Study trading and order handling next, followed by clearing and settlement, which builds directly on it. Leave ethics and AML for last but do not skip them.

Three recur: memorizing numbers without understanding the rule behind them, confusing order types and validity conditions, and muddling pre-trade obligations with post-trade settlement steps. A fourth is skimming ethics and AML as common sense. These sections contain specific duties and escalation requirements that generic reasoning will not recover.

Some fixed income and valuation items involve calculation, typically straightforward arithmetic on price, yield, or accrued amounts. You are unlikely to need advanced mathematics, but you should be fluent in the standard relationships and comfortable doing them without a spreadsheet. Practice by hand so the mechanics become automatic.

Treat them as diagnostics, not a scoreboard. After each set, write down why every wrong option was wrong, not just why the right one was right. Distractors usually encode a real misconception, such as mixing a rights issue with a bonus issue, so the explanations are where most of the learning happens.

No. The firm-level license applies to the brokerage or dealer entity; this certification applies to the individual who deals with clients and the market. Passing it does not by itself authorize you to operate independently. Employment and registration requirements are separate and are set by the regulator.