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Appropriateness Testing (Complex Bonds)

Appropriateness Tests

Complex Bonds

Hugo Investing Appropriateness Test (Complex Bonds)

Bonds can be considered complex if they are callable, convertible or index-linked for example. We are required in terms of Spanish and EU regulations to assess your appropriateness to trade these products based on your knowledge and experience.

Personal Details

First Name(s)(Required)

Last Name(s)(Required)

Email Address(Required)

Are you an existing client (select an option)?(Required)

Client ID number (if you are an existing client)(Required)

Either your Saxo or Interactive Brokers ID. If you do not fill in your ID correctly we will not capture your test results.

General Questions

Level of Education(Required)

Secondary School

College

Undergraduate Degree

Postgraduate Degree

Other professional qualifications/certificates relevant to the understanding of complex investment products

Have you worked for more than three years in a position requiring knowledge of complex financial investments?(Required)

Yes

No

How would you describe your knowledge of investing in Bonds?(Required)

No knowledge

Some knowledge

Extensive knowledge

How many Bond trades have you done in the past 2 years (across all your trading accounts)?(Required)

Less than 5

Between 5 and 50

More than 50

What is your average Bond trade value (in EUR, and across all your trading accounts)?(Required)

Less than €1000

Between €1000 and €5000

More than €5000

Test Questions

A perpetual bond is:(Required)

a bond that pays no coupon until maturity

a bond with no maturity

a bond with exactly 10 years to maturity

a bond with variable coupon

What happens if a corporate bond is called?(Required)

You will not receive a coupon for the next coupon date

The issuer buys back the bond at a pre-determined price

The issuer converts your bond to shares

The issuer has defaulted on the bond

If you buy a reverse convertible bond, you risk:(Required)

that the issuer redeems your bonds at par prior to the final maturity

No risk, only upside as you can choose whether you want to be redeemed in cash or in shares

that the issuer converts the principal amount to shares instead of cash

When you invest in perpetual bonds, you should be aware that:(Required)

they are often not intended for retail investors

many perpetual bonds issued by financial institutions are converted into shares

Perpetual bonds often include the possibility for the issuer to call the bond at specific dates and the ‘yield to call' can differ significantly from the coupon

all of the above

Submission

Once you have completed the required fields above please click the button below and you will be redirected back to the previous page where you can take additional tests if you choose or you can click continue to move on with the account opening process. We will email you your test results after your account has been opened or upon request in the future.

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