Markets of the world quiz

1. What are Tokyo's trading hours in Japan time?

1. 9:30 to 16:00
2. 24 hours a day
3. 9:00 to 11:30 and 12:30 to 15:30
4. 9:15 to 15:30

2. What are NSE's normal market hours, in India time, for shares without futures and options?

1. 9:15 to 15:30
2. 8:00 to 16:30
3. 9:00 to 15:30 with a lunch break
4. 9:30 to 16:00

3. What are the main US stock market hours in New York time?

1. 9:15 to 15:30
2. 8:00 to 16:30
3. 9:30 to 16:00
4. 9:00 to 15:30

4. Which market never closes?

1. Indian stocks
2. Tokyo stocks
3. US stocks
4. Crypto

5. While US daylight saving is on, what time is the US open in India?

1. 20:00
2. 19:00
3. 21:30
4. 18:00

6. When US daylight saving is off, what time is the US open in India?

1. 18:30
2. 21:00
3. 19:00
4. 20:00

7. When does forex trade?

1. Only at weekends
2. 24 hours a day on weekdays
3. Every day, weekends included
4. Only 9:00 to 17:00 in London

8. It is 13:30 UTC on a weekday in July. What time is it in Japan?

1. 22:30
2. 19:00
3. 04:30
4. 13:30

9. US clocks change on the second Sunday of March and UK clocks on the last Sunday. What happens in the weeks between?

1. Tokyo changes its hours
2. London and New York are one hour closer than usual
3. Both markets close
4. Nothing changes anywhere

10. You plan a Tokyo trade at 11:45 Japan time. What is the problem?

1. The market has closed for the day
2. Tokyo only trades at night
3. Nothing, it is the busiest time
4. The market is on its lunch break

11. What are India's two main stock exchanges?

1. SEBI and RBI
2. Nifty and Sensex
3. NSE and BSE
4. T+1 and F&O

12. What are the normal market hours for Indian shares without futures and options?

1. 24 hours a day
2. 9:15 to 15:30 India time
3. 9:00 to 17:00
4. 9:30 to 16:00

13. Who regulates India's securities market?

1. The Nifty 50
2. NSE
3. A demat account
4. SEBI

14. Where do your shares sit after you buy them in India?

1. In SEBI's office
2. Inside the Nifty 50
3. In a demat account
4. In a paper envelope at the exchange

15. When do most Indian share trades settle?

1. After one month
2. Never
3. One business day later (T+1)
4. The same second

16. Which index belongs to BSE?

1. TOPIX
2. The Sensex
3. The Nikkei 225
4. The Nifty 50

17. Who sets F&O lot sizes in India?

1. Nobody, any size is allowed
2. The company itself
3. Each trader
4. The stock exchanges, under SEBI's rules

18. A share costs 1,000 rupees and its F&O lot is 500 shares. What stock value does one lot control?

1. 5,00,000 rupees
2. 50,000 rupees
3. 1,000 rupees
4. 500 rupees

19. With that lot, how much does a 2% move change the value of one lot?

1. 10,000 rupees
2. 20 rupees
3. 1,00,000 rupees
4. 1,000 rupees

20. A beginner wants to own one share of a company. What is true?

1. They must buy a whole F&O lot
2. Only institutions can buy shares
3. They must wait for T+30
4. They can buy a single share in the cash market

21. What is the main US stock session in New York time?

1. 9:00 to 15:30
2. 9:30 to 16:00
3. 9:15 to 15:30
4. 24 hours a day

22. What is an ETF?

1. A fund that holds a basket of assets and trades on an exchange like a share
2. A US regulator
3. A single company's share
4. A type of candle

23. Which US regulator oversees futures markets?

1. The CFTC
2. FINRA
3. The NYSE
4. An ETF

24. What is usually true of extended-hours trading?

1. No price changes
2. More volume than the main session
3. Thinner volume and wider spreads
4. Fixed prices

25. When do most US stock trades settle?

1. One business day later (T+1)
2. Two weeks later
3. At the end of the year
4. The same second

26. Which body writes and enforces rules for US broker firms?

1. The CFTC
2. The Federal Reserve
3. The S&P 500
4. FINRA

27. Can you buy less than one share in the US?

1. Only for ETFs in Japan
2. Never
3. Some brokers offer fractions of a share
4. Only in lots of 100

28. Pre-market quote: 99.80 bid, 100.20 ask. What is the spread?

1. 100.00
2. 0.20
3. 0.02
4. 0.40

29. Buying and selling 100 shares at once with a 0.40 spread costs about how much?

1. 0.40
2. 40
3. 400
4. 4

30. A stock jumps 5% in thin after-hours trading on a few trades. What is the careful reading?

1. It proves the news is good
2. The move may not hold when the main session opens with full liquidity
3. The main session must open 5% higher
4. After-hours prices are always right

31. When is Tokyo's lunch break?

1. 12:00 to 14:00
2. 11:30 to 12:30 Japan time
3. There is no break
4. 15:30 to 16:30

32. In what unit do Tokyo shares usually trade?

1. 100 shares
2. 1,000 shares
3. 10 shares
4. 1 share

33. Which two indices are best known in Tokyo?

1. The Nifty 50 and the Sensex
2. The Nikkei 225 and the Nifty 50
3. The Nikkei 225 and TOPIX
4. The Sensex and TOPIX

34. Who is Japan's main financial regulator?

1. The Nikkei 225
2. FINRA
3. The Financial Services Agency (FSA)
4. SEBI

35. A share costs ¥2,500. How much does one 100-share unit cost?

1. ¥25,000
2. ¥2,500,000
3. ¥250,000
4. ¥2,500

36. When does Tokyo's afternoon session close?

1. 15:00 Japan time
2. 17:00 Japan time
3. 16:00 Japan time
4. 15:30 Japan time

37. What does a daily price limit do?

1. Stops the price moving beyond a set range for that day
2. Fixes the price for a year
3. Sets the trading unit
4. Closes the market at lunchtime

38. A stock closed at ¥1,000. What are its daily limits the next day?

1. There are none
2. ¥700 and ¥1,300
3. ¥500 and ¥1,500
4. ¥900 and ¥1,100

39. That stock rises to its upper limit. How much has one 100-share unit gained?

1. ¥3,000
2. ¥300
3. ¥130,000
4. ¥30,000

40. News comes out at 12:00 Japan time. When can prices on the Tokyo Stock Exchange first react?

1. Only the next day
2. At the 12:30 afternoon open
3. At 15:30
4. Immediately at 12:00

41. When does crypto trade?

1. 24 hours a day, 7 days a week
2. Only on weekdays
3. 9:30 to 16:00 New York time
4. Only at night

42. Is there one official crypto price?

1. Yes, set by one global exchange
2. No, prices can differ slightly between platforms
3. Yes, set by a central bank
4. Only at weekends

43. What is a stablecoin designed to do?

1. Replace all other coins
2. Double in value each year
3. Pay dividends
4. Track a currency such as the US dollar

44. What does keeping coins on a platform mean?

1. The regulator holds them for you
2. The coins are protected like bank deposits
3. Trusting that platform to keep them safe
4. No one can ever take them

45. When does a daily crypto candle usually start and end?

1. At a chosen time, often midnight UTC
2. At 9:15 India time
3. When the market closes for the night
4. At the New York close

46. What happened at a large crypto platform in November 2022?

1. It doubled every customer's coins
2. It halted customer withdrawals
3. It started closing at weekends
4. It became a central bank

47. What is the smallest unit of one bitcoin?

1. 0.01 bitcoin
2. 1 bitcoin
3. 0.00000001 bitcoin
4. 0.1 bitcoin

48. A coin costs 50,000 and you have 5,000. How much of the coin can you buy?

1. 0.1 coin
2. 0.01 coin
3. 1 coin
4. 10 coins

49. The coin rises from 50,000 to 52,000. How much does your 0.1 coin gain?

1. 2,000
2. 20
3. 200
4. 400

50. Why set your stop before entering a crypto trade?

1. Prices never move at night
2. Stops are not allowed later
3. Crypto has no weekends, so stops do not work
4. The market never closes, so big moves can happen while you are away

51. In EUR/USD at 1.1000, what does one euro cost?

1. 11 US dollars
2. 1,100 US dollars
3. 1.10 US dollars
4. 0.91 US dollars

52. In EUR/USD, which is the base currency?

1. Both equally
2. The euro
3. The yen
4. The US dollar

53. What is a pip on most currency pairs?

1. 0.0001
2. 0.1
3. 0.01
4. 1.0

54. What is a pip on yen pairs such as USD/JPY?

1. 0.0001
2. 1
3. 0.00001
4. 0.01

55. EUR/USD moves from 1.1000 to 1.1025. How many pips is that?

1. 25
2. 0.25
3. 250
4. 2.5

56. When is forex usually busiest?

1. During Tokyo's lunch break
2. At weekends
3. At midnight on Sunday
4. When the London and New York sessions overlap

57. When is forex closed?

1. Every night
2. At lunchtime
3. Never
4. At weekends

58. USD/JPY moves from 150.00 to 150.40. How many pips?

1. 0.40
2. 40
3. 4
4. 4,000

59. A quote shows bid 1.1000 and ask 1.1002. What is the spread in pips?

1. 20
2. 1,002
3. 2
4. 0.2

60. A trader counts 150.00 to 150.40 on USD/JPY as 4,000 pips. What went wrong?

1. They should have used 1.0 as a pip
2. They mixed up bid and ask
3. They used the 0.0001 pip of most pairs instead of the yen pair's 0.01
4. Nothing, it is right

61. What is a commodity future?

1. A type of candle pattern
2. A share in a mining company
3. A deal for a fixed amount of a commodity for a set month
4. A savings account

62. How many barrels are in a standard US crude oil contract?

1. 1,000
2. 10,000
3. 100
4. 42

63. How many troy ounces are in a standard US gold contract?

1. 1,000
2. 10
3. 1
4. 100

64. What is rolling over?

1. Doubling your position
2. Taking delivery
3. Moving your stop
4. Closing an expiring contract and opening a later month

65. Crude oil is at 80 dollars. What is one contract worth?

1. 80 dollars
2. 80,000 dollars
3. 800,000 dollars
4. 8,000 dollars

66. On crude oil, what is one tick worth per contract?

1. 10 dollars
2. 100 dollars
3. 1 dollar
4. 0.01 dollars

67. Why must you know whether a contract settles by delivery?

1. It changes the tick size
2. Delivery contracts never move
3. Holding it to the end could mean receiving or delivering the actual goods
4. It only matters for shares

68. Crude rises 0.50 dollars. How much does one contract gain?

1. 50 dollars
2. 5,000 dollars
3. 500 dollars
4. 0.50 dollars

69. Gold moves 2.00 dollars an ounce. How much is that on one 100-ounce contract?

1. 2 dollars
2. 200 dollars
3. 20 dollars
4. 2,000 dollars

70. What happened to the May 2020 WTI crude oil contract on 20 April 2020?

1. It settled at −37.63 dollars, below zero
2. It was cancelled
3. It doubled
4. It settled at exactly zero

71. In the US, can you buy a single share?

1. Only as futures
2. Only in lots of 1,000
3. No, only lots of 100
4. Yes

72. What is Tokyo's standard trading unit?

1. 1 share
2. 10 shares
3. 100 shares
4. 1,000 shares

73. How many units is a standard forex lot?

1. 1,000
2. 100,000
3. 10,000
4. 1

74. Can crypto be bought in fractions?

1. Yes, in tiny fractions
2. No, only whole coins
3. Only on weekdays
4. Only in lots of 100

75. How many units is a micro forex lot?

1. 100
2. 100,000
3. 1,000
4. 10,000

76. On EUR/USD, about how much is one pip worth for a mini lot?

1. 100 dollars
2. 10 cents
3. 10 dollars
4. 1 dollar

77. Who sets F&O lot sizes in India?

1. The RBI
2. The exchanges, under SEBI's rules
3. Nobody
4. Each trader

78. A 20-pip stop on a standard EUR/USD lot risks how much?

1. 200 dollars
2. 20 dollars
3. 2 dollars
4. 2,000 dollars

79. The same 20-pip stop on a micro lot risks how much?

1. 0.20 dollars
2. 20 dollars
3. 200 dollars
4. 2 dollars

80. Your balance is 1,000 dollars and you risk 1%. Which single lot fits a 20-pip EUR/USD stop?

1. A micro lot (2 dollars at risk)
2. A standard lot (200 dollars at risk)
3. A mini lot (20 dollars at risk)
4. Ten standard lots

81. What is a market-wide circuit breaker?

1. A trading bonus
2. A pause in trading after a very fast fall
3. A broker fee
4. A type of candle

82. Does spot crypto have a market-wide pause?

1. Yes, every night
2. Yes, at 7%
3. No
4. Only at weekends

83. In the US, what does a 20% fall in the S&P 500 do?

1. Closes the market for a year
2. Halts trading for the rest of the day
3. Nothing
4. Pauses trading for 15 minutes

84. What does Tokyo use to limit each stock's move in a day?

1. A daily price limit
2. A 20-minute lunch
3. A weekly lot size
4. A crypto rule

85. A 7% US fall happens at 11:00 New York time. What happens?

1. Nothing happens
2. Only crypto pauses
3. Trading stops for the day
4. Trading pauses for 15 minutes

86. A 7% US fall happens at 15:40 New York time. What happens?

1. No market-wide pause
2. A 20% halt
3. Trading stops for a week
4. A 15-minute pause

87. On which days in March 2020 did US stocks pause for 15 minutes?

1. None
2. Only 1 March
3. 9, 12, 16 and 18 March
4. Every day of the month

88. The S&P 500 closed at 5,000. At what level would a 13% fall trigger?

1. 4,000
2. 4,650
3. 4,870
4. 4,350

89. India's market-wide circuit breakers watch which indices?

1. No index at all
2. The S&P 500 and TOPIX
3. The Nifty 50 and the Sensex
4. The Nikkei 225 only

90. After a 15-minute pause, can prices keep falling?

1. No, trading ends for good
2. No, prices must rise
3. Only in crypto
4. Yes, a pause does not stop losses

91. Which of these is a trading cost?

1. The candle's wick
2. The bid-ask spread
3. The chart color
4. The trading hours

92. Is a zero-commission trade free?

1. Yes, completely
2. Only for crypto
3. Only at weekends
4. No, the spread and fees remain

93. What is STT in India?

1. A tax charged on certain securities transactions
2. A trading session
3. A type of candle
4. A stock exchange

94. Why does every round trip start slightly behind?

1. Prices always fall after you buy
2. Charts lag
3. You buy at the higher ask and sell at the lower bid
4. Brokers delay orders

95. Bid 99.95, ask 100.05. What is the spread?

1. 0.05
2. 0.10
3. 0.01
4. 100.00

96. What extra cost can a leveraged position held overnight have?

1. A lunch-break fee
2. None ever
3. A candle tax
4. Financing, such as a forex swap or a crypto funding payment

97. How do costs change the win rate needed to break even?

1. They lower it
2. They set it to zero
3. They raise it
4. They leave it unchanged

98. The spread costs 10 and commission is 5 each way. What is the round-trip cost?

1. 10
2. 5
3. 20
4. 15

99. A 2R plan loses 0.2R to costs on every win and every loss. What win rate breaks even?

1. 25%
2. 50%
3. 33.3%
4. 40%

100. Your round-trip cost is 20. Which planned reward meets a 'three times the cost' rule?

1. 60 or more
2. 30
3. 20
4. 40

101. What is settlement?

1. When the cash and the asset actually change hands
2. When you place the order
3. When the market opens
4. When a candle closes

102. When do most US and Indian share trades settle?

1. Two weeks later
2. One year later
3. One business day later (T+1)
4. The same second

103. When do most Japanese share trades settle?

1. After a month
2. Two business days later (T+2)
3. Instantly
4. One business day later (T+1)

104. Should you ever share your wallet recovery phrase?

1. Only with strangers who ask nicely
2. Yes, on social media
3. Yes, with support staff
4. No, never, not even with 'support staff'

105. Where are Indian shares held?

1. In paper form at home
2. Electronically in a demat account through a depository
3. Inside the exchange's app only
4. With SEBI's staff

106. What must brokers do with clients' assets?

1. Mix them with company money
2. Send them to the regulator
3. Invest them for fun
4. Keep them separate from the broker's own

107. What does self-custody of crypto mean?

1. The platform holds your coins
2. A bank insures your coins
3. You hold the keys, and all the responsibility
4. The regulator stores them

108. You buy on Thursday the 10th. When does a T+2 trade settle?

1. Friday the 11th
2. Saturday the 12th
3. Monday the 14th
4. Tuesday the 15th

109. What happened at a large crypto platform in November 2022?

1. It paid every customer double
2. It halted customer withdrawals
3. It moved to T+2
4. It became a depository

110. Which is the best comparison of platform custody and self-custody?

1. Platform: convenient but you trust them; self-custody: full control but full responsibility
2. Self-custody means the regulator protects you
3. Both carry no risk at all
4. Platform custody is always safer

111. Can trading profits be taxed?

1. Yes, in many countries
2. Only if you lose money
3. No, never
4. Only in crypto

112. What often changes how a gain is taxed?

1. How long you held the asset
2. The time of day you traded
3. The color of the chart
4. Your favorite indicator

113. Where should you check tax rules?

1. An old social media post
2. A friend's guess
3. A chat group
4. Current official guidance or a qualified professional

114. Why keep records of every trade?

1. They are not needed
2. To report gains and losses correctly
3. Because charts need them
4. To impress friends

115. In the US, when is a gain on shares long-term?

1. When held for one day
2. When held for more than one year
3. Never
4. When held for one week

116. In India, listed shares held for how long give long-term gains?

1. Any length of time
2. More than 5 years
3. More than 1 month
4. More than 12 months

117. What does Japan offer residents to invest with tax advantages?

1. NISA accounts
2. Demat accounts
3. T+2 accounts
4. F&O lots

118. Shares bought on 1 March 2025 and sold on 1 February 2026 were held for how long?

1. 1 month
2. 12 months
3. 11 months
4. 13 months

119. Under a more-than-12-months rule, which sale counts as long-term?

1. Sold after 6 months
2. Sold after 13 months
3. Sold after exactly 12 months
4. Sold after 11 months

120. How does India usually treat F&O trading income?

1. As a gift
2. As a long-term capital gain
3. As business income
4. As tax-free income

121. Who regulates India's securities market?

1. SEBI
2. The FSA
3. The CFTC
4. FINRA

122. Who is Japan's main financial regulator?

1. SEBI
2. The FSA
3. The SEC
4. The RBI

123. Which US body oversees futures markets?

1. The FSA
2. The CFTC
3. The RBI
4. SEBI

124. What should you do before sending money to a platform?

1. Trust its ads
2. Ask a chat group
3. Look at profit screenshots
4. Check its registration on the regulator's official website

125. A chat group promises 5% a day, every day. What is it?

1. A registered product
2. A regulator's offer
3. A normal return
4. A red flag

126. Does registration mean a regulator recommends a firm's products?

1. Only in Japan
2. Yes, always
3. No, registration is not an endorsement
4. Only for crypto

127. In India, how may residents deal in forex?

1. On any app they like
2. Only through social media groups
3. Freely on unregistered platforms
4. Only through RBI-authorised channels and for permitted purposes

128. At 5% a day, what would 10,000 become after 20 trading days?

1. About 26,533
2. About 20,000
3. About 11,000
4. About 15,000

129. A website says an investment is 'approved by the SEC'. What is the careful reading?

1. A warning sign; regulators do not endorse investments
2. A promise of returns
3. Proof that it is safe
4. A sign to invest more

130. Which is the strongest green flag?

1. Thousands of followers
2. A countdown timer to invest now
3. A registration number you checked on the regulator's own website
4. Screenshots of big profits

131. What is the US retail forex leverage cap on major pairs?

1. 500:1
2. 50:1
3. 30:1
4. 25:1

132. What is Japan's retail forex leverage cap?

1. 30:1
2. 100:1
3. 50:1
4. 25:1

133. What is the retail cap on major pairs in the UK and EU?

1. 25:1
2. 200:1
3. 30:1
4. 50:1

134. Should the maximum leverage on offer be your target?

1. Only for beginners
2. No, it is a ceiling, not a target
3. Only on Fridays
4. Yes, always use the maximum

135. In India, what are rupee currency derivatives allowed for?

1. Any speculation
2. Only crypto trading
3. Hedging real currency risk only
4. Nothing at all

136. A 100,000 position at 50:1 needs how much margin?

1. 2,000
2. 500
3. 50,000
4. 5,000

137. The same position at 25:1 needs how much margin?

1. 400
2. 25,000
3. 2,500
4. 4,000

138. A 2% move against a 100,000 position loses 2,000. What share of the margin is that at 25:1?

1. Half
2. A quarter
3. All of it
4. Twice the margin

139. At 100:1 leverage, about what move against you wipes out the margin?

1. 25%
2. 10%
3. 50%
4. 1%

140. Why can losses on some crypto platforms arrive so fast?

1. Crypto prices never move
2. Crypto platforms cap leverage at 2:1
3. They have offered leverage of 100x or more, far above the forex caps
4. Regulators repay every crypto loss