home Exchange rates Types of securities. Shares Rights of the owner of a share

Types of securities. Shares Rights of the owner of a share

Question code: 2.1.89 An investment share grants the owner the following rights:

I. Share in the right of ownership of the property constituting the unit investment fund II. Ownership of property constituting a unit investment fund

III. The right to demand from management company proper trust management mutual fund

IV. Right to receive income (interest)

V. The right to receive monetary compensation upon termination of the contract of trust management of a unit investment fund with all owners of investment units of this unit investment fund Answers:

A. I, III, V

B. II, IV, V

C. I, IV, V

D. II, III, IV

Question code: 2.1.90 The investment share of one mutual fund certifies: Answers:

A. The same share in the right of common ownership of the property constituting the unit investment fund, and the same rights

b. Different shares in the right of common ownership of the property constituting the mutual fund, but the same rights

C. The same share in the right of common ownership of the property constituting the unit investment fund, but different rights

D. Different shares in the right of common ownership of the property constituting the mutual fund and different rights

Question code: 2.1.91 Investment units can be issued as: Answers:

A. Documentary bearer securities

b. Registered documentary securities

C. Registered non-documentary securities

D. Undocumented bearer securities

Question code: 2.1.92 Restrictions on the circulation of investment shares can be set: Answers:

A. management company

b. release decision

C. federal law

D. Foundation Rules

Question code: 2.1.93 In cases where it is required to compile a list of holders of investment units, the depository, which in

a nominee account is opened in the register of holders, is obliged to provide the register keeper with the information necessary for compiling the list of holders of investment units, no later than:

A. One working day from the date of receipt of the relevant request

b. Two working days from the date of receipt of the relevant request

C. Five working days from the date of receipt of the relevant request

D. Seven working days from the date of receipt of the relevant request

Question code: 2.1.94 Mortgage coverage can be:

I. Claims secured by a mortgage for the return of the principal amount of the debt and (or) for the payment of interest under credit agreements and loan agreements, including those certified by mortgages;

II. Mortgage participation certificates certifying the share of their owners in the common ownership of other mortgage coverage;

III. Cash in foreign currency Russian Federation; IV. Cash in foreign currency;

V. Government securities;

VI. Real estate in cases stipulated by the Federal Law. Answers:

A. All but II

B. All but IV

C. All but VI

D. All of the above

Question code: 2.1.95 A mortgage participation certificate grants the owner the following rights:

I. Share in common ownership of mortgage coverage II. Ownership of mortgage coverage

III. The right to demand from the person who issued it proper trust management of mortgage coverage IV. The right to participate in trust management of mortgage coverage

V. Right to receive income from the trust management of mortgage coverage

VI. The right to receive funds received in fulfillment of obligations, the requirements for which constitute mortgage coverage Answers:

A. I, III, VI

B. II, IV, V

C. II, III, VI

D. I, IV, V

Issue code: 2.1.96 An issuance security that secures the right of its owner to purchase within the period specified in it

and/or upon the occurrence of the circumstances specified in it of a certain number of the issuer's shares at the price specified in this security, is:

A. Issuer option

b. Option contract

C. futures contract

D. forward contract

Question code: 2.1.97 Indicate the correct statements regarding the issuer's option:

I. Is an emissive security

II. Is a non-issued security

III. It is a derivatives market instrument that determines the rights to receive (transfer) property (including money, currency values and securities) or information on the condition that the option holder can unilaterally waive rights to it

IV. Secures the right of its owner to purchase within the stipulated period and / or upon the occurrence of the circumstances specified in this security a certain number of the issuer's shares at a price specified in this security

V. Is a registered security

VI. Is a bearer security Answers:

A. I, IV, V

B.III

C. II, VI

D.VI

Question code: 2.1.98 Indicate correct statements regarding the form of the issuer's option: Answers:

A. Documentary security bearer

b. Order documentary security

C. Registered documentary security

D. Registered non-documentary security

Issue code: 2.1.99 An issuance security that establishes the right of its owner to receive a security from the issuer in

the period of its nominal value or other property equivalent provided for in it Answers:

A. Promissory note

B. Bond

D. Investment share

Question code: 2.1.100 What is the name of a bond on which no interest is paid, and the investor receives income from

the difference between the purchase price and the redemption of the bond at par. I. Coupon;

II. Discount couponless. Answers:

A. I

B.II

C. All of the above

D. Correct answer not specified

Question code: 2.1.101 Indicate the correct statements regarding the bond:

I. A bond is an emissive security

II. The bond is a non-issued security

III. The bond secures the right of its owner to receive from the issuer within the period provided for in it its face value or other property equivalent

IV. The bond secures the rights of its owner to receive part of the profit of the joint-stock company in the form of dividends, to participate in the management of the joint-stock company

V. A bond may provide for the right of its owner to receive a fixed percentage of the nominal value of the bond or other property rights

VI. The yield on a bond is interest and/or discount. VII. Bonds earn dividends

A. I, III, V, VI

B. II, IV, VII

C. I, IV, VII

D. I, IV

Question code: 2.1.102 In accordance with the Federal Law "On the Securities Market", the fulfillment of obligations under bonds can be ensured by:

I. Pledge II. forfeit

III. Withholding of the debtor's property IV. Guarantee

V. Bank guarantee VI. deposit

VII. State or municipal guarantee Answers:

A. Only I, IV, V, VII

B. Only II, III, VI

C. Only V, VII

D. Only I, IV, VI

Question code: 2.1.103 Indicate the correct provisions regarding the security of the bond

I. Only securities and immovable property can be pledged

II. The subject of pledge can be any thing, including money and securities, other property, including property rights

III. The period for which a bank guarantee is issued must exceed the date (expiration date) of the bond redemption by at least 6 months.

IV. The term for which a bank guarantee is issued may be equal to the maturity of bond V. Mortgage-backed bonds must be placed before state registration mortgages

VI. It is prohibited to place mortgage-backed bonds before the state registration of the mortgage Answers:

B. II, IV, V C. I, IV

Question code: 2.1.104 A mortgage-backed bond is: Answers:

A. A bond, the performance of obligations on which is secured in whole or in part by a pledge of mortgage coverage

b. A security that gives its owner the right to pay monetary obligations under an agreement with mortgage coverage

C. A bond, the fulfillment of obligations on which provides for the payment of income by real estate pledged by the issuer

D. A bond, the fulfillment of obligations under which provides for the payment of its nominal value by real estate pledged by the issuer

Question code: 2.1.105 Specify patterns that need to be taken into account by the borrower and lender in order to

determine the interest rate for using the loan?

I. The higher the credit rating, the higher the interest rate for using the loan II. The higher the credit rating, the lower the interest rate for using the loan

III. The more stable the policy of the state, the higher the interest rate for using the loan IV. The more stable the policy of the state, the lower the interest rate for using the loan

V. The higher the inflation rate in the country, the higher the interest rate that lenders will require for using the loan

VI. The higher the inflation rate in the country, the lower the interest rate that lenders will require for using the loan Answers:

A. I, III, V B. II, IV, VI C. I, IV, V

Question code: 2.1.106 Indicate the correct statements regarding the form of a corporate bond:

I. Documentary security to bearer; II. Order documentary security;

III. Registered documentary security;

IV. Registered non-documentary securities. Answers:

A.II

B.III

C. I and IV

D. I, III and IV

Question code: 2.1.107 Indicate the correct statement about a floating rate bond Answers:

A. The market price of a floating rate bond is less volatile than the market price of a fixed rate bond

b. The market price of a floating rate bond is more volatile than the market price of a fixed rate bond

C. The floating interest rate on the bond is continuously adjusted depending on the level of inflation

D. The market prices of a floating rate bond and a fixed rate bond move identically

Question code: 2.1.108 Indicate correct statements regarding the market prices of bonds with a fixed and floating interest rate

I. The market price of a bond with a fixed coupon rate does not change, since the coupon is a constant value throughout the life of the bond

II. The market price of a fixed-coupon bond varies with market interest rates.

III. The market price of a floating rate bond does not change because the coupon is adjusted

V depending on market interest rates

IV. The market price of a bond with a floating coupon rate is less volatile than the market price of a bond with a fixed coupon rate Answers:

A. I and III

B. II and III

C. I and IV

D. II and IV

Question code: 2.1.109 Check the incorrect statement regarding the state guarantee: Answers:

A. Securities issued by third parties, obligations under which are guaranteed by the Russian Federation, are not government securities

b. The period of the state guarantee is determined by the period of fulfillment of obligations on securities of third parties

C. The decision to secure the fulfillment of obligations under the securities of third parties is taken by the Government of the Russian Federation

D. The guarantor under the state guarantee is jointly and severally liable for the obligation guaranteed by him

Question code: 2.1.110 A document containing an unconditional obligation of the drawer to pay a certain amount of money in

certain period to the holder is called: Answers:

A. Promissory note

b. bill of exchange

C. Draft

D. Rekta-bill

Question code: 2.1.111 What is the name of the guarantee of payment on a bill for any person obligated under it: Answers:

A. Acceptance

B. Allonge

C. Endorsement

D. Aval

Question code: 2.1.112 What is the drawer of a bill of exchange called? Answers:

A. Drawer

B. Drawer

C. Remittent

D. Avalist

Question code: 2.1.113 What is the payer of a bill of exchange called? Answers:

A. Drawer

B. Drawer

C. Remittent

D. Avalist

Question code: 2.1.114 What is the name of the holder of a bill of exchange: Answers:

A. Drawer

B. Drawer

C. Remittent

D. Avalist

Question code: 2.1.115 The absence of what details deprives the document of the force of a bill of exchange:

I. The name "bill" included in the text of the document itself and expressed in the language in which this document is drawn up

II. Payer's name

III. Specifying the due date

IV. Signature of the person who issues the bill (drawer)

V. Name of the person to whom or to whose order the payment is to be made VI. Indicate the date of drafting the bill

VII. Indication of the place of drawing up the bill

VIII. Indication of the place where the payment should be made Answers:

A. I, II, IV, V, VI

B. III, VII, VIII

C. I, II, III, VII, VIII

D. I, III, V, VII, VIII

Question code: 2.1.116 Mandatory details of a promissory note

I. The name "bill" included in the text itself and expressed in the language in which this document is drawn up

II. A simple and unconditional promise to pay a certain amount III. Specifying the due date

IV. Payer's name

V. Indication of the place where the payment is to be made

VI. Name of the person to whom or to whose order the payment is to be made VII. Dates of drafting a bill

VIII. Indication of the place of drawing up the bill

IX. Signature of the person who issues the document (drawer) Answers:

A. I, II, V, VI, VII, IX

B. III, IV, VIII

C. I, III, V, VII, IX

D. III, IV, V, VIII

Question code: 2.1.117 Indicate the correct statements regarding endorsement:

I. Endorsement must be simple and unconditional

II. An endorsement may be subject to conditions specified in additional sheet III. Partial endorsement is invalid

IV. The endorsement transfers all rights arising from the bill

V. The endorser has the right to transfer by endorsement a part of the rights, indicating them on the additional sheet VI. Crossed out endorsements are considered unwritten

VII. A bill of exchange is considered invalid if it contains crossed out endorsements Answers:

A. I, III, IV, VI

B. II, V, VII

C. I, IV, VII

D. None of the above

Question code: 2.1.118

A bill of exchange has the right to undertake:

I. Citizens of the Russian Federation

II. Legal entities of the Russian Federation

III. The Russian Federation, constituent entities of the Russian Federation, urban, rural settlements and other municipalities only in cases specifically provided for by federal law IV. Foreign citizens

V. Foreign governments and international organizations Answers:

A. I, II, III

B. II, III, IV, V

C.II

D. I, II, III, IV, V

Question code: 2.1.119 Bills of exchange payable within a certain period of time from presentation must be presented for acceptance within:

A. One year from the date of issue

b. Three years from the moment when the person knew or should have known about the violation of his rights

C. Three months from the date of issue

D. 10 banking days

Issue code: 2.1.120 A bill of exchange can be issued for a period: I. Upon presentation

II. So much time from presentation

III. At so much time from the compilation of IV. On a certain day

V. Before any event occurs

VI. Successive due dates can be set Answers:

A. I, II, III, IV

B. I, II, III, IV, V, VI

C. I, II, III, V, VI

D. II, III, IV, V

Question code: 2.1.121 In accordance with the letter of the Central Bank of Russia “On banking operations with bills of exchange”, banks perform the following types of operations:

I. Accounting for bills

II. Issuance of demand loans on a special loan account secured by bills of exchange III. Acceptance of bills of exchange for collection to receive payments and to pay bills on time Answers:

A. Only I B. Only II

C. I and II only

D. All of the above

Question code: 2.1.122 Specify the correct sequence of actions for the collection of bills by banks

I. The holder of the bill presents the bill to the bank

II. The bank assumes responsibility upon presentation of the bill of exchange to the payer within the period specified by the holder of the bill in order to receive payment

III. Upon receipt of payment, the bill is returned to the debtor

IV. Upon receipt of payment, the bill is returned to the drawer

V. If payment is not received, the bill is returned to the creditor, but with a protest in non-payment Answers:

A. I, II, III, V

B. II, IV, V

C. I, II, IV

D. II, III, IV, V

Question code: 2.1.123 Specify signs of domiciliation of bills by the bank:

I. The bank is the payer of the bill

II. The bank acts as the payee of the bill of exchange

III. external sign domiciled bill is the words "payment" or "payment in .... bank", placed under the payer's signature

IV. An external sign of a domiciled bill is the indication of the word “domiciliated” in the name of the bill

V. The bank pays the domiciled bill of exchange if the payer paid him the bill amount earlier or if the client has a sufficient amount on his settlement (current) account and authorizes the bank to write off from his account the amount necessary to pay the bill

VI. The bank pays the domiciled bill from its own funds, which is then entitled to recover from the payer in the manner prescribed by Article 851 Civil Code Russian Federation Answers:

A. I, III, V

B. II, IV, VI

C. I, IV, V

D. II, III, VI

Question code: 2.1.124 The essence of bills accounting is as follows: Answers:

A. The holder of the bill transfers (sells) the bills to the bank by endorsement before the due date and receives the bill amount for this minus the early receipt of a certain percentage of this amount

b. The Bank collects and forms in writing information on promissory notes issued and received, as well as on promissory notes, indicating the name of the drawer (bill holder), payer, promissory note amount, payment term

C. Bill accounting is a subsection of accounting

D. Accounting for promissory notes issued for an amount equal to or exceeding 600 thousand rubles is one of the programs implemented in order to counteract the legalization (laundering) of proceeds from crime and the financing of terrorism

Question code: 2.1.125 Income from operations with a bill of exchange, the issuance of which is based on loan relations, is recognized:

I. Amount of a bill of exchange on an interest-bearing bill II. Interest on a bill

III. Amount of a bill of exchange on an interest-free bill IV. Discount amount

A. II, IV

B. I, II, IV

C. I, III

D. All of the above

Question code: 2.1.126 An endorser may relieve himself of liability for payment of a bill of exchange by stipulating: Answers:

A. Not ordered

b. Turnover without costs

C. Pay Order

D. No turnover on me

Question code: 2.1.127 A mortgage certifies the following rights of its owner

I. The right to receive performance under a monetary obligation secured by a mortgage without presenting other evidence of the existence of this obligation

II. The right to pledge property encumbered with a mortgage

III. The right to receive part of the profits in the form of dividends

IV. The right to receive after the expiration of the established period the amount of the deposit and the interest stipulated in this security Answers:

A. I, II

B. II, III

C. I, IV

D. III, IV

Question code: 2.1.128 Mortgage is: Answers:

A. bearer securities

b. registered security

C. order security

D. Not a security

Question code: 2.1.129 Who issues the mortgage bond to the original pledgee? Answers:

A. Pledgor

b. The body carrying out the state registration of rights, before the state registration of the mortgage

C. The body carrying out the state registration of rights, after the state registration of the mortgage

D. The body that registers the rights to registered securities

Question code: 2.1.130 A security certifying the amount of the deposit made to the bank and the right of the depositor to receive

the expiration of the established period of the deposit amount and conditional interest is called: Answers:

A. savings book

B. Warrant

C. Bill of lading

D. Deposit (savings) certificate

Question code: 2.1.131 Drawing up and issuing a certificate of deposit confirms the conclusion of an agreement: Answers:

A. Storage

b. bank deposit

C. Depositary

D. Trust management

A share is an issuance security that secures the rights of its owner to receive a part of the profit of a joint-stock company in the form of dividends, to participate in the management of a joint-stock company and to a part of the property remaining after its liquidation.

Participation share - the property right of a company participant with limited liability endowing its owner with a set of property and non-property rights in relation to the company.

A bond is an issuance security that secures the holder's right to receive from the issuer within the period stipulated by the bond the nominal value and the percentage of this value fixed in it or other property equivalent.

The authorized capital of a company is a conditional value equal to the total value (monetary value) of the participants' contributions made as payment for the acquired right to participate in the company, necessary to determine the amount of the participant's (shareholder's) claims to the company.

Ordinary share - a share that grants the owner the same amount of rights: the right to receive part of the profit of the joint-stock company in the form of dividends, the right to participate in the management of the joint-stock company and the right to receive part of the property remaining after its liquidation.

A preferred share is a share that, as a rule, does not grant the right to vote at a general meeting of shareholders, the amount of the dividend and (or) the liquidation value of which must be determined in the company's charter.

Declared shares - shares, the issue and placement of which is planned by the company in the future in addition to the already placed shares.

Outstanding shares - shares acquired by shareholders.

Undocumented security - a security, the rights to which are fixed by entering data on their owner, quantity, nominal value and category of securities belonging to him in special lists (registers).

Fractional share - a part of a share formed in the cases provided for by law and granting rights to their owner in an amount corresponding to a part of the whole share that it constitutes.

The nominal value of the participant's share is a notional value in monetary terms determined by the value of the participant's contribution to the authorized capital of the limited liability company.

The pre-emptive right to purchase a share is the right belonging to a member of a limited liability company to purchase a share (part of a share) of a member of the company at the offer price to a third party.

Issue - a sequence of the issuer's actions aimed at accumulating funds by the issuer through the placement of securities.

Equity security - a security, including non-documentary, which is simultaneously characterized by the following features: fixes a set of property and non-property rights subject to certification, assignment and unconditional exercise in compliance with the form and procedure established by law; placed by issues; has equal volume and terms of exercising rights within one issue.

Issuers of emissive corporate securities - legal entities, bearing on their own behalf obligations to the owners of securities to exercise the rights secured by them.

We continue to analyze questions and answers to the basic exam of the FSRF. We are nearing the end of Topic 1.3 and are approaching the first 10 percent of all questions. A small milestone, so to speak. Don't forget ours. You will like it, help in the preparation..

This time, the explanations will not be written in italics. Tell me, is it better or worse? Previously, if I inserted a quote from the law, I wrote it in italics to somehow separate it, but it seems to me that it is more difficult to read. What do you think?

Question code: 1.1.158

An issuance security that secures the right of its owner to purchase a certain number of the issuer's shares at the price specified in this security within the period specified in it and / or upon the occurrence of the circumstances specified in it at the price specified in this security is:

Answers:

A. Issuer option
B. Option Contract
C. Futures contract
D. Forward contract

Question code: 1.2.163

Indicate the correct statements about the bond.

I. A bond is an emissive security;

II. A bond is a non-equity security:

III. The bond secures the right of its owner to receive from the issuer within the period provided for in it its face value or other property equivalent;

IV. The bond establishes the rights of its owner to receive part of the profit of the joint-stock company in the form of dividends, to participate in the management of the joint-stock company;

V. A bond may provide for the right of its owner to receive a fixed percentage of the nominal value of the bond or other property rights:

VI. The yield on a bond is interest and/or discount;

VII. The income from bonds is dividends.

Answers:

A. I, III, V, VI
B. II, IV, VII
C. I, IV, VII
D.I.IV

Question code: 1.1.167

Indicate the correct statements regarding the form of a corporate bond:

I. Documentary security to bearer;
II. Order documentary security;
III. Registered documentary security;
IV. Registered non-documentary securities.

Answers:

A.II
B.III
C. I and IV
D. I, III and IV

Question code: 1.1.168

Indicate the correct statement about a floating rate bond.

Answers:

A. The market price of a floating rate bond is less volatile than the market price of a fixed rate bond

B. The market price of a floating rate bond is more volatile than the market price of a fixed rate bond

C. The floating interest rate on a bond continuously adjusts to the rate of inflation

D. Market prices of a floating rate bond and a fixed rate bond move identically

Once upon a time in 1997 it was tutorial titled "Basic Course on the Securities Market". The questions were partly compiled from there and have been wandering for many years. In general, we read:

"Some of the bonds may have a floating rate coupon. In order to issue floating rate bonds, the same "quality" criteria must be met, and the floating rate itself will be updated as a value or percentage above the base rate. Thus, the market price bonds will be less volatile because the interest rate will be adjusted, for example, every six months in order to reflect market conditions Nowadays."

Question code: 1.1.169

Indicate correct statements about the market prices of bonds with a fixed and floating interest rate.

I. The market price of a bond with a fixed coupon rate does not change, since the coupon is a constant value during the entire period of circulation of the bond;

II. The market price of a fixed-coupon bond varies with market interest rates;

III. The market price of a floating rate bond does not change because the coupon is adjusted to market interest rates;

IV. The market price of a floating coupon bond is less volatile than the market price of a fixed coupon bond.

Answers:

A. I and III
B. II and III
C. I and IV
D. II and IV

See the answer to the previous question.

Question code: 1.1.170

Answers:

A. Promissory note
B. Bill of exchange
C. Draft
D. Rekta-bill

Believe it or not, but the question is under the Federal Law, which became invalid 10 years ago. There was such a Federal Law "On banking operations with bills", according to which:

"A promissory note is written document containing a simple and unconditional obligation of the drawer (debtor) to pay a certain amount of money at a certain time and in a certain place to the holder or his order.

The new questions are...

Question code: 1.1.171

What is the name of the guarantee of payment on a bill for any person liable under it?

Answers:

A. Acceptance
B. Allonge
C. Endorsement
D. Aval

"The endorsement must be simple and unconditional. Any condition limiting it is considered unwritten. Partial endorsement is invalid. Crossed out endorsements are considered unwritten."

Question code: 1.2.176

In accordance with the Federal Law "On a bill of exchange and a promissory note", a bill of exchange and a promissory note have the right to undertake:

I. Citizens of the Russian Federation;

II. Legal entities of the Russian Federation;

III. the Russian Federation, constituent entities of the Russian Federation, urban, rural settlements and other municipalities only in cases specifically provided for by federal law;

IV. Foreign citizens;

V. Foreign governments and international organizations.

Answers:

A. I, II, III
B. II, III, IV, V
C.II
D. I, II, III, IV, V

"Citizens of the Russian Federation and legal entities of the Russian Federation are entitled to be bound by a bill of exchange and a promissory note.

The Russian Federation, subjects of the Russian Federation, urban, rural settlements and other municipal formations have the right to be bound by a bill of exchange and a promissory note only in cases specially provided for by federal law."

Question code: 1.2.177

A bill of exchange may be issued for a period of:

I. On presentation;
II. At so much time from presentation;
III. So much time from compilation;
IV. On a certain day;
V. Before the occurrence of any event;
VI. Consecutive payment terms can be set.

Answers:

A. I, II, III, IV
B. I, II, III, IV, V, VI
C. I, II, III, V, VI
D. II, III, IV, V

In this case, we are talking about a bill of exchange, for which, according to Article 33 of Chapter V "On the term of payment" of the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR of 07.08.1937 N 104/1341 "On the Enactment of the Regulations on a Transfer and Promissory Note":

Answers:

A. Only I
B. II only
C. I and II only
D. All of the above

The original source could not be found, but there is such an Association of Bill Market Participants in 1998 issued a standard for the transfer of bills, according to which:

"The bill remains valid in the following cases:

a) if all obligatory and additional details of the bill are kept, except for non-bill ones. Failure to preserve the elements of protection against forgery does not affect the strength of the bill;

b) in the presence of glued torn off pieces, if the torn off parts certainly belong to this bill;

c) in the presence of sealed tears;

d) if there are stains, if they do not prevent the determination of bill details, inscriptions and stamps that do not affect the content of the bill text;

e) in the absence of parts that do not affect the content of bill details.

Question code: 1.1.179

Income from operations with a bill of exchange, the issuance of which is based on loan relations, is recognized:

I. Promissory note amount under an interest-bearing bill;
II. Interest on a bill;
III. Promissory note amount on an interest-free bill;
IV. Discount amount.

Answers:

A. II, IV
B. I, II, IV
C. I, III
D. All of the above

Choose the correct judgments about securities and write down the numbers under which they are indicated.

1) Distinguish between registered and bearer securities.

2) A bill of exchange is a certificate of a cash deposit in a bank with the bank's obligation to return this deposit and interest on it after a specified period.

3) In accordance with the Civil Code of the Russian Federation, any document issued by the state is called a security.

4) A security that certifies ownership of a share in the capital of an enterprise and gives the right to receive part of the enterprise's profit is called a share.

5) The bond gives the owner the right to demand its redemption on time.

Explanation.

In Russian civil law, securities are classified according to the method of legitimation of the owner of the security (an authorized person) into bearer (bearer securities), registered, order (order). Under Russian law, securities include:

A share (lat. actio - order) is a security that indicates the right to a share of ownership in the company's capital and the receipt of income (dividend). Ordinary shares. Preferred shares may impose restrictions on participation in management, and may also give additional rights in management (not necessarily), but bring permanent (often fixed as a certain percentage of accounting net income or in absolute monetary terms) dividends.

A bill of exchange (from German Wechsel) is a strictly established form certifying an unconditional obligation of the drawer (a simple bill), or a proposal to another payer specified in the bill (a bill of exchange) to pay a certain amount of money upon the due date of the bill.

Bond (Latin obligatio - obligation; English bond - long-term, note - short-term) - issuance debt security, securing the right of its owner to receive from the issuer of the bond within the period stipulated in it its nominal value or other property equivalent. A bond may also provide for the right of its owner to receive a fixed percentage of the nominal value of the bond or other property rights. The yield on a bond is interest and/or discount.

A check (fr. chèque, eng. cheque) is a security containing an unconditional order of the drawer of the check to the bank to pay the amount indicated in it to the holder of the check. The drawer is a person who has cash in the bank, which he has the right to dispose of by issuing checks, the holder of the check - the person in whose favor the check is issued, the payer - the bank in which the funds of the drawer are located.

1) There are registered and bearer securities - yes, that's right.

2) A bill of exchange is a certificate of a cash deposit in a bank with the bank's obligation to return this deposit and interest on it after a specified period - no, that's not true.

3) In accordance with the Civil Code of the Russian Federation, any document issued by the state is called a security - no, it is not true.

4) A security that certifies ownership of a share in the capital of an enterprise and gives the right to receive part of the enterprise's profit is called a share - yes, that's right.

5) The bond gives the owner the right to demand its redemption on time - yes, that's right.

2 of the Federal Law of the Russian Federation "On the securities market").

The issue of shares is carried out by a joint-stock company.

A joint stock company is recognized commercial organization, the authorized capital of which is divided into a certain number of shares, certifying the obligations of the company's participants (shareholders) in relation to the company.

A joint-stock company has an authorized capital, which is the total nominal value of shares acquired by shareholders.

The amount of money denominated on the shares is called the par value of the shares. The price at which a share is sold (purchased) on the securities market is called the market value of the share. This price is different from the price indicated on the stock itself; it may be higher or lower than its face value.

In proportion to the number and par value of shares, the share due to the shareholders of the company in the event of its liquidation is calculated.

When a joint-stock company is established, its shares are placed among the founders. They can be individuals and legal entities that have decided to establish a joint-stock company.

State bodies and bodies local government cannot act as founders of a company, unless otherwise provided by federal laws. A joint stock company may be founded by one person, but it cannot have another as its sole founder. economical society, consisting of one person. If a joint-stock company is established by one founder, all shares of this company must be acquired by its sole founder.

The founders enter into a written agreement on the establishment of the company. The contract defines: joint activities founders for the establishment of the company; the rights and obligations of the founders to create a company; the size of the authorized capital of the company; categories and types of shares to be placed among the founders, as well as the amount and procedure for their payment.

When establishing a company, the shares must be fully paid up within the period specified by the charter of the company. However, at least 50% of the authorized capital must be paid up by the time of state registration of the company. The form of payment for shares during the establishment of a company is determined by the agreement on the creation of a joint-stock company or its charter.

In accordance with Art. 99 of the Civil Code of the Russian Federation, an open subscription for shares of a joint-stock company, that is, the placement of securities among a circle of persons unlimited in advance, is not allowed until the authorized capital is paid in full.

Thus, the founders of a joint-stock company, who have fully paid for the shares at the time of the establishment of the joint-stock company, place them by subscription, that is, on the basis of contracts, including purchase and sale, exchange, among a circle of persons unlimited in advance.

Payment for shares can be made not only in money and securities, but also in other things and property rights that have a monetary value. Payment for shares upon their acquisition by non-monetary means is carried out in full, unless otherwise provided by the agreement on the establishment of the company.

The Federal Law “On the Protection of the Rights and Legitimate Interests of Investors in the Securities Market” (1999) makes it possible to pay for an open issue of shares, provided for by non-monetary means, also with money at the discretion of the investor. Circulation and transactions with shares are prohibited until the full payment by the investor of their value at the time of placement and until the registration of the report on the results of the issue.

The company may increase the authorized capital by increasing the par value of shares or by placing additional shares. Additional shares may be placed by the company only within the limits of the number of declared shares established by the company's charter. The decision on the issue of increasing the authorized capital by placing additional shares may be within the competence of the general meeting of shareholders or within the competence of the board of directors. The General Meeting of Shareholders may decide to increase the authorized capital by placing additional shares simultaneously with the decision to increase the number of declared shares. The board of directors of a joint-stock company makes such a decision only if the company's charter provides for the presence of declared shares.

The decision to increase the authorized capital of the company by placing additional shares must contain information on the number of additional ordinary shares and each type of preferred shares to be placed within the number of authorized shares of this category (type), on the terms and conditions for their placement, including the placement price of additional shares companies for shareholders who have the pre-emptive right to acquire the placed shares.

Additional shares that are issued by the company and payable in cash must be paid for at the time of their acquisition in the amount of at least 25% of the nominal value.

A share may be issued both in a documentary (paper, tangible) form, and in a non-documentary form - in the form of appropriate entries on the accounts. With a documentary form of share issue, it is possible to replace a share with a certificate, which is evidence of the ownership of a certain number of shares by the person named in it. Upon full payment, the shareholder receives one certificate for the entire number of shares acquired by him. The Federal Law "On the Securities Market" provides that in the case of a documentary form of securities, the documents certifying the rights secured by a security are a certificate and a decision to issue securities. In addition, the current legislation provides for special details only for a share certificate. In our opinion, this is a gap in the current legislation, since the certificate is a derivative security and the legislator must first of all determine the details of the share.

A joint stock company may be open (JSC) or closed (CJSC), which is reflected in its charter and name.

Shareholders of an open company may transfer their shares into ownership of other persons without the consent of other shareholders of this company.

An open company has the right to conduct (along with an open subscription for shares issued by it) and a closed subscription

16 See: Securities: Textbook / Ed. IN AND. Kolesnikova, V.S. Torkanovsky. 2nd ed., revised. and additional M.: Finance and statistics, 2000. S. 78.

subscription, except for cases when the possibility of holding a closed subscription is limited by the charter of the company or the requirements of the legal acts of the Russian Federation. The decision on the placement of shares and securities convertible into shares through a closed subscription to them is taken by a qualified majority of the general meeting of shareholders. A joint-stock company is obliged to buy back their shares from opponents of a closed subscription, while a shareholder who does not agree with a closed subscription is not at all obliged to sell his shares.

The number of shareholders of an open company is not limited; the minimum authorized capital of such a company must be at least a thousand times the amount of the minimum wage established by federal law on the date of registration of the company. Consequently, the amount of the nominal value of all issued and sold shares must be no less than the amount specified in the law (Articles 25, 26 of the Federal Law "On Joint Stock Companies").

The shares of a closed joint stock company are distributed only among its founders (the number of shareholders must not exceed fifty) or among a predetermined circle of persons. If the number of shareholders of a CJSC exceeds 50 people, the company must be transformed into an OJSC within a year. Otherwise, the company is subject to liquidation in court.

Closed Joint-Stock Company, the minimum authorized capital of which is not less than one hundred times the amount of the minimum wage established by federal law on the date of state registration of the company, is not entitled to conduct an open subscription to the shares issued by it.

Only joint-stock companies can act as issuers of shares.

The issue of shares is carried out:

When corporatizing, that is, when establishing a joint-stock company and placing shares among its founders;

With an increase in the size of the initial authorized capital of a joint-stock company, that is, with subsequent issues of shares.

The state registration of an issue of shares cannot be made before the full payment of the authorized capital of the company (with the exception of the issue of shares placed among the founders during the establishment of the company) and before the registration of reports on the results of all previously registered issues of shares and amendments to the charter of the JSC.

Shares can be of various types.

Depending on the method of indicating the legal holder of securities, shares can be: registered and bearer.

According to the Federal Law "On Joint Stock Companies", all shares of the company are registered. The owner of the share must be entered in the register of the joint-stock company. The register of shareholders shall contain information about each shareholder, the number and categories (types) of shares owned by him, as well as the date of their acquisition.

An entry in the register of shareholders of the company is made at the request of the shareholder no later than three days from the date of submission of documents. It is not allowed to refuse to make an entry in the register of shareholders of the company, with the exception of cases provided for by the current legislation of the Russian Federation. Otherwise, the holder of the register, not later than five days from the date of the submission of the request for making an entry in the register, sends a notice of refusal to the person requiring this entry, indicating the reasons for the refusal.

The holder of the register of shareholders may be a company that is engaged in the issue (issuer) and placement of shares, or a specialized registrar. If the number of owners of ordinary shares in a joint-stock company exceeds 500 people, then such a company is obliged to entrust the maintenance and storage of the register to a specialized registrar and be responsible for its maintenance and storage.

The Federal Law “On Joint Stock Companies” does not provide for the issue of bearer shares, however, the Federal Law “On the Securities Market” allows the issue of bearer shares in a certain ratio to the amount of the issuer's authorized capital in accordance with the standard established by the Federal Commission for the Securities Market. Thus, there is a contradiction between the two laws. In our opinion, preference should be given to the Federal Law "On Joint-Stock Companies", since a share is a security issued specifically by joint-stock companies. The Federal Law “On the Securities Market” regulates general order issuance and placement of all issue-grade securities, while the Federal Law "On Joint-Stock Companies" is special law, taking into account the specifics of joint-stock companies and the securities they issue.

The Federal Law "On Joint Stock Companies" distinguishes two types of shares: placed and announced. Placed shares are considered to be shares already acquired by the shareholders. Their number and nominal value are determined by the charter of the company. These are actually sold shares, their sum at face value is the value of the authorized capital of the company.

Announced shares are shares that a joint-stock company may issue in addition to the placed shares. In this case, the authorized capital is increased by the amount of the nominal value of the placed additional shares within the framework of the additional shares announced after registration and approval of the results of the issue of additional shares.

Data on declared shares must be contained in the charter of the company indicating the number and par value of shares that the company has the right to place in addition to those initially placed, the rights granted by each category (type) of shares. They are included in the charter by the founders upon its approval during the establishment of the company or general meeting shareholders - by making necessary changes and additions to this document.

Decisions to increase the charter capital of the company by placing additional shares, as well as to place securities convertible into shares, can be made by both the general meeting of shareholders and the board of directors, when it falls within its competence, only within the framework defined in the charter in relation to declared shares (Article 27 of the Law).

The number of securities placed by the company, convertible into shares of a certain category, during the circulation period must exceed the number of authorized shares, correspond to the category, or at least be equal to it (clause 2, article 27 of the Federal Law "On Joint Stock Companies").

As G.S. Shapkin, “the term “declared shares” is to a certain extent conditional, until the actual placement of additionally issued shares, they do not exist as securities.

The introduction of this concept and the establishment of the procedure for the "declaration" of shares is aimed at ensuring certain control over the activities of management bodies for the additional placement of shares and other securities (for example, bonds) convertible into shares15.

Depending on the volume of rights granted by a share to its owners, shares are divided into ordinary and preferred shares.

Each ordinary share of the company provides the shareholder - its owner with the same amount of rights:

Participate in the general meeting of shareholders with the right to vote on all issues within its competence;

The right to receive dividends;

In the event of liquidation of the company, the right to receive part of the property (Article 31 of the Federal Law "On Joint Stock Companies").

This list of rights granted to shareholders by an ordinary share is not exhaustive.

To exercise the relevant rights, the owner of an ordinary share must be included in the list of shareholders compiled on the basis of the company's register data on the date set depending on the instructions contained in the charter.

According to the legislation of the Russian Federation, this date cannot be set earlier than the date of the decision to hold the general meeting of shareholders and more than 60 days before the date of the meeting.

A shareholder of the company owning at least 2% of voting shares has the right, no later than 30 days after the end of the financial year of the company (unless a later date is established by the company's charter), to make no more than two proposals to the agenda of the annual meeting of shareholders, as well as to nominate candidates for board of directors and audit commission society within the quantitative composition of this body.

Voting at the general meeting of shareholders is carried out according to the principle "one voting share of the company is equal to one vote", except for cases of cumulative voting for the election of members of the company's board of directors.

In cumulative voting, each voting share must have a number of votes equal to the total number of members of the board of directors. The shareholder has the right in this case to give all the votes on the shares he owns for one candidate, but he can also distribute them among several candidates running for the board of directors. A share does not grant voting rights until it has been paid in full. The exception is shares acquired by the founders during the creation of the company.

Another right of the owners of ordinary shares is the right to receive dividends. Shareholders receive dividends as long as the company that issued the shares is operating successfully.

Dividends on shares are paid out of the company's net profit for the current year. The decision on the payment of annual dividends, their amount and form of payment is made by the general meeting of shareholders on the recommendation of the board of directors. At the same time, the amount of the dividend cannot exceed the amount recommended by the board of directors, however, the amount of the dividend proposed by it may be reduced by the general meeting. The list of persons to receive annual dividends must include shareholders (nominal shareholders) entered in the register of shareholders of the company on the date of compiling the list of persons entitled to participate in the annual meeting of shareholders.

The decision to pay quarterly and semi-annual dividends on shares is made by the board of directors of the company. Shareholders (nominal shareholders) included in the register of shareholders of the company no later than 10 days before the date of the decision to pay dividends have the right to receive interim dividends.

A joint-stock company is not entitled to make a decision on the payment (announcement) of dividends on shares in the following cases:

until full payment of the authorized capital of the company;

before the redemption of shares owned by shareholders, which must be redeemed by the company;

if, as a result of the payment of dividends, the company may appear signs of insolvency (bankruptcy), as well as if at the time of payment of dividends the company already has the indicated signs;

if cost net assets of the company is less than its authorized capital and reserve fund (or will become less than their size as a result of the payment of dividends).

A joint stock company also has no right to make a decision on the payment (announcement) of dividends on ordinary and preferred shares, the amount of the dividend on which is not determined, unless a decision is made to pay the dividends established by the charter of the JSC on all types of preferred shares in full.

Dividends on shares are usually paid in cash. However, the charter of the company may also provide for the payment of dividends, either by transferring ownership of additional shares and bonds to the shareholder, or by distributing income in property form(As a rule, the company pays such dividends in the event of its liquidation).

In world practice, there is a type of ordinary shares that are equated to preferred ones for the payment of dividends: the owner of such a share receives a fixed dividend, pre-established in accordance with the terms of the issue, and an additional dividend (extra- dividend)16. This type of shares is not known to Russian legislation.

The owners of ordinary shares have the right to receive part of the property in the event of liquidation of the company.

The liquidation commission reveals obligations to creditors, and after completion of settlements with them, the property of the liquidated company is distributed among shareholders. At the same time, the owners of ordinary shares receive their share in the property of the liquidated company only after satisfaction of all other legal claims. After settlements with all creditors, at the request of the shareholders, the shares of the company are redeemed.

A joint-stock company is obliged to inform its shareholders about their right to demand the redemption by the company of their shares. This right arises for those shareholders who either did not take part in the general meeting of shareholders, at which the following issues were considered, or voted against the decisions made on them:

on the reorganization of the joint-stock company;

about the conclusion big deal associated with the acquisition or alienation of the company's property worth more than 50% of the book value of the company's assets as of the date of such a decision;

on increasing the authorized capital of the company without granting shareholders the right to purchase the issued shares in the first place.

In order for a shareholder to be able to exercise his right to demand the redemption of his shares, the joint-stock company is obliged to inform him of the existence of such a right, the price and procedure for the redemption. This message is sent to shareholders executive body joint-stock company, after the board of directors determines the date of the general meeting with an agenda containing issues, the adoption of decisions on which may give rise to the shareholders' right to demand the repurchase of shares.

The demand for the repurchase of shares is declared by the shareholder in writing within 45 days after the adoption of such decisions by the general meeting. The request specifies the place of residence (location) of the shareholder and the number of shares that he demands to be redeemed. Within 30 days after the expiration of the period established for submitting requests for the repurchase of shares, the company is obliged to repurchase the shares from the shareholders.

The redemption of shares is carried out at the price indicated in the notice of the general meeting, where the decision on the redemption of shares is made.

The company allocates funds for the redemption of shares in the amount of 10% of the net asset value as of the date of the decision, which resulted in the shareholders' right to demand the redemption of shares. If the number of applications for the redemption of shares exceeds the number that the company can redeem, taking into account the specified limitation, the shares are redeemed in proportion to the declared requirements.

Shares redeemed by the company in the event of its reorganization are subject to mandatory redemption upon their redemption.

Shares redeemed by the company in other cases, except for those considered, may be sold to new owners no later than one year from the date of their redemption. The shares redeemed by the company are placed at its disposal and are on the balance sheet of the joint-stock company. But they are non-voting and, therefore, are not taken into account when counting votes in determining the quorum of the general meeting, do not provide other rights related to convening and holding a general meeting. These shares do not pay dividends.

Shares must be sold within a year from the date of their redemption. Otherwise, the general meeting must take one of the following decisions:

Reduce the authorized capital of the company by redeeming the repurchased shares. At the same time, it is necessary to ensure that the authorized capital does not turn out to be less than the minimum amount established by the Federal Law “On Joint Stock Companies”. Otherwise, the company will be subject to liquidation;

Redeem the repurchased shares without reducing the size of the authorized capital of the company, but at the same time increase the nominal value of the shares remaining in circulation. The decision to redeem shares, as a rule, is accompanied by a simultaneous decision of the general meeting to increase the par value of outstanding shares.

After the redemption of shares at the request of shareholders, the company pays accrued but unpaid dividends on preferred shares, as well as the value of these shares based on the value of the property per share at the time of liquidation of the company (liquidation value). Then the property of the liquidated company is distributed among the owners of ordinary shares.

Preferred shares can be of several types with different denominations and different amounts of rights granted to their holders, but preferred shares of the same type must have the same nominal value and provide their owners with the same amount of rights (clause 1, article 32 of the Federal Law "On Joint Stock Companies") .

The law limits the total number of preference shares (and their total par value) that can be issued by a company to twenty-five percent of the company's charter capital.

The law allows for the conversion of certain types of preferred shares into ordinary shares. Such conversion must be provided for in the articles of association, and the articles of association in such a case may provide for the existence of voting rights on preferred shares.

By general rule shareholders - owners of preferred shares of the company do not have the right to vote at the general meeting of shareholders.

Preferred shares give owners the right to receive a fixed dividend and the value of the shares upon liquidation of the company.

The amount of the dividend and the value of the share at which it will be redeemed upon liquidation of the company (liquidation value) must be determined in the charter of the JSC. The amount of the dividend and the liquidation value are determined in the firm sum of money or the charter may establish the procedure for their determination. The articles of association must also establish the order of payment of dividends and liquidation value for each type of preferred shares.

The owner of a preference share has the right to participate in the general meeting of shareholders with a voting right on the following issues:

Reorganization and liquidation of the company;

Introducing amendments and additions to the charter of the company, limiting or changing the rights of shareholders - owners of preferred shares.

The Law on Joint Stock Companies provides for the issue of one or more types of preferred shares. The law distinguishes two types of preferred shares: cumulative and convertible.

Cumulative shares are considered to be those shares on which the unpaid or not fully paid dividend, the amount of which is determined in the charter, is accumulated and paid out subsequently. For example, if during the issue of preferred shares it was established that the dividend on them is paid in the amount of 14% of the nominal value, and by decision of the general meeting of shareholders it is not paid in the current year, then in the next calendar period the dividend on the cumulative preferred share will be 28%. The issuance of such shares can attract investors with the opportunity to increase their income. Buying such a share has the opportunity to receive dividends for the entire period during which they were not paid.

In addition, the owner of a cumulative preferred share receives the right to vote for the period during which he does not receive a dividend, and loses this right from the moment of payment of all dividends accumulated on the specified share in full.

However, shareholders may exercise this right starting from the meeting following the annual general meeting, at which a decision should have been made to pay the accumulated dividends on the specified shares in full, but the decision was not made or a decision was made to pay incomplete dividends.

When issuing cumulative preferred shares, the issuer is obliged to set a period for accumulating dividends. This is the period during which dividends on this type of shares may not be paid, accumulating for a subsequent payment. During this period, the owner of such a share does not acquire voting rights.

Non-cumulative preferred shares do not allow the accumulation of unpaid dividends. The owners of these shares lose dividends without any compensation if the joint-stock company has not announced their payment.

Convertible preference shares may be exchanged for ordinary shares or preference shares of other types of this company on the terms and conditions specified in the company's charter. Conditions are developed during the preparation of the issue of these shares.

The charter of the company may provide for the right to vote on shares if preference shares are converted into ordinary shares. The owner of such a preferred share has a number of votes not exceeding the number of votes for ordinary shares into which the preferred share owned by him can be converted.

Non-convertible preference shares may not be exchanged for ordinary shares or other types of preference shares.