NOT a requirement to register as a trader?

• A. Must be of good repute
• B. Must possess sufficient specialist knowledge
• C. Must demonstrate specialist knowledge by passing the exam
• D. Must be a licensed trader by a foreign authority

Answer: (D)

Registration as a trader centers on ensuring you have the integrity and competence to operate in the market. Regulators typically require you to be of good repute and to possess sufficient specialist knowledge, and they often require you to demonstrate that knowledge—sometimes by passing an exam. These criteria are about local trust and ability to follow the rules, which protects clients and the market.

Being licensed by a foreign authority is not a blanket prerequisite to register locally. A foreign license isn’t automatically considered satisfying local registration standards; it may be relevant for recognition in some cross-border contexts, but it does not itself fulfill the local requirements to register.