Leveraged Foreign Exchange Trading Examination The Leveraged Foreign Exchange Trader's Representative Examination and the Leveraged Foreign Exchange Trader's Responsible Officer Examination conducted by the PEAK - Institute of Professional Education and Knowledge of the Vocational Training Council (VTC) have been approved by the Academic and Accreditation Advisory Committee (AAAC) of the Securities and Futures Commission (SFC) as recognized industry qualifications for Leveraged Foreign Exchange Trader Representatives and Leveraged Foreign Exchange Trader Representatives acting as responsible officers respectively. Examination Structure and Format The Leveraged Foreign Exchange Trader's Representative Examination consists of 2 papers: Paper 1: Leveraged Foreign Exchange Trading Rules and Regulation: Tests the basic knowledge of ordinance, subsidiary legislations, rules, codes of conduct and guidance notes related to leveraged foreign exchange trading. Paper 2: Foreign Exchange Market Operations and Analysis: Tests the basic knowledge about the development, operations and practices of the foreign exchange market, market analysis and risk involved in leveraged foreign exchange trading. The Leveraged Foreign Exchange Trader's Responsible Officer Examination consists of 2 papers: Paper 1: Leveraged Foreign Exchange Trading Regulation and Supervision: Tests the in-depth knowledge of relevant ordinance, subsidiary legislations, rules, codes of conduct and guidance notes with special emphasis on issues related to the duties and responsibilities of a responsible officer of leveraged foreign exchange trader. Paper 2: Financial Markets Operations and Risk Management: Tests the in-depth knowledge of the foreign exchange market operations, related markets such as money, fixed income and derivatives markets, as well as the risk management process. For full details of the examination, please refer to the Leveraged Foreign Exchange Trading Examination Handbook, Instructions to LFXT Applicants, or download LFXT Enrollment Form.