Practice

Topics you can practise

1572 questions across 48 modules so far. More topics are added as their lessons are written.

• Money, risk and return40 questions covering saving, investing and inflation, risk, return, liquidity and time horizon, percentages, percentage change and percentage points, compounding and cagr, nominal and real returns.
• Shares and why they exist44 questions covering what is the stock market?, why companies issue shares, what is a share?, dividends, capital gains and losses, dividends, splits, bonus shares and other corporate actions.
• Exchanges, regulators and your accounts40 questions covering how stock exchanges work, sebi, brokers and demat accounts, primary and secondary markets, ipo basics, nifty 50 and sensex.
• How buying and selling works54 questions covering investing compared with trading, market orders and limit orders, stop-loss and stop-limit orders, bid, ask, spread and liquidity, trading costs and taxes on shares, market capitalisation, reading a stock quote.
• Ups, downs and risk39 questions covering bull markets, bear markets, corrections and crashes, circuit breakers and price bands, the risks of investing in shares.
• Probability and statistics for investors32 questions covering probability and expected value, averages, spread and volatility, correlation and causation, misleading numbers and charts.
• Profit, cash and what a business owns33 questions covering revenue, expenses and profit, profit compared with cash flow, assets, liabilities and equity.
• How accounting records a business36 questions covering accrual accounting and cash accounting, depreciation, amortisation and capital expenditure, working capital, inventory and receivables, provisions, contingent liabilities and impairments.
• The three financial statements36 questions covering the income statement, the balance sheet, the cash flow statement, how the three statements connect.
• Profit levels, margins and earnings per share33 questions covering operating profit, ebitda and net profit, profit margins and what they reveal, earnings per share.
• Reading a real annual report34 questions covering how an indian annual report is organised, notes to the financial statements, the auditor's report, management discussion and analysis, indian accounting standards (ind as).
• Understanding the business32 questions covering understanding a company's business model, industry analysis and competitive positioning, competitive advantages and their limits, cyclical and capital-intensive businesses, operating leverage.
• Growth and quality of earnings30 questions covering revenue and earnings growth, quality of earnings, share dilution and employee stock options.
• Returns on capital30 questions covering return on equity (roe), return on capital employed (roce), return on assets, returns on incremental capital.
• Debt, cash and financial strength30 questions covering debt-to-equity and net debt, interest coverage, free cash flow and cash conversion, working capital efficiency, dividend payout and coverage.
• Valuation ratios33 questions covering the p/e ratio, the p/b ratio, the peg ratio, enterprise value, ev/ebitda, earnings, dividend and free cash flow yields, comparing valuations with history and peers, why sectors are valued differently, when valuation ratios mislead.
• Intrinsic value and discounted cash flow34 questions covering what intrinsic value means, present value and discounting, discount rates and the cost of equity, weighted average cost of capital (wacc), discounted cash flow valuation, terminal value, sensitivity and scenario analysis, reverse dcf, comparable-company valuation, margin of safety.
• Governance, capital allocation and red flags33 questions covering management quality and corporate governance, capital allocation, related-party transactions, promoter pledging, minority shareholders, holding companies and conglomerates, financial red flags, accounting manipulation and fraud indicators.
• Analysing different kinds of business31 questions covering analysing banks and lenders, analysing insurance companies, asset-light businesses, commodity businesses, real estate and infrastructure companies.
• Reading price charts30 questions covering understanding price charts, open, high, low and close, candlesticks and chart timeframes, trading volume and liquidity on charts, adjusted and unadjusted prices.
• Trends, support and resistance30 questions covering trends and market structure, support and resistance, trendlines and channels, breakouts, pullbacks and retests, price gaps, false breakouts and misleading signals.
• Indicators32 questions covering moving averages, volume-weighted average price (vwap), the relative strength index (rsi), macd, bollinger bands, average true range (atr), the stochastic oscillator, on-balance volume.
• Chart patterns and candlestick formations30 questions covering candlestick formations, reversal patterns, continuation patterns, volume confirmation and its limits.
• A trading process and risk control30 questions covering building a repeatable chart-analysis process, entry and exit planning, placing stop-losses, risk/reward and position size per trade, expectancy, losing streaks and risk of ruin.
• Backtesting and the limits of technical analysis30 questions covering backtesting, survivorship, look-ahead and other backtesting biases, overfitting, sample size and out-of-sample testing, the limitations of technical analysis.
• Goals, time horizons and speculation30 questions covering investing compared with speculation, investment goals and time horizons, risk tolerance and risk capacity.
• Building a portfolio31 questions covering diversification, equity and fixed income, asset allocation, beta and market risk, position sizing and concentration.
• Mutual funds, index funds, ETFs, REITs and InvITs31 questions covering mutual fund fundamentals, index funds and etfs, expense ratios and tracking error, active and passive funds, reits and invits.
• Running a portfolio over time35 questions covering volatility and maximum drawdown, sequence of returns, portfolio rebalancing, benchmarks and measuring performance, writing an investment policy statement, tax on shares, funds and other investments.
• Behaviour, biases and decisions34 questions covering loss aversion, confirmation bias and overconfidence, herd behaviour and recency bias, emotional decision-making, good decisions and good outcomes, investment mistakes and lessons from history.
• Inflation, interest rates and the RBI30 questions covering measuring inflation in india, interest rates, rbi monetary policy.
• Growth, cycles and government31 questions covering gdp and economic growth, employment and consumption, fiscal policy and government borrowing, economic cycles and recessions.
• Bonds, currencies, flows and commodities31 questions covering bonds and bond yields, the yield curve, currency movements and the rupee, foreign investment flows, crude oil and commodity prices.
• Industries, earnings and the news31 questions covering how economic conditions affect industries, expectations and surprises, corporate earnings seasons, reading market and economic news critically.
• A research process30 questions covering how to research a company from scratch, products, customers and revenue drivers, building a research checklist.
• Analysis in practice32 questions covering analysing financial statements in practice, comparing companies in the same sector, judging competitive advantages in practice, evaluating management and governance in practice, reading exchange filings, identifying red flags in practice, evaluating an ipo.
• Valuation and uncertainty in practice30 questions covering choosing a valuation method, building scenarios from assumptions, comparing competing explanations.
• From research to a written thesis31 questions covering writing an investment thesis and research report, what would prove you wrong, monitoring an investment thesis, reviewing mistakes and updating conclusions, combining fundamental and technical analysis.
• Case studies from history30 questions covering case study: an accounting fraud (satyam, 2009), case study: a lender in crisis (yes bank, 2018-2020), case study: a valuation bubble (technology shares, 1999-2002), case study: a debt-funded group in crisis (il&fs, 2018), case study: how a durable business compounds (a hypothetical consumer company).
• Futures and options basics31 questions covering what derivatives are, forwards and futures, futures margin and mark-to-market, call and put options, strike prices, premiums and expiry, moneyness, intrinsic value and time value, option payoff diagrams and breakevens.
• Leverage, short selling and risk30 questions covering leverage and margin, short selling, liquidity and slippage in derivatives, the risks of buying and selling options, expiry, gap and settlement risks.
• Volatility and options Greeks30 questions covering historical and implied volatility, options greeks: delta and gamma, theta, time decay and vega.
• Hedging, arbitrage and basis30 questions covering hedging with derivatives, basis, cost of carry and convergence, arbitrage basics.
• Market microstructure and quantitative methods30 questions covering market microstructure, algorithmic trading, quantitative analysis.
• Recognising scams and protecting yourself32 questions covering how to spot a stock market scam, pump-and-dump schemes, stock tip groups on telegram and whatsapp, how to verify a claim and report a fraud.
• Misleading claims and conflicts of interest33 questions covering fake testimonials, screenshots and misleading advertisements, misleading backtests and cherry-picked results, undisclosed conflicts of interest, unregistered and unauthorised intermediaries, impersonation, phishing and account security.
• Myths, manipulation and advice32 questions covering market manipulation, common stock market myths, education, research and investment advice, using sebi's investor resources.
• Complaints, grievances and recovery31 questions covering investor complaints and dispute resolution, what to do after a suspected fraud.