Hm, depends on a country perhaps. I did the test twice in Poland, and yes - there were questions about experience, but also questions from knowledge. My guess is that if you fail answering questions about the experience you will get access to fewer instruments, and with time you can get access to more.
The test could be definitely done better though, perhaps closer to the new tests for basic drone piloting.
For basic drone piloting, in Poland at least, you have to take an online course, and then take a test with I think 40 knowledge questions selected randomly from a pool of 90 or so.
You have 90 sec to answer each question, so if you're a good Googler, you can cheat, but really after taking the online course you don't need to.
Took me 2-3h to get my basic permissions to fly a drone.
Advanced permissions require a weekend in-person training and a more complicated exam. Still pretty accessible.
I think we could have the same thing with investor qualification - a good test, and also a single "license", instead of each bank implementing their own testing scheme to answer 10 basic questions.
The test could be definitely done better though, perhaps closer to the new tests for basic drone piloting.
For basic drone piloting, in Poland at least, you have to take an online course, and then take a test with I think 40 knowledge questions selected randomly from a pool of 90 or so.
You have 90 sec to answer each question, so if you're a good Googler, you can cheat, but really after taking the online course you don't need to.
Took me 2-3h to get my basic permissions to fly a drone. Advanced permissions require a weekend in-person training and a more complicated exam. Still pretty accessible.
I think we could have the same thing with investor qualification - a good test, and also a single "license", instead of each bank implementing their own testing scheme to answer 10 basic questions.