Why am I taking the investor experience test?

The investor experience test is primarily intended to assess whether you, as an investor, understand what you are doing and whether your investment aligns with your financial situation and level of knowledge. It is indeed more of a formality and a legal requirement designed to protect you from taking irresponsible risks.
In particular, inexperienced investors are made extra aware of the risks and are given a 4-day reflection period. Once the test is completed and the reflection period has passed, you will receive a message confirming that the transaction has been successfully completed. During the reflection period, the shares and the investment are held in escrow.