SOFQ Exam Training Practice Tests (ICMA Securities Operations Foundation Qualification (SOFQ))]

Question 1

The number of days of accrued interest, and the cash value of accrued interest - on a trade of USD 45,000,000 World Bank 4.37% Bonds 1st December 2032, paying interest semi-annually on 1st December and Ist June, trade date 22~d October, value date 25tl October, is:

A. 144 days and USD 786,600.00 B. 141 days and USD 770,212.50 C. 171 days and USD 934,087-50 D. 174 days and USD 950,475.00

Correct Answer: A

Question 2

The International Monetary Fund is an example of:

A. An investment bank B. A supranational organisation C. A securities market regulator D. A sovereign wealth fund

Correct Answer: B

Question 3

The integrity of internal books & records for securities is proven by ensuring:

A. The total settled position is equal to the sum of open trades and trades with a future value date B. The total ownership position is equal to the sum of open and closed trades with counterparties C. The total ownership position is equal to the sum of the settled positions plus/minus open trades with counterparties D. The total settled position is equal to the sum of open and closed trades with counterparties

Correct Answer: C

Question 4

A firm executing a securities trade in the capacity of agency broker intends:

A. To take a securities position, and not to remain market risk neutral B. Not to take a securities position, and not to remain market risk neutra C. To take a securities position, and to remain market risk neutral D. Not to take a securities position, and to remain market risk neutral

Correct Answer: C

Question 5

The 'settlement cycle' within a securities market refers to the number of days:

A. Between a trade's trade date and its value date B. Between the trade date of a trade and the issue date of a security C. Between a security's issue date and the value date of a trade D. Between a trade's trade date and the actual settlement date of a trade

Correct Answer: A

ICMA Securities Operations Foundation Qualification (SOFQ) - SOFQ Exam Practice Test