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According to the Official Syllabus of Actual ICMA SOFQ Exam

ICMA SOFQ Exam

Securities Operations Foundation Qualification (SOFQ)

Total Questions: 50

Last Updated : 16-10-2022

Based on Official Syllabus Topics of Actual ICMA SOFQ Exam

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ICMA SOFQ Exam Questions

Question 1

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

AThe total ownership position is equal to the sum of open and closed trades with counterparties

BThe total settled position is equal to the sum of open trades and trades with a future value date

CThe total ownership position is equal to the sum of the settled positions plus/minus open trades with counterparties

DThe total settled position is equal to the sum of open and closed trades with counterparties

Answer : C

Question 2

Where Firm A has borrowed a fixed cash amount on a secured basis from Firm B, an increase in the collateral value means that:

AFirm A has exposure and must return some collateral to Firm B

BFirmB has exposure and must request additional collateral from Firm A

CFirm B has exposure and must request the return of collateral from Firm A

DFirm A has exposure and must request the return of some collateral from Firm B

Answer : D

Question 3

Bond types that are traded at a deeply discounted price are:

AFloating rate notes

BZero coupon bonds

CConvertible bonds and Exchangeable bonds

DFixed rate bonds

Answer : B

Question 4

From the perspective of one party to a securities trade, Free of Payment settlement without risk means:

ADelivering an asset to the counterparty prior to receipt of the contra asset from the counterparty

BSimultaneously exchanging securities and cash with the counterparty

CDelivering an asset to the counterparty following successful exchange of trade confirmations

DReceiving the counterparty's asset before instructing release of the contra asset

Answer : D

Question 5

The type of organisation that specializes in deposit-taking and cash loans is known as a:

AMutual fund

BCommercial bank

CInvestment bank

DPrivate bank

Answer : B

Question 6

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

AThe total ownership position is equal to the sum of open and closed trades with counterparties

BThe total settled position is equal to the sum of open trades and trades with a future value date

CThe total ownership position is equal to the sum of the settled positions plus/minus open trades with counterparties

DThe total settled position is equal to the sum of open and closed trades with counterparties

Answer : C

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SOFQ Exam Syllabus

ICMA SOFQ Exam Syllabus