ICMA SOFQ Exam Practice Test Instant Access

Question 1

On a scale of 1,500,000 Microsoft Corporation shares at a price of USD 3.78 per share, the SEC Fee payable is::

AUSD 1.89

BUSD 18.90

CUSD 189.00

DUSD 1890.00

Answer : C

Question 2

The two choices for the settlement method utilised within a securities market are:

A'Account Settlement1 and Tumbling Settlement'

BTumbling Settlement' and 'Continuing Settlement'

C'Continuing Settlement'and'Account Settlement'

D'Rolling Settlement' and 'Account Settlement'

Answer : D

Question 3

The International Monetary Fund is an example of:

AA supranational organisation

BA sovereign wealth fund

CAn investment bank

DA securities market regulator

Answer : A

Question 4

FTM Levy is charged:

AOn US equity trades -where the gross consideration is in excess of USD 10,000.00

BOn UK equity trades where the gross consideration is GBP 10,000.00 and above

COn US equity trades where the gross consideration is USD 10,000.00 and below

DOn UK equity trades where the gross consideration is in excess of GBP 10,000.00

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

'ISO' stands for:

AInvention of Standards for Organisations

BIntercontinental Symposium of Organisations

CInternational Organisation for Standardisation

DIntraterritorial Organisation of Securities

Answer : C

Question 7

A cash amount of GBP 5,909,658.47 lent on a Thursday until the second Monday (just over 1 week later) at a rate of 2.973%, would attract:

A7 days of interest and a cash interest amount of GBP 3369.48

B9 days of interest and a cash interest amount of GBP 4392.35

C13 days of interest and a cash interest amount of GBP 6344.51

D11 days of interest and a cash interest amount of GBP 5294.89

Answer : D

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