ICMA SOFQ Exam Practice Test Instant Access

Question 1

'ISO' stands for:

AInvention of Standards for Organisations

BIntercontinental Symposium of Organisations

CInternational Organisation for Standardisation

DIntraterritorial Organisation of Securities

Answer : C

Question 2

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 3

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 4

The following are examples of money market instruments:

AZero coupon bonds and Floating-rate notes

BConvertible bonds and Mortgage-Backed Securities

CFixed-rate bonds and Step-up bonds

DCommercial Paper and Certificate of Deposit

Answer : D

Question 5

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

Question 6

Within internal books and records, the recording of the trading book on a securities trade facilitates:

AReconciliation of settled positions, per trading book and per security - between the trading department and operations

BReconciliation of settled positions, per trading book and per security - between operations and the firm's custodian

CReconciliation of trading positions, per trading book and per security - between the firm's counterparty and the firm's custodian

DReconciliation of trading positions, per trading book and per security - between the trading department and operations

Answer : D

Question 7

The International Monetary Fund is an example of:

AA supranational organisation

BA sovereign wealth fund

CAn investment bank

DA securities market regulator

Answer : A

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