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SOFQ Real Exam Question Answers Updated [Nov 07, 2021]
ICMA SOFQ Exam Syllabus Topics:
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NEW QUESTION 17
Grey market trading refers to:
- A. Trading of equity and bonds by investors aged 65 and over at the start of the tax year
- B. Trading in convertible and exchangeable bonds prior to their conversion
- C. Trading in a new issue of bonds by parties not involved in the syndication process
- D. Trading in corporate bonds following the bondholder's decision to take-up a put option
Answer: C
NEW QUESTION 18
The date on which a securities trade is intended to settle is:
- A. The contractual trade date
- B. The value date
- C. The actual settlement date
- D. The trade date
Answer: B
NEW QUESTION 19
The ISO currency code 'CHF represents:
- A. Swiss France
- B. Norwegian Krone
- C. Chinese Renminbi
- D. Ivory Coast Franc
Answer: A
NEW QUESTION 20
The divisors applicable to the calculation of bank interest are:
- A. EUR = 365, USD = 360, GBP = 365
- B. EUR = 365, USD = 365, GBP = 360
- C. EUR = 360, USD = 360, GBP = 365
- D. EUR = 360, USD = 365, GBP = 360
Answer: C
NEW QUESTION 21
A bond whose coupon rate increases at pre-specified dates and at a pre-specified interest rate is known as:
- A. A mortgage-backed security
- B. A floating rate note
- C. A step-up bond
- D. A convertible bond
Answer: C
NEW QUESTION 22
The number of days of accrued interest, and the cash value of accrued interest - on a trade of GBP 30,500,000 Barclays Bank GBP Floating Rate Notes November 2028, paying interest quarterly - the current coupon rate is
3.7162% for the period 21s' November to November 21s' February, trade date 3rd February, value date 5th February, is:
- A. 45 days and GBP 139,739.30
- B. 107 days and GBP 336,883.85
- C. 76 days and GBP 236,004.15
- D. 45 days and GBP 141,680.12
Answer: C
NEW QUESTION 23
'ISO' stands for:
- A. International Organisation for Standardisation
- B. Intraterritorial Organisation of Securities
- C. Invention of Standards for Organisations
- D. Intercontinental Symposium of Organisations
Answer: A
NEW QUESTION 24
The market in which debt is issued over the long-term describes:
- A. The money market
- B. The foreign exchange market
- C. The capital market
- D. The equity market
Answer: C
NEW QUESTION 25
The two choices for the settlement method utilised within a securities market are:
- A. Tumbling Settlement' and 'Continuing Settlement'
- B. 'Rolling Settlement' and 'Account Settlement'
- C. 'Continuing Settlement'and'Account Settlement'
- D. 'Account Settlement1 and Tumbling Settlement'
Answer: B
NEW QUESTION 26
The type of organisation that provides securities underwriting services is known as a
- A. Insurance company
- B. Pension fund
- C. Investment bank
- D. Commercial bank
Answer: C
NEW QUESTION 27
Thefollowing is an inaccurate statement:
- A. Warrants will expire if not exercised by the expiry date
- B. Warrants are exercisable by the warrant holder
- C. Warrants have a variable exercise price
- D. Warrants are detachable from the original security
Answer: C
NEW QUESTION 28
Within internal books and records, the recording of the trading book on a securities trade facilitates:
- A. Reconciliation of settled positions, per trading book and per security - between the trading department and operations
- B. Reconciliation of settled positions, per trading book and per security - between operations and the firm's custodian
- C. Reconciliation of trading positions, per trading book and per security - between the firm's counterparty and the firm's custodian
- D. Reconciliation of trading positions, per trading book and per security - between the trading department and operations
Answer: D
NEW QUESTION 29
DTC - the central securities depository for US equities is the abbreviation for:
- A. Depot Transaction
- B. Depository Trust Company
- C. Deposit and Trade Conglomerate
- D. Depot for Trades Corporation
Answer: B
NEW QUESTION 30
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 a security's issue date and the value date of a trade
- C. Between a trade's trade date and the actual settlement date of a trade
- D. Between the trade date of a trade and the issue date of a security
Answer: A
NEW QUESTION 31
FTM Levy is charged:
- A. On UK equity trades where the gross consideration is in excess of GBP 10,000.00
- B. On US equity trades where the gross consideration is USD 10,000.00 and below
- C. On UK equity trades where the gross consideration is GBP 10,000.00 and above
- D. On US equity trades -where the gross consideration is in excess of USD 10,000.00
Answer: A
NEW QUESTION 32
The International Monetary Fund is an example of:
- A. A sovereign wealth fund
- B. An investment bank
- C. A securities market regulator
- D. A supranational organisation
Answer: D
NEW QUESTION 33
A S.W.I.FT. MT541 instructs a custodian to:
- A. Deliver securities on a Free of Payment basis
- B. Receive securities on a Free of Payment basis
- C. Receive securities on a Delivery versus Payment basis
- D. Deliver securities on a Delivery versus Payment basis
Answer: C
NEW QUESTION 34
Where the term 'Ordinary Shares' is used in the UK, the equivalent term in the US is:
- A. Normal Shares
- B. Corporate Shares
- C. Ordinary Stock
- D. Common stock
Answer: D
NEW QUESTION 35
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