SOFQ Dumps 2021 - New ICMA SOFQ Exam Questions
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ICMA SOFQ Exam Syllabus Topics:
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NEW QUESTION 15
The type of organisation that provides securities underwriting services is known as a
- A. Pension fund
- B. Investment bank
- C. Commercial bank
- D. Insurance company
Answer: B
NEW QUESTION 16
'ISO' stands for:
- A. Intraterritorial Organisation of Securities
- B. Intercontinental Symposium of Organisations
- C. International Organisation for Standardisation
- D. Invention of Standards for Organisations
Answer: C
NEW QUESTION 17
The ISIN stands for:
- A. International Secondary ID Notation; a 13-character alpha-numeric code
- B. International Securities Identification Number; a 13-character alpha-numeric code
- C. International Secondary ID Notation; a 12-character alpha-numeric code
- D. International Securities Identification Number; a 12-character alpha-numeric code
Answer: D
NEW QUESTION 18
'Sub-custodian' is a term that is applicable to:
- A. National central securities depositories
- B. Global custodians
- C. Local custodians
- D. International central securities depositories
Answer: B
NEW QUESTION 19
Within the security entitled 'Exxon Mobil Corporation USD 1.00 Common Stock', the 'USD 1.00' is commonly known as the:
- A. par value
- B. issue value
- C. share size
- D. notional quantity
Answer: A
NEW QUESTION 20
Thefollowing is an inaccurate statement:
- A. Warrants will expire if not exercised by the expiry date
- B. Warrants have a variable exercise price
- C. Warrants are detachable from the original security
- D. Warrants are exercisable by the warrant holder
Answer: B
NEW QUESTION 21
A firm executing a securities trade in the capacity of agency broker intends:
- A. To take a securities position, and to remain market risk neutral
- B. Not to take a securities position, and to remain market risk neutral
- C. Not to take a securities position, and not to remain market risk neutra
- D. To take a securities position, and not to remain market risk neutral
Answer: A
NEW QUESTION 22
Where Firm A has borrowed a fixed cash amount on a secured basis from Firm B, an increase in the collateral value means that:
- A. Firm A has exposure and must request the return of some collateral from Firm B
- B. Firm B has exposure and must request the return of collateral from Firm A
- C. Firm A has exposure and must return some collateral to Firm B
- D. FirmB has exposure and must request additional collateral from Firm A
Answer: A
NEW QUESTION 23
A S.W.I.FT. MT541 instructs a custodian to:
- A. Deliver securities on a Free of Payment basis
- B. Receive securities on a Delivery versus Payment basis
- C. Deliver securities on a Delivery versus Payment basis
- D. Receive securities on a Free of Payment basis
Answer: B
NEW QUESTION 24
Internal trading systems typically do not:
- A. Have the capability to amend and cancel trades
- B. Have the capability to capture new trades
- C. Hold the firm's current trading positions
- D. Reflect the firm's settled positions at CSDs/custodians
Answer: D
NEW QUESTION 25
Accrued interest is designed to:
- A. Compensate the seller of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date
- B. Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) relating to the next coupon payment date
- C. Compensate the seller of an interest-bearing bond for interest earner, (but not paid) relating to the next coupon payment date
- D. Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date
Answer: A
NEW QUESTION 26
The type of organisation that specializes in deposit-taking and cash loans is known as a:
- A. Mutual fund
- B. Investment bank
- C. Private bank
- D. Commercial bank
Answer: D
NEW QUESTION 27
From the perspective of one party to a securities trade, Free of Payment settlement without risk means:
- A. Delivering an asset to the counterparty prior to receipt of the contra asset from the counterparty
- B. Simultaneously exchanging securities and cash with the counterparty
- C. Receiving the counterparty's asset before instructing release of the contra asset
- D. Delivering an asset to the counterparty following successful exchange of trade confirmations
Answer: C
NEW QUESTION 28
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
Answer: A
NEW QUESTION 29
Grey market trading refers to:
- A. Trading in corporate bonds following the bondholder's decision to take-up a put option
- 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 of equity and bonds by investors aged 65 and over at the start of the tax year
Answer: C
NEW QUESTION 30
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:
- A. 7 days of interest and a cash interest amount of GBP 3369.48
- B. 13 days of interest and a cash interest amount of GBP 6344.51
- C. 9 days of interest and a cash interest amount of GBP 4392.35
- D. 11 days of interest and a cash interest amount of GBP 5294.89
Answer: D
NEW QUESTION 31
The 3 largest centres for foreign exchange trading are:
- A. Hong Kong, 2) UK, 3) US
- B. UK, 2) US, 3) Singapore
- C. US, 2) Singapore, 3) UK
- D. US, 2) Japan, 3) UK
Answer: B
NEW QUESTION 32
The following are examples of money market instruments:
- A. Zero coupon bonds and Floating-rate notes
- B. Fixed-rate bonds and Step-up bonds
- C. Commercial Paper and Certificate of Deposit
- D. Convertible bonds and Mortgage-Backed Securities
Answer: C
NEW QUESTION 33
A European country that has not adopted the Euro is:
- A. Slovakia
- B. Belgium
- C. Norway
- D. Slovenia
Answer: C
NEW QUESTION 34
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. 76 days and GBP 236,004.15
- B. 107 days and GBP 336,883.85
- C. 45 days and GBP 139,739.30
- D. 45 days and GBP 141,680.12
Answer: A
NEW QUESTION 35
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