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ICMA SOFQ - Securities Operations Foundation Qualification (SOFQ)

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Total 50 questions

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.

76 days and GBP 236,004.15

C.

107 days and GBP 336,883.85

D.

45 days and GBP 141,680.12

The calculation of profit and loss for securities includes:

A.

Realised (potential) P&Land Unrealised (actual) P&L

B.

Realised (projected) P&L and Unrealised (authentic) P&L

C.

Realised (predicted) P&L and Unrealised (likely) P&L

D.

Realised (actual) P&Land Unrealised (potential) P&L

A European country that has not adopted the Euro is:

A.

Belgium

B.

Slovakia

C.

Slovenia

D.

Norway

A 'put' option on a bond allows:

A.

The stock exchange to force the bondholder to redeem the bonds prior to the bond's scheduled maturity date

B.

The regulator to force the issuer to redeem the bonds prior to the bond's scheduled maturity date

C.

The bondholder to redeem their bonds prior to the bond's scheduled maturity date

D.

The bond issuer to force redemption of bonds prior to the bond's scheduled maturity date

Where the term 'Ordinary Shares' is used in the UK, the equivalent term in the US is:

A.

Common stock

B.

Corporate Shares

C.

Normal Shares

D.

Ordinary Stock

DTC - the central securities depository for US equities is the abbreviation for:

A.

Depository Trust Company

B.

Depot Transaction

C.

Deposit and Trade Conglomerate

D.

Depot for Trades Corporation

The 'settlement cycle' within a securities market refers to the number of days:

A.

Between a trade's trade date and the actual settlement date of a trade

B.

Between a security's issue date and the value date of a trade

C.

Between a trade's trade date and its value date

D.

Between the trade date of a trade and the issue date of a security

The abbreviation WAC stands for:

A.

Wheel and Calculate

B.

Weighted Average Cost

C.

West Against Charge

D.

Wait About Control

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

A.

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

B.

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

C.

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

D.

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

The US regulator 'SEC stands for:

A.

Securities Exchange Corporation

B.

Securities Enterprise Conglomerate

C.

Securities and Exchange Commission

D.

Securities Endeavour Company