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

Questions # 1:

The 3 largest centres for foreign exchange trading are:

Options:

US, 2) Japan, 3) UK

Hong Kong, 2) UK, 3) US

US, 2) Singapore, 3) UK

UK, 2) US, 3) Singapore

Questions # 2:

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

Options:

Common stock

Corporate Shares

Normal Shares

Ordinary Stock

Questions # 3:

From the perspective of one party to a securities trade, Free of Payment settlement without risk means:

Options:

Delivering an asset to the counterparty prior to receipt of the contra asset from the counterparty

Simultaneously exchanging securities and cash with the counterparty

Delivering an asset to the counterparty following successful exchange of trade confirmations

Receiving the counterparty's asset before instructing release of the contra asset

Questions # 4:

The number of days of accrued interest, and the cash value of accrued interest - on a trade of USD 45,000,000 World Bank 4.37% Bonds 1st December 2032, paying interest semi-annually on 1st December and Ist June, trade date 22~d October, value date 25tl October, is:

Options:

144 days and USD 786,600.00

174 days and USD 950,475.00

141 days and USD 770,212.50

171 days and USD 934,087-50

Questions # 5:

The following are examples of money market instruments:

Options:

Zero coupon bonds and Floating-rate notes

Convertible bonds and Mortgage-Backed Securities

Fixed-rate bonds and Step-up bonds

Commercial Paper and Certificate of Deposit

Questions # 6:

Internal trading systems typically do not:

Options:

Reflect the firm's settled positions at CSDs/custodians

Have the capability to capture new trades

Hold the firm's current trading positions

Have the capability to amend and cancel trades

Questions # 7:

A firm executing a securities trade in the capacity of agency broker intends:

Options:

To take a securities position, and to remain market risk neutral

Not to take a securities position, and not to remain market risk neutra

Not to take a securities position, and to remain market risk neutral

To take a securities position, and not to remain market risk neutral

Questions # 8:

The Clearstream Group includes:

Options:

The ICSD 'Clearstream Banking Paris' and the NSCD 'Clearstream Banking Munich'

The ICSD 'Clearstream Banking Brussels' and the NCSD 'Clearstream Banking Berlin'

The ICSD 'Clearstream Banking Luxembourg' and the NSCD 'Clearstream Banking Frankfurt'

The ICSD 'Clearstream Banking Amsterdam' and the NSCD 'Clearstream Banking Luxembourg'

Questions # 9:

IPO' stands for:

Options:

International Private Offering

Inclusive Pre Offering

Initial Public Offering

Integrated Post Offering

Questions # 10:

The ISIN stands for:

Options:

International Securities Identification Number; a 13-character alpha-numeric code

International Secondary ID Notation; a 13-character alpha-numeric code

International Securities Identification Number; a 12-character alpha-numeric code

International Secondary ID Notation; a 12-character alpha-numeric code

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