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

Demo: 7 questions
Total 50 questions
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Securities Operations Foundation Qualification (SOFQ) Questions and Answers

Question 1

A bond whose coupon rate increases at pre-specified dates and at a pre-specified interest rate is known as:

Options:

A.

A floating rate note

B.

A convertible bond

C.

A mortgage-backed security

D.

A step-up bond

Question 2

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:

Options:

A.

7 days of interest and a cash interest amount of GBP 3369.48

B.

9 days of interest and a cash interest amount of GBP 4392.35

C.

13 days of interest and a cash interest amount of GBP 6344.51

D.

11 days of interest and a cash interest amount of GBP 5294.89

Question 3

The ISO currency code 'CHF represents:

Options:

A.

Ivory Coast Franc

B.

Chinese Renminbi

C.

Swiss France

D.

Norwegian Krone

Question 4

FTM Levy is charged:

Options:

A.

On US equity trades -where the gross consideration is in excess of USD 10,000.00

B.

On UK equity trades where the gross consideration is GBP 10,000.00 and above

C.

On US equity trades where the gross consideration is USD 10,000.00 and below

D.

On UK equity trades where the gross consideration is in excess of GBP 10,000.00

Question 5

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:

Options:

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

Question 6

The type of organisation that specializes in deposit-taking and cash loans is known as a:

Options:

A.

Mutual fund

B.

Commercial bank

C.

Investment bank

D.

Private bank

Question 7

Thefollowing is an inaccurate statement:

Options:

A.

Warrants have a variable exercise price

B.

Warrants are exercisable by the warrant holder

C.

Warrants will expire if not exercised by the expiry date

D.

Warrants are detachable from the original security

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Demo: 7 questions
Total 50 questions
Get SOFQ Full Access Download SOFQ PDF