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  5. Securities Operations Foundation Qualification (SOFQ) Questions and Answers

SOFQ Sample Questions Answers

Questions 4

Accrued interest is designed to:

Options:

A.

Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date

B.

Compensate the seller of an interest-bearing bond for interest earner, (but not paid) relating to the next coupon payment date

C.

Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) relating to the next coupon payment date

D.

Compensate the seller of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date

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Questions 5

IPO' stands for:

Options:

A.

International Private Offering

B.

Inclusive Pre Offering

C.

Initial Public Offering

D.

Integrated Post Offering

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Questions 6

The divisors applicable to the calculation of bank interest are:

Options:

A.

EUR = 360, USD = 360, GBP = 365

B.

EUR = 365, USD = 360, GBP = 365

C.

EUR = 365, USD = 365, GBP = 360

D.

EUR = 360, USD = 365, GBP = 360

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Questions 7

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

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Questions 8

The type of organisation that provides securities underwriting services is known as a

Options:

A.

Investment bank

B.

Insurance company

C.

Commercial bank

D.

Pension fund

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Questions 9

The calculation of profit and loss for securities includes:

Options:

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

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Questions 10

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

Options:

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

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Questions 11

The ISO currency code 'CHF represents:

Options:

A.

Ivory Coast Franc

B.

Chinese Renminbi

C.

Swiss France

D.

Norwegian Krone

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Questions 12

A S.W.I.FT. 'Bank Identifier Code' comprises::

Options:

A.

A region code, a country code and a city code

B.

A bank code, a country code and a location code

C.

A continent code, a country code and a municipality code

D.

A bank code, a continent code and a currency code

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Questions 13

The International Monetary Fund is an example of:

Options:

A.

A supranational organisation

B.

A sovereign wealth fund

C.

An investment bank

D.

A securities market regulator

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Questions 14

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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Questions 15

A bond which permits the issuer to redeem the bond prior to its maturity date is known as a:

Options:

A.

Demandable bond

B.

Callable bond

C.

Requestable bond

D.

Askable bond

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Exam Code: SOFQ
Exam Name: Securities Operations Foundation Qualification (SOFQ)
Last Update: May 17, 2024
Questions: 50
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