Name: Securities Operations Foundation Qualification (SOFQ)
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Free ICMA SOFQ Exam Actual Questions

The questions for SOFQ were last updated On Nov 19, 2024

Question No. 1

The two choices for the settlement method utilised within a securities market are:

A'Account Settlement1 and Tumbling Settlement'

BTumbling Settlement' and 'Continuing Settlement'

C'Continuing Settlement'and'Account Settlement'

D'Rolling Settlement' and 'Account Settlement'

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Correct Answer: D

Question No. 2

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

ADemandable bond

BCallable bond

CRequestable bond

DAskable bond

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Correct Answer: B

Question No. 3

Grey market trading refers to:

ATrading of equity and bonds by investors aged 65 and over at the start of the tax year

BTrading in convertible and exchangeable bonds prior to their conversion

CTrading in corporate bonds following the bondholder's decision to take-up a put option

DTrading in a new issue of bonds by parties not involved in the syndication process

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Correct Answer: D

Question No. 4

A S.W.I.FT. MT541 instructs a custodian to:

AReceive securities on a Free of Payment basis

BReceive securities on a Delivery versus Payment basis

CDeliver securities on a Delivery versus Payment basis

DDeliver securities on a Free of Payment basis

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Correct Answer: B

Question No. 5

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

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

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

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

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

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Correct Answer: C