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

Question 1

A European country that has not adopted the Euro is:

A. Slovakia

B. Norway

C. Belgium

D. Slovenia

Correct Answer: B

Question 2

The ISIN stands for:

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

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

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

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

Correct Answer: A

Question 3

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

A. Askable bond

B. Demandable bond

C. Requestable bond

D. Callable bond

Correct Answer: D

Question 4

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

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

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

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

D. Simultaneously exchanging securities and cash with the counterparty

Correct Answer: B

Question 5

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

A. A region code, a country code and a city code

B. A bank code, a continent code and a currency code

C. A continent code, a country code and a municipality code

D. A bank code, a country code and a location code

Correct Answer: D

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