Free ICMA SOFQ Exam Dumps Questions & Answers

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

• A.The total ownership position is equal to the sum of the settled positions plus/minus open trades with counterparties
• B.The total ownership position is equal to the sum of open and closed trades with counterparties
• C.The total settled position is equal to the sum of open trades and trades with a future value date
• D.The total settled position is equal to the sum of open and closed trades with counterparties

DTC - the central securities depository for US equities is the abbreviation for:

• A.Depot for Trades Corporation
• B.Deposit and Trade Conglomerate
• C.Depot Transaction
• D.Depository Trust Company

Within internal books and records, the recording of the trading book on a securities trade facilitates:

• A.Reconciliation of trading positions, per trading book and per security - between the trading department and operations
• B.Reconciliation of trading positions, per trading book and per security - between the firm's counterparty and the firm's custodian
• C.Reconciliation of settled positions, per trading book and per security - between operations and the firm's custodian
• D.Reconciliation of settled positions, per trading book and per security - between the trading department and operations

Accrued interest is designed to:

• A.Compensate the seller of an interest-bearing bond for interest earner, (but not paid) relating to the next coupon payment date
• B.Compensate the seller of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date
• C.Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) since the previous coupon payment date
• D.Compensate the buyer of an interest-bearing bond for interest earned, (but not paid) relating to the next coupon payment date

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

• A.Commercial bank
• B.Investment bank
• C.Mutual fund
• D.Private bank