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Free Practice Questions for the ICMA Securities Operations Foundation SOFQ Exam (2026 Updated)

At Marks4sure, we are dedicated to providing IT professionals with the most accurate and reliable preparation materials for the ICMA SOFQ exam. To support your certification journey, we have made a selection of our premium 2026 Securities Operations Foundation practice questions and answers available completely free. You can take this practice test as many times as you need. Every question includes a detailed, expertly verified explanation to ensure you fully grasp the core security concepts before test day.

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Questions 4

A European country that has not adopted the Euro is:

Options:

A.

Belgium

B.

Slovakia

C.

Slovenia

D.

Norway

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Questions 5

'ISO' stands for:

Options:

A.

Invention of Standards for Organisations

B.

Intercontinental Symposium of Organisations

C.

International Organisation for Standardisation

D.

Intraterritorial Organisation of Securities

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Questions 6

'Sub-custodian' is a term that is applicable to:

Options:

A.

International central securities depositories

B.

Global custodians

C.

Local custodians

D.

National central securities depositories

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Questions 7

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 8

The abbreviation WAC stands for:

Options:

A.

Wheel and Calculate

B.

Weighted Average Cost

C.

West Against Charge

D.

Wait About Control

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Questions 9

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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Questions 10

A firm executing a securities trade in the capacity of agency broker intends:

Options:

A.

To take a securities position, and to remain market risk neutral

B.

Not to take a securities position, and not to remain market risk neutra

C.

Not to take a securities position, and to remain market risk neutral

D.

To take a securities position, and not to remain market risk neutral

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Questions 11

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

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Questions 12

The 'settlement cycle' within a securities market refers to the number of days:

Options:

A.

Between a trade's trade date and the actual settlement date of a trade

B.

Between a security's issue date and the value date of a trade

C.

Between a trade's trade date and its value date

D.

Between the trade date of a trade and the issue date of a security

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Questions 13

The number of days of accrued interest, and the cash value of accrued interest - on a trade of USD 45,000,000 World Bank 4.37% Bonds 1st December 2032, paying interest semi-annually on 1st December and Ist June, trade date 22~d October, value date 25tl October, is:

Options:

A.

144 days and USD 786,600.00

B.

174 days and USD 950,475.00

C.

141 days and USD 770,212.50

D.

171 days and USD 934,087-50

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Questions 14

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 15

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

Options:

A.

Receive securities on a Free of Payment basis

B.

Receive securities on a Delivery versus Payment basis

C.

Deliver securities on a Delivery versus Payment basis

D.

Deliver securities on a Free of Payment basis

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Exam Code: SOFQ
Exam Name: Securities Operations Foundation Qualification (SOFQ)
Last Update: Jul 31, 2026
Questions: 50

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