Free ICMA SOFQ Exam Actual Questions & Explanations

Last updated on: Jun 4, 2026

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Question No. 1

The following are examples of money market instruments:

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Correct Answer: D

Question No. 2

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

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Correct Answer: D

Question No. 3

Where Firm A has borrowed a fixed cash amount on a secured basis from Firm B, an increase in the collateral value means that:

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Correct Answer: D

Question No. 4

Where the term 'Ordinary Shares' is used in the UK, the equivalent term in the US is:

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Correct Answer: A

Question No. 5

Bond types that are traded at a deeply discounted price are:

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Correct Answer: B