Technology in Investment - 2023 CISI Qs + Final cards for monday from all chaps Flashcards
What time frame does a firm have to amend data that is incorrect from a client?
- 20 Days
- 30 Days
- 40 Days
- 50 Days
30 Days
What is the maximum timeframe a firm can hold a clients data in line with the GDPR?
- Clients discretion
- 14 days
- Client sensitive data should never be stored internally
- As long as it needs
As long as it needs
What level of help desk is used to prioritize calls?
Level 1
Level 1 & 2
Level 2
Level 4
Level 1
What is the purpose of Statutory Reporting?
Post trade requirement
Pre trade requirement
Produce a firms balance sheet and P&L account
Produce a firms transaction reports
Produce a firms balance sheet and P&L account
What is settling within tolerance?
Slight difference in cash considerations on the trade instructions
Slight difference in cash considerations and the settlement amount
Slight difference in cash considerations on the trade amount
Slight difference in the buy and sell price of a bond
Slight difference in cash considerations on the trade instructions
What is the security layer for SWIFT?
SWIFTNET
SWIFTNET LINK
SWIFTNET LINK PKI
SWIFT SECURE
SWIFTNET LINK PKI
What is consideration?
Principal amount + Accrued interest + Commission
Principal amount + Accrued interest + Commission + Tax Fees and charges
Principal amount + Accrued interest + Commission + Clearing house fee
Principal amount + Accrued interest + Commission + Fees and charges
Principal amount + Accrued interest + Commission + Fees and charges
What is the principal for equities?
Share sell price x Share buy price
Market share / Price of equity
Number of shares x Market dislocation
Number of shares x Share Price
Number of shares x Share Price
What is the maximum percentage of a transaction that FFI’s can withhold aligning with the FATCA?
20%
30%
40%
60%
30%
What instruments are trade repositories involved with
Bonds
Government bonds only
OTC Derivatives
Products sold in a MTF
OTC Derivatives
How often do you record bonds and equities in general ledger?
End of day, daily
Weekly
Within a minute of the transaction confirmation
Monthly
End of day, daily
What is the difference between transaction reports and trade reports?
Transaction reports are public and for regulators and use an ARM whereas Trade reports are for private dissemination and use an APA
Transaction reports are private and for regulators and use an ARM whereas Trade reports are for public dissemination and use an APA
Transaction reports are private and for regulators and use an APA whereas Trade reports are for public dissemination and use an ARM
Transaction reports are not required under MiFID 2 whereas Trade reports are required under section 21 of MiFID and are publically available
Transaction reports are private and for regulators and use an ARM whereas Trade reports are for public dissemination and use an APA
Who manages SQL performance?
Chief Technology Officer
Chief Information Officer
Back end developers
Database Administrators
Database Administrators
How often should Business Continuity Plans be tested?
Bi-Annually
Dependent on size of the business, the FCA recommend every 3 years for large firms and bi-annually for smaller firms
Annually
Quarterly
Annually
For PRINCE 2, what examinations would the project manager have to sit?
foundation exam and practitioner exam
PRINCE applications and foundations exams
Foundation exam and a practical test conducted by an approved PRINCE 2 assessor
Foundation exam and a three year probation period
foundation exam and practitioner exam
What is the PTM Levy?
Transaction below 10,000
Transactions above 10,000
Transactions above 100,000
Transactions below 100,000
Transactions above 10,000
What’s penultimate step of vendor assessment?
CTO Sign off
Issuing RFP
Negotiation and place orders
Development of business continuity plan (BCP)
Negotiation and place orders
What are the key benefits to STP?
reduce systemic and op risk, improve trade matching, minimise op cost, improve customer service
reduce systemic and op risk, improve certainty, minimise op cost, improve customer service, less manual input
reduce systemic and op risk, improve certainty, minimise op cost, improve customer service
reduce systemic and op risk, improve certainty, minimise op cost, improve customer service, more trades can be processed
Reduce systemic and op risk, improve certainty, minimise op cost, improve customer service
Which key individual is most likely to interact with OIECs
Fund manager
Wealth manager
Project Manager
Financial Advisor
welf manager init
How often are bonds and equities recorded in the General Ledger?
as and when business events occur
quarterly
When a confirmation is received from the CSD
annually
as and when business events occur
in regards to a vendor what is the process after selecting the project team?
Specify requirements
Evaluate responses
Send RFI
Complete KYC
Specify requirements
What is Mifir/EMIR/STFR?
Regualtory frameworks in the EU
What does the “Total Count Method” ensure?
That all the safe custody assets be counted and reconciled on the same date
That all the safe custody assets are counted by using a reference data repository
That all the safe custody assets are counted and reconciled on the settlement date
That all the safe custody assets are counted and reconciled at the same time
That all the safe custody assets be counted and reconciled on the same date
What is the COBS rule?
Rule 2.1 states the purpose of the rule set as a whole, which is to ensure that firms always act honestly, fairly and professionally in accordance with the best interests of their clients.
they insist that if a firm is physically holding assets that belong to clients then these assets must be recorded under CASS
Rule 2.1 states the purpose of the rule set as a whole, which is to ensure that firms always act honestly, fairly and professionally in accordance with the best interests of their clients.
What does the “Rolling stock” method ensure?
- all of a particular safe custody asset are counted and reconciled as at the same date, and
- all safe custody assets are counted and reconciled during a period of six months.
What is the main consideration for PMBOK
Project decision and exam execution
Project initiation and exam essentials
Project initiation and exam essentials
Project essentials and exam revision
Project initiation and exam essentials
What is the penultimate step of vendor assessment?
Specify requirements
Evaluate Vendors
Send RFI
Complete KYC
Evaluate Vendors
One potential negative of best-shoring over near shoring?
Dispersion
Branding
Fragmentation
Costs of setting up multiple operation bases
Fragmentation
What are FOP Requirements
Secondary Authorization
Primary Authorization
Free of Payment regulations must be met
DvP must be done beforehand
Secondary Authorization
What is a configuration origin code?
Tells user of general ledger which system produced the transaction
Tells user of general ledger which system produced the trade
Tells user of general ledger which system produced the identifier code
Tells user of general ledger which code to use to settle a transaction
Tells user of general ledger which system produced the transaction
What date should bond issuers use to determine who receives the coupon?
Trade
Settlement
Consideration
Record
Record Date
What is the prohibited asset class in an OTF?
Equites
Bonds
Derivatives
Exotic Products
Equites
What does the CUNM mean in a settlement notification?
Cumulative trade
Trading error
Trade matched
Trade Unmatched
Trade Unmatched
What is traded on ICE Futures Europe:
- Futures and options
What are the names of the ledgers in the general ledger
Assets, Liabilities, Equity, Revenue, Expenses, Costs
Assets, Liabilities, Costs, Revenue,
Assets, Liabilities, Equity, Revenue, Expenses
Assets, Liabilities, Equity, Revenue, Expenses, Repository
Assets, Liabilities, Equity, Revenue, Expenses
What has been implemented to ensure hardware.
service level agreements (to ensure consistency)
RFPs
RFIs
Transaction reports
service level agreements (to ensure consistency)
What is the correct accounting equation?
Assets = Liabilities - Shareholders’ Equity
Assets = Liabilities + Shareholders’ Equity
Assets = Liabilities - Equity price
Assets = Liabilities - Portfolio adverts
Assets = Liabilities + Shareholders’ Equity
What is an equity Contract For Difference (CFDs)
contract between buyer and seller stipulating that the seller will pay the buyer the difference between the current and future value of the equity at an agreed date.
Visa Versa if negative
What are the three types of FX Transactions
spot - quoted by bank, T+2 - T+7, delivered on settlement date
forward -predetermined agreement beyond 7 days of tradedate
fx swap - agree swap for period of time and reverse transaction at a later date.
An organization that uses advanced investment strategies such as leveraged trading, long short and derivative positons in both domestic and international markets with the goal of generating higher returns is known as:
Robo-investment manager
A hedge fund
A wealth manager
Investment Bank
A hedge fund
What is the ‘Settlement date of a bond’
The date on which the investor should pay the consideration of the trade, take legal ownership of the instrument
The date that the trade was carried out
The date that the coupon is paid
The date on which the investor should pay the consideration of the trade, take legal ownership of the instrument. Should be the same as the value date, but there may be a delay
The date on which the investor should pay the consideration of the trade, take legal ownership of the instrument. Should be the same as the value date, but there may be a delay
What are the Key principles of automation? (5)
a transaction is entered into system only once
automated interfaces between systems so they can all keep track of transactions
trade processing should be in set stages each depending on the conclusion of previous stage
Manual intervention avoided as much as possible
above principles apply to all firms involved in the transaction
What 3 benefits do equity Contract for Difference (CFDs) offer investors?
investors to take long or short positions with:
no fixed expiry date or
contract size.
UK investors avoid stamp duty
Blood of industry
Criticality of data.
What is prudential regulation
concerned with financial soundness of regulated financial services firms.
Preventing investors and the economy from loss
What is the certification regime
Applies to ‘Material Risk Takers’
Have identified all certified individuals
-Have assessed them as fit and proper
-Have assessment of fitness of staff
Three Technological implications for the Senior Managers & Certification Regime (SM&CR)
All senior managers statements of responsibilities
Responsibilities map
Details of the regulatory approvals
handling of client assets (3 rules)
Record-Keeping
- Segregation
- Reconciliation
Reporting percentage?
Any move of 10% or more in a portfolio must be reported within 24 hours to the investor
What records are used to monitor market abuse
Post trade transaction reports via ESMA
Firms must provide confirmation details to the retail clinet:
In real time
On the trade date
On trade date +1
On trade dare +2
Trade date +1
Trade reports are near real-time broadcasts of trade data primarily aimed at:?
Detection of insider dealing
Market transparency
Detection of insider dealing & market abuse
Detection of market abuse only
Market transparency
Which of the following is correct regarding the segregation of duties?
Seg of duties attempts to limit operational errors
Seg of duties attempts to limit tech errors
Seg of duties attempts to limit authorized access to applications and underlying data
Seg of duties attempts to limit trading and accounting errors
Seg of duties attempts to limit authorized access to applications and underlying data
In stock lending, dividend of the loan are paid to the borrower. What should the borrower do with these payments?
Pay it to lender
Entitled to keep dividend
Borrower is entitled to keep the dividend but cost of loan is adjusted
Borrower retains the amount and pays the equivalent back at the end of the loan
Pay it to lender
Systems life cycle - What step is most likely to trigger a change of policy from completely replacing an old system to simply updating it?
Analysis
Fact finding
Feasibility study
Design investigation
Feasibility study
Main risk associated with FoP
Credit risk
Operational risk
Regulatory Risk
Market risk
Credit risk
To which firms do the requirements of MiFID 2 apply to?
Firms in the EU
Firms in the EEA
Globally regulated entities
Firms in the EU and firms who are outside the EU but have operations in the EU
Firms in the EEA
When a firm uses PRINCE 2, who will normally chair the project board at the start stage
Project Sponsor
Project Manager
The firms CEO
Firms head of IT
Project Sponsor
What is the idea behind ESMA
Establishment of an EU financial market watchdog
Provides advisory services to EU regulators
Sets obligatory requirements for prudential regulation of security firms within the EU
Twerkin
Establishment of an EU financial market watchdog
which of these is MOST likely to be built in-house, rather then brough from a software vendor
Complex general system
Help desk support system
Algorithmic trading software
A SWIFT Gateway
Algorithmic trading software
Info held in an IT system, in respect of individual ledger accouts should include:
Reference data items
Reference data items and balance information item
Reference data items, balance information items and transactions items
Reference data items, balance information items, transaction items and settlement agent items
Reference data items, balance information items and transactions items
What is the main risk that firms face if they send a free of payment (FoS) instruction
Reg risk
Credit
Op
Counterparty
Credit
Between trade date and settlement date. what does the settlement system receive from the settlement agent to allow back office staff to monitor trades?
Trade status
ISIN and instrument classification data
Interest accruals
Confirmations of RSDT payment types
trade status
Which software development methodology is based on the principle that unit tests are written first and fail until the code is written?
Waterfall
Agile
JAD
RAD
Agile
Why is a record date an important feature of a secondary market bond trade?
To determine who will receive the coupon
To determine whether accrued interest should be paid or not
To ensure price of the bond can be correctly reflected in portfolio valuations
To permit the coupon to be correctly apportioned between seller and purchaser
TO determine who will receive the coupon
An advantage over insourcing over outsourcing is:
Improved employee loyalty
Achieving complete information security
Improved credit risk management
Increased ability to comply with regulation
Improved employee loyalty
What is a distributed edger?
Shared and synchronised across multiple sites. Any changes to the system will be copied to all versions in milliseconds
Step 1 of Botnets?
Open a dodgy email with infected attachment inside
What is a systematic internaliser?
Under MiFID, a firms that executes orders from its own book and not part of any other exchanges.
Step 2 of Botnets?
Command and control server
Step 3 of Botnets
Malware connects to other computers
Step 4 of Botnets
Perform criminal activities
What is attribution analysis?
Calculation of why a portfolio had a certain return against a benchmark
What product does EMIR cover?
Bond
Futures
OTC Derivatives
Options
OTC Derivatives
What is a Designated Investment Exchange? (DIE)
is an overseas exchange that does not carry on a regulated activity in the UK and is not a regulated market. May be included on the FCAs list of DIEs
What is a Recognized Overseas Investment Exchange (ROIE)
Based outside the UK but admits UK banks and firms as members and is recognized by the FCA. Like NASDAQ
What is a Recognized Investment Exchange (RIE)
Based in the UK and recognized by the FCA
Does an order driven system have any market makers?
Yes
No
Only on tuesdays
No
What is a quote driven system?
Market makes quote two-way price in each of the products. Identity known. Illiquid instruments
Does an quote driven system have any market makers?
Yes
No
Only on tuesdays
Yes
What is an order system?
Buy price matches sell price. Identity is not known. Liquid instruments
MiFID time is done on?
Real time
T+1
T+2
Whenever they can be arsed
real time
Who does the EUI service
EU and Ireland
EU and UK
EU and firms outside EEA with EU business
Michael van gerwen
EU and Ireland
Basis points cover what product?
Derivatives
OTC Derivatives
Futures/Options
Bonds
Bonds
Basis point
1/10
1/100
1/1000
1/10000
1/100
X per lot what product?
Derivatives
OTC Derivatives
Futures/Options
Bonds
Futures/Options
What is an agent order?
Forwarded to investment exchange
What is principal order?
Comes off own book
What happens at a stop loss amount?
Buy or sell at a predefined limit
Buy at predefined limit
Sell at predefined limit
Buy at what ever price
Buy or sell at a predefined limit
What is Black box testing
Only accesses the software through the same interfaces as the end user
Logic traced manually through small sets of code
Access to the source code and test that
Mix of white and black testing
Only accesses the software through the same interfaces as the end user
What is Free of Payment (FoP)
Settlement methodology where cash and securities are not linked to one another. Opposite of DvP
What is White box testing
Only accesses the software through the same interfaces as the end user
Logic traced manually through small sets of code
Access to the source code and test that
Mix of white and black testing
Access to the source code and test that
What is Grey box testing
Only accesses the software through the same interfaces as the end user
Logic traced manually through small sets of code
Access to the source code and test that
Mix of white and black testing
Mix of white and black testing
What is Code walkthrough
Only accesses the software through the same interfaces as the end user
Logic traced manually through small sets of code
Access to the source code and test that
Mix of white and black testing
Logic traced manually through small sets of code
What do the EUI issue?
Investment mandate
Help guide
DEX
FEDEX
DEX
Which software is compulsory to make use of a prototype
Waterfall model
RAD Model
JAD Model
Agile Model
RAD Model
What of the following iis always traded by the sell side firm in an agency capacity?
FX products
UK equities
Listed Options
Gilts
Listed Options
Firms that are Member-Administrated Closed User group can use the SWIFT network to send and receive?
FIN Messages with SWIFT standard
XML messages with SWIFT standard
All messages with SWIFT standard
All messages without SWIFT standard
All messages without SWIFT standard
What are the four elements to the Reference data challenge?
Gather, store, updating and utilizing appropriately
The FCA rules require client agreements to be held:
In paper form
In paper or electronically
In electronical form
On a durable medium
Durable medium
What does ISO 9126 deal with?
A Project documentation standards
B Project management standards
C Software development standards
D Software evaluation standards
D - Software evaluation standards
ISO 9126 deals with the evaluation of software
Mark to market of a firm’s portfolio would most likely use which method to establish the profit and loss on a portfolio?
A First in; first out
B Last in; first out
C Value at risk
D Weighted average prices
Weighted average prices
The most widely used method of calculating profit and loss as part of a mark to market exercise is to use weighted average prices.
Which of the following would you NOT expect to be included in a message confirming the trade has been settled?
A Stock amount
B Security
C Price
D Consideration
A settlement advice will detail the stock that has been delivered or received and the amount of cash paid or received but is unconcerned with the price the trade was executed at.
C Price
Which of the following would you expect to be recorded as a debit in the general ledger?
A Gains
B Liabilities
C Inventory
D Shareholders equity
C Inventory
Inventory is recorded as a debit in the general ledger
The success of Synchronise and stabilise (or sync and stabilise) as a software development lifecycle is dependent on:
A all teams to be synchronised
B the appointment of a senior responsible owner
C clearly defined project management
D teams being close proximity to each other
all teams to be synchronised
Synchronise and stabilise (or sync and stabilise) is an SDLC in which teams work in parallel on individual application modules. There is a requirement for all teams to synchronise their code with the other teams regularly and debug or stabilise it regularly throughout the development process.
Firm A executes trades for clients on SETS and is a non-clearing member of London Clearing House. It will not need access to the systems of which entity?
A Euroclear
B Central counterparty
C London Stock Exchange
D Aquis
B Central counterparty
A firm that does not clear its own trades is known as a non-clearing member (NCM) or dealer member. It needs connectivity to the exchange’s systems but not to the clearing house’s / central counterparty’s systems. A General Clearing Member (GCM) needs connectivity to both entities’ systems.
Which stage of SDLC would be used to test whether an application performed as expected?
A Analysis
B Design
C Implementation and review
D System specification
C Implementation and review
Implementation and review involves setting and installing the new system including writing code; training staff; monitoring for initial problems and regularly maintaining afterwards.
Which type of client has the greatest protection under the regulatory system?
A Eligible counterparty
B Private investor
C Professional client
D Retail client
The correct answer is: D - Retail client
You have been asked to store standard settlement dates for a range of instruments on an instrument masterfile. What standard settlement convention would you record for a FX trade?
A T+1
B T+2
C T+3
D T+10
The correct answer is: B - T+2 Explanation
Standard settlement conventions are; Bonds T+1; FX and money market T+2; Equities T+2.
ABC Company is an investment management firm and outsources its IT functions to a specialist supplier. An advantage of this strategy would be:
A It does not need to retain its staff who know the firm’s existing systems
B It need not concern itself with information security
C It saves documenting current working practices
D Opportunity to replace outdated technologies
The correct answer is: D - Opportunity to replace outdated technologies
The company to which it outsources may be in a better position to replace outdated technologies and working methods.
In which type of testing would you manipulate the testing environment?
A Black box
B Grey box
C White box
D V model
The correct answer is: B - Grey box
In grey box testing, the test environment is manipulated through configuration files or data to establish a state of the product suitable for testing or verification.
The stock record would typically NOT record positions at value date for which of the following types of assets?
A Bond purchase
B Equity purchase
C Money market deposits
D Repos
Money market deposits
Which is the linear sequence development methodology?
A Fountain
B JAD
C Spiral
D Waterfall
The correct answer is: D - Waterfall
When a firm is acting as a broker it is performing which trade?
A Agency trade
B Aggregated trade
C Principal trade
D Proprietary trade
The correct answer is: A - Agency trade
Front office dealing applications need to be able to route orders to different execution venues as a result of which provisions in MiFID?
A Best execution requirements
B MTF and systematic internaliser rules
C Pre-trade transparency rules
D Post trade transparency rules
The correct answer is: A - Best execution
MiFID rules require firms to determine which execution venues they will use in order to obtain best execution of client trades.
When a sell-side firm acts as principal, its revenue consists of:
A. Commission
B. The difference between the buying price and the selling price
C. A specially negotiated fee
D. A fixed percentage of the deal value
B. The difference between the buying price and the selling price
Which of the following is a form of iterative/incremental software development?
A. Waterfall model
B. End-user development
C. Fountain model
D. Agile model
A. Waterfall model
Data proximity is a concern that many firms have about cloud computing.
Data proximity means that:
A. the firm’s data may be held on the same premises as that of a competitor
B. the firm does not know where the data is held
C. the firm’s data may be held on the same database as that of a competitor
D. the firm is unable to tell its regulator where its data is held
C - close proximity of competitor
DaimlerChrysler shares are listed on stock exchanges in seven countries. How many ISIN codes are allocated to DaimlerChrysler shares?
A. One
B. Seven
C. Four
D. Three
Uno
Which of the following is a wholesale market activity associated with an investment bank?
A. Execution-only stockbroking
B. Life assurance
C. Mergers and acquisitions
D. Private banking
M n a
- You have made the decision to outsource the development of a new business application. Which of the following is likely to be the most suitable method of outsourcing this work?
A. Near-shoring
B. Inshoring
C. Offshoring
D. Best-shoring
E. Geordie shoring
Best shoring
Which of these items is not contained in the header message of a SWIFT FIN (MT series) message?
A. The first transaction record
B. The destination BIC code
C. The sender’s BIC code
D. The message type
Transaction record
The source code for a particular application cannot be found. Which of the following techniques have been developed to prevent this type of problem?
A. Software development life cycle
B. Change control methodology
C. Availability management
D. Service level management
Change control
Which of the following is the ISO standard for software evaluation?
A. ISO 9000
B. ISO 9001
C. ISO 9001:2000
D. ISO 9126
D
What is the main function of a trade repository?
A. To collect records of OTC derivatives trades in order to provide regulators with information about firms’ risk exposure
B. To store records of securities trades in order that a regulator can periodically check firms’ compliance with the conduct of business regulations
C. To fulfil the reporting and transparency requirements of multilateral trading facilities and systematic internalisers under MiFID II
D. To store records of all securities trades so that regulators can monitor the markets to track insider dealing and other forms of market abuse
A
Which regulator has the responsibility to enhance the protection of investors and reinforce stable and well-functioning financial markets in the European Union (EU)?
A. The Basel Committee
B. The European Securities Markets Authority
C. The European System of Financial Supervision
D. The European Banking Authoritye
Esma
In relation to disaster recovery, what is ‘log shipping’?
A. An automated procedure for backing up databases on two servers in different locations
B. An approach to maintaining system availability whereby all transactions are written to the production server and a standby server at different locations simultaneously
C. Maintaining a spare server at a standby location that is configured similarly to the primary server and is running the same version of the operating system, database and application software, with all the same service packs applied
D. A testing method aimed at determining the feasibility and compatibility of back-up facilities and procedures and ranking critical needs and functions
A
- Which of the following statements about the MT500 series of messages is true?
A. It deals with securities messages and is based on ISO 7775
B. It deals with foreign exchange and money market messages and is based on ISO 15022
C. It deals with foreign exchange and money market messages and is based on ISO 7775
D. It deals with securities messages and is based on ISO 15022
D
What time frame does a firm have to amend info if a client says it is inaccurate
20 days
30 days
40 days
50 days
30
What is the min capital requirement under MiFID 2 (%)
1-8
8
8-15
15
8-15
In regards to a vendor what is the process after selecting the project team?
Specify requirements
Send requirements
Send RFP
Evaluate vendors
What is code walkthrough?
a manual testing technique where program logic is traced manually using a small set of test cases to analyse the programmer’s logic and assumptions.
in white box testing the tester has access to the source code and can write tests specific to the area of change.
is is a cursory examination of all of the basic components of a software system
Holding the testers hand during User Acceptance Testing
a manual testing technique where program logic is traced manually using a small set of test cases to analyse the programmer’s logic and assumptions.
Who do database administrators report to?
head of technology
project manager
head of production support
head of technology security
head of production support
What is joint development
- It may be able to undertake ‘joint developments’ for more than one customer in the same industry so that the capital cost of a large software development project is shared by more than one customer.
- In an IT department who is responsible for reviewing back up / recovery strategies?
- Systems developer
- Business analyst
- Database administrator
- Help desk analyst
Database administrator
Which report would you expect to contain portfolio benchmark performance data against the FTSE 100?
- Capital cash
- Corporate actions
- Periodic statement
- Statement of assets in custody
Periodic statement
- Which of the following is a reference data item:
- Open balance
- Date of transaction
- Money value of transaction
- Currency of postings made
- Currency of postings made
- A maturity ladder will show cash movements covering how many working days:
- 5
- 3
- 7
- 10
5
- If a Fee of Payment delivery is to be made, what needs to be conducted:
- A client credit search
- Collateral amount calculation
- Secondary authorisation
- Fixed percentage added
Secondary authorisation
- Which GDPR principle is a firm in breach of if it retains data for longer than required?
- Data minimisation
- Storage limitation
- Purpose limitation
- Integrity and confidentiality
Purpose limitations
- Which date do bond issuers determine who receives the coupon payment:
- Value date
- Trade date
- Record date
- Coupon date
Record date
- ICE Futures Europe facilitate trades for:
- US equities
- US bonds
- OTC derivatives
- Futures and options
D
- Specialist reconciliation systems are deployed to compare settlement records with:
- Front office systems
- Back office systems
- Front office systems, 3rd party systems
- Front office systems, externally transmitted transactions details
D
- Which support team makes decisions in relation to overall resource issues?
- Help desk
- Management
- Service specialists
- Analysts
Help desk
- What aspect of buy / sell orders is affected with algorithmic trading systems:
- Size
- Timing
- Size and timing
- Neither size or timing
- Size and timing
- When equities are traded on SEAQ which of the following applies:
- No credit risk
- No central counterparty
- Novation delay
- Carried out by LCH Clearnet
- No central counterparty
- Which areas of a securities company’s activities should be risk assessed by the disaster recovery planning committee:
- Those deemed high-risk
- Those that are business critical
- All functional areas
- Functional areas that interface directly with clients
Busienss critical
- Which area of financial services are closely associated with open ended investment companies:
- Banking
- Custody
- Wealth management
- Fund management
Wealth management
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