عمليات الأوراق المالية العالمية - CISI Free Sample Paper: Clearing, Settlement and Custody Topic Preview

Q: Are these عمليات الأوراق المالية العالمية - CISI sample questions updated for 2026?

Yes, these free practice questions are continuously reviewed and updated to reflect the latest official syllabus changes and regulatory requirements for candidates in international markets.

Q: How similar is this sample paper to the real عمليات الأوراق المالية العالمية - CISI exam?

These questions preview the practice style available in the course, but they cover only Clearing, Settlement and Custody. This is not a full mock exam and the result cannot measure your overall exam readiness.

Q: What does my عمليات الأوراق المالية العالمية - CISI topic-preview score mean?

It reflects only your answers to 15 questions from Clearing, Settlement and Custody. Other syllabus areas are not tested here, so the score is not a pass or fail result and should not be used to predict your official exam performance.

Q: Can I retake this free topic preview?

Yes. You can retake these 15 questions, but repeated attempts cover the same single topic. The full course unlocks all 250 practice questions and broader mock-exam practice.

Question 1

In the UK, which Central Securities Depository (CSD) is responsible for the settlement of UK equities and gilts?

Accepted Answer

CREST (Euroclear UK & International)

Answer

DTCC

Answer

Clearstream Banking

Answer

HKSCC

Question 2

Which of the following is considered the largest International Central Securities Depository (ICSD) globally?

Accepted Answer

Euroclear Bank

Answer

Clearstream Banking Luxembourg

Answer

The Depository Trust Company (DTC)

Answer

Austraclear

Question 3

Which regulatory framework specifically requires the clearing and reporting of Over-The-Counter (OTC) derivatives and mandates CCP clearing for standardised OTC derivatives?

Accepted Answer

EMIR

Answer

AIFMD

Answer

MiFID II

Answer

SFTR

Question 4

What is the standard settlement cycle for UK Gilts?

Accepted Answer

T+1

Answer

T+0

Answer

T+2

Answer

T+3

Question 5

Since May 2024, what is the mandated standard settlement cycle for US Equities?

Accepted Answer

T+1

Answer

T+0

Answer

T+2

Answer

T+3

Question 6

Under the BIS models for Delivery versus Payment (DvP), how does Model 1 operate?

Accepted Answer

Securities and cash are transferred simultaneously on a gross-by-gross basis, making it the most secure model.

Answer

Securities are transferred on a gross basis, while funds are settled on a net basis at the end of the day.

Answer

Both securities and funds are transferred on a net basis simultaneously.

Answer

Securities are transferred free of payment, and cash is reconciled manually the following day.

Question 7

Which settlement accounting method typically benefits the seller by crediting their account on the expected settlement date, even if the actual settlement is delayed?

Accepted Answer

Contractual Settlement Date Accounting (CSDA)

Answer

Actual Settlement Date Accounting (ASDA)

Answer

Continuous Net Settlement (CNS)

Answer

Mark-to-Market Accounting (MTM)

Question 8

If an investment firm uses Actual Settlement Date Accounting (ASDA), when are accounts credited or debited?

Accepted Answer

Only when the settlement actually occurs and securities or funds are successfully transferred.

Answer

Only on the contractual settlement date, regardless of any delays.

Answer

Immediately upon trade execution on T+0.

Answer

At the end of the month during the periodic reconciliation process.

Question 9

Which netting system used by the DTCC/NSCC for US equities extends multilateral netting by rolling forward failed trades into the current day's settlement obligations?

Accepted Answer

Continuous Net Settlement (CNS)

Answer

Bilateral Netting

Answer

Trade Date Netting

Answer

Real-Time Gross Settlement (RTGS)

Question 10

Which system provides real-time global settlement specifically designed to eliminate Herstatt risk in foreign exchange transactions?

Accepted Answer

CLS

Answer

TARGET2

Answer

CHAPS

Answer

BOJ-NET

Question 11

If a seller fails to deliver securities for settlement, what is a standard remedy the buyer can initiate to resolve the situation?

Accepted Answer

Initiating a buy-in to purchase the securities from an alternative source, charging the costs to the defaulting seller.

Answer

Requesting a corporate action from the issuer to create new shares.

Answer

Applying to the financial regulator to cancel the original trade.

Answer

Initiating a selling-out procedure to force the defaulting seller to buy back the shares.

Question 12

If a custodian fails to inform an investor of a corporate event, resulting in a financial loss for the investor, who is liable to compensate for the loss?

Accepted Answer

The custodian

Answer

The investment manager

Answer

The issuer of the securities

Answer

The central securities depository

Question 13

How do institutional investors typically participate in proxy voting when their assets are held in safe custody?

Accepted Answer

Custodians facilitate the proxy voting process on behalf of the institutional investors.

Answer

They must physically attend the Annual General Meeting to cast their votes.

Answer

They are legally barred from voting if their shares are registered in a nominee name.

Answer

The registrar automatically votes on their behalf in alignment with the board of directors.

Question 14

A global custodian charges a fee of 20 basis points (bps) annually on a portfolio valued at US$50 million. What is the annual fee in US dollars?

Accepted Answer

US$100,000

Answer

US$10,000

Answer

US$20,000

Answer

US$50,000

Question 15

How frequently should a custodian conduct risk reviews of its custody network and sub-custodians?

Accepted Answer

It depends entirely on the nature of the market and the type of services provided; there is no fixed mandatory schedule.

Answer

They must be conducted strictly on an annual basis in accordance with AAF 01/20 guidelines.

Answer

They are required to be conducted daily alongside the mark-to-market valuations.

Answer

They are only required when the sub-custodian undergoes a change of ownership.

عمليات الأوراق المالية العالمية - CISI Free Sample Paper & Practice Questions

In the UK, which Central Securities Depository (CSD) is responsible for the settlement of UK equities and gilts?

عمليات الأوراق المالية العالمية - CISI

افتح خصم 20٪

About This Free Sample Paper

Why Use a Question Bank & Mock Exams?

Frequently Asked Questions

Pass on Your First Attempt

عمليات الأوراق المالية العالمية - CISI Free Sample Paper & Practice Questions

In the UK, which Central Securities Depository (CSD) is responsible for the settlement of UK equities and gilts?

عمليات الأوراق المالية العالمية - CISI

افتح خصم 20٪

About This Free Sample Paper

Why Use a Question Bank & Mock Exams?

Frequently Asked Questions

Pass on Your First Attempt

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