Technology in Investment - 2023 CISI Qs + Final cards for monday from all chaps Flashcards by Kerry kirk

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

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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

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What level of help desk is used to prioritize calls?

Level 1
Level 1 & 2
Level 2
Level 4

Level 1

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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

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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

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What is the security layer for SWIFT?

SWIFTNET
SWIFTNET LINK
SWIFTNET LINK PKI
SWIFT SECURE

SWIFTNET LINK PKI

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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

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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

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What is the maximum percentage of a transaction that FFI’s can withhold aligning with the FATCA?

20%
30%
40%
60%

30%

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What instruments are trade repositories involved with

Bonds
Government bonds only
OTC Derivatives
Products sold in a MTF

OTC Derivatives

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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

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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

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Who manages SQL performance?

Chief Technology Officer
Chief Information Officer
Back end developers
Database Administrators

Database Administrators

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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

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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

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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

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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

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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

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Which key individual is most likely to interact with OIECs

Fund manager
Wealth manager
Project Manager
Financial Advisor

welf manager init

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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

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in regards to a vendor what is the process after selecting the project team?

Specify requirements
Evaluate responses
Send RFI
Complete KYC

Specify requirements

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What is Mifir/EMIR/STFR?

Regualtory frameworks in the EU

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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

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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.

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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

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

16. 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

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

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

35. 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

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

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.

1. 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

4. 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

6. A maturity ladder will show cash movements covering how many working days: - 5 - 3 - 7 - 10

14. 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

9. 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

12. Which date do bond issuers determine who receives the coupon payment: - Value date - Trade date - Record date - Coupon date

Record date

16. ICE Futures Europe facilitate trades for: - US equities - US bonds - OTC derivatives - Futures and options

17. 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

20. Which support team makes decisions in relation to overall resource issues? - Help desk - Management - Service specialists - Analysts

Help desk

21. What aspect of buy / sell orders is affected with algorithmic trading systems: - Size - Timing - Size and timing - Neither size or timing

- Size and timing

25. 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

28. 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

30. 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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Technology in Investment - 2023 CISI Qs + Final cards for monday from all chaps Flashcards

(150 cards)