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CISI SECURITIES EXAM LATEST 2025/ 2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||LATEST EXAM!!!||
||BRANDNEW!!!||
What is the difference between cross rate and direct rate?(2) - Answer-A direct rate involves one domestic currency, while a cross rate involves two foreign currencies that are calculated through a third currency eg (EUR/JPY, GBP/AUD, AUD/NZD, and USD/CHF)
What are French gov bonds called, when are coupon interest payments paid and when is settlement? (2) - Answer-OATs, PAID ANNUALLY and T+2
What are the different German gov bonds called, when are the interest payments paid, and when is settlement? (2) - Answer-- Schatz < 2 years
- Bobl 5 years
- Bund > 10 years
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T+2
What are the names of the different US bonds, their maturities, and their settlement? (2) - Answer-- T-bills, less than a year and T+0
- T-notes, 2-10 years and T+1
- T-bonds, > 10 years and T+1
What is meant by ex-dividend?(2) - Answer-This is the day on which a stock begins trading without the dividend. If you buy the stock on or after this day, you are not entitled to the dividend payment. In other words, the stock is trading "ex" or "without" the dividend.
What is meant by cum-dividend?(2) - Answer-This is the opposite of ex-dividend. It refers to a stock that is trading with the dividend included. If you buy the stock before the ex-dividend date, you are entitled to receive the dividend payment, and the stock is said to be trading "cum" or "with" the dividend.
What's the difference between floating and fixed charge?(2) - Answer-A floating charge is created over a changing 2 / 3
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pool of assets, while a fixed charge is created over specific assets that cannot be sold or used without the lender's consent until the debt is fully repaid.
What are bonds issued with a fixed charge referred to as?(2) - Answer-Debenture
What is the purpose of an SPV?(2) - Answer-A legal entity is set up for a specific purpose or project to limit risk exposure and protect the interests of investors or lenders.They can hold assets, enter contracts, and raise capital independently of the sponsor.
What are covered bonds?(2) - Answer-Debt securities backed by a pool of high-quality assets, like mortgages or public sector loans. They are issued by banks and other financial institutions and are considered lower-risk investments because they are backed by assets that generate steady cash flows.
What are the different types of trustees in structured
finance transactions?(2) - Answer-- Note trustees:
Represent the interests of securities holders.
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