Canadian Securities Course (CSC) Practice Exam

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Study for the Canadian Securities Course Exam with our comprehensive practice test. Explore flashcards and multiple-choice questions, each with detailed hints and explanations. Prepare for your CSC exam with confidence!

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What functions are usually handled by the middle office in financial institutions?

Settlements and clearing
Portfolio management and trading
Compliance, accounting, audits, and legal
Marketing and sales

The correct answer is: Compliance, accounting, audits, and legal

The middle office in financial institutions is responsible for overseeing compliance, accounting, audits, and legal operations. Options A, B, and D are incorrect because they are typically handled by the front office (trading and sales) and back office (settlements and clearing) functions in financial institutions. The middle office focuses on ensuring that the organization follows laws and regulations, maintains accurate financial records, and conducts internal and external audits to ensure proper risk management and legal compliance. Additionally, the middle office is responsible for managing the organization's data and analytics, which help inform decision-making processes for trading and portfolio management in the front office. Therefore, option C is the most appropriate answer as it accurately reflects the primary functions of the middle office in financial institutions.