ROC-A Exam case studies
ROC-A Exam · Put your knowledge to work in context.
The ROC-A Exam is a multiple-choice certification assessment for professionals working in regulated securities and capital-markets roles. It is aimed at candidates who need a working command of how markets are supervised, how instruments are priced and traded, and how client-facing conduct obligations are applied in practice. The syllabus is organised into six domains: the regulatory framework and market structure; equity products and trading mechanics; fixed income and money market instruments; derivatives and structured products; order handling, best execution and client obligations; and market conduct, ethics and compliance. Questions test applied judgement rather than isolated definitions, so candidates should expect scenarios that combine a rule with a trading or advisory decision. The ROC-A Exam case studies are 5 cases and about 2,650 words.
1Dark Pool Execution and Disclosure
A broker-dealer operates a dark pool for equity trading. In Q3, the pool executed 12 million shares.
523 words, about 3 min2Fixed Income Markup Disclosure
A client purchases a corporate bond from a dealer at a price of 102.5. The dealer's cost for the bond was 100.
513 words, about 3 min3Options Suitability and Disclosure
A registered representative recommends a complex options strategy (a collar) to a retail client with a moderate risk tolerance and limited options experience. The strategy involves buying a put and selling a call on a stock the client owns.
540 words, about 3 min4Insider Trading and Information Barriers
An investment banker at a firm learns that a client is about to announce a merger. The banker mentions the deal to a colleague in the research department, saying 'you'll want to cover this stock.' The research analyst then purchases shares of the target company for her personal account.
507 words, about 3 min5Order Handling and Best Execution
A retail client places a market order to buy 10,000 shares of a thinly traded stock. The firm's order handling procedures allow the trading desk to route orders to a specific exchange that pays the firm for order flow.
567 words, about 3 min