CISI Global Securities Operations Past Papers: What Exists (2026)
No public past papers exist for CISI Global Securities Operations. Here's the official material that does, and where to get current, weighted 50-question mocks.
Are there past papers for CISI Global Securities Operations?
No, CISI does not publish past papers for Global Securities Operations, and previously sat papers are never released because the live bank rotates. Officially you get one specimen paper written to the live standard, plus end-of-chapter questions and a practice paper in the workbook. The exam is 50 multiple-choice questions in 60 minutes, computer based, 70% pass mark, no negative marking. Sit the specimen once, timed, late on, and use current weighted mocks for renewable practice.
- Official past papers
- None. Previously sat papers are never released and the live bank rotates
- What CISI does provide
- One official sample paper, plus end-of-chapter questions and a practice paper in the official GSO workbook
- Questions
- 50, multiple choice
- Time
- 60 minutes
- Pass mark
- 70%, no negative marking
- Qualification
- Technical unit of the Investment Operations Certificate, computer based
- Other official tools
- CISI Revision Express (paid) and the free Prometric demo of the test software
- Best substitute
- Current weighted mocks; PasskeyPrep has five 50-question, 60-minute GSO papers
Global Securities Operations candidates are usually revising around a full working day in operations, which makes the hunt for past papers understandable: you want efficient, realistic practice, not another read of the workbook. The honest answer is that CISI does not publish past papers for GSO. One sample paper exists, the workbook has its own questions, and the rest of what you will find online is unofficial and usually old.
Test yourself on IOC: Global Sec Ops
4 questions written to the current syllabus, in the format of the real paper. Pick an answer and the explanation appears. Nothing to sign up for.
Which of the following is NOT an institutional investor?
Not quite. The answer is A.
A day trader commits their own money on their own account and keeps the gain or loss, which makes them an individual investor. A pension fund, an insurance company and a unit trust are all transparent vehicles: they gather and pool the contributions of many underlying savers, obtain economies of scale and spread risk, and the returns belong to those savers.
When a central counterparty interposes itself between the parties to a trade, becoming the buyer to every seller and the seller to every buyer, this process is known as:
Not quite. The answer is C.
Novation is the substitution of the CCP into the trade so that buyer and seller each face the CCP and remain anonymous to one another. Clearing is the earlier stage at which each side's obligations are calculated and legally formalised, affirmation is the investment manager's agreement to a broker's confirmation, and positioning is ensuring cash and securities are in place for settlement day.
For how long must a firm retain its records of the custody assets it holds on behalf of clients, after those records are made?
Not quite. The answer is D.
Proper records of custody assets held on behalf of clients must be kept and retained for a period of three years after they are made. The other periods are plausible record-keeping intervals but are not the requirement for custody records.
How is interest on gilts normally paid to UK individual investors?
Not quite. The answer is C.
Gilt interest is normally paid gross, but investors may opt for net payment by applying to the gilts registrar, Computershare. The interest remains liable to income tax either way. The arrangement works in the opposite direction to the distractors: gross is the default and net is the elective option.
That is 4 of more than 10,800 questions in the PasskeyPrep bank. Chapter 1 of every exam is free, with the study notes and flashcards that go with it, and every answer is marked and explained the way these were.
The paper you are preparing for
| Qualification | Investment Operations Certificate, technical unit |
| Questions | 50, multiple choice |
| Time | 60 minutes |
| Pass mark | 70%, no negative marking |
| Format | Computer based |
The syllabus covers the plumbing of the market: industry participants, settlement, custody, corporate actions, investor services, taxation aspects and risk. Where the marks concentrate, and how to revise around a day job, is in our guide to passing Global Securities Operations.
What official material exists
One specimen paper written to the live standard, end-of-chapter questions and a practice paper in the official GSO workbook, the paid Revision Express tool, and the free Prometric demo of the test software. Sit the sample paper once, timed, late in revision. Everything official is worth doing exactly once; none of it is renewable.
Why old GSO material is a poor shortcut
Operations is the part of the syllabus the real world keeps rewriting. Settlement cycles have been shortening across major markets, and market infrastructure and regulatory detail move with them. A mock written a few years ago tests a market that no longer settles that way. Unofficial PDFs are also unverified: wrong keys and questions drafted against superseded workbook editions are common, and you have no way to tell from the document itself.
The alternative: current, weighted mock papers
PasskeyPrep gives GSO five full mock papers, each 50 questions in 60 minutes, weighted element by element like the real paper, with no overlap between papers. Questions are written from scratch against the current syllabus, answers carry full explanations, and practice mode sorts the bank by your weak elements so short sessions around work actually move your score.
Start free. Try a set of free Global Securities Operations practice questions. The first chapter of the GSO bank is free in the app.
Every GSO revision resource, in one list
- The official CISI Global Securities Operations workbook, current edition.
- The official sample paper, sat once under the clock.
- CISI Revision Express (paid) and the free Prometric CBT demo.
- PasskeyPrep: the full GSO bank, five weighted 50-question mocks, explanations and weak-spot tracking. £59 once for this paper, or £89 for all fourteen exams, for 90 days from purchase.
- Free GSO practice questions.
- Our GSO exam guide and the complete guide to passing CISI exams.
PasskeyPrep is an independent study tool and is not affiliated with, endorsed by, or accredited by the Chartered Institute for Securities & Investment. For the picture across every paper, see CISI past papers: what's actually available.
Sit a whole paper for free. The free 50-question Global Securities Operations mock exam runs to the real time limit and the published element weighting, with a score, an element breakdown and an explanation for every answer. No sign-up.
Frequently asked questions
Does CISI publish past papers for Global Securities Operations?
No. One official sample paper exists, plus the questions in the official workbook. Previously sat papers are never released and the live bank rotates.
What is the format of the CISI Global Securities Operations exam?
50 multiple-choice questions in 60 minutes, computer based, 70% pass mark, no negative marking. It is a technical unit of the Investment Operations Certificate.
How should I revise for GSO around a full-time operations job?
In short, frequent question sessions rather than long reads. Drill by element, let your weak spots surface, and keep full timed mocks for when you can protect an uninterrupted hour. Working in operations helps: tie each chapter back to the real workflow you touch.
Are the GSO PDFs floating around online safe to use?
Treat them sceptically. Settlement practice and market infrastructure have changed in recent years, and unofficial documents are unverified and usually written against old workbook editions.