Converting a number into IEEE floating point format

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I have the number 1 00111 010 where there is one signed bit, 5 bits for exp and 3 for frac. I got that the value of it is -1/1024 but I'm not sure if that's right. I also need to get the format B of the representation where there is one signed bit, 4 exp bits, and 4 frac bits

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As the "IEEE" hints at the usual normalization, you have to add the leading $1$ to the mantissa. Your number is $$ (-1)^1·2^{7-15}·(1.010)_2 $$