Certificate Course in Foreign Exchange Operations Practice Exam

The Certificate Course in Foreign Exchange Operations, offered by the Indian Institute of Banking & Finance (IIBF), equips individuals with the necessary knowledge and skills to navigate the dynamic field of foreign exchange (forex). This comprehensive program empowers you to understand and engage in forex transactions confidently, contributing to international trade and financial activities.

Who Should Consider This Course?

This course caters to a diverse group of professionals aiming to:

• Elevate their career in banking: Bank staff working in forex departments can enhance their proficiency and unlock career advancement opportunities.
  
• Gain industry knowledge: Individuals involved in international trade, finance, or related fields can acquire valuable forex expertise.
• Prepare for professional exams: This course aligns with the FEDAI-IIBF Foreign Exchange Examination, a mandatory requirement for many forex roles.
• Expand personal understanding: Anyone interested in understanding the intricacies of forex and its impact on global markets can benefit from this program.

Roles and Responsibilities

• Executing forex transactions: Buying and selling foreign currencies on behalf of clients, adhering to regulations and risk management practices.
• Advising clients: Guiding clients on currency exchange strategies, hedging solutions, and managing forex risks.
• Managing forex positions: Monitoring market fluctuations, managing exposure, and ensuring compliance with regulatory requirements.
• Facilitating international trade: Supporting import and export activities by providing efficient forex services.
• Analyzing forex markets: Staying informed about global economic trends and their impact on foreign exchange rates.

Exam Details 

• Exam Format: 100 multiple-choice questions
• Exam Duration: 2 hours
• Exam Fee: Varies based on location and registration category
• Passing Score: 50%
• Exam Dates: Scheduled throughout the year (check IIBF website for upcoming dates)

Course Outline

I. a) FEDAI Role and Rules

b) Foreign Exchange Rates and Risk Management

c) Code of Conduct, Ethics/ Compliance, Corporate Governance

II. Regulatory Requirements under FEMA for Resident/ Non-resident Individuals

a) Remittance Facilities under LRS

b) Other Remittance Facilities for Resident Indians/ others

c) Various foreign currency accounts in India/ abroad

d) Acquisition of Assets, Immovable properties outside India, including investments in

securities abroad

e) Remittance of Assets

f) Facilities for Non-resident Indians – Deposits Accounts, Investments, Borrowing etc.

III. Regulatory Requirements under FEMA for Resident/ Non-resident Entities

a) Import of Goods & Services and other non-import remittance

b) External commercial borrowing

c) Export of goods and services

d) Investments outside India

e) Investments in India by non-resident Corporates/ FPIs/ Others Entities

f) Establishments of LO/ BO/ PO in India by foreign entities

IV. Documentary Credits & Standby Credits

a) ICC guidelines pertaining to INCOTERMS 2010, URC 522

b) UCP 600, eUCP version 1.1

c) ISBP - ICC PUB. 745, URBO - ICC PUB. 750, URDG 758

d) DOCDEX Rules - ICC PUB.872

V. Export Finance

a) Various finance available by way for Pre-shipment/ Post-shipment finance in Rupees

and Foreign Currency

b) International Factoring, Forfaiting

c) Export Credit Guarantee Corporation (ECGC)

VI. Foreign Trade Policy (FTP) 2015-20

a) Various policy issues with specific relevance to AD Banks with latest updation

Get ready to prepare for the Certificate Course in Foreign Exchange Operations Exam with the updated Practice Exams Now!