The IIBF Certificate Course on Foreign Exchange Operations exam was created specifically for members of Indian Institute of Banking and Finance. FEDAI was established in 1958 as an independent regulator for Indian banks that deal in foreign currency in India. It was also known as Authorised Dealers ADs. It is incorporated under Section 25 of 1956’s Companies Act.
Its main activities include the development and implementation of rules that govern interbank foreign exchange transactions among banks in the presence the public. They also work closely with the RBI to reform the forex market and liaison with them. Let’s now look at the different methods you can pass the Certificate Course in Foreign Exchange Operation Exam!
About the Certificate Course in Foreign Exchange Operations Exam
The Certificate Course in Foreign Exchange Operations is designed to familiarize bank officials with foreign currency operations. This course is for bank employees who work in the Foreign Exchange department. It will help them to improve their career prospects and their efficiency at work. An RBI committee recommended that this exam be implemented.
Recommended Knowledge – This exam examines Foreign Exchange Operations. Candidates must study Foreign Trade Policy and FEDAI Role Rules, Foreign Exchange Rates & Risk Management, Code of Ethics/ Compliance, Corporate Governance, Regulatory requirements under FEMA for Resident/Non-resident Individuals. Remittance Facilities under LRS and Other Remittance Facilities For Resident Indians/ Others. Acquisition of a Foreign currency Account, Acquisition of Foreign Currency.
Now that you are familiar with the exam, let’s move on to the step-by-step guide to passing the exam.
How to pass the Certificate Course In Foreign Exchange Operations Exam
Let’s summarize: There is no one-size-fits all study strategy. Every person learns differently and each person has different levels of experience with the material. These essential Certificate Course in Foreign Exchange Operations Exam study points are available to everyone. Let’s start with the strategy.
Step 1 – Learn about the Foreign Exchange Operations Exam syllabus
The Certificate Course in Foreign Exchange Operationsexam covers all the above-mentioned areas.
A. FEDAI Role & Rules
Foreign Exchange Rates and Risk Management
Code of Conduct, Ethics/ Compliance and Corporate Governance are also available.
B. B.
LRS Remittance Facility
Also, see Other Remittance Options for Resident Indians/ other
Further, there are a variety of foreign currency accounts available in India/ abroad
Furthermore, Acquisition of Assets, Immovable Properties Outside India, including investments into securities abroad
Also, Remittances of Assets
Further, facilities for non-resident Indians – Deposits accounts, Investments and Borrowing.
C. FEMA Regulatory Requirements for Resident/Non-resident Entities
Import of Goods & Services, and other non-import remittance
Also, External commercial borrowing
Further, export of goods and services
Further, there are investments outside India
Also, Indian Investments by Non-resident Corporates/ FPIs/ Other Entities
Further, foreign entities can establish LO/BO/PO in India
D. Documentary Credits and Standby Credits
INCOTERMS 2010, URC 522, Guidelines of the ICC
Also, UCP 600, eUCP Version 1.1
Further, ISBP – ICC PUB. 745, URBO – ICC PUB. 750, URDG758
moreover, DOCDEX Rules – ICC PUB.872
E. Export Finance
There are many financing options available for Pre-shipment/Post-shipment finance in Rupees or Foreign Currency.
International Factoring, Forfaiting
Export Credit Guarantee Corporation (ECGC), furthermore
F. Foreign Trade Policy (FTP) 2015-20
The latest updates on various policy issues that are relevant to AD Banks