Certificate Course in Foreign Exchange Operations
The objective of the Certificate Course in Foreign Exchange Operations is to make the bank officials familiar with Foreign Exchange operations. It is for bank officials working in the area of Foreign Exchange for their career growth and efficiency at work. This exam is being introduced pursuant to the recommendation of a committee of RBI.
Target Audience
The Certificate Course in Foreign Exchange Operations IIBF exam is specially designed and formulated for the Members of the Indian Institute of Banking and Finance.
Recommended Knowledge and Prerequisites
The subject of this exam is Foreign Exchange Operations, thus, it involves candidates to study Foreign Trade policy, FEDAI Role and Rules, Foreign Exchange Rates and Risk Management, Code of Conduct, Ethics/ Compliance, Corporate Governance, Regulatory Requirements under FEMA for Resident/ Non-resident Individuals, Remittance Facilities under LRS, Other Remittance Facilities for Resident Indians/ others, Various foreign currency accounts in India/ abroad, Acquisition of Assets, Facilities for Non-resident Indians, etc. These are a few exam topics that are a part of the exam outline. Candidates are expected to have the foundational knowledge of the above-mentioned topic areas.
Exam Details
| Exam Name Certificate Course in Foreign Exchange Operations | Exam Code Nil |
| Exam Duration 2 Hours | Exam Format Multiple Choice |
| Exam Type Database | Number of Questions 85 Questions |
| Eligibility/Pre-Requisite NIL | Exam Fee Rs. 1000 |
| Exam Language English | Pass Score 50 and above |
For More Details See – Certificate Course in Foreign Exchange Operations FAQ
Course Outline
The Certificate Course in Foreign Exchange Operations exam covers the below-mentioned domains.
1. FEDAI Role and Rules
- Foreign Exchange Rates and Risk Management
- Code of Conduct, Ethics/ Compliance, Corporate Governance
2. Regulatory Requirements under FEMA for Resident/ Non-resident Individuals
- Remittance Facilities under LRS
- Other Remittance Facilities for Resident Indians/ others
- Various foreign currency accounts in India/ abroad
- Acquisition of Assets, Immovable properties outside India, including investments in securities abroad
- Remittance of Assets
- Facilities for Non-resident Indians – Deposits Accounts, Investments, Borrowing, etc.
3. Regulatory Requirements under FEMA for Resident/ Non-resident Entities
- Import of Goods & Services and other non-import remittance
- External commercial borrowing
- Export of goods and services
- Investments outside India
- Investments in India by non-resident Corporates/ FPIs/ Others Entities
- Establishments of LO/ BO/ PO in India by foreign entities
4. Documentary Credits & Standby Credits
- ICC guidelines pertaining to INCOTERMS 2010, URC 522
- UCP 600, eUCP version 1.1
- ISBP – ICC PUB. 745, URBO – ICC PUB. 750, URDG 758
- DOCDEX Rules – ICC PUB.872
5. Export Finance
- Various finance available by way for Pre-shipment/ Post-shipment finance in Rupees and Foreign Currency
- International Factoring, Forfaiting
- Export Credit Guarantee Corporation (ECGC)
6. Foreign Trade Policy (FTP) 2015-20
- Various policy issues with specific relevance to AD Banks with latest updation
Certificate Course in Foreign Exchange Operations Study Guide
Cultivating an open mind and practicing is the key to be more efficient and enhance your mastery. The following are some resources for the aspirants to help them prepare well for the certification exam, and hence attain their desired certifications.
Learning Resource 1 – The Official Website
The official website has sections; viz E-books, E-learning, video lectures, etc. For these candidates to study and develop an overall base for their education. One specific book this exam that is available in the E-books section is the Foreign ExchangeFacilities for Individual by M/s Macmillan India Limited in 473 (INR).
Learning Resource 2 – Books
The official Pdf provided by the official website has a list of books as study materials for the aspirants to study from and inculcate in their study sessions. The Candidates are expected to either contact the FEDAI (Foreign Exchange Dealers Association of India) office via the below mentioned phone number or email address or visit the respective branch that’s nearby to order the Certificate Course in Foreign Exchange Operations books.
FEDAI study material includes the following books (Only for the Members of the Bank)
- FEDAI Role & Rules, Foreign Exchange Rates & Risk Management.
- Regulatory Requirements under FEMA-1999 (Vol-I) and (Vol-II)
- Documentary Credits & Standby Credits.
- Export Finance.
- Foreign Trade Policy 2015-2020.
- Booklet on Forex Facilities for Resident & Non-Resident Indians.
Learning Resource 3 – Training offered by the FEDAI
If candidates want themselves to be enrolled in traditional training to be extra prepared or walk an extra mile for the exam, then they can contact FEDAI for their official training and enroll for it. FEDAI has it’s training centers in three different zones; namely, the South Zone that’s in Chennai, the North zone is in New Delhi, and the East zone at Kolkata. Candidates can choose their zone based on their preferences. Aspirants can about their training via the below mentioned email address and telephone no.
Learning Resource 4 – Online Community and platform of FEDAI
This website is everything that aspirants needs at the end of the day to complete and satisfy the study routine, here candidates can raise questions and get immediate replies, they can give quiz tests and participate in the weekly quiz. It is a platform for transformation and rehearsals.
Practise Tests
Practicing is a metal that’s carved before your jewels are set in. Certificate Course in Foreign Exchange Operations practice tests are the base that’s roughened and strengthened for a stronger foundation/favorable result. So practicing is the most “basic” mode of every exam. Candidates are always suggested to keep an open mind and keep practicing using Certificate Course in Foreign Exchange Operations practice exam tests for better results. Better results come through good practices.
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