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Friends, Updating here the recollected questions from Dec 2017 Exams. Wish you all the very best for your exam.
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Which country exchange is about to start once Indian market is about to close?
New York
London
Tokyo
Singapore
Limit for making a foreign remittance by way of gift?
5000$
10000$
50000₹
500000₹
What type of account can a foreigner open in India?
NRO
DDA
SSNR
NRE
Cancellation of forward agreement is done at?
Same TT rate
Opposite TT
TT sell
TT BUY
who decide interest rate for new deposite
fedai
RBI
bank board
interest rate on expiry credit link to
mibor
libor
bplr
mclr
nro ac operation
jointly
either or survivor
format or survivor
all of them
A customer booked $200000 at 64.5
He cancelled it on 8/6/15.
Dollar rate was 68.45/47.
Margin was .2%
How mach amount will b credited or debited from customer account
Foreigner travelling to india can open which account?
1. nro
2. dda
3. rfc
4. None of the above
what if LC amount is 25000 and export bill is 25500?
+/- 5 % tolerance allowed
Discrepancy
And some options
If ABC bank issued LC from US , DEF bank advised it in India.. GHI bank negotiate with exporters document in line with LC.
Now ABC bankrupted before documents are recieved.
What GHI should do now?
Normal transit period is calculated from when ?
case study on LC liability of concerning bank when issuing bank liquidate before receipt of document under LC,wether variation is allowed in LC amnt without mention any word like about or approximate, incoterm CIF and other 2 question was easy
one 5 question about provisioning norms that was easy
one question is auditors declair an loan unsecured when realisable security value is less than 10,20,50,100% .
one case study on repo that is difficult
one case study on hair cut four exposure in table and four collatral maturity mismatch is there but some mistake also there ya fr bn Ni thi jldi me
one case study is also from deviation but one question is little mistake ya fr se ye question samajh me Ni aa rha tha one case study from sensitive asset liability but there is four question and same two was easy and two I can't solve
Numerical on LC
Numerical on Mod duration
Numerical on SD Mean Varience
Numerical on foreign exchange cancelation forward contact
NRE a/c credits
Foreigner can open which a/c - NRO, SNRR
Repatriation from NRO in a financial year
NRE nominations right to operate
Invoice used in LC as___ documents
In nre a/c the power of attorney holder has the authority to Use balance to_
a. Remit forex for use of ac holder
b. For sending gift to abroad
c. Withdraw for local use
d. Remit to any other person......
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