CAIIB-BFM - Mock Test- 09
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1.
What maximum period is available to the beneficiary of an LC under a letter of credit as per UCP-600, to submit the documents for negotiation:
2.
For the purpose of enabling the Authorised Dealers to make valuation of their FC positions, the valuation rates based on ongoing market rates on month end dates are provided by:
3.
A parent is remitting funds to the dependent son/daughter abroad towards education expenses. It falls under?
4.
The uniform rules for bank to bank reimbursement by ICC and set out in ICC Publication No.725 do not bind which of the following banks:
5.
A dealer in FC short sells a currency, with the expectation of buying it back later, at a cheaper rate. It is called:
6.
Risk such as country risk, operational risk and legal risk (i) cannot be quantified (ii) can be qualitatively compared (iii) can be qualitatively measured. Which of these statements are correct.
7.
In a bill of lading issued by a shipping company, no remarks regarding defective packing of goods have been made. Such bill of lading is called:
8.
Remittance of prize money, sponsorship of sports activities abroad by a person other than International/National/State level sports bodies and where the amount involved exceeds ___, are allowed by the Department of Youth Affairs & Sports, Ministry of Human Resources Development.
9.
If a pre-shipment credit is not adjusted by the exporter within ___by submission of export documents, banks are required to stop charging concessional rate of interest from ___:
10.
The forward contract with a standard size, standard maturity date governed by a set of guidelines stipulated by the concerned exchange for settlement or payment is called:
11.
The risk that the seller faces relating to non-acceptability, non-payment, quality acceptance etc. is called:
12.
When the correspondent bank offers services related to handling of outward payments, receipt of inward payments and collection, this function is covered under, which of the following:
13.
In all cases of forex remittance exceeding USD 100000, the bill of entry must be received by the AD within:
14.
The licence to operate as an authorised dealer in foreign exchange in India is issued to a bank by:
15.
If there is appreciation in the FC rates, in which of the following positions, the bank incurs loss:
16.
Exchange rates are not fixed rates and these vary from
17.
Loans can be allowed to NRIs against their term deposits in FCNR-B and NRE-RA account for the following purposes (i) personal purpose (ii) for carrying on business activities (iii) making direct investment in India on non-repatriation basis (iv) acquisition of house or flat for residential use in India (v) making investment in agricultural land or farm house or plantation activities.
18.
In FC dealings, when rates for a particular currency pair are not directly available, the price is calculated as:
19.
If a PCFC accounts is not adjusted within 360 days, it will be adjusted:
20.
Manufacturing sector companies may raise ECBs with MAMP of 1 year for ECB up to USD 50 million or its equivalent per financial year.
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