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Foreign Exchange Series :: Assignment - 17


1.        Recently SBI bank has entered into an agreement with which of the organization for paying out remittances into India?

a)   Visa International                   b)         Tata Consultancy
c)   India Post                                d)         Westren Union Financial services

1.      As per RBI guidelines stipulated for Money Transfer Services, maximum limit per transaction is--------

a) INR 100000                              b)         INR 200000
c) INR 120000(USD 2500)          d)         Unlimited

2.      At the end side who is responsible for ensuring compliance under Money Transfer Services guidelines and Anti Money lundering measures?

a)   RBI                                         b)         Sender of money
c)   WU                                         d)         Receiver of money

3.      As per requirement of WU, beneficiary is required to submit which of the following documents as proof of identity?

a)      Driving license/Pass Port/Army Card /Voter I card/PAN Card        
b)      Student I card issued by Govt. school/College
c)      Bank Pass Book with Photograph
d)     Any one of  the above

4.      Identification under WUMTS is acceptable only if------

a)      It satisfies KYC norms
b)      They have photographs
c)      They carry  Govt. Attestation
d)     All the above

5.      MTCN (Money Transfer Control Number) consists of-----

a)   5 digit number                         b) 5 character alpha numeric number 
c)   10 digit number                       d) 10 character alpha numeric number           
6.      The arrangement under WUMTS is available at----

a)      All the branches
b)      Identified branches on core banking solution
c)      50  branches each in Banglore, Kerla, Chandigarh & Hyderabad circles
d)     b & c

7.      Our bank has has entered into agreement with WU as a -----
a)      Representative of WU                       
b)      Partner of WU
c)      Sub Representative of India Post
                  d)  Sub Representative of M/S Kuoni Travel (India) Pvt. Ltd.

8.      “ To receive money “ form to be filled by beneficiary under the scheme broadly contains which of the following detail?

a)      Sender & Receivers name, address,telephone no.
b)      Approximate amount of remittance & country from which the remittance is expected
c)      10 digit system generated MTCN provided by WU to the remitter
d)     All the above

9.      Merchant Exports crossed $100bn to touch--------- bn in the financial year 2006

a) $ 101                             b) $ 105
c) $ 111                             d) $ 110

10.  Imports touched ________ during the year 2005-2006?

a) $ 110 bn                        b) $ 140 bn
c) $ 150 bn                        d) $ 160 bn

11.  Annual supplement of  Foreign Trade Policy for 2006-2007 unveiled sops for which of the following  sectors?

 a) Rural                                                    b) Gems & Jewellery
c) Automobiles/ Services & Aviation       d) All

12.  Food supplies to international flights will be treated as -----

a) Domestic sales                          b) Exports
c) Deemed Exports                       d) None of the above

13.  Oil Imports of our country during the financial year 2005-2006 are-------

 a) $ 43 bn                         b) $ 50 bn
 c) $ 53 bn                         d) $ 40 bn

14.  Targets for Exports for the year 2006-2007 have been fixed at around------

a) $ 120 bn                                    b) $ 110 bn
c) $ 115 bn                                    d) $ 125 bn


1    d          2          c          3          c          4          d          5          b
6    c          7          c          8          d          9          d          10        a
11  b          12        d          13        b          14        a          15        a

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