Total number of questions: 15
Competency Mark: 60%
Duration: 45 minutes
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Which of the following statements regarding the characteristics of the foreign exchange market are correct?
i. The market trades globally 24 hours a day and is centered in the key financial cities
ii. The foreign exchange market is one of the smallest financial markets.
iii. The foreign exchange market is an over-the-counter market.
iv. An active secondary market exists for foreign exchange.
South Africa follows which ONE of the following exchange rate regimes?
Which ONE of the following currencies are quoted according to the direct quotation method?
How many rand will an importer have to pay for his goods to the value of $500 000 if the importer receives a quote as follows: USD/ZAR 12.3978 / 12.4876?
Calculate the GBP/ZAR exchange rate given the following:
Please complete the sentence.
The difference between the forward foreign exchange rate and the spot foreign exchange rate reflects-
Please complete the sentence.
Weighing the economic factors that will ultimately affect the supply and demand for a particular currency is known as-
Who is responsible for exchange control regulations and the appointment of authorised dealers?
A forex financial services provider is not permitted which ONE of the following?
The mandate of a foreign financial services provider (FFSP) must make provision for which of the following?
i. Whether the investment is self-directed or managed.
ii. Whether the return is guaranteed or not
iii. Bank details of the FFSP and foreign FFSP or clearing firm.
iv. Restrictions on withdrawals of principal amounts or profits.
Which one of the following statements regarding the requirements imposed on Forex investment advisors is correct?
Calculate the forward rate for the EUR/ZAR given the following:
Which ONE of the following instruments will be most suitable for an exporter that has exported goods but will only receive the money once all the goods have been sold in the foreign market?
The re-exchange of principal at the end of currency swap is done at the-
Calculate the total gain aggregated by all parties to a comparative currency swap given the following lending rates in the respective markets.
Company | ZAR | USD |
Company A | 11.6 | 9.8 |
Company B | 11.2 | 8.6 |
The REready! Pack is designed to be used to prep for RE1 or RE5 or both.
The content for RE1 and RE5 overlaps as both exams test your practical knowledge of the FAIS Act and FICA.
The class is not a facilitator that is going to read the law out of a book for you.
Anna Bouhail contextualizes the content and creates an understanding of basic concepts related to law, the industry, and competency exams.
The class is structured to also instill compliance skills allowing the learner to answer practical questions.