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Certifications like Certified International Trade and Forex Professional are the way to take your career to the new heights. They not only help you grow academically but also provides you the growth in a holistic manner. Import export business also known as international trading, are one of the hottest commercial trends of this decade and has been an integral part of our lives for a very long time. To be in business one has to be the best at it and to be the best one has to have all the knowledge pertaining to it.
Certifications prove that you are committed towards your development and growth and will prove to be an asset for the organization you are working for. One needs to have specialization in the field in order to get hired. This exam will serve your purpose and make you a preferred candidate for the job. Let us start knowing about the details of the exam and then moving on to the study guide which will ultimately help you achieve your aim.
Roles and Responsibilities
A Certified International Trade and Forex Professional is encountered with various responsibilities. Import export business also known as international trading, are one of the hottest commercial trends of this decade and has been an integral part of our lives for a very long time. Therefore, a professional is required to develop a deep understanding of the allied concepts.
Why to take this certification?
Earning Vskills International Trade and Forex Professional Certification can help candidate differentiate in today’s competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.
Who should take this certification?
This Course is intended for executives, senior executive and managers working in finance, forex or international trade domains and wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.
Benefits of Certification
- Government certification
- Certification valid for life
- Lifelong e-learning access
- Free Practice Tests
- Get tagged as ‘Vskills Certified’ On Monsterindia.com
- Get tagged as ‘Vskills Certified’ On
Shine.com
Certification Process
- Select Certification & Register
- Receive a.) Online e Learning Access (LMS) b.) Hard copy – study material
- Take exam online anywhere, anytime
- Get certified & Increase Employability
Test Details for Certified International Trade and Forex Professional
- Duration: 60 minutes
- No. of questions: 50
- Maximum marks: 50, Passing marks: 25 (50%).
- There is NO negative marking in this module.
- Online exam.
Exam Objectives
The exam revolves around the following objectives –
International Trade
- Regulations of International Trade
- Risks in International Trade
- Top Trading Nations
- Top Traded Commodities (Exports)
International Trade – WTO
- GATT rounds of negotiations
- Functions of WTO
- Principles of the trading system
Export and Import
- Export
- Advantages of Exporting
- Disadvantages of Exporting
- Ways of exporting
- Making the export decision
- Import
Starting Exports – Important steps
- Basic Requirements
- IEC Number
- Export License
- Export Samples
- Export Pricing
- Steps for successful exporting
Export Documentation
- Pre-shipment Documents
- Post Shipment Documents
- Export Documents
Payment Terms
- Payment in Advance
- Letter of Credit
- Documentary Collections
- Open Account
INCOTERMS
- Classification
- Multi Modal Transport Rules
- Sea and Inland Waterway Transport Rules
- Trade Rules
Methods of Financing Exporters
- Pre-Shipment Finance
- Post-Shipment Advance
Export Assistance
- Importance of Export Assistance
- Export Promotion Measures in India
- Eligibility for Export/Trading/Star Trading/Super Star Trading Houses
- Rendering exports price competitive
- Strengthening Export Marketing Effort
- Special Economic Zones
- Export Processing Zone /Export Oriented Units
Processing of an export order
- Nature and Format of Export Order
- Examination and Confirmation of Export Order
- Central Excise Clearance
- Pre-shipment Inspection
- Appointment of Clearing and Forwarding Agents
- Transportation of Goods to Port of Shipment
- Port Formalities and Customs Clearance
- Certificate of Origin and Shipment Advice
- Presentation of Documents to Bank
- Claiming Export Incentives
Imports
- Why Import
- Global Sourcing
- Import Requirements and Documentation
- Procedure to Import
- Import Duties
- Payment Methods
- Import Financing
- FEMA Guidelines relating to Imports
- Export Promotion Capital Goods Scheme – EPCG
- Foreign Trade Policy (2015-2020)
Forex Introduction
- What is Foreign Exchange
- Why is foreign exchange important to us?
- What is a foreign Exchange market?
- Foreign Exchange as a Financial Market
- Foreign Exchange is an OTC Market (Over The Counter)
- Market Participants
Foreign Exchange Basics
- Rates of Exchange
- Primary and Counter Currency
- Market Maker and Market Taker
- Bid/Offer Rate
- Middle Rate
- Cross Rates
- Factors affecting exchange rate fluctuations
- Major Currencies
- Fixed, Floating and Dirty Float
- Trading Terminology
Foreign Exchange Risks
- Effect of fluctuations in exchange rates: exposure and foreign exchange risk
- Exchange Rate Risk
- Interest Rate Risk
- Credit Risk
- Country Risk
- How to manage your risk
Kinds of Foreign Exchange Market
- Spot Market
- Forwards Market
- Currency Forward Swaps
- Futures Market
- Strategies using Currency Futures
- Hedging using Currency Futures
- Speculation in Currency Futures
Currency Markets in India
- Product Specification
- Uses of Currency Futures at NSE
- Membership
- Clearing, Settlement and Risk Management
Preparatory Guide for Certified International Trade and Forex Professional
Always remember that the resources that you will choose will make the difference. Clearing the exam will be easier if you choose the right set of resources. There are unlimited resources available for preparation which are available for the prescribed syllabus. Let us have a look at handful of them-
Step 1 – Review the exam objectives
The first and foremost thing before you start preparing is to get well versed with the objectives of the exam. Knowing in detail about the exam objectives will let you understand the way through which you will prepare for the exam and then help to pass that with the flying colors. This exam has the following topics as major testing domains –
- International Trade
- International Trade – WTO
- Export and Import
- Starting Exports – Important steps
- Export Documentation
- Payment Terms
- INCOTERMS
- Methods of Financing Exporters
- Export Assistance
- Processing of an export order
- Imports
- Forex Introduction
- Foreign Exchange Basics
- Foreign Exchange Risks
- Kinds of Foreign Exchange Market
- Currency Markets in India
Refer: Certified International Trade and Forex Professional Brochure
Step 2 – Refer to the books
Books are the best resources and always the first way that comes in our mind while preparing. You can choose the books as per your ease and level of understanding. There are many books that are available that can be used to clear your concepts and can provide you with insightful other topics too. This can be used to deal with the tricky part of the paper too. Some books that can be referred are –
Foreign Exchange Operations under FEMA
Foreign Exchange, International Finance And Risk Management – Including A Section On Derivatives 5th Edition
Step 3 – E-Learning and Study Materials
Learning for the exam can be fun if you have the right set of resources matching your way of studying. Vskills offers you its E-Learning Study Material to supplement your learning experience and exam preparation. This online learning material is available for a lifetime and is updated regularly. You can also get the hardcopy for this material, so, you can prefer either way in which you are comfortable.
Refer: Certified International Trade and Forex Professional Sample Chapter
Step 4 – Evaluate yourself with practice tests
Practices makes a man perfect. You can also find the problems you are facing in your strategy. We all are quite well versed with this saying and also with the truth in this. Practice papers and test series help you in identifying the loopholes in the preparation. Practicing as much as you can will help in identifying various parts of the syllabus that need more attention and that are fully prepared. This is the best way to know your level of preparation. Start practicing now!
International Trade and Forex Interview Questions
Checkout these latest online interview questions on International Trade and Forex to prepare for any job interview. The questions are created by domain experts, to help you to overcome the job interview obstacle.
