1.

A telegraphic transfer has reached your bank which is a gift from

your close relative abroad.
The exchange rate which will be applied in this case is :
a) TT selling rate
b) Bill buying rate
c) TT buying rate
d) None of the above

2. You have received a Demand Draft for USD 1000/- from your
brother staying abroad. The two way direct quote is 70.30/50.
How much amount is payable to you?

3. You are in need of a Demand Draft for Euro 100. If exchange

rate is 79.65 / 79.25 what will be total rupee amount to be
payable by you?

4. You had taken a Demand Draft for USD 1000/- from your bank
but you want to cancel the same and receive Indian Rupees.
The rate applicable is :

a) TT buying rate
b) TT selling rate
c) Bill selling rate
d) Bill buying rate

5. A bank has quoted the following rates :

Buying Rates Selling Rates

------------------------------- ------------------------
TT Bills TT Bills
40.10 40.00 40.40 40.50

Pick up appropriate rate for the following transactions :

a) Export bill to be purchased by the bank

b) Payment of a draft issued by Bank’s New York Branch where
bank’s Nostro account is maintained
c) Inward Foreign Bill under collection received by the bank on
behalf of an importer customer
d) Export collection bill sent from India earlier, payment made
by the foreign importer and amount received by the foreign
bank/branch
e) Remittance to U.S. representing gift
6. An authorized dealer receives a TT from its correspondent bank
for credit to the account of its customer. The exchange rate to
be applied is ________________

7. A customer brings a DD for US $1000 drawn by Citi Bank, New

York drawn on your branch & requests you to give credit to his
account. You will apply ___________

8. Mr. Shah deposits his personal cheque for GBP 1000 to be

credited to his Savings account. The rate to be applied is
_______________________

9. For retiring an import bill received on collection basis with an

advice to remit the proceeds by TT, which rate will be applied?

10. Your exporter customer presents a bill for EURO 50,000. The bill
is drawn on Berlin. What rate you will apply for immediate credit
to the party’s account?

11. Your exporter customer wants to sell you immediately GBP

10,000 being proceeds of the export bill realized through your
bank. You will apply _________ rate.

12. Your customer Mr.Kanoria wants to buy a DD for GBP 100

favouring “Weekly London” towards annual subscription. The
rate to be applied is _________________

13. A customer who purchased a DD for GBP 100 wants to cancel

the same and credit the proceeds to his account. The rate to be
applied is _____________

14. An export bill for US $ 10000 purchased by your branch

remains overdue beyond due date. You want to reverse the item
from purchase portfolio to overdue bills. The rate to be applied
is ____________________