Quiz · Module 4

Merchanting

8 questions. The pass mark is 6 of 8, which is 70% rounded up. You can retake it.

Question 1

A merchanting trade began on 15 Oct 2025. Which leg-gap period does the countdown use?

A) Four months B) Six calendar months C) Nine months D) 180 days

Question 2

A trade began in August 2025. Which leg-gap period applies?

A) Four months B) Six calendar months C) Fifteen months D) None

Question 3

A trade began in November 2026. How does FxLayer treat the nine-month completion period?

A) As a hard deadline B) It replaces the leg-gap rule C) It is extended to 15 months D) As information only; it applies to trades begun before 1 Oct 2026

Question 4

Which purpose codes does the demo use for the two legs?

A) S0101 and S0102 B) S1006 and P0108 C) S0108 for the import leg and P0108 for the export-leg receipt D) P0108 for both

Question 5

Which RBI-layout form is generated for the import-leg payment?

A) Form A2 B) Import remittance application C) Monthly EDF D) Form 41

Question 6

How should a merchanting trade be recorded?

A) As a separate import and export with no link B) Both legs on one record C) Export leg only D) In the services module

Question 7

You enter one AD bank for the import leg and a different one for the export leg. What happens?

A) The record is deleted B) The margin is set to zero C) The legs merge automatically D) The same-bank check shows the difference; discuss it with your AD bank

Question 8

Which periodic statement does the merchanting module produce?

A) XOS B) GSTR-1 Table 6A C) Half-yearly default statement D) Purpose-code summary only

General information. Confirm with your AD bank or CA.