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IB Teller : Quiz 1

Quiz by Glenn David McMeeking

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6 questions
Show answers
  • Q1
    What year did the present Exchange Control measures get introduced?
    1933
    2011
    1967
    1961
    30s
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  • Q2
    What is the main purpose of Exchange Control?
    Ensure timeous repatriation to SA banks of all forex & Prevent loss of forex resources
    To limit tourists to SA and to charge exchange rates
    Prevent loss of forex resources & Control SA residents from traveling abroad
    Control SA residents from traveling abroad and to limit Tourists to SA
    30s
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  • Q3
    If contravention of Regulation 22, of the Exchange Control Regulations or failure to comply with what will happen to you?
    Imprisonment of 5 years
    Both
    Fined R250 000
    30s
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  • Q4
    What regulations will you be need to be aware of when dealing with IB products and services?
    Regulation 11 and 12
    Regulation 7 and 8
    Regulation 2.4 and 2.5
    Regulation 9 and 10
    30s
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  • Q5
    Foreign Banknotes are banknotes of countries outside the Common Monetary Area (CMA). This statement is........................
    False
    True
    30s
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  • Q6
    Besides South Africa , the other countries of the CMA are:
    Lesotho, Swaziland and Mozambique
    Lesotho, Swaziland and Angola
    Lesotho, Swaziland and Zimbabwe
    Lesotho, Swaziland and Namibia
    30s
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