Question 1

What year did the present Exchange Control measures get introduced?

Accepted Answer

1961

Answer

1933

Answer

2011

Answer

1967

Question 2

What is the main purpose of Exchange Control?

Accepted Answer

Ensure timeous repatriation to SA banks of all forex & Prevent loss of forex resources

Answer

To limit tourists to SA and to charge exchange rates

Answer

Prevent loss of forex resources & Control SA residents from traveling abroad

Answer

Control SA residents from traveling abroad and to limit Tourists to SA

Question 3

If contravention of Regulation 22, of the Exchange Control Regulations or failure to comply with what will happen to you?

Accepted Answer

Both

Answer

Imprisonment of 5 years

Answer

Fined R250 000

Question 4

What regulations will you be need to be aware of when dealing with IB products and services?

Accepted Answer

Regulation 2.4 and 2.5

Answer

Regulation 11 and 12

Answer

Regulation 7 and 8

Answer

Regulation 9 and 10

Question 5

Foreign Banknotes are banknotes of countries outside the Common Monetary Area (CMA). This statement is........................

Accepted Answer

True

Answer

False

Question 6

Besides South  Africa , the other countries of the CMA are:

Accepted Answer

Lesotho, Swaziland and Namibia

Answer

Lesotho, Swaziland and Mozambique

Answer

Lesotho, Swaziland and Angola

Answer

Lesotho, Swaziland and Zimbabwe

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