Certified International Trade and Forex Professional Practice Exam

The Certified International Trade and Forex Professional (CITFP) certification is designed for professionals in international trade and foreign exchange (forex) markets. Earning this certification can help you stand out in the job market and potentially increase your earning potential.

Who Should Take This Exam?

• Professionals working in international trade, finance, or forex
• Individuals seeking career advancement in these fields
• Those wanting to validate their knowledge and skills in international trade and forex

Course Outline 

The Exam covers the given topics  - 

Topic 1: International Trade

Regulations & Trade Landscape:

• Understanding international trade regulations set by organizations like the WTO.
• Familiarity with top trading nations and major exported commodities.

Risk Management

• Identifying and mitigating risks associated with international trade, such as political instability, currency fluctuations, and logistics challenges.

Import & Export Processes

• Knowing the steps involved in exporting and importing goods
  
• Documentation procedures
• Payment terms (e.g., Letters of Credit)
• Incoterms (international commercial terms)
• Financing options (e.g., export credit agencies)

Government Support:

• Awareness of government export assistance programs available to businesses.
  

Order Processing:

• Understanding how to process an export order
  
• Examining and confirming the order
• Obtaining central excise clearance (if applicable)
• Pre-shipment inspection
• Appointing clearing and forwarding agents
• Arranging transportation to the port of shipment
• Completing port formalities and customs clearance
• Obtaining certificates of origin and shipment advice
• Presenting documents to banks
• Claiming export incentives

Topic 2: Forex

Fundamentals:

• Grasping the basic concepts of foreign exchange
  
• Exchange rates (spot, forward, cross rates)
• Primary and counter currencies
• Market participants (market makers, market takers)
• Bid/offer rates and the middle rate
• Factors affecting exchange rate fluctuations

Market Structure:

• Understanding the structure and different segments of the forex market, including its over-the-counter (OTC) nature.

Forex Risks:

• Identifying and managing foreign exchange risks
• Transaction exposure
• Translation exposure
• Economic exposure

Specific Currency Markets:

• Having knowledge of currency markets, particularly those relevant to your region (e.g., Currency Markets in India).