CA Foundation · Paper 4 · 75 Questions · 3 Levels
Direct recall: definition of monetary policy, three components of framework, objectives, CRR vs SLR, repo rate, reverse repo, MSF, bank rate, OMO, LAF, MPC basics, inflation targeting, easing vs tightening.
Applied: transmission channels (saving, cash-flow, asset price, exchange rate), rate calculations (MSF = Repo+1, Reverse Repo = Repo-1), qualitative tools, MSS, inflation target bands, MPC composition, MPFA.
ICAI exam-style: statement analysis, transmission mechanism scenarios, quantitative vs qualitative tool distinction, failure of inflation targeting conditions, LAF corridor logic, exchange rate channel in open economy, combined scenario questions.
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