CA Foundation · Paper 4 · 75 Questions · 3 Levels
Direct recall: exchange rate definition, 4 types of foreign currency transactions, 3 exchange rate systems (free float, managed float, fixed), advantages of fixed vs floating regimes, direct and indirect quotes, spot vs forward rates, vehicle currency, appreciation vs depreciation basics, devaluation vs revaluation.
Applied: nominal vs real exchange rate formula and calculation, REER meaning, forex market players (active vs passive, market makers), demand and supply drivers for foreign currency, forward premium vs discount, managed float mechanics, impact of depreciation on exports/imports/inflation/ECBs/government debt, cross rates.
Analytical: Statement I/II type, crowding-out effect, dual economy, commodity terms of trade, off-shoring, profit repatriation BOP impact, regional disparity, sovereignty risk, FDI costs vs benefits in India context, performance requirements, real-world Indian company scenarios (Tata, Wipro, Reliance, ONGC).
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