Payments Quiz – Basics 2

1)

Billy, a resident of Italy, wants to pay the equivalent of EUR 100,00 in GBP to Cherry in the United Kingdom. Please refer to the following details.

• The exchange rate is 1 EUR for 0,6 GBP
• Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,00)
• Transaction charges on the Receiver's side are GBP 6,00 (=EUR 10,00)
• Field 71A is OUR
• Field 71G is GBP6

What is the value of F32A for the aforementioned transaction?

2)

Billy, a resident of Italy, wants to pay the equivalent of EUR 100,00 in GBP to Cherry in the United Kingdom. Please refer the following details.

• The exchange rate is 1 EUR for 0,6 GBP
• Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,00)
• Transaction charges on the Receiver's side are GBP 6,00 (=EUR 10,00)
• Field 71A is OUR.                                                                              

Question: What is the value of F33B for the aforementioned transaction?

3) Which among the following is an instant low-value payment system?

4) Which of the following payment schemes IS/ARE Gross Settlement System(s)?

5) Which of the following statements IS/ARE TRUE?

6) Map the following use cases with the most appropriate Domestic payment scheme in the UK.

A: Time-critical irrevocable high value payments            1. BACS

B: Payrolls, Pensions and Benefits                                       2. FPS

C: Bill payments & Standing orders (Recurring)               3. CHAPS

7) In MX messages Bank will be referred as –

8) What is the amount of the transfer?

{1:F01CITIUS33AXXX0070970817} {2:O1031036160721BARCGB22BXXX00739698421607211136N}

{3:{113:URGT}{108:INTLPMTS}{121:5798a701-effe-43e5-8d14-eec27ea3d8ec}}

{4:

:20:SN12345678901234

:23B:CRED

:32A:160721USD250,00

:50K:/123456789

SUMIT DESAI

:52A:BARCGB22XXX

:57A:CITIUS33XXX

:59:/987654321

RENU PRAKASH

7TH AVENUE

NEW YORK CITY

NY USA

:71A:OUR

-}

9) What is the value date of this transfer message?

{1:F01CITIUS33AXXX0070970817} {2:O1031036160721BARCGB22BXXX00739698421607211136N}

{3:{113:URGT}{108:INTLPMTS}{121:5798a701-effe-43e5-8d14-eec27ea3d8ec}}

{4:

:20:SN12345678901234

:23B:CRED

:32A:160721USD250,00

:50K:/123456789

SUMIT DESAI

:52A:BARCGB22XXX

:57A:CITIUS33XXX

:59:/987654321

RENU PRAKASH

7TH AVENUE

NEW YORK CITY

NY USA

:71A:OUR

-}

10) Who is the Sender of the following SWIFT message?

{1:F01CITIUS33AXXX0070970817} {2:O1031036160721BARCGB22BXXX00739698421607211136N}

{3:{113:URGT}{108:INTLPMTS}{121:5798a701-effe-43e5-8d14-eec27ea3d8ec}}

{4:

:20:SN12345678901234

:23B:CRED

:32A:160721USD250,00

:50K:/123456789

SUMIT DESAI

:52A:BARCGB22XXX

:57A:CITIUS33XXX

:59:/987654321

RENU PRAKASH

7TH AVENUE

NEW YORK CITY

NY USA

:71A:OUR

-}

11) Camt.054 is equivalent to

12) The co-existence of MT and MX messages (CBPR+), as decided as of September 2021, will be till-

13) You work in the payments department of Bank A, India. Your bank provides payment management service to Reliance Industries Ltd. (RIL). You receive an email from RIL to send $10,000 from its account held at Bank B, USA to a beneficiary in USA who has his account with Bank C, USA.

Question: What type of SWIFT MT message should you (Bank A) send to Bank B?

14) You work in the payments department of Bank A, India. Your bank provides payment management service to Reliance Industries Ltd. (RIL). You receive an email from RIL to send $10,000 from its account held at Bank B, USA to a beneficiary in USA who has his account with Bank C, USA.

Question: What type of SWIFT MT message can Bank B send to Bank C?

15) You work in the payments department of Bank A, India. Your bank provides payment management service to Reliance Industries Ltd. (RIL). On a particular day, there have been a lot of transactions in RIL’s account held at Bank B. Bank A requests a consolidated statement of all those transactions. Bank B furnishes all the transaction details of RIL to Bank A by sending a message of which type?