Trade Finance Officer

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Trade Finance Officer Interview Questions and Answers

Updated 16 Dec 2024

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Q1. What are the different MT codes used in the SWIFT messaging system?

Ans.

MT codes are used in the SWIFT messaging system to categorize different types of messages.

  • MT 700 - Issue of a Documentary Credit

  • MT 710 - Advice of a Documentary Credit

  • MT 740 - Authorisation to Reimburse

  • MT 799 - Free Format Message

Q2. What is SWIFT, and how does it function in financial transactions?

Ans.

SWIFT is a messaging network used by financial institutions to securely and quickly communicate information for international transactions.

  • SWIFT stands for Society for Worldwide Interbank Financial Telecommunication.

  • It provides a secure messaging platform for financial institutions to communicate information such as payment instructions, confirmations, and statements.

  • SWIFT codes are unique identifiers assigned to each financial institution that is part of the network.

  • It enabl...read more

Q3. What is Bg, Lc?

Ans.

Bg stands for Bank Guarantee and Lc stands for Letter of Credit.

  • Bank Guarantee (Bg) is a commitment by a bank to pay a specified amount to a beneficiary if the applicant fails to fulfill their obligations.

  • Letter of Credit (Lc) is a financial instrument issued by a bank on behalf of a buyer, guaranteeing payment to the seller upon meeting certain conditions.

  • Bg and Lc are commonly used in international trade to provide assurance to parties involved in transactions.

  • Bg and Lc hel...read more

Trade Finance Officer Jobs

Trade Finance Officer 2-5 years
Federal Operations And Services
3.4
₹ 3 L/yr - ₹ 6 L/yr
Kolkata
Trade Finance Officer 2-5 years
Federal Operations And Services
3.4
₹ 4 L/yr - ₹ 7 L/yr
Navi Mumbai
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