IIBF Trade Finance study plan

Map every article of UCP 600 to its practical function, then recite from memory the article numbers governing issuing bank obligations, examination of documents, and discrepancy handling

Draft a compliance checklist for examining a set of documents under a documentary credit, covering invoice, transport document, insurance document and certificate of origin

Distinguish between revocable and irrevocable credits, confirmed and unconfirmed credits, and available-with-any-bank versus freely negotiable credits using worked examples

Solve five document-examination scenarios where you must decide whether documents are complying, and justify each decision with a specific UCP 600 article

Compare URC 522 collections with UCP 600 credits by tabulating the roles of remitting bank, collecting bank and presenting bank, and the risk allocation in each

Explain the difference between documents against payment and documents against acceptance, and identify the point at which the collecting bank's obligations arise

Trace a full trade transaction from sales contract to settlement, labelling each document and each bank's role

Identify the key data fields on a commercial invoice, bill of lading and insurance policy that an examiner must verify against credit terms

Classify five trade documents by function: commercial, transport, insurance, financial and official

List the core Incoterms rules and state for each which party bears export clearance, main carriage, insurance and import clearance obligations

Explain how the choice of Incoterms rule changes the documents a bank will expect under a credit

Outline the FEMA framework for current-account and capital-account transactions relevant to trade, and identify which trade payments fall in each category

Identify the purpose and key fields of the Foreign Inward Remittance Certificate and the bill of entry in an export transaction

Match ten cross-border trade scenarios to the correct FEMA treatment and the supporting documents required

Explain the export declaration process on the customs side and the role of the authorised dealer bank in monitoring realisation of export proceeds

Describe the rules on set-off, write-off and extension of time for realisation of export proceeds, and identify when each is permitted

Outline the reporting obligations of an authorised dealer for trade transactions, including the purpose codes used in cross-border remittances

Explain how import payments are regulated, including advance payment, third-party payment and payment against documents

Analyse four case studies where realisation or payment timelines are breached and state the compliance action required

Distinguish a demand guarantee from a standby credit and from a surety, focusing on independence, primary versus secondary liability and documentary triggers

Explain the URDG 758 rules on presentation, examination, demand and refusal, and state the time limits involved

Draft a compliant demand under a guarantee and identify the grounds on which a bank may refuse payment, including the fraud exception

Compare the treatment of expiry, extension and force majeure under URDG 758 with the corresponding UCP 600 provisions

Classify five guarantee scenarios by type: performance, advance payment, retention, bid bond and counter-guarantee

Explain the mechanics of forfeiting and compare it with factoring, discounting and supplier credit in terms of recourse, risk transfer and cost

Identify the credit risk, country risk, documentary risk and fraud risk in a trade finance transaction and state one mitigation technique for each

Outline the role of export credit agencies, including the types of cover typically offered for political and commercial risk

Assess a trade finance proposal using a structured risk framework and recommend whether to fund it

Explain how the Basel treatment of trade finance instruments affects capital and pricing decisions for a bank

Map the core SWIFT MT messages used in trade finance (MT700, MT707, MT710, MT720, MT760, MT799) to their business function

Explain the MT-to-MX migration, including the role of ISO 20022, the structured data requirements and the timeline for trade finance messages

Compare a legacy MT field with its structured MX equivalent and identify which data elements become mandatory

Identify the operational and system changes a bank must make to send and receive structured trade messages

Trace a documentary credit lifecycle and note at each step which message is exchanged and what changes under MX

Consolidate all six domains into a single revision sheet of key rules, articles, timelines and thresholds

Complete timed practice sets across all domains and identify your three weakest areas

Re-study the weakest areas and re-test to confirm improvement

Explain each major rule in your own words without referring to notes, to test retention