Korea FX Specialist Type II
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ExploreAbout this exam
The Korea FX Specialist Type II (외환전문역 2종) is a Korean banking and foreign-exchange qualification aimed at staff who handle day-to-day FX work: branch employees processing remittances and foreign currency deposits, trade-settlement clerks checking import and export documents, and back-office staff touching exchange rates and position records. It sits below the more advanced first-grade certification, so it tests breadth of practical knowledge rather than deep dealing-room analytics. The syllabus spans six areas: how the FX market and exchange-rate quotation work; the Foreign Exchange Transactions Act and its regulatory framework; foreign currency deposits and domestic FX business; international trade settlement and trade finance; FX dealing, derivatives and risk management; and international payments and individual remittance services. Expect multiple-choice questions that mix definitions with applied scenarios, such as identifying whether a transaction needs a bank's confirmation or which document set fits a payment method. Preparation works best in two passes: first read a current Korean FX-law and trade-settlement textbook to build the regulatory vocabulary, then drill past-style questions to expose gaps in the document and procedure details. Because rules and thresholds change, always check effective dates against the official regulator and your bank's internal manual. This page is an independent study resource and is not affiliated with any examining body.
What you'll study
About Korea FX Specialist Type II preparation
What is the difference between FX Specialist Grade I and Grade II?
Grade II targets practical front-line FX work and covers the six broad domains of market basics, regulation, foreign currency deposits, trade settlement, dealing and risk, and individual payments. Grade I goes deeper into dealing, derivatives and regulatory analysis and is generally taken by staff in dedicated FX or treasury roles. Check the official body's site for the current scope of each.
How many questions are on the exam and how long does it take?
Question count and time limit are set by the administering body and can be revised between exam cycles, so no fixed figure is given here. Look up the current test schedule and question composition on the official institution's website before you plan your exam-day pacing.
What is the passing score, and what does the exam cost?
Passing criteria and registration fees are published by the official examining institution and may change by round. Rather than rely on second-hand figures, confirm the current pass mark and fee directly on the official site when you register.
Can I retake the exam if I fail, and how soon?
Retake rules, waiting periods and any limits on attempts are set by the administering body and vary by exam round. Check the official notice for the specific cycle you plan to sit, and build your study schedule assuming you may need a second attempt.
How difficult is the exam for someone new to FX?
Candidates with branch or trade-settlement experience usually find the regulation and trade-finance sections manageable. Complete beginners struggle most with document matching in trade settlement and with telling similar regulatory terms apart. Two to three months of steady study is a realistic starting assumption, adjusted for your background.
Which section should I study first?
Start with exchange-rate mechanics and the Foreign Exchange Transactions Act, because the deposit, settlement and payment sections all reuse that vocabulary. Move next to trade settlement, which carries heavy weight and rewards memorising document flows. Leave dealing, derivatives and risk management for last, since they build on the earlier material.
What are the most common reasons candidates fail?
Three recurring problems: memorising definitions without practising scenario questions, ignoring the trade-settlement document details that distinguish similar payment methods, and studying from outdated regulation summaries. FX thresholds and procedures change, so always cross-check rules against the current law text and your institution's manual.
Is the exam delivered in Korean, and are calculators allowed?
The exam is delivered in Korean, so comfort with Korean regulatory and trade terminology is essential, including Sino-Korean technical terms. Rules on permitted items such as calculators are announced by the administering body for each round; confirm them in the official exam-day guidance rather than assuming.
Does this page or site have any official connection to the exam?
No. This is an independent study resource written for candidates preparing on their own. It is not affiliated with, endorsed by, or authorised by any examining institution, regulator or bank, and official notices always take precedence over anything published here.