Korea FX Specialist Type II study guide
Korea FX Specialist Type II · Work through your exam, one topic at a time.
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 Korea FX Specialist Type II study guide has 6 sections and about 1,934 words.
01Foreign Exchange Market Fundamentals and Exchange Rate Mechanics
This domain tests how KRW rates are quoted, how spot and forward prices are derived, and how the market average rate feeds customer pricing. Expect calculation items as well as conceptual ones on market structure.
333 words, about 2 min02Foreign Exchange Regulations and Regulatory Framework (Foreign Exchange Transactions Act)
This domain tests the Foreign Exchange Transactions Act (외국환거래법), its Enforcement Decree, and the Foreign Exchange Transaction Regulations. Items ask who is a resident, whether a transaction is current or capital, and whether it needs reporting, approval, or only bank verification.
353 words, about 2 min03Foreign Currency Deposits and Domestic Foreign Currency Business
Foreign currency deposits and domestic foreign currency business cover how banks take, lend, and convert foreign currency inside Korea. The exam tests product rules, conversion pricing, and the distinction between resident and non-resident accounts.
342 words, about 2 min04International Trade Settlement and Trade Finance
Trade settlement items test documentary credits under UCP 600, documentary collections under URC 522, Incoterms 2020, and the financing products built on them. The exam favors document-compliance scenarios and risk-transfer questions.
311 words, about 2 min05Foreign Exchange Dealing, Derivatives, and Risk Management
Dealing and derivatives items test pricing, hedging, position management, and the risk taxonomy for a foreign exchange bank. Expect both conceptual questions and simple payoff or hedge calculations.
310 words, about 2 min06International Payments, Remittances, and Foreign Currency Services for Individuals
Individual and payment items test remittance channels, the individual foreign exchange allowances, and the documentation a bank must see. Questions often turn on the annual limit and on prohibited structuring.
285 words, about 1 min