Study Export Import Procedures and Documentation Online MCQ Practice Set for your academic course and prepare for your exam and online assignments. You can give online FREE Quiz and test your knowledge on OMCQ portal.
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Question: “Services” include all the___tradable services covered under the General Agreement onTrade in Services where payments for such services are received in free foreign exchange
A. 161
B. 150
C. 139
D. none
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Question: 1st incoterms were published in:
A. 1936
B. 1954
C. 2000
D. 2012
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Question: A company of the US has excess products that it does not want to sell into the US market because it will bring down the domestic price and instead sells it at another country at below the cost of production. What is this called?
A. Countervailing
B. International trade
C. Dumping
D. none
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Question: A Most Favored nation status doesn’t necessarily refer to
A. Same and equal economic treatment
B. Non-discriminatory treatment
C. Same tariff rates applicable
D. Uniform civil code
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Question: A proforma invoice contains all the particulars as a commercial invoice, but it is Distinguished from the latter as it is not___
A. Valid
B. Evidence of sale
C. tender for sale contract
D. none
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Question: A SEZ cannot be established for
A. manufacture of goods
B. rendering of services
C. functioning as Free Trade and Warehousing Zone
D. none of the above
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Question: A___contains the details of the goods shipped and is sworn as being correct in all respects by the exporter before the Consul of the importing country stationed in the exporting country.
A. Performa invoice
B. Consular invoice
C. Commercial Invoice
D. none
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Question: Advance license facility enables___to import inputs without payment of customduty.
A. importer
B. exporter
C. all
D. none
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Question: Agreement on Textile and clothing was set out as a transitional Process on 01 Jan 1995 for the ultimate removal of quotas by WTO by 01 Jan 2007.
A. True
B. False
C. all
D. none
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Question: All imported goods shall be subject to domestic laws, rules, orders, regulations.
A. True
B. False
C. Can’t say
D. none
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Question: All of the following are fundamental factors used by the countries to determine the customs duties to be paid for importing goods except
A. Country of origin
B. Classification
C. Valuation
D. Markings
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Question: All of the following are fundamental factors uses by the countries to determine the customs duties to be paid for importing products except
A. Country of origin
B. Classification
C. Valuation
D. Markings
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Question: An airway bill is prepared in
A. two copies
B. three copies
C. four copies
D. five copies
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Question: An application for customs clearance of import cargo is
A. Bill of lading
B. Bill of exchange
C. Shipping bill
D. Bill of Entry
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Question: An EPCG License holder may source capital goods from domestic leasing company.
A. True
B. False
C. Can’t say
D. none
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Question: An important feature of Export License under which certain goods can be imported only by designated agencies. For an example, an item like gold, in bulk, can be imported only by specified banks like SBI and some foreign banks or designated agencies.
A. Canalization
B. Cannibalization
C. Status Holders
D. None of the above
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Question: An OBU set up in SEZ by a bank in India is subject to
A. No Capital Adequacy Norms
B. No prudential Accounting Norms
C. No CRR/SLR stipulation of RBI
D. No restrictions from Govt of India
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Question: Any person applying for any License of benefit or concession under the foreign Trade Policy will be required to furnish:
A. Registration cum Membership Certificate (RCMC)
B. Registration cum Membership Certificate (RCMC)
C. Certificate of Origin
D. None of the above
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Question: ___are also the registering authorities under the Export Import Policy
A. Export Promotion Councils
B. Commodity Boards
C. all
D. none
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Question: As a part of WTO guidelines, Agreement on Agriculture (AOA) doesn’t consider
A. Direct payments to farmers are permitted
B. Indirect assistance and support to farmers including R & D support by govt. are not permitted
C. Domestic policies which directly effect on production and trade have to be cut back
D. Least developed countries do not need to make any cuts
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