MCQOPTIONS
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MCQOPTIONS
This section includes 235 Mcqs, each offering curated multiple-choice questions to sharpen your Vhdl knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
For setting up a manufacturing, trading or service units in SEZ, ------------ copies of consolidated application & project proposal in the format prescribed at 'Form F' of the SEZ Rules, 2006 to be submitted to the Development Commissioner (DC) of the SEZ. |
| A. | 10 |
| B. | 05 |
| C. | 50 |
| D. | All above |
| Answer» C. 50 | |
| 2. |
GSP and certificate of origin are one and the same. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» C. all | |
| 3. |
If a country is having more exports than imports in value terms, it can be said that the country is having |
| A. | Deficit under BOP |
| B. | Deficit under BOT |
| C. | Surplus under BOT |
| D. | Surplus under BOP |
| Answer» E. | |
| 4. |
Eligible exporters shall be issued rewards in the form of duty credit scrips based on thenet foreign exchange earned |
| A. | SEIS |
| B. | MEIS |
| C. | Both |
| D. | none |
| Answer» D. none | |
| 5. |
While submitting an application form for IEC number, an applicant is required to submit his |
| A. | Current Bank Account number. |
| B. | and Bankers Certificate |
| C. | PAN account number |
| D. | All above |
| Answer» E. | |
| 6. |
Which is India's first mega coastal economic zone (CEZ)? |
| A. | Vizag Port |
| B. | Chennai Port |
| C. | Jawaharlal Nehru Port |
| D. | Indira Gandhi Port |
| Answer» D. Indira Gandhi Port | |
| 7. |
Export Promotion Capital Goods Scheme allows import of capital goodsFree of import duty |
| A. | With concessional duty of 5 per cent with no export obligation |
| B. | With concessional duty of 5 per cent with export obligation 8 times the duty saved |
| C. | With concessional duty of 5 per cent with export obligation 8 times the import made |
| D. | none |
| Answer» D. none | |
| 8. |
-----------have now been authorized to issue licences for import of sports weapons by ‘renowned shooters’, on the basis of NOC from the Ministry of Sports & Youth Affairs |
| A. | Regional Authorities |
| B. | DGFT |
| C. | all |
| D. | none |
| Answer» B. DGFT | |
| 9. |
DGFT may issue Advanced License, where SION does not exists, based on self declaration, based on :- |
| A. | Undertaking by the applicant , Final adjustments as per adhoc SION , Adhoc norms fixed category |
| B. | Final adjustments as per adhoc SION , Adhoc norms fixed category , Track record of exporter |
| C. | None of the above |
| D. | Can’t say |
| Answer» B. Final adjustments as per adhoc SION , Adhoc norms fixed category , Track record of exporter | |
| 10. |
Commodity Boards act as an interface between international agencies like etc |
| A. | ITC |
| B. | FAO |
| C. | Both |
| D. | none |
| Answer» D. none | |
| 11. |
Reserve Bank of India administers -----------through commercial banks licensed by it as 6 authorized dealers in foreign exchange |
| A. | GST |
| B. | FEMA |
| C. | FERA |
| D. | none |
| Answer» C. FERA | |
| 12. |
INCO termswere given by |
| A. | International Chamber of Commerce |
| B. | Director General of Foreign Trade |
| C. | Ministry of Commerce |
| D. | none |
| Answer» B. Director General of Foreign Trade | |
| 13. |
The area where the goods are permitted to be imported and re-exported without any processingin the same form is called |
| A. | Export Processing Zone |
| B. | Free Trade Zone |
| C. | Special Economic Zone |
| D. | Agri Export Zone |
| Answer» C. Special Economic Zone | |
| 14. |
Who heads the department of import export in India? |
| A. | GOI |
| B. | DGFT |
| C. | WTO |
| D. | None of the above |
| Answer» C. WTO | |
| 15. |
The IEC number is issued by the |
| A. | Central Government |
| B. | State Government |
| C. | Director General of Foreign trade |
| D. | Ministry of commerce |
| Answer» D. Ministry of commerce | |
| 16. |
General Agreement on Trade in Services will not be applicable to |
| A. | Services supplied from one country to another – cross border supply |
| B. | Transaction of goods across the border – Export Import |
| C. | Individuals traveling from own country to supply services in another – presence of natural persons. |
| D. | Consumers/firms making use of a service in another country – consumption abroad. |
| Answer» C. Individuals traveling from own country to supply services in another – presence of natural persons. | |
| 17. |
For EOU units Disposal of used packing material will be allowed on payment of duty on |
| A. | Transaction Value |
| B. | CIF value |
| C. | None of the above |
| D. | Can’t say |
| Answer» B. CIF value | |
| 18. |
The prevailing Pre shipment Interest rate is-------------. |
| A. | 14% |
| B. | 18% |
| C. | 10% |
| D. | none |
| Answer» B. 18% | |
| 19. |
The full form of EPZ: |
| A. | Exempted Processing Zones |
| B. | Export Promotion Zone |
| C. | Export Processing Zone |
| D. | None of the above |
| Answer» C. Export Processing Zone | |
| 20. |
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 |
| Answer» C. all | |
| 21. |
Conversion of Shipping Bills from one Export Promotion scheme to other scheme canbe made within ---------- |
| A. | three months |
| B. | two months |
| C. | four months |
| D. | none |
| Answer» B. two months | |
| 22. |
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 |
| Answer» D. none | |
| 23. |
Insurance for domestic business is same as for exports. |
| A. | Yes |
| B. | No |
| C. | Can’t say |
| D. | all |
| Answer» B. No | |
| 24. |
What is the advantage of letter of credit? |
| A. | Evens risk between buyer and seller |
| B. | Strengthens the role of advising and confirming bank |
| C. | Instant payment |
| D. | none |
| Answer» B. Strengthens the role of advising and confirming bank | |
| 25. |
Power distance Index (PDI) of 77 compared to a world average of 56.5 for India indicates |
| A. | High level of inequality of power and wealth within the society |
| B. | Low level of inequality of power and wealth within the society |
| C. | High level of Political corruption |
| D. | Low level of Human development Index |
| Answer» B. Low level of inequality of power and wealth within the society | |
| 26. |
The Indian Government unveiled the new Foreign Trade Policy 2015-20 on _____. |
| A. | 30th Mar 2015 |
| B. | 31st Mar 2015 |
| C. | 1st April 2015 |
| D. | 30th April 2015 |
| Answer» D. 30th April 2015 | |
| 27. |
What is the time of payment in cash in advance? |
| A. | Prior to manufacturing or shipping |
| B. | Post manufacturing or shipping |
| C. | Premium to manufacturing or shipping |
| D. | none |
| Answer» B. Post manufacturing or shipping | |
| 28. |
FTWZ is expected to address the issues of ________. |
| A. | Star Trading Houses |
| B. | Global Trading network and warehousing zone |
| C. | None of the above |
| D. | Can’t say |
| Answer» C. None of the above | |
| 29. |
Sale by EOU to SEZ units is treated as |
| A. | Physical exports |
| B. | Deemed exports |
| C. | None of the above |
| D. | Can’t say |
| Answer» B. Deemed exports | |
| 30. |
Conservation of the foreign exchange resources is the main objective of |
| A. | Exchange control Regulations |
| B. | EXIM policy |
| C. | Economic policy |
| D. | Fiscal Policy |
| Answer» B. EXIM policy | |
| 31. |
In case of Free of cost imported raw material, value addition would be computed by adding Notional Value of free of cost material to both CIF value of imports and FOB value of exports. |
| A. | True |
| B. | False |
| C. | Can’t say |
| D. | none |
| Answer» B. False | |
| 32. |
ICA helps in arranging -----------------of disputes in international trade through itsconstituent members. |
| A. | settlement |
| B. | glorification |
| C. | arbitration |
| D. | none |
| Answer» D. none | |
| 33. |
Expand DFCE |
| A. | Duty Free Certificate of Entitlement |
| B. | Duty Focus Certificate of Entitlement |
| C. | Duty Free Certificate of Export |
| D. | Duty Free Condition of Entitlement |
| Answer» B. Duty Focus Certificate of Entitlement | |
| 34. |
Unit in a technology park is not eligible for |
| A. | exemption from import duty |
| B. | exemption from quantitative restrictions |
| C. | tax exemptions |
| D. | exemptions from registration requirements |
| Answer» E. | |
| 35. |
Under what mission has the Ministry of Railways advanced target for 100% completion of installing human waste discharge free Bio-toilets in coaches to December 2018? |
| A. | Swachh India |
| B. | Swachh Aadhar |
| C. | Swachh Bharat |
| D. | Swachh Nirman |
| Answer» D. Swachh Nirman | |
| 36. |
Which interactive service, a 24hr channel has DTH provider TATA Sky launched? |
| A. | Tata Sky Cars |
| B. | Tata Sky Investments |
| C. | Tata Sky Beauty |
| D. | Tata Sky Movies |
| Answer» D. Tata Sky Movies | |
| 37. |
Which system is used for classification of export item? |
| A. | ITC (HS) |
| B. | ITM (LS) |
| C. | RCMC |
| D. | None of the above |
| Answer» B. ITM (LS) | |
| 38. |
1st incoterms were published in: |
| A. | 1936 |
| B. | 1954 |
| C. | 2000 |
| D. | 2012 |
| Answer» B. 1954 | |
| 39. |
We can sell 80 % of the produce in the DTA from an EOU. |
| A. | Yes |
| B. | No |
| C. | Can’t say |
| D. | all |
| Answer» B. No | |
| 40. |
Deemed exports is beneficial to Indian buyers because :- |
| A. | It reduces costs in supply chain management , Saves foreign exchange |
| B. | It reduces costs in supply chain management , After sales service is easier, Saves foreign exchange |
| C. | None of the above |
| D. | Can’t say |
| Answer» B. It reduces costs in supply chain management , After sales service is easier, Saves foreign exchange | |
| 41. |
There is no difference between Bill of lading and mate receipt. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» C. all | |
| 42. |
Market Access Initiatives is not available for |
| A. | conducting market studies |
| B. | participation in international trade fairs |
| C. | testing charges for engineering products |
| D. | none of the above |
| Answer» E. | |
| 43. |
An EPCG License holder may source capital goods from domestic leasing company. |
| A. | True |
| B. | False |
| C. | Can’t say |
| D. | none |
| Answer» B. False | |
| 44. |
Vernon's international product life cycle theory: |
| A. | helps explain the movement from absolute advantage to comparative advantage. |
| B. | helps explain why a product that begins as a nation export often ends up becoming an import. |
| C. | shows why the United States, surprisingly, exports relatively more laborintensive goods and imports capital-intensive goods. |
| D. | extends the concept of comparative advantage by bringing into consideration the endowment and cost of factors of production. |
| Answer» C. shows why the United States, surprisingly, exports relatively more laborintensive goods and imports capital-intensive goods. | |
| 45. |
The EXIM policy is updated every year on |
| A. | 31st December |
| B. | 31st March |
| C. | 30th September |
| D. | 1st April |
| Answer» C. 30th September | |
| 46. |
Objective of Foreign Trade Policy is to: |
| A. | Double our Share in Global Market within next 5 years |
| B. | Double our Share in Global Market within next 10 years |
| C. | None of the above |
| D. | Can’t say |
| Answer» B. Double our Share in Global Market within next 10 years | |
| 47. |
The Cabinet Committee on Economic Affairs gave its approval for removing the prohibition on the export of what type of items? |
| A. | Steel Ingots |
| B. | Textiles |
| C. | Pulses |
| D. | Onions |
| Answer» D. Onions | |
| 48. |
FERA and FEMA are one and the same |
| A. | Yes |
| B. | No |
| C. | all |
| D. | none |
| Answer» C. all | |
| 49. |
If the CIF value of the consignment imported does not exceed----------------, the relative Bill of Entry is required to be filed by the registered courier service. |
| A. | Rs.200000 |
| B. | Rs.300000 |
| C. | Rs.100000 |
| D. | all |
| Answer» D. all | |
| 50. |
RBI Governor Urjit Patel was appointed to which advisory board? |
| A. | Financial Stability Institute Advisory Board (FSAB) |
| B. | Bank of International Settlement (BIS). |
| C. | Federal Reserve (F |
| Answer» B. Bank of International Settlement (BIS). | |