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.
| 101. |
Under 2009-14 FTP how many new markets have been added under FMS? |
| A. | 23 |
| B. | 24 |
| C. | 25 |
| D. | 26 |
| Answer» E. | |
| 102. |
IEC Fee Requirement is Rs. |
| A. | 250/ |
| B. | 300/ |
| C. | 500/ |
| D. | none |
| Answer» B. 300/ | |
| 103. |
The export promotion scheme with the objective to neutralize the incidence of Customsduty on the import content of the export product is. |
| A. | Export Promotion Capital Goods |
| B. | Export Credit Guarantee |
| C. | Duty Free Replenishment |
| D. | Duty Entitlement Passbook |
| Answer» E. | |
| 104. |
Federation of Indian Exports organization arranges seminars & exhibitions to disseminate information. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 105. |
What is revolving L/C? |
| A. | The amount becomes available again without issuing another L/C and usually under the same terms and conditions |
| B. | Payment is on unconfirmed irrevocable basis |
| C. | Payment is on a future date |
| D. | none |
| Answer» B. Payment is on unconfirmed irrevocable basis | |
| 106. |
Which of the following is an example of intellectual property?Computer hardware |
| A. | Trademarks. |
| B. | Textiles. |
| C. | Electronics equipment |
| D. | none |
| Answer» C. Electronics equipment | |
| 107. |
The Director General of Foreign trade is appointed by |
| A. | Central Government |
| B. | State Government |
| C. | Ministry of commerce |
| D. | Chief justice of the Supreme Court |
| Answer» D. Chief justice of the Supreme Court | |
| 108. |
Total incoterms as per 2000? |
| A. | 13 |
| B. | 9 |
| C. | 10 |
| D. | 20 |
| Answer» B. 9 | |
| 109. |
Which of the following factors influence trade? |
| A. | The relative price of factors of productions. |
| B. | Government. |
| C. | The stage of development of a product. |
| D. | All of the above. |
| Answer» E. | |
| 110. |
The objective of _____ is to neutralize the incidence of basic customs duty on the import content of the export product. |
| A. | Duty Drawback Scheme |
| B. | Focus Product Scheme |
| C. | Duty Entitlement Passbook Scheme |
| D. | Focus Market Scheme |
| Answer» D. Focus Market Scheme | |
| 111. |
China launched world's first fully electric cargo ship in Guangzhou. What type of batterydoes it use? |
| A. | Lead acid |
| B. | Manganese |
| C. | Lithium ion |
| D. | Nickel metal hydride |
| Answer» D. Nickel metal hydride | |
| 112. |
PC shipments in India witnessed what percentage of growth in September 2017 quarter as against the year ago? |
| A. | 20.5% |
| B. | 19.5% |
| C. | 20% |
| D. | 50% |
| Answer» B. 19.5% | |
| 113. |
Bona fide technical and trade samples of items, even those in the restricted in ITC(HS)Classifications of Export and Import items is allowed without a license for a value not more than Rs. 1 lakh(CIF) |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 114. |
The export promotion scheme that enables the post export replenishment of duty on inputs usedin the export product is |
| A. | Replenishment licence. |
| B. | Duty remission scheme |
| C. | Duty exemption scheme |
| D. | Duty free replenishment certificate |
| Answer» C. Duty exemption scheme | |
| 115. |
What does ITC (HS) stand for? |
| A. | Indian trade classifications harmonized system |
| B. | Indian Trade Clarification Harmonized system |
| C. | Indian Trade Classification Hierarchal system |
| D. | None of the above |
| Answer» B. Indian Trade Clarification Harmonized system | |
| 116. |
Import of capital goods under EPCG scheme is subject to |
| A. | Terms and conditions of agreement |
| B. | Conditions of law of exporting country |
| C. | Actual user condition |
| D. | Conditions of law of importing country |
| Answer» D. Conditions of law of importing country | |
| 117. |
Goods going out of the country on export or entering the county on import should getcustoms clearance by complying with the procedures prescribed under the----- |
| A. | GST |
| B. | FEMA |
| C. | Custom Act |
| D. | none |
| Answer» D. none | |
| 118. |
What are the bodies exempted from having IEC number? |
| A. | Status Holders |
| B. | Ministries/Departments of the Central or State Govt |
| C. | SEZ’s |
| D. | None of the above |
| Answer» C. SEZ’s | |
| 119. |
The --------are also eligible for the facility of EOU/EPZ/ EHTP/STP scheme. |
| A. | service providers |
| B. | CHA |
| C. | Bankers |
| D. | none |
| Answer» B. CHA | |
| 120. |
The New Foreign Trade Policy for the period 2015 to 2020 was announced by thegovernment on the------------- |
| A. | 1st of April 2015 |
| B. | 1st of June 2015 |
| C. | all |
| D. | none |
| Answer» B. 1st of June 2015 | |
| 121. |
--------------examine issues relevant for promotion of India's foreign trade, and the international competitiveness of Indian goods and services. |
| A. | Boards of Trade |
| B. | DGFT |
| C. | Consular |
| D. | none |
| Answer» B. DGFT | |
| 122. |
MPEDA refers to- |
| A. | Marine Products Export Development Authority |
| B. | Mining Products Export Development Authority |
| C. | Meat Products Export Development Authority |
| D. | none |
| Answer» B. Mining Products Export Development Authority | |
| 123. |
Import Export code (IEC) number is issued by -------Regional licensing authority of DGFT |
| A. | Ministry of Commerce |
| B. | Commodity Boards |
| C. | all |
| D. | none |
| Answer» B. Commodity Boards | |
| 124. |
What is the nicotine replacement therapy product Glenmark launched in Nov 2017? |
| A. | Quitz |
| B. | QuitQik |
| C. | Kquitz |
| D. | Kwitz |
| Answer» E. | |
| 125. |
Which of the following holds that a government can improve the economic well-being of a country by encouraging exports and discouraging imports without a reliance on previous metals? |
| A. | Neo-mercantilism. |
| B. | The Leontief paradox. |
| C. | Quotas. |
| D. | Mercantilism. |
| Answer» B. The Leontief paradox. | |
| 126. |
What % of income tax exemption do the EOUs get? |
| A. | 100% |
| B. | 50% |
| C. | Varies from Industry to Industry |
| D. | None of the above |
| Answer» B. 50% | |
| 127. |
For clearance of goods from the warehouse the importer is required to present what isknown as -----------------of entry. |
| A. | import manifest |
| B. | 'Ex-bond Bill |
| C. | all |
| D. | none |
| Answer» C. all | |
| 128. |
The world trade organization was formed in the year _________ with GATT as it basis. |
| A. | 1993 |
| B. | 1994 |
| C. | 1995 |
| D. | 1996 |
| Answer» D. 1996 | |
| 129. |
The reward scrips themselves and any goods purchased by utilising these scrips are --------------------------by the companies without any restrictions. |
| A. | non-transferable |
| B. | freely transferable |
| C. | all |
| D. | none |
| Answer» C. all | |
| 130. |
Import of Capital Goods is allowed for |
| A. | Jigs , Fixtures , Dies |
| B. | Jigs , Fixtures , Machinery |
| C. | None of the above |
| D. | Can’t say |
| Answer» C. None of the above | |
| 131. |
US Federal Communications Commission has voted _____ net neutrality. |
| A. | For |
| B. | Against |
| C. | Neither for nor against |
| D. | 50-50 For and Against |
| Answer» B. Against | |
| 132. |
Which document is used for documentary collection? |
| A. | Bill of exchange/ draft |
| B. | Usance bill |
| C. | Bill of lading |
| D. | none |
| Answer» B. Usance bill | |
| 133. |
License is required for imports for SEZ units. |
| A. | Yes |
| B. | No |
| C. | Can’t say |
| D. | all |
| Answer» B. No | |
| 134. |
How many ways are there to get the IEC code? |
| A. | Physical |
| B. | Online |
| C. | Both |
| D. | Can’t Say |
| Answer» D. Can’t Say | |
| 135. |
As per the MEIS scheme, the export promotion reward ------------- shall be issued to exporters without any attached conditions on the basis of realised FOB value provided they pertain to goods notified for the scheme by the government. |
| A. | scrips |
| B. | schemes |
| C. | all |
| D. | none |
| Answer» B. schemes | |
| 136. |
The limit of holdings by Individual Foreign Institutional Investors in a Company has been raisedfrom 5 to 10 % of the company’s shares, while the aggregate limit has been increased from 24 to 34 %. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 137. |
Expand FMS |
| A. | First Market Scheme |
| B. | Focus Market Scheme |
| C. | Focus Marine Scheme |
| D. | FullMarket Scheme |
| Answer» B. Focus Market Scheme | |
| 138. |
When SEZ Act was passed? |
| A. | 2002 |
| B. | 2003 |
| C. | 2004 |
| D. | 2005 |
| Answer» E. | |
| 139. |
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. |
| Answer» B. Indirect assistance and support to farmers including R & D support by govt. are not permitted. | |
| 140. |
Bill of entry can be filed --------------in advance of expected arrival of goods. |
| A. | 60 days |
| B. | 30 days |
| C. | all |
| D. | none |
| Answer» C. all | |
| 141. |
Both the FIEO and ITPO have almost -----------objectives |
| A. | common |
| B. | un-common |
| C. | all |
| D. | none |
| Answer» B. un-common | |
| 142. |
The first ever set of multilaterals, legally enforceable rules covering international trade in services is the General Agreement on Trade in services (GATS). |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 143. |
The foreign Trade (Regulation) Rules was passed in the year |
| A. | 1991 |
| B. | 1992 |
| C. | 1993 |
| D. | 1994 |
| Answer» D. 1994 | |
| 144. |
The export proceeds shall be realized in |
| A. | Any foreign currency |
| B. | Non- convertible currency |
| C. | Convertible currency |
| D. | Home currency only |
| Answer» D. Home currency only | |
| 145. |
Department of Commerce of the Ministry of Commerce and industry is the main organization to ------------and guide India’s foreign trade policy. |
| A. | formulate |
| B. | dictate |
| C. | implement |
| D. | none |
| Answer» B. dictate | |
| 146. |
The Reserve Bank is expected to formulate standard operating procedure (SOP) for approval of FDI proposals by ministries following the government decision to phase out what board? |
| A. | FIDB |
| B. | FIDP |
| C. | FIPB |
| D. | FIDC |
| Answer» D. FIDC | |
| 147. |
To arrest and reverse the declining trend of exports and to provide additional support especially to those sectors which have been hit badly by recession in the developed world is the short objective of. |
| A. | 1992- 1997 policy |
| B. | 2002-2007 policy |
| C. | 1997-2002 policy |
| D. | 2009-2014 policy |
| Answer» E. | |
| 148. |
The notice for claim under the carriage of goods by rail is to be made within |
| A. | 3 months |
| B. | 4 months |
| C. | 5 months |
| D. | 6 months |
| Answer» E. | |
| 149. |
Form GP2 is issued for the removal of excisable goods without payment of duty. |
| A. | True |
| B. | False |
| C. | Can’t say |
| D. | none |
| Answer» B. False | |
| 150. |
All of the following are fundamental factors used by the countries to determine thecustoms duties to be paid for importing goods except |
| A. | Country of origin |
| B. | Classification |
| C. | Valuation |
| D. | Markings |
| Answer» E. | |