Top 250+ Solved Export Import Procedures and Documentation MCQ Questions Answer
Q. An application for customs clearance of import cargo is
a. Bill of lading
b. Bill of exchange
c. Shipping bill
d. Bill of Entry
Q. 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
Q. The General Agreement on Tariff and Trade was replaced by
a. Cross Border Trade Group
b. North American Free Trade Agreement
c. Mutlilateral Agreement
d. World Trade Organisation
Q. Expand FMS
a. First Market Scheme
b. Focus Market Scheme
c. Focus Marine Scheme
d. FullMarket Scheme
Q. 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
Q. Which of the following enables an exporter to import inputs without paying importduties?
a. Advance license
b. Advance money
c. DEPB
d. DGFT
Q. In India, the patent available for pharmaceuticals is
a. for product only
b. for process only
c. both for product and process
d. neither product nor process
Q. The license that is transferable is
a. Export license
b. Advance license
c. DEPB license
d. REP license
Q. Which enables an exporter to import capital goods, like plant and machinery atconcessional import duty?
a. Advance license
b. EPCG license
c. IEC license
d. FPS license
Q. Earlier Advance Authorization Scheme used to be called as
a. Advance scheme
b. Advance License Scheme
c. Advance License System
d. Advance Authority Scheme
Q. The EXIM policy is updated every year on
a. 31st December
b. 31st March
c. 30th September
d. 1st April
Q. 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
Q. The --------------is the premier organization in the country, which offers credit riskinsurance cover to exporters, banks, etc.
a. Duty Drawback Scheme
b. Focus Product Scheme
c. ECGC
d. none