Top 250+ Solved Export Import Procedures and Documentation MCQ Questions Answer
Q. Bill of entry can be filed --------------in advance of expected arrival of goods.
a. 60 days
b. 30 days
c. all
d. none
Q. Advance license facility enables ----------- to import inputs without payment of customduty.
a. importer
b. exporter
c. all
d. none
Q. The --------------is a complete, list of all items the conveyance carries on board to be transshipped and those to be carried to the subsequent ports of call.
a. SEIS
b. MEIS
c. import manifest
d. none
Q. 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
Q. Form GP1 is issued for the removal of excisable goods on payment of duty.
a. True
b. False
c. Can’t say
d. none
Q. Form GP2 is issued for the removal of excisable goods without payment of duty.
a. True
b. False
c. Can’t say
d. none
Q. 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.
Q. Which of the following products have moved through the IPLC and are now in the standardized product stage?
a. DVD players.
b. Televisions.
c. Computer memory cards.
d. All of the above.
Q. 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.
Q. If the price of the Japanese Yen declines considerably against the British Pound:
a. it is always because of British government interference.
b. it is always because of Japanese government interference.
c. British goods are relatively cheaper for Japanese consumers.
d. Japanese goods are relatively cheaper for British consumers.
Q. If a Japanese firm sold $10 billion of machinery in US and the US dollar declined against the Japanese currency:
a. the Japanese firm will report more revenue (in terms of Yen) than if the US dollar had remained stable.
b. the Japanese firm will report less revenue (in terms of Yen) than if the US dollar had remained stable.
c. the Japanese company will make sure that the difference is paid back to its affiliate.
d. the Japanese company will move funds to the home country.
Q. Which of the following is not a reason to erect trade barriers?
a. Promote import activity.
b. Reduce reliance on foreign suppliers.
c. Protect local jobs.
d. Encourage local production.
Q. Which of the following countries is not a member of OPEC?
a. Iran.
b. Iraq.
c. Venezuela.
d. Afghanistan.