Top 250+ Solved Export Import Procedures and Documentation MCQ Questions Answer
Q. Name the two schemes introduced under the new foreign trade policy? Merchandise Export from India Scheme & Services Export from India Scheme
a. Services Export from India Scheme & Services Import from India Scheme
b. Services Import from India Scheme & Merchandise Export from India Scheme
c. Merchandise Import from India Scheme & Services Export from India Scheme
d. none
Q. Consider the following statements about the Foreign Trade Policy 2015-20 unveiled on 1st Apr’15. A. This policy focuses on boosting exports and creating jobs while supporting the Centre’s Make In India and Digital India' programs. B. The new policy is to create architecture for the Indian economy so that it can gain global competitiveness and promote the diversification of Indian export. C. The policy is to move towards paperless working in 24x7 environments. D. The policy comes at a time when export growth contracted 15 percent in February 2014-15, reporting a negative growth for the third consecutive month.
a. A & B is correct
b. B & C is correct
c. A, B & D is correct
d. All of the above is correct
Q. 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
Q. Which is India's first mega coastal economic zone (CEZ)?
a. Vizag Port
b. Chennai Port
c. Jawaharlal Nehru Port
d. Indira Gandhi Port
Q. 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
Q. 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
Q. What is the nicotine replacement therapy product Glenmark launched in Nov 2017?
a. Quitz
b. QuitQik
c. Kquitz
d. Kwitz
Q. 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%
Q. What is advantage of documentary collection?
a. Less costly, tie up with bank not required.
b. More safe as payment at the sight of goods or acceptance
c. Both of above
d. none
Q. Which document is used for documentary collection?
a. Bill of exchange/ draft
b. Usance bill
c. Bill of lading
d. none
Q. What is the time of payment for documentary collection?
a. At the sight of goods or acceptance, as agreed
b. At a future date
c. Prior to shipping
d. none
Q. INCO termswere given by
a. International Chamber of Commerce
b. Director General of Foreign Trade
c. Ministry of Commerce
d. none
Q. 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
Q. 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