McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Master of Business Administration (MBA) .
Chapters
| 1. |
Market Development Assistance is given to Exporters having annual Export turnover uptoRs.________. |
| A. | 5 Crs |
| B. | 6 Crs |
| C. | 8 Crs |
| D. | 7Crs |
| Answer» A. 5 Crs | |
| 2. |
The major functions of Export Promotion Council (EPC) are to- |
| A. | Provide commercial information, Organize trade fairs, exhibitions , Promote interaction between trade and Government |
| B. | Provide commercial information , Organize trade fairs, exhibitions , Bail out exporters in case of losses |
| C. | None of the above |
| D. | Can’t say |
| Answer» A. Provide commercial information, Organize trade fairs, exhibitions , Promote interaction between trade and Government | |
| 3. |
______ refers to the policy measures adopted by a country with reference to its exports and imports. |
| A. | EXIM policy |
| B. | Economic policy |
| C. | Fiscal policy |
| D. | Monetary policy |
| Answer» A. EXIM policy | |
| 4. |
What does EXIM policy controls? |
| A. | Only Exports |
| B. | Only Imports |
| C. | Both |
| D. | Can’t say |
| Answer» C. Both | |
| 5. |
Who heads the department of import export in India? |
| A. | GOI |
| B. | DGFT |
| C. | WTO |
| D. | None of the above |
| Answer» B. DGFT | |
| 6. |
When was the 1st EXIM policy defined? |
| A. | 1962 |
| B. | 1991 |
| C. | 1974 |
| D. | Can’t say |
| Answer» A. 1962 | |
| 7. |
Fulfillment of Export obligation for licenses with duty saved of Rs.100 Corers or more is valid only if - |
| A. | It is 8 times the duty saved on capital goods , It is fulfilled within 12 years for issuance of license , Initial 5% custom duty has been paid |
| B. | It is 4 times the duty saved on capital goods , It is fulfilled within 24 years for issuance of license , Initial 5% custom duty has been paid |
| C. | None of the above |
| D. | Can’t say |
| Answer» A. It is 8 times the duty saved on capital goods , It is fulfilled within 12 years for issuance of license , Initial 5% custom duty has been paid | |
| 8. |
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» A. Exchange control Regulations | |
| 9. |
Deemed export benefits are sanctioned by DGFT without claims. |
| A. | False |
| B. | true |
| C. | Can’t say |
| D. | none |
| Answer» B. true | |
| 10. |
Where the headquarters of DGFT is situated? |
| A. | Mumbai |
| B. | Ahemadabad |
| C. | New Delhi |
| D. | Kanpur |
| Answer» C. New Delhi | |
| 11. |
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» A. Double our Share in Global Market within next 5 years | |
| 12. |
Under International Trade Agreements India is required to |
| A. | Eliminate Quantitative restrictions on imports |
| B. | Eliminate Qualitative restrictions on imports |
| C. | None of the above |
| D. | Can’t say |
| Answer» A. Eliminate Quantitative restrictions on imports | |
| 13. |
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» A. Undertaking by the applicant , Final adjustments as per adhoc SION , Adhoc norms fixed category | |
| 14. |
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» B. Jigs , Fixtures , Machinery | |
| 15. |
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» D. none of the above | |
| 16. |
Export Promotion Capital Goods Scheme allows import of capital goods Free 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» C. With concessional duty of 5 per cent with export obligation 8 times the import made | |
| 17. |
Geographical indications specifies |
| A. | Place of origin of goods |
| B. | Special characteristics of the product associated with place of origin |
| C. | Place and special characters of the product |
| D. | Place or special characters of the product |
| Answer» C. Place and special characters of the product | |
| 18. |
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» C. Actual user condition | |
| 19. |
The export proceeds shall be realized in |
| A. | Any foreign currency |
| B. | Non- convertible currency |
| C. | Convertible currency |
| D. | Home currency only |
| Answer» C. Convertible currency | |
| 20. |
EXIM Licensing is a________ function of Board of Trade under Foreign Trade Policy |
| A. | Statutory |
| B. | Regulatory |
| C. | Redressal |
| D. | Promotional |
| Answer» B. Regulatory | |
| 21. |
An important feature of Export License under which certain goods can be imported only by designated agencies. For an example, an item like gold, in bulk, can be imported only by specified banks like SBI and some foreign banks or designated agencies. |
| A. | Canalization |
| B. | Cannibalization |
| C. | Status Holders |
| D. | None of the above |
| Answer» A. Canalization | |
| 22. |
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» C. Ministry of commerce | |
| 23. |
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» D. 2009-2014 policy | |
| 24. |
To double India's percentage share of global merchandise trade is the objective of. |
| A. | 1992- 97 policy |
| B. | 1997-02 policy |
| C. | 2002-07 policy |
| D. | 2009-14 policy |
| Answer» D. 2009-14 policy | |
| 25. |
The foreign Trade (Regulation) Rules was passed in the year |
| A. | 1991 |
| B. | 1992 |
| C. | 1993 |
| D. | 1994 |
| Answer» C. 1993 | |
| 26. |
Foreign Trade Policy is a set of guidelines and instructions established by the |
| A. | DGFT |
| B. | MSME |
| C. | Govt. of India |
| D. | none |
| Answer» A. DGFT | |
| 27. |
In India importers can import capital goods according 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» C. Actual user condition | |
| 28. |
Trade Policy is prepared and announced by the |
| A. | DGFT |
| B. | MSME |
| C. | Govt. of India |
| D. | Ministry of Commerce |
| Answer» D. Ministry of Commerce | |
| 29. |
Time limit for re-import of exported gems and jewellery items in India is- |
| A. | 60 days |
| B. | 70 days |
| C. | 90 days |
| D. | none |
| Answer» C. 90 days | |
| 30. |
Permission for duty free import of samples by exporters is- |
| A. | 15 |
| B. | 45 |
| C. | 50 |
| D. | none |
| Answer» C. 50 | |
| 31. |
Conversion of Shipping Bills from one Export Promotion scheme to other scheme has been allowed within |
| A. | Within 1 month |
| B. | Within 3 months |
| C. | Within 2 months |
| D. | none |
| Answer» B. Within 3 months | |
| 32. |
There are at present -----------Export Promotion Councils under the administrative control of the Department of Commerce |
| A. | 10 |
| B. | 11 |
| C. | 12 |
| D. | none |
| Answer» B. 11 | |
| 33. |
Commodity Boards act as an interface between international agencies like etc |
| A. | ITC |
| B. | FAO |
| C. | Both |
| D. | none |
| Answer» C. Both | |
| 34. |
MPEDA refers to- |
| A. | Marine Products Export Development Authority |
| B. | Mining Products Export Development Authority |
| C. | Meat Products Export Development Authority |
| D. | none |
| Answer» A. Marine Products Export Development Authority | |
| 35. |
RCMC is a registration certificate granted by --------as prescribed by Foreign Trade Policy to an exporting unit |
| A. | Export Promotion Council |
| B. | Commodity Board |
| C. | Development Authority |
| D. | All above |
| Answer» D. All above | |
| 36. |
The New Foreign Trade Policy for the period 2015 to 2020 was announced by the government on the------------- |
| A. | 1st of April 2015 |
| B. | 1st of June 2015 |
| C. | all |
| D. | none |
| Answer» A. 1st of April 2015 | |
| 37. |
MEIS scheme actually is- |
| A. | Marine Export from India scheme |
| B. | Mining products Export from India scheme |
| C. | Merchandise Exports from India Scheme |
| D. | none |
| Answer» C. Merchandise Exports from India Scheme | |
| 38. |
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» A. scrips | |
| 39. |
MEIS benefits have also been extended to all -------------other than free trade warehousing units. |
| A. | large industries |
| B. | SEZ units |
| C. | all |
| D. | none |
| Answer» B. SEZ units | |
| 40. |
As per the new trade policy, the previously existing Served From India Scheme (SFIS) has been scrapped, in its place the ------------------------------ scheme has been announced. |
| A. | Services Export from India (SEIS) |
| B. | Marine Export from India |
| C. | all |
| D. | none |
| Answer» A. Services Export from India (SEIS) | |
| 41. |
Eligible exporters shall be issued rewards in the form of duty credit scrips based on the net foreign exchange earned |
| A. | SEIS |
| B. | MEIS |
| C. | Both |
| D. | none |
| Answer» C. Both | |
| 42. |
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» B. freely transferable | |
| 43. |
Specific export requirements under the EPCG scheme have been reduced from 90% of normal amount consideration to --------------of the normal amount consideration. |
| A. | 95% |
| B. | 50% |
| C. | 75% |
| D. | none |
| Answer» C. 75% | |
| 44. |
Premier Trading House certificate has been changed to-------------- |
| A. | Five Star Export house |
| B. | Four Star Export house |
| C. | all |
| D. | none |
| Answer» A. Five Star Export house | |
| 45. |
EOUs have been ---------------facility to set up Warehouses near the port of export. |
| A. | Allowed |
| B. | Disallowed |
| C. | all |
| D. | none |
| Answer» A. Allowed | |
| 46. |
Current EXIM policy is for a period of 3 years |
| A. | 3 years |
| B. | 5 years |
| C. | 10 years |
| D. | none |
| Answer» B. 5 years | |
| 47. |
FERA and FEMA are one and the same |
| A. | Yes |
| B. | No |
| C. | all |
| D. | none |
| Answer» B. No | |
| 48. |
Both the FIEO and ITPO have almost -----------objectives |
| A. | common |
| B. | un-common |
| C. | all |
| D. | none |
| Answer» A. common | |
| 49. |
Trade promotion Organization imparts the -----------information available in foreign markets. |
| A. | advanced |
| B. | basic |
| C. | all |
| D. | none |
| Answer» B. basic | |
| 50. |
Federation of Indian Exports organization arranges seminars & exhibitions to disseminate information. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» A. True | |
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