Tag: import and export procedure

Questions Related to import and export procedure

When an exporter is given a licence to import goods, it is called replenishment licence.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. True

  2. False

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Correct Option: A

_______ carries goods on behalf of exporters on payment of freight charges, and undertakes to deliver the same to the importer.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. Merchant Exporter

  2. Trade Representatives

  3. Shipping Company

  4. Export Houses

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Correct Option: C

Exporting/importing is the most preferred way for business firms when they are getting initially involved with international business.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. True

  2. False

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Correct Option: A
Explanation:

An import in the receiving country is an export from the sending country.Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited byimport quotas and mandates from the customs authority.

For importing or exporting, the business or individual must obtain _________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. Commercial invoice

  2. Import Export Code

  3. Airway bill

  4. Bill of Lading

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Correct Option: B
Explanation:

IMPORTER EXPORTER CODE ( in short IEC ) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export.

In 1995-96, India's imports have increased to ________________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. Rs. 1,06,465 crores

  2. Rs. 1,22,678  crores

  3. Rs. 1,645 crores

  4. Rs. 5,795 crores

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Correct Option: B

The composition of trade denotes ___________________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. the relationship between value of exports and

    value of imports

  2. the countries to which commodities are exported and the countries from which commodities are imported

  3. the nature of goods that are exported and imported

  4. none of above

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Correct Option: C

The authorised capial of EXIM Bank is ______________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. Rs.50 crores

  2. Rs.100 crores

  3. Rs.150 crores

  4. Rs.200 crores

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Correct Option: D

Which of the following schemes is not introduced by the EXIM Bank?

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. Africa Project Development facility

  2. Export Marketing Finance Programme

  3. American Project Development Facility

  4. Export Vendor Development Finance Programme

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Correct Option: C

The Export Marketing Fund is set up in ______________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. 1970

  2. 1976

  3. 1980

  4. 1986

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Correct Option: D

Main objectives of the EXIM Bank is/are ________________.

business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

  1. to encourage project exports

  2. to finance Indian joint ventures abroad

  3. to deal in foreign exchange

  4. all the above

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Correct Option: D