Monday, July 26, 2010

Exim Policies and Procedures 1--SCDL

Exim Policies and Procedures 1:

Multiple Choice Single Answer
Question
Any person applying for any License of benefit or concession under the Foreign Trade Policy will be required to furnish :
Correct Answer
Registration cum Membership Certificate (RCMC)
Your Answer
Registration cum Membership Certificate (RCMC)

True/False
Question
In case of Free of cost imported raw material, value addition would be computed by adding Notional Value of free of cost material to both CIF value of imports and FOB value of exports.
Correct Answer
True
Your Answer
False

Select The Blank
Question
Authorised Air Port for export consignments is________.
Correct Answer
Nagpur
Your Answer
Ranchi

Select The Blank
Question
Market Development Assistance is given to Exporters having annual Export turnover upto Rs.________.
Correct Answer
5 Crs
Your Answer
5 Crs

Match The Following
Question
Correct Answer
Your Answer
SEZ
Special Economic Zones
Special Economic Zones
BOA
Board of Approval
Board of Administrators
EPZ
Export Processing Zones
Exempted Processing Zones
OBU
Offshore Banking Units
Offshore Banking Units

Multiple Choice Multiple Answer
Question
License holder shall furnish following details of material being imported :-
Correct Answer
Specifications , Technical Characteristics , Pricing
Your Answer
Specifications , Technical Characteristics , Quality control report of country of origin

Multiple Choice Multiple Answer
Question
Special Economic Zones were created to :-
Correct Answer
Boost manufacturing , Augment exports , Generate employment
Your Answer
Boost manufacturing , Augment exports , Generate employment

True/False
Question
Deemed export benefits are sanctioned by DGFT without claims.
Correct Answer
False
Your Answer
False

True/False
Question
Private sector cannot develop Special Economic Zones.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Under Advance License goods imported may be used in any of the units of :-
Correct Answer
License Holder , Jobber , Supporting manufacturer
Your Answer
License Holder , Jobber

Multiple Choice Multiple Answer
Question
The major functions of Export Promotion Council (EPC) are
Correct Answer
Provide commercial information , Organise trade fairs, exhibitions , Promote interaction between trade and Government
Your Answer
Provide commercial information , Organise trade fairs, exhibitions , Bail out exporters in case of losses

Multiple Choice Single Answer
Question
Documents required for supplies made against Advance License are :-
Correct Answer
Xerox copy of Purchase order /Contract
Your Answer
Bank Guarantee

Multiple Choice Single Answer
Question
For EOU units Disposal of used packing material will be allowed on payment of duty on :-
Correct Answer
Transaction Value
Your Answer
CIF value

Multiple Choice Multiple Answer
Question
Import of Capital Goods is allowed for :-
Correct Answer
Jigs , Fixtures , Dies
Your Answer
Jigs , Fixtures , Dies

Multiple Choice Single Answer
Question
Major function of Export Promotion Councils is :
Correct Answer
Offer Professional advise to exporters
Your Answer
Offer Professional advise to exporters

Multiple Choice Single Answer
Question
Sale by EOU to SEZ units is treated as :-
Correct Answer
Physical exports
Your Answer
Deemed exports

Multiple Choice Multiple Answer
Question
DGFT may issue Advanced License, where SION does not exists, based on self declaration, based on :-
Correct Answer
Undertaking by the applicant , Final adjustments as per adhoc SION , Adhoc norms fixed category
Your Answer
Final adjustments as per adhoc SION , Adhoc norms fixed category , Track record of exporter

True/False
Question
Foreign exchange earning by way of Equity Participation and donations will not be entitled for duty credit.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
FTWZ is entitled for :-
Correct Answer
Free Foreign Exchange Transactions
Your Answer
Transaction only with advance payments

Multiple Choice Single Answer
Question
Objective of Foreign Trade Policy is to:
Correct Answer
Double our Share in Global Market within next 5 years
Your Answer
Double our Share in Global Market within next 5 years

Multiple Choice Single Answer
Question
Under International Trade Agreements India is required to :-
Correct Answer
Eliminate Quantitative restrictions on imports
Your Answer
Eliminate Quantitative restrictions on imports

Select The Blank
Question
Foreign Trade Policy aims to act as an effective instrument of economic growth by giving thrust to ________.
Correct Answer
Employment Generation
Your Answer
Increase trade

Multiple Choice Single Answer
Question
In order to obviate need for litigation , Foreign Trade Policy lays down :
Correct Answer
Grievance Redressal Mechanism
Your Answer
Grievance Redressal Mechanism

Select The Blank
Question
Four Star Export House should have minimum export performance of Rs.________.
Correct Answer
1500 Crs
Your Answer
1500 Crs

Multiple Choice Single Answer
Question
Granite sector EOU may supply capital goods inputs to :-
Correct Answer
Farms/Fields/Quarries directly
Your Answer
Manufacturing bases only

Select The Blank
Question
FTWZ is expected to address the issues of ________.
Correct Answer
Global Trading network
Your Answer
Star Trading Houses

Multiple Choice Multiple Answer
Question
Fulfillment of Export obligation for licenses with duty saved of Rs.100 Corers or more is valid only if :-
Correct Answer
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
Your Answer
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

Select The Blank
Question
EXIM Licensing is a________ function of Board of Trade under Foreign Trade Policy
Correct Answer
Regulatory
Your Answer
Promotional

Select The Blank
Question
Special Economic Zones will located in areas which will be technically treated as ________.
Correct Answer
Foreign Territory for applicability of domestic legislations
Your Answer
Financially independent

True/False
Question
All imported goods shall be subject to domestic laws, rules, orders, regulations.
Correct Answer
True
Your Answer
True

True/False
Question
An EPCG License holder may source capital goods from domestic leasing company.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Deemed exports is beneficial to Indian buyers because :-
Correct Answer
It reduces costs in supply chain management , After sales service is easier , Saves foreign exchange
Your Answer
It reduces costs in supply chain management , Saves foreign exchange

True/False
Question
In Special Economic Zones Domestic Laws will not be applicable.
Correct Answer
True
Your Answer
False

Multiple Choice Multiple Answer
Question
Export promotion units may be engaged in :-
Correct Answer
Manufacturing activities , Provision of Services , Trading activities
Your Answer
Provision of Services , Trading activities , Consultancy services

Multiple Choice Single Answer
Question
Minimum investment required for FTWZ is :-
Correct Answer
100 Crorers
Your Answer
125 Croers

Multiple Choice Single Answer
Question
Department of commerce allots funds to the states on following criteria:
Correct Answer
Growth in exports
Your Answer
Domestic market conditions

Select The Blank
Question
Latest EXIM policy is valid for the period of ________.
Correct Answer
2002-2007
Your Answer
2002-2007

True/False
Question
Gopalpur is the entitled sea port for export consignments.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Under International Trade Agreements India is required to eliminate________ on our imports.
Correct Answer
Quantitative restrictions
Your Answer
Red tape in the transaction processing

Select The Blank
Question
Industrial cluster town of Tirupur is famous for production of ________.
Correct Answer
Hosiery items
Your Answer
Fire Crackers

Select The Blank
Question
The exporter shall furnish ________ Returns to the Registering Authorities
Correct Answer
Quarterly
Your Answer
Quarterly

True/False
Question
Sub Contracting is allowed provided products are dispatched directly form EOU premises.
Correct Answer
True
Your Answer
False

True/False
Question
Import of second hand (maximum 3 years old) capital goods are allowed.
Correct Answer
False
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
CIF
Cost Insurance Freight
Cost Insurance Freight
100% EOU
100% Export Oriented Units
100% Export Oriented Units
SEZ
Special Economic Zone
Special Economic Zone
EPCG
Export Promotion Capital Goods
Export Promotion Credit Guarantee

Multiple Choice Multiple Answer
Question
Under Market Development Assistance Government provides
Correct Answer
Expenses for trade fairs abroad , Expenses for buyer /sellers meet , Foreign travel
Your Answer
Expenses for trade fairs abroad , Expenses for buyer /sellers meet

Multiple Choice Single Answer
Question
Benefits to Star Export Houses are
Correct Answer
Custom clearances on Self Declaration basis
Your Answer
Custom clearances on Self Declaration basis

Multiple Choice Multiple Answer
Question
India could achieve import substitution because :-
Correct Answer
Concessions given on Technology transfer , Training of Indian professionals abroad , Technical collaboration
Your Answer
Training of Indian professionals abroad , Technical collaboration , Expertise in IT sector

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