Exim Policies And Procedures

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