True/False?

UN certificate for a lot of unlimited packages valid for either six months or
twelve months from the date of issue of the certificate.

A. True

B. False

How many packaging materials as samples are required for carrying out the various
tests in the laboratory tests in the laboratory in case of plastic container?

A. 20

B. 21

C. 22

D. 23

E. 24

IBC stands for

A. Intermediate Base Container

B. Intermediate Business Container

C. Intermediate Bulk Container

D. None of the above

IMDG Stands for

A. Intermediate Maritime Dangerous Goods

B. Intermediate Maritime Demand Goods

C. International Maritime Demand Goods

 D. International Maritime Dangerous Goods

Till which year the hazardous goods in packaged condition used to be exported from
one country to another country

A. 1949

B. 1950

C. 1951

D. 1952

E. The RBI comes out with a standard master circular on Exports and Imports which
details the payment related regulations/ rules for exports/ imports. As per the current
rules, the period under which an exporter is supposed to realize payment for his
shipment

A. Nine months

B. Twelve months

C. 18 Months

D. Six months

Which of the following documents is file to custom department by an Aeroplane, Ship,

Truck and Rail coming to India?

A. Export General Manifest

B. Exit Outward

C. Entry Inward

D. Import General Manifest

Which of following types of bill of entry is filed for bonded warehousing of imported
goods?

A. Bill of Entry for Ex-bond Clearance for home Consumption

B. Bill of Entry under ATA Carnet

C. Bill of Entry for Warehousing

D. Bill of Entry for Home Consumption

Which of the following document is filed with custom department to get clear the
exportable cargo?

A. Shipping bill

B. Bill of Entry

C. Importer Exporter Code

D. Packing list

Territorial boundaries of a country are how many NM from coastal boundary accordingly
to Customs Act 1962.

A. 15 NM

B. 20 NM

C. 12 NM

D. 24 NM

Normal Goods can remain warehoused for which of the following time period in case of
warehousing of goods under bill of entry for warehousing?

A. Less than 3 months

B. Max one year

C. Max 3 year

D. Max 5 year

Which of the following bill of entry is filed to get cleared the goods warehoused in
bonded warehouse?

A. Bill of Entry for Warehousing

B. Bill of Entry for Home consumption

C. Bill of Entry for Ex-bond Clearance for Home Consumption

D. Advance bill of Entry

ECGC Claims can not be paid for the following losses;

A. Physical loss to goods

B. Quality disputes

C. Exchange fluctuations in short term

D. All the above

Under Shipment comprehensive policy the claim s payable to large exporters are

A. 95%

B. 80%

C. 90%

D. None of the above

If the product is made for the specific market the exporter can get the Shipment
comprehensive policy

A. Endorsed for risk coverage from the contract stage

B. Pre shipment policy

C. Cover is not available

D. None of the above

Which of the following statement about Packing List are Correct?

I. It is a consolidated statement in a prescribed format, detailing how the goods have
been packed.
II. It is informative and itemizes the material in each individual package, such as drum,
box, or carton.
III. It is a very useful document for customs at the time of examination and for the
warehouse keeper of the buyer to maintain a record of inventory and to effect delivery.

A. Only I & II are correct

B. Only II & III are correct

C. Only I & III are correct

D. All are correct

Which of the following is sent by export to importer to show his wiliness to sell him
something or offer to sell something?

A. Commercial Invoice

B. Custom Invoice

C. Consular Invoice

D. Performa Invoice
Which of the following document is filed with custom department to get clear the
exportable cargo?

A. Shipping bill

B. Bill of Entry

C. Importer Exporter Code

D. Packing list

Which of the following is not a feature of Bill of Lading?

A. Non-negotiable instrument

B. Contract of Carriage

C. Receipt of Cargo

D. Title of Goods

Which of the following is not a feature of Airway Bill?

A. Contract of Carriage

B. Contract of Affreightment

C. Negotiable Instrument

D. Receipt of Cargo

Which of the following document is received from ship captain while handing over the
goods to shipping company at the time of loading of cargo?
A. Bill of Lading

B. Seaway Bill

C. Ocean Bill of Lading

D. Mate's Receipt

____ documents are required to effect physical transfer of goods and realise payments.

A. Commercial Auxiliary documents

B. Commercial Principal documents

C. Regulatory Documents

D. None of the above

____ is the document used for foreign exchange realisation under EDI and is now merged
with Shipping Bill.

A. SDF/ EDPMS

B. GR

C. Shipping Bill

D. Bill of Entry

Bill of Lading is issued in

A. Negotiable copies

B. Non-Negotiable copies

C. Both a and b
 D. None of the above

Effective rate of duty will be duty in enforce?

A. On the date of clearance of cargo

B. On date of filing of bill of entry

C. On date of out of charge order

D. On date of grant of entry inwards order

Applicable exchange rate will be exchange rate on date of ..?

A. On the date of clearance of cargo

B. On date of filing of bill of entry

C. On date of out of charge order

D. On date of grant of entry inwards order

Import General Manifest is filed under which of the following section?

A. Section 30

B. Section 31

C. Section 40

D. Section 41
Which of the following is a principal commercial document?

A. Commercial Invoice

B. Custom Invoice

C. Consular Invoice

D. Performa Invoice

Which of the following is sent by export to importer to show his wiliness to sell him
something or offer to sell something?

A. Commercial Invoice

B. Custom Invoice

C. Consular Invoice

D. Proforma Invoice

Which of the following is not a feature of Bill of Lading?

A. Quasi Financial Instrument

B. Contract of Carriage

C. Receipt of Cargo

D. Title of Goods

Which of the following is not a feature of Airway Bill?

A. Contract of Carriage
B. Contract of Affreightment

C. Negotiable Instrument

D. Receipt of Cargo

Packing list is important as it describes;

A. Cargo features

B. Cargo size and Dimensions

C. Stock management & Custom Compliance

D. All the above

Mater Airway Bill is issued from which of the following?

A. Air lines/ Air Cargo Freighter

B. IATA Approved Agent

C. FIATA Approved Agent

D. Freight Forwarder or CHA

Order for execution of triple duty bond is executed under which of the following section?

A. Section 59

B. Section 60

C. Section 61

D. Section 57
Presently exchange rate of one currency against another is fixed by following based on
demand & supply :-

A. Forex Market

B. Central Bank of the country

C. Government of concerned currencies

D. Banks

Directionless and unpredictable movement in exchange rate can convert profit making
transaction into loss making and vice versa :-

A. Correct

B. Incorrect

C. Depends on profit margin

D. Govt. protects the exchange rate

Currency exchange risk of export transaction depends on :-

A. Amount, currency and exposure period

B. Only on amount

C. Only on period of exposure

D. Only on nature of currency

Currency exchange risk of an exporter can be covered with the help of :-

A. E.C.G.C.

B. RBI

C. Forex Derivatives

D. Insurance Company

Cheap, best and easy to understand Forex Derivative, to protect profit margin of export
transaction is :-

A. Forward Contract

B. Future Contract

C. Option Contract

D. Swap Contract

Main Currency of Export/Import Business transaction in India is

A. USD

B. EURO

C. RUPEE

D. YEN

Export invoicing in INR is not permitted presently

A. Correct
B. Incorrect

Exporters may match Export & Import transactions in a particuler foreign currency and
may hedge the balance amount

A. Correct

B. Incorrect

Export Finance in Invoice currency provides natural hedging to the Exporter.

A. Correct

B. Incorrect

Foreign Currency Hedging should be used by Exporters to protect profit margin and not
for speculation

A. Correct

B. Incorrect

Which of the following document is mandatory for foreign exchange declaration under
manual filing of shipping bill under FEMA rules?

A. SDF

B. EDF

C. Softex

D. None of above
Which of the following Exchange Control Document is merged with Shipping Bill?

A. SDF

B. EDF

C. Softex

D. None of above

Statusholder Exporters are permitted to send the export documents directly to the
buyers

A. Correct

B. Incorrect

C. Only buyers in USA & Europe

The Foreign Exchange must be realised through ...?

A. Proper Banking Channels

B. Indian Banking Channels

C. US Banking Channels

D. By Cash recept in Foreign Currecies

FEMA stands for ...?

A. Foreign Exchange Monitoring Act

B. Foreign Exchange Management Act

C. Foreign Earning Monitoring Act

D. Foreign Earning Management Act

Exporters are allowed under FEMA to issue invoice in following currency :

A. EURO only

B. USD only

C. INR only

D. Main foreign currencies and INR

It is mandatory, to realize and repatriate the export sale proceed within following
stipulated period from the date of shipment :-

A. Six months

B. Three months

C. Nine months

D. Twelve months

Exporters are allowed to receive advance payment from foreign buyer with following
percentages :-

A. 10% only

B. 25% only

C. 50% only
 D. Any agreed percentage

Exporter is permitted to give following discount and rebate to foreign buyer & discounts
have to be declared on shipping bill for approval of custom authorities :-

A. 10% discount and rebate only

B. 25% discount and rebate only

C. Declared and approved discount with no restriction on rebate

D. 50% discount and rebate only

Shipping bill remained outstanding for more than 2 years, without obtaining extension
from competent authority will make the exporter, as caution listed by RBI. Caution listed
exporter is entitled for following facilities :-

A. Given priority to export finance

B. Get some extra incentives

C. Not allowed to exports

D. Exports against advance payment or L/C only

ECGC provides cover to bank to secure their

A. Pre shipment credits only

B. Pre & Post shipment credits

C. Post shipment only

D. Discretion of the ECGC

Export Finance is given by Bank for aranging Inputs including imported items required
for completion of Export Transaction

A. Correct

B. Incorrect

C. No Foreign Currency Finance for local imports

Exporters Will get interest equalizer incentives when availing foreign currency finance

A. Correct

B. Incorrect

C. Available only for Export to Africa

Eligible exporters can arrange export finance from Commercial Banks at concessional
interest for following purpose in INR and foreign currencies :-

A. To meet working capital requirement

B. To purchase machinery

C. To purchase computer system

D. To purchase land for factory

Pre-shipment export finance can be raised in INR and foreign currencies by exporter at
following stage :-

A. To meet financial requirements before shipment of goods

B. To meet financial requirement after shipment of goods

C. To start new local business

D. To buy existing business entity

Pre-shipment and post-shipment bank finance can be arranged in following currencies:-

A. Only in Rupee

B. Only in USD

C. Can be in Rupee and foreign currencies

D. Only in EURO

Pre-shipment bank finance may be adjusted by purchase/discount/negotiation of export

documents :-

A. Correct

B. Incorrect

C. From ECGC claims

D. From incentives

Export Finance can be arranged at concessional interest for import of inputs required to
execute export order :-

A. Such finance can be arranged in Rupee only

B. Finance can be obtained in Rupee only at higher interest rates

C. Finance can be obtained in Foreign Currencies at low interest rates

D. Finance can only be raised in post-shipment stage

Preshipment and postshipment finance are given as a part of single financial assiatance
to exporters

A. Correct
B. Incorrect

Export Finance in INR or Foreign Currencies is given to eligible exporters at

concessional interest rates, to make them competitive in International Markets

A. Correct

B. Incorrect

Ideally; there are how many parties in a bill of exchange?

A. 4

B. 3

C. 2

D. 5

Which of the following is most safe method for an exporter?

A. Payment in advance

B. Documents against payment

C. Documents against acceptance

D. Letter of credit

Which of the following is most unsafe method of payment for an exporter?

A. Payment in advance

B. Documents against payment

C. Documents against acceptance

D. Open account method

Which of the following method is considered ideal and competitive as it distributes risks
equally between an exporter and importer?

A. Payment in advance

B. Documents against payment

C. Documents against acceptance

D. Letter of credit

Which of the following method of payment is suitable when importer's credit worthiness
is under doubt?

A. Documents against payment

B. Documents against acceptance

C. Letter of credit

D. Open account method

Exporters offer competitive trade terms so as to win new and unexplored markets, which
of the following term is most competitive for an importer?

A. Payment in advance

B. Documents against payment

C. Documents against acceptance

D. Letter of credit
Receipt of full export payment on time is essential for success in export business and
exporter must arrange payment through banking channels :-

A. Correct

B. Incorrect

C. Partial payment

D. Payment received in USD after one year

Best payment instrument to receive full and final payment from foreign buyer is:-

A. Cash in foreign currency

B. SWIFT

C. Draft in foreign currency

D. Cheque in foreign currency

Advance payment is risk free method of payment for exporter. It will be treated as
advance payment when it is received on following date :-

A. Before date of shipment

B. After date of shipment

C. Before date of receipt of payment by bank

D. Before the date importer gets goods

Under letter of credit, exporter will get payment from the bank after shipment and based
on :-

A. Goods
B. Documents

C. By exporter

D. By importer

Correct Option: A

Exporter is getting small amount order from new foreign buyer, residing in politically risk
country. Best method of payment will be :-

A. Advance payment

B. L/C payment

C. Banker Collection

D. Optional Account

Which of the following is required to claim refund of Input Duties of GST?

A. Bill of exchange

B. GST-RFD 1

C. CT-1

D. Shipping Bill

The Government of India has recently launched the GST system of Indirect Taxes. Under
the GST regime, the utility/ usefulness/ attractiveness of chapter 3 scrips MEIS/ SEIS has

A. Decreased

B. Remained same

C. Has reduced but the value for debit remains the same and hence usage is not effected
in a major way since GST for sale of scrips is now 0%
 D. Has increased

GST stands for?

A. Goods and Services Tax

B. Central Goods and Services Tax

C. State Goods and Services Tax

D. Integrated Goods and Services Tax

What is the turnover limit for a manufacturer to be eligible for payment of Goods and
Services Tax?

A. 10 Lakh

B. 20 Lakh

C. 75 Lakh

D. 50 Lakh

Which of the following is not benefits of GST as implemented in India?

A. Eliminating tax on tax effect

B. Product identification

C. One tax and Easy Compliance

D. Increasing Center Government power to Tax Collections

Let Export Order is endorsed on

A. L/C

B. Shipping Bill

C. Shipment Advice

D. Shipping Instructions

Which of the following Shipping Bill is filed for Duty Drawback Claims?

A. Shipping Bill under ATA Carnet

B. Shipping Bill for duty Free Goods

C. Shipping Bill for Dutiable Goods

D. Shipping Bill under Claim of Duty Drawback

Drawback claims are processed in how many months ...?

A. 90 days

B. 120 days

C. 150 days

D. 180 days

Drawback under section 75 are are also known as ...?

A. All Industry Rates

B. Same Industry Rates

C. Similar Industry Rates

D. Systematic Industry rates

Which of the following is proof of Imports?

A. Bill of Entry

B. Shipping Bill

C. Import Invoice

D. Packing List

In which of the following term the seller has to pay the Custom duty in importer's
country:

A. Ex- works

B. FAS

C. DDP

D. CIF

In which incoterm the buyer has to arrange the export licence:

A. DAT

B. DDP

C. CIF

D. Ex- works

Incoterms 2010 signify:

A. Payment Terms

B. Delivery Terms
C. Credit Terms

D. None of the above

Total No of Incoterms 2010 are

A. 9

B. 11

C. 13

D. 15

The following Incoterms puts the maximum liability on the supplier:

A. DAT

B. Ex-Works

C. FOB

D. DDP

The goods to be dispatched by air and the seller's responsibility is to pay the cost,
freight. The correct term would be:

A. CIF

B. CIP

C. CPT

D. CFR
In a CFR contract; it is

A. Not the responsibility of the seller to procure a contract of carriage for the shipped
goods.

B. The responsibility of the buyer to procure a contract of carriage for the shipped
goods.

C. The responsibility of the seller to procure a contract of carriage for the shipped
goods.

D. The responsibility of the Carrier to procure a contract of carriage for the shipped
goods.

Which Incoterm includes the price of transport to port of the importer's country and
getting goods unloaded

A. CIF

B. DAP

C. DAT

D. CFR

Which of these accurately describes DAP

A. FOB+ Shipping Freight+ Insurance upto destination place

B. a+ unloading charges

C. b+ customs charges

D. c+ transport to importer's premise

The following Incoterms puts the maximum liability on the supplier:

A. DAT
B. Ex-Works

C. FOB

D. DDP

Incoterms are needed to be understood by;

A. The Buyer's and sellers

B. The Bankers

C. The Lawyers

D. All of the above

Terms of Delivery (Incoterms) used in export contracting and pricing are prepared and
written by which of the following agency:

A. United Nations Conference on Trade & Agreement, Geneva

B. By the International Chamber of Commerce, Paris

C. Under the WTO Agreement as adopted from 1995

D. Under the United Nations Convention for the International Sale of Goods (Vienna
Convention)

Who among the followings shall be responsible for completing the "Export Formalities"
in CIF?

A. Seller

B. Consignor but not the seller

C. Buyer
 D. Third Party

Who among the followings shall be responsible for completing the "Import Formalities"
in FCA?

A. Seller

B. Consignor but not the seller

C. Buyer

D. Freight Forwarder

Where does delivery occur under the CPT Terms of Delivery?

A. Named port at origin

B. Named port at destination

C. Named place at destination

D. The buyer's facility at destination

Which of the following mode of transport can be used in case of CFR Incoterms based
contract between two parties in international trade transactions?

A. Only Sea and Inland Waterway Transport

B. Surface transport i.e. road and rail both

C. Surface and water transport

D. All Modes of Transport

In international logistics operations, Terms of Delivery (Incoterms) 2010 must be
incorporated into which of the followings?

A. Commercial Invoice

B. Negotiable bill of lading

C. Shipping bill

D. All the above

Who among the followings shall be responsible for completing the "Import Formalities"
in FOB?

A. Seller

B. Buyer

C. Consignee

D. Freight Forwarder

Where does delivery occur under the CIP Terms of Delivery?

A. Named port at origin

B. Named port at destination

C. Named place at destination

D. The buyer's facility at destination

Who among the followings shall be responsible for completing the "Export Formalities"
in FOB?

A. Seller

B. Buyer
C. Subject to buyer and seller mutual consent

D. Indian law governing goods transport

Which of the following mode of transport can be used in case of DAT Incoterms based
contract between two parties in international trade transactions?

A. Only Sea and Inland Waterway Transport

B. Only road transport

C. Only air transport

D. All Modes of Transport

As per Secion2 (e) of the India Foreign Trade (Development & Regulations) Act (1992), the
term export may be defined as :

A. ship the goods and services out of the port of a country

B. 'an act of taking out of India any goods by land, sea or air and with proper transaction
of money'.

C. selling goods and services produced in the home country to other markets

D. All of the above

If you wish to ask for any Policy clarification under the Foreign Trade Policy, from the
DGFT Headquarters, which is the form required to be filled and submitted either by e mail
or post or direct physical submission?

A. ANF2F

B. ANF3F

C. ANF4F
 D. There is no such provision in the policy

The Foreign trade policy and Procedures are updated and fine-tuned regularly, the best
and quickest place to look for most recent changes is

A. Dgft.gov.in

B. Gazette of India

C. Newspapers and periodicals on foreign trade

D. Direct enquiry from the Regional Authorities and DGFT offices

For customs entry into Japan, the ITC HS code digits in Japan is at

A. 16 digits

B. 14 digits

C. 9 digits

D. 12 digits

Which of the following schemes/ application process is completely online at the DGFT
portal, in the sense that no documentation in hard copy is required to be submitted or
collected to/ from the Regional Authority of DGFT?

A. IEC fresh issue and modification

B. MEIS/ SEIS Scrips

C. Advance Authorization

D. EPCG Scheme

Which of the following is used in order to avail IEC?

A. ANF

B. GNF

C. PNF

D. BNF

Which of the following document is must to avail IEC?

A. PAN card

B. Driving License

C. Aadhar Card

D. Voter ID card

How much is the fee to avail IEC?

A. Rs. 500

B. Rs. 250

C. Rs. 125

D. None of the above

Import/Export controls are imposed predominantly :

A. Because of restrictive policies of other countries.

B. To promote Make in India campaign

C. On account of security, public health, public morals and environment grounds.

D. All of the above

Why it is important for an agri exporter or importer to register with FSSAI?

A. Domestic rules and regulations are applicable to import transactions due to national
treatment clause

B. WTO mandates for parity between domestic and international market

C. Government of India has ordered it and it has to be done

D. All the above

Which of the following document is used to get the preferential or zero tariff in country of
imports?

A. Certificate of Inspection

B. Certificate of Origin

C. Certificate of Insurance

D. Importer Certification for Zero Duty Clearance

A useful website to quickly find out the tariff rates and also about the Free Trade
Agreements which India has with many nations is

A. Indian trade portal

B. IIFT website

C. Random google search for the country specific websites

D. No such information is available on the web

Why does Government Fix Floor Pricing for Exportable and Importable Products?
A. Ensures demand and supply equilibrium for domestic market

B. Intend to make more money by floor prices

C. Intend to stop traders from making more money

D. DGFT can allow any item for exports or import as per officer's choice

Advance Authorisation provides duty neutralization through

A. Cash

B. Duty Credit Scrip

C. Duty Exemption

D. Duty Remission

Duty Credit Scrips under MEIS are

A. Transferable

B. Non Transferable

C. Valid forever

D. All of the above

The list of Services which are eligible for Services Exports from India scheme is in
Appendix 3D of the Foreign Trade Policy. Under the SEIS scheme of current FTP, the
application by a service exporter can be made only once

A. Annually

B. Quarterly

C. Six monthly
 D. No time period has been mentioned under the procedures

An exporter has a manufacturing unit at a place in India. Which document under the
Foreign Trade Policy, would help him know the Jurisdictional Regional authority / office
for DGFT related work under the Foreign Trade Policy.

A. Appendix 1A

B. Appendix 1G

C. Appendix 2C

D. Appendix JL

If an exporter takes full advantage of all export related schemes for an exported item,
which includes, Advance authorization, GST refund on consumed material, MEIS benefit,
EPCG Scheme, GST amortization of capital goods etc, for every rupee of export
material's price, it is expected that the exporter can maintain a benefit of round

A. 15-20 paise per rupee

B. 5-10 paise per rupee

C. 2-3 paise per rupee only

D. There is no benefit as all these are not available now under GST regime

An exporter took EPCG authorization from a DGFT office but was unable to fulfil export
obligation in the required period even after importing the machine at reduced duty. The
options available for the exporter to close the authorization are

A. Pay duty plus interest on the total duty saved for the imported capital item

B. Apply for extension of the Export Obligation period within time as prescribed in the
Foreign Trade Policy

C. Both of the above

 D. None of the above, penalty is the only option

Why a Coffee exporter will take RCMC?

A. To export restricted items

B. To avail Government benefits

C. None of the above

D. A & B both

The fruits and vegetables exporter will take RCMC from which of following agency?

A. EPC

B. Wood Board

C. FIEO

D. APEDA

RCMC stands for?

A. Registration cum Memorandum Certificate

B. Registration cum Membership Certificate

C. Roll No. cum Memorandum Certificate

D. Roll No. cum Membership Certificate

Which of the following is not a notified Trade promotion Organization in India?

A. Tea Board
B. Germs & Jewellery Export Promotion council

C. Silk Development Board

D. Coconut Development Board

Amongst the RCA values of few mentioned products listed below; identify the product for
that fits most appropriate well for "Reflections of FTA"
Product/Market TII values
2009 2010 2011 2012 2013
Mango exports to EU 34.56 38.59 40.12 54.89 12.36
Basmati Rice to Middle East 22.46 0.22 3.4 36.45 0.56
Leather to LAC 2.9 20.21 34.76 35.67 39.28
Plastics to Korea 2.5 2.4 25.8 32.4 43.9

A. Mango exports to EU

B. Basmati Rice to Middle East

C. Leather to LAC

D. Plastics to Korea

The information about the companies ( or buyers) who import from a particular country
can be found in

A. Trade Map

B. Trade Atlas

C. Trading economics

D. Countryreports.org

For conducting market identification and trade potential analysis for your export product
over 2008-2017, the long time series data may be drawn from:
A. Trade Map

B. India Trade Portal

C. Standards Map

D. Market Access Map

The detailed account on the rules of origin provisions on your export product in a target
market can be obtained from:

A. Trade Map

B. World Trade Atlas

C. WITS database

D. India Trade Portal

The product standards imposed by private sector (e.g., supermarket chains) on your
export product in a particular country can be obtained with the help of:

A. Market Access Map

B. World Development Indicators

C. Standards Map

D. Export-Import Data Bank database

The fiscal incentives (e.g. duty drawback) provided by Indian authorities on your export
product for exporting to a particular target market can be obtained from:

A. Market Access Map

B. India Trade Portal

C. UN ESCAP database

D. Trade Map

The import tariff rates applied on your export product and other competitor countries in a
target market can be compared with the help of:

A. Trade Map and Market Access Map

B. World Trade Atlas and India Trade Portal

C. WITS database and Standards Map

D. UN ESCAP database

Export-Import is totally free with very limited restriction:

A. 96% items are free items

B. 90% items are free items

C. 99% items are free items

D. 80% items are free items

The items which falls in the Restricted Category of ITC (HS) for imports:

A. Cannot be imported at all

B. Can be imported against specific authorisation

C. No need to have permission if the item is not prohibited

D. None of the above

The ITC (HS) code for Imports has:

A. 100 Chapters

B. 96 Chapters

C. 98+1 Chapters

D. 97 Chapters

Referring to what; you will decide whether the item is permissible for Export or Import?

A. ITC HS Schedule 1 or Two

B. Custom Tariff Nomenclature Schedule 1 or Two

C. GSTIN Nomenclature

D. Duty Drawback Nomenclature

What do you mean by Canalized Import or Export?

A. Only government notified agency can import or exports

B. Any exporter with valid RCMC can import or exports

C. Any government enterprise can import or export

D. Item can never be imported or exported

Which of the following products is not restricted for imports?

A. 2933 41 00

B. 7404 00 11
C. 6310 90 40

D. 85013111

Which of the following products is under state trading enterprise (canalized) trade regime
for exports?

A. 0602 90 90

B. 1302 32 30

C. 3002 90 20

D. 2711 19 00

Referring to what; you will decide whether the item is permissible for Export or Import?

A. Custom Tariff Nomenclature Schedule 1 or Two

B. GSTIN Nomenclature

C. Duty Drawback Nomenclature

D. ITC HS Schedule 1 or 2

What do you mean by Canalized Import or Export?

A. Only government notified agency can import or exports

B. Any exporter with valid RCMC can import or exports

C. Any government enterprise can import or export

D. Item can never be imported or exported

Export of HS Code 2601 11 00 is allowed ...?

A. Export is freely allowed (OGL)

B. Export is restricted (SEL)

C. Export is Prohibited

D. Export allowed through MMTC Limited

What is the validity of IEC.

A. One Year

B. Five Year

C. Ten Year

D. Permanent

Which of the following agency issue IEC?

A. Controller of Export and Import

B. Indian Customs

C. Trade Promotion Organisation

D. DGFT
As per Secion2 (e) of the India Foreign Trade (Development & Regulations) Act (1992), the
term export may be defined as :

A. ship the goods and services out of the port of a country

B. 'an act of taking out of India any goods by land, sea or air and with proper transaction
of money'.

C. selling goods and services produced in the home country to other markets

D. All of the above

If you wish to ask for any Policy clarification under the Foreign Trade Policy, from the
DGFT Headquarters, which is the form required to be filled and submitted either by e mail
or post or direct physical submission?

A. ANF2F

B. ANF3F

C. ANF4F

D. There is no such provision in the policy

The Foreign trade policy and Procedures are updated and fine-tuned regularly, the best
and quickest place to look for most recent changes is

A. Dgft.gov.in

B. Gazette of India

C. Newspapers and periodicals on foreign trade

D. Direct enquiry from the Regional Authorities and DGFT offices

For customs entry into Japan, the ITC HS code digits in Japan is at
A. 16 digits

B. 14 digits

C. 9 digits

D. 12 digits

Which of the following schemes/ application process is completely online at the DGFT
portal, in the sense that no documentation in hard copy is required to be submitted or
collected to/ from the Regional Authority of DGFT?

A. IEC fresh issue and modification

B. MEIS/ SEIS Scrips

C. Advance Authorization

D. EPCG Scheme

Which of the following is used in order to avail IEC?

A. ANF

B. GNF

C. PNF

D. BNF

Which of the following document is must to avail IEC?

A. PAN card
B. Driving License

C. Aadhar Card

D. Voter ID card

How much is the fee to avail IEC?

A. Rs. 500

B. Rs. 250

C. Rs. 125

D. None of the above