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50 questions · timed · auto-graded

MCQ 11 Mark
Which of the following media provides export incentives?
  • A
    World bank
  • B
    Merchant bank
  • Merchant agreement
  • D
    Merchants
Answer
Correct option: C.
Merchant agreement
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MCQ 21 Mark
What kind of receipt does the captain of the ship issue to the exporter when there is no proper packing of the goods?
  • Foul receipt
  • B
    Clean receipt
  • C
    Incomplete receipt
  • D
    Torn out receipt
Answer
Correct option: A.
Foul receipt
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MCQ 31 Mark
In India, which bank regulates foreign exchange?
  • A
    Local bank
  • B
    Commercial bank
  • Reserve bank
  • D
    Agriculture bank
Answer
Correct option: C.
Reserve bank
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MCQ 41 Mark
Who issues the shipping order?
  • A
    Captain of the ship
  • Shipping Company
  • C
    Owner of the ship
  • D
    Reserve bank
Answer
Correct option: B.
Shipping Company
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MCQ 51 Mark
Name the certificate that states the country in which the goods were produced.
  • A
    Consular invoice
  • Certificate of origin
  • C
    Shipping order
  • D
    Letter of credit
Answer
Correct option: B.
Certificate of origin
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MCQ 61 Mark
Who issues the bill of lading to the exporter?
  • A
    Insurance company
  • Shipping company
  • C
    The captain of a ship
  • D
    Bank
Answer
Correct option: B.
Shipping company
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MCQ 71 Mark
Foreign exchange is obtained through which type of trade?
  • Export Trade  
  • B
    Import Trade
  • C
    Internal Trade
  • D
    Regional Trade
Answer
Correct option: A.
Export Trade  
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MCQ 81 Mark
What is the letter known on which the importer describes the details of the order?
  • A
    Input
  • B
    $OGL$
  • C
    $L/C$
  • Indent
Answer
Correct option: D.
Indent
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MCQ 91 Mark
Name the agreement made between shipping company and exporter to book the whole ship on the rent ?
  • A
    Indent Agreement
  • B
    Agreement of the Branch
  • Charter Party agreement
  • D
    Export Agreement
Answer
Correct option: C.
Charter Party agreement
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MCQ 101 Mark
Name the document that the bank issues to the importer against the payment of the bill as per the instructions given by the exporter.
  • A
    $D/A$
  • $D/P$
  • C
    $OGL$
  • D
    $L/C$
Answer
Correct option: B.
$D/P$
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MCQ 111 Mark
What is called the trade of one country with other countries?
  • A
    Local Trade
  • B
    Regional Trade
  • C
    National Trade
  • International Trade.
Answer
Correct option: D.
International Trade.
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MCQ 121 Mark
Who gives bill of lading to the exporter?
  • A
    Insurance Company
  • Shipping Company
  • C
    Captain of the ship
  • D
    Bank
Answer
Correct option: B.
Shipping Company
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MCQ 131 Mark
If the products other than the government approved one want to import, whom does he send, application ?
  • A
    Reserve Bank of India
  • B
    Foreign Minister $1$
  • Import Trade Directorate
  • D
    Custom Department
Answer
Correct option: C.
Import Trade Directorate
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MCQ 141 Mark
Through which of the following export incentive is provided?
  • A
    World bank
  • B
    Commercial bank
  • Trade Agreement
  • D
    Through traders
Answer
Correct option: C.
Trade Agreement
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MCQ 151 Mark
Where was General Agreement on Trade and Tariff done?
  • A
    $U.S.A.$
  • B
    Bretain
  • C
    Moscow
  • Geneva
Answer
Correct option: D.
Geneva
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MCQ 161 Mark
Which of the following is not included in Special Economic Zone?
  • A
    Free Trade Zone
  • B
    Industrial Estate
  • Mine Area
  • D
    Free Ports 
Answer
Correct option: C.
Mine Area
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MCQ 171 Mark
In which year the law regarding Special Economic Zone $(SEZ)$ was passed in parliament?
  • A
    Year $2001$
  • B
    Years $2003$
  • C
    Year $2002$
  • Year $2005$
Answer
Correct option: D.
Year $2005$
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MCQ 181 Mark
How many countries have joined World Trade Organization?
  • A
    $150$ Countries
  • $140$ Countries
  • C
    $135$ Countries
  • D
    $168$ Countries
Answer
Correct option: B.
$140$ Countries
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MCQ 191 Mark
Which of the following is not considered incentive for financial and economic motivation for export?
  • A
    To make the income from export is tax free
  • To give benefit to establish factory
  • C
    To provide export-oriented products - resources at low cost.
  • D
    Direct rebate to export
Answer
Correct option: B.
To give benefit to establish factory
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MCQ 201 Mark
Due to international trade which of the following can be imported?
  • A
    Foreign Technology
  • B
    Modem Management
  • C
    Research
  • All mentioned here
Answer
Correct option: D.
All mentioned here
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MCQ 211 Mark
Who of the following does not issue the Certificate of Origin?
  • A
    Merchant $($Trade$)$ Association
  • Collector
  • C
    Chamber of Commerce
  • D
    Government
Answer
Correct option: B.
Collector
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MCQ 221 Mark
What type of receipt does the captain of the ship give to the exporter if the packing of the goods is not proper ?
  • Foul Receipt
  • B
    Read Receipt
  • C
    Incomplete Receipt
  • D
    Black receipt
Answer
Correct option: A.
Foul Receipt
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MCQ 231 Mark
Who is called 'mate' on ship?
  • Representative of the captain of ship
  • B
    Rubber seat of ship
  • C
    Rubber type of Ship
  • D
    Engineer of the ship
Answer
Correct option: A.
Representative of the captain of ship
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MCQ 241 Mark
What does insurance company give when the exporter pays the amount of premium suggested by the insurance company?
  • A
    Insurance Policy
  • B
    Written receipt
  • Cover Note
  • D
    Letter of thanks
Answer
Correct option: C.
Cover Note
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MCQ 251 Mark
What happens if the goods are not shifted from bonded go down?
  • Demurrage $($rent$)$ is paid
  • B
    Goods is forfeited
  • C
    Goods is destroyed
  • D
    Goods is auctioned
Answer
Correct option: A.
Demurrage $($rent$)$ is paid
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MCQ 261 Mark
Who endorses the bill of lading after paying freight of the goods imported?
  • A
    Captain of the ship
  • Shipping Company
  • C
    Reserve Bank
  • D
    Officer
Answer
Correct option: B.
Shipping Company
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MCQ 271 Mark
Which of the following detail is not included in the 'Indent' of the $U.K$. Euro porter $E?$
  • Trade mark of the exporter
  • B
    Details of goods
  • C
    Price of the goods and insurance
  • D
    Name of the transport company
Answer
Correct option: A.
Trade mark of the exporter
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MCQ 281 Mark
What is the motive of presenting the certificate of the origin of goods?
  • To get relief in excise
  • B
    To assure quality
  • C
    To prevent adulteration
  • D
    To gain prestige
Answer
Correct option: A.
To get relief in excise
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MCQ 291 Mark
Who controls foreign exchange?
  • A
    Finance Department
  • Reserve Bank of India
  • C
    State Bank of India
  • D
    Foreign Trade Department
Answer
Correct option: B.
Reserve Bank of India
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MCQ 301 Mark
In which of the following area Free Trade Zone $(FTZ)$ is not established in India?
  • Sanjan $($Surat$)$
  • B
    Falta
  • C
    Dahej $($Bharuch$)$
  • D
    D.Santa Cruz $($Mumbai$)$
Answer
Correct option: A.
Sanjan $($Surat$)$
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MCQ 311 Mark
In $1948 \ GAAT$ was signed among how many countries ?
  • A
    $50$ nations
  • B
    $26$ nations
  • C
    $34$ nations
  • $23$ nations
Answer
Correct option: D.
$23$ nations
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MCQ 321 Mark
Foreign Trade Department
  • A
    Permanent exporters
  • B
    Recognized exporters
  • C
    Registered exporters
  • Established exporters
Answer
Correct option: D.
Established exporters
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MCQ 331 Mark
To whom one has to apply to obtain import license?
  • A
    To the Central government
  • B
    To the State government
  • To the Directorate of import-export
  • D
    To the Ministry of commerce of government
Answer
Correct option: C.
To the Directorate of import-export
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MCQ 341 Mark
Which are the risks of trade through marine?
  • A
    Sea robbers
  • B
    Sinking of goods
  • C
    Variation of climate
  • All mentioned here
Answer
Correct option: D.
All mentioned here
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MCQ 351 Mark
In which year General Agreement on Trade and Tariff was signed?
  • $1948$
  • B
    $1950$
  • C
    $1945$
  • D
    $1955$
Answer
Correct option: A.
$1948$
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MCQ 361 Mark
Since which year World Trade Organization has commenced its functions?
  • A
    Year $1985$
  • B
    Year $1990$
  • Year $1995$
  • D
    Year $1998$
Answer
Correct option: C.
Year $1995$
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MCQ 371 Mark
Which of the following document exporter does not send to the bank of the importer through his exporter's bank ?
  • Indent
  • B
    Bill of lading
  • C
    Chamber of Commerce
  • D
    Bills
Answer
Correct option: A.
Indent
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MCQ 381 Mark
Which of the following statements is not true?
  • A
    Three copies are made of the bill of lading
  • B
    Out of which two copies are sent to the exporter
  • C
    Out of which one copy is retained by the shipping company
  • One copy is sent to the importer
Answer
Correct option: D.
One copy is sent to the importer
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MCQ 391 Mark
What is called the permission to load the goods on ship?
  • A
    Bill of lading
  • B
    Charter Agreement
  • C
    License
  • Carting Order
Answer
Correct option: D.
Carting Order
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MCQ 401 Mark
To whom the application is sent to obtain export license?
  • A
    To custom Department
  • To Commerce Department
  • C
    To Foreign Department
  • D
    To Port Authority
Answer
Correct option: B.
To Commerce Department
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MCQ 411 Mark
Which of the following is not showed in the register of Bill of Entry?
  • A
    Name of the importer
  • B
    Name of the exporter
  • C
    Name of the ship
  • Name of the captain of the ship
Answer
Correct option: D.
Name of the captain of the ship
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MCQ 421 Mark
What does the bill of lading document suggest?
  • A
    Bill of the goods
  • B
    Defect of goods
  • Ownership of goods
  • D
    Amount to be paid for goods
Answer
Correct option: C.
Ownership of goods
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MCQ 431 Mark
In which currency it is showed in foreign trade and for that which currency is required?
  • A
    Indian Rupee
  • American Dollar
  • C
    British Pound
  • D
    $U.K$. Euro
Answer
Correct option: B.
American Dollar
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MCQ 441 Mark
Which of the following incentives Is not avail to the units of export in Special Economic Zone ?
  • A
    Exemption from Custom Duty
  • Exemption from Vehicle Tax
  • C
    Exemption from Service Tax
  • D
    Exemption from Central Sales ""tax
Answer
Correct option: B.
Exemption from Vehicle Tax
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MCQ 451 Mark
In which year Special Economic Zone $(SEZ)$ law was in enforced?
  • $10^{th}$ Feb. $2006$
  • B
    $10^{th}$ Jan. $2008$
  • C
    $1$st March $2007$
  • D
    $15^{th}$ April $2008$
Answer
Correct option: A.
$10^{th}$ Feb. $2006$
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MCQ 461 Mark
Which of the following is not included in non-economic incentives for export promotion?
  • A
    To give information of export market.
  • B
    To give required information about export.
  • To give protection against variation in exchange rate
  • D
    Competition among exporters
Answer
Correct option: C.
To give protection against variation in exchange rate
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MCQ 471 Mark
Whose responsibility is to provide incentives for export?
  • Government
  • B
    Commercial banks
  • C
    State Bank
  • D
    Public Company
Answer
Correct option: A.
Government
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MCQ 481 Mark
Countries carrying out international trade are benefitted by which of the following?
  • A
    Transportation
  • B
    Quality
  • C
    Time Saving
  • Division of Labour
Answer
Correct option: D.
Division of Labour
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MCQ 491 Mark
What is called the certificate which shows the Origin of the making of the product ?
  • A
    Consulate Invoice
  • Certificate of Origin
  • C
    Shipping Order
  • D
    Credit certificate
Answer
Correct option: B.
Certificate of Origin
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MCQ 501 Mark
What is called a letter which shows the details of import?
  • A
    Input
  • B
    $OGL$
  • C
    $C/C$
  • Indent
Answer
Correct option: D.
Indent
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MCQ - OCM STD 11 Commerce Questions - Vidyadip