Arrange the following in correct sequence of post shipment procedure in exportation process. 1. C and F agent submits the documents to the exporter. 2. Exporter intimates the importer about the shipment of goods. 3. Submission and negotiation of documents with bank. 4. Bank negotiates these documents to the importer's bank in the manner as specified in the letter of credit. 5. Documents are attested with the bill of exchange 6. The exporter gets immediate payment from his bank after signing letter of indemnity. 7. Importer receives the documentary bill of exchange, he releases the payment. 8. After receiving proceeds the exporter intimates the RBI by recording the facts on duplicate copy of GR. 9. The exporter receives subsidies and concessions if he is eligible.

Arrange the following in correct sequence of pre-shipment export procedure.
1. Approaching foreign buyers
2. Inquiring and making an offer
3. The letter of credit is opened by the importer
4. Exporter obtains ta pre-shipment finance
5. Exporter arranges for the production
6. Exporter then properly packs and marks the goods with details
7. Exporter then contacts the Export Inspection Agency (EIA) to obtain a inspection certificate
8. Exporter then seeks for exemptions under central excise duty
9. Exporter then obtains the insurance cover under the ECGE
10. Exporter appoints a Clearing and Forwarding (C & F)

A

1, 2, 3, 5, 4, 6, 7, 8, 9, 10

B

10, 9, 1, 2, 3, 4, 5, 6, 7, 8

C

1, 2, 3, 4, 5, 6, 7, 8, 9, 10

D

9, 10, 2, 3, 4, 5, 6, 7, 8, 1

Arrange the following in correct sequence of shipment procedure in the exportation process.
1. The exporter reserves the required space in the vessel for shipment.
2. The exporter issues detailed instructions to the C and F agents.
3. Exporter makes arrangements for the transportation of goods to the port.
4. Necessary documents are submitted to the custom appraiser at the Custom House.
5. C and F agent obtains the Carting Order to move the cargo inside the dock.
6. Custom Examiner physically examines the shipment and then seals the packages in his presence.
7. Goods are then loaded in the ship and the Mate issues a Mate's Receipt to the Port Superintendent.

A

1, 2, 3, 4, 5, 6, 7

B

1, 3, 2, 4, 5, 6, 7

C

1, 4, 2, 3, 5, 6, 7

D

1, 2, 3, 4, 6, 5, 7

Which of the following is/are true about Bill of Exchange?
1. A bill of exchange requires in its inception two parties.
2. A bill of exchange or 'draft' is a written order by the drawer to the drawee to pay money to the payee.
3. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date.
4. Definition of 'Bill of Exchange' is mentioned in Section 6 of the Negotiable Instrument Act.

A

1 and 4

B

1, 2 and 4

C

2 and 3

D

3 and 4

An Indian exporter is required to fulfil which of the following requirements in order to register himself as an exporter?
1. Opening bank account with current account with a commercial bank under RBI.
2. Registrations with GST and other tax authorities.
3. Obtaining Importer-Exporter Codenumber (lEC), it is a unique 10 digit code i.e. issued by DGFT, Ministry of Commerce.
4. Obtaining Permanent Account Number.

A

1, 2, 3

B

2, 3, 1

C

1, 2, 4

D

All of the above

Which of the following statements are not correct in relation to pre-shipment credit in foreign currency?
Statement I It is a foreign currency loan available, both, to the importers and exporters.
Statement II It is self-liquidating in nature and can be liquidated by purchasing/discounting of bills.
Statement III Refinance from RBI is available to banks against pre-shipment credit in foreign currency.
Statement IV The interest rare shall not exceed 1.75% above six months, LIBOR for the initial period of one month.

A

Statements I, II and III are not correct

B

Statements I, III and IV are not correct

C

Statements II and IV are not correct

D

Statements II and III are not correct

When the Exchange Bank sends all the documents to its branch in the importer's country with the instruction to deliver the shipping documents to the importer against the receipt of money from him, such documents are known as:

A

D/A

B

Letter of Credit

C

D/P

D

Foreign Bill of Exchange

Consider the following information and answer questions based on it. Six students Lily, Mary, July, Daisy, Rosy and Fairy are sitting in a circle facing each other such that - 1. Mary sits to the immediate right of July. 2. Lily does not sit near Fairy. 3. The student sitting on the immediate left of July, sits to the immediate right of Fairy. 4. Rosy does not sit to the immediate right of Mary. If July leaves the circle, then who will be sitting to the immediate right of Lily?

A

Fairy

B

Rosy

C

Daisy

D

Cannot be determined

Consider the following information and answer questions based on it. Six students Lily, Mary, July, Daisy, Rosy and Fairy are sitting in a circle facing each other such that - 1. Mary sits to the immediate right of July. 2. Lily does not sit near Fairy. 3. The student sitting on the immediate left of July, sits to the immediate right of Fairy. 4. Rosy does not sit to the immediate right of Mary. ___ sits to the immediate left of Lily.

A

Daisy

B

Mary

C

Rosy

D

July

Directions : Following question consists of a statement followed by three arguments I, II and III . You have to decide which of the arguments is a STRONG arguments and which is a WEAK Argument.

Statement : Should all the students graduating in any discipline desirous of pursuing post-graduation of the subjects of their choice be allowed to enrol in the post-graduate courses?

Arguments :
I. Yes. The students are the best judge of their capabilities and there should not be restrictions for joining post-graduate courses.
II. No. The students need to study relevant subjects in graduate courses to enrol in post-graduate courses and the students must fulfil such conditions.
III. No. There are not enough institutes offering post-graduate courses which can accommodate all the graduates desirous of seeking post-graduate education of their own choice.

A

None is strong

B

Only I and II are strong

C

All are strong

D

Only I and III are strong

E

None of these

S₁: The commonest form of forgetfulness, I suppose, occurs in the matter of posting letters.
P: So common is it that I am always reluctant to trust a departing visitor to post an important letter.
Q: As for myself, anyone who asks me to post a letter is a poor judge of character.
R: Even if I carry the letter in my hand I am always past the first pillar box before I remember that I ought to have posted it.
S: So little I rely on his memory that I put him on his oath before handing the letter to him.
S₆: Weary of holding it in my hand, I then put it for safety into one of my pockets and forget all about it.

The Proper sequence should be:

A

PRQS

B

PSQR

C

QSPR

D

RQSP