Which of the following are called commercial documents as per ADS? 1. Certificate of insurance 2. Insurance declaration 3. Certificate of inspection of quality control 4. Receipt for payment of port charges 5. Preform invoice 6. Shipment advice 7. Export application dock challan Select the correct answer

Which of the following are called regulatory documents as per ADS?
1. Bill of Export (Shipping bill)
2. Receipt for payment of port charges
3. Proforma invoice
4. Shipment advice
5. Certificate of origin
6. GR form
7. Export application dock challan
Select the correct answer

A

1, 2, 3, 4, 6, 7

B

3, 4, 5, 6, 7

C

1, 2, 6, 7

D

1, 2, 3, 4, 5

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

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

Which of the following documents are required in export documentation?
1. Commercial invoice
2. Guaranteed remittance (GR) form
3. Certificate of measurement
4. Certificate of inspection
5. Freight declaration
6. Shipping bill
7. Consular invoice
8. Certificate of origin
9. Bill of lading
10. Mate's receipt
Select the correct answer

A

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

B

1, 2, 6, 7, 8, 9, 10

C

1, 2, 4, 5, 6, 7, 10

D

All of the above

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.

A

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

B

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

C

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

D

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

Which of the following documents are required in export documentation?1. Airway bill and transport documentation
2. Guaranteed Remittance (GR) form
3. Certificate of measurement
4. Certificate of inspection
5. Freight declaration
6. Shipping bill
7. Bill of import
8. Certificate of origin
9. Bill of lading
10. Mate's receipt
Select the correct answer

A

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

B

1, 2, 6, 7, 8, 9, 10

C

1, 2, 4, 5, 6, 7, 10

D

All of the above

Consider the below statements. (i) Inspection is the process of measuring the quality of a product or service in terms of established standards. (ii) Inspection is the art of comparing materials, products or performances with established standards. (iii) Inspection is the art of applying tests, preferably by the aid of measuring appliances to observe whether a given item of product is with n the specified limits of variability. (iv) Inspection is not a tool for controlling the quality of the product. Which of the above statements are correct?

A

i, ii

B

i, v, iv

C

i, ii, iii, iv

D

ii, i, iii

S₁: A man handed a pair of trousers to the departmental store-clerk and said,"I'd like these altered, please".
P: He said that free alteration is not possible without a receipt.
Q: The man said,"Okay, I'd like to return the trousers". The clerk took them back and returned his money.
R: The man pushed the money and said,"Now I want to buy them". The clerk put the trousers in a bag, issued receipt and handed him both.
S: The clerk asked for the sales receipt but after searching his pockets the man replied that he had lost it.
S₆: Triumphantly he put the trousers and the receipt on the counter and said,'I'd like to have these altered, please."

The Proper sequence should be:

A

PSQR

B

PSRQ

C

QRPS

D

SPQR

Statement : Exporters in the capital are alleging that commercial banks are violating a Reserve Bank of India directive to operate a post shipment export credit denominated in foreign currency at international rates from January this year.

Courses of Action :
I. The officers concerned in the commercial banks are to be suspended.
II. The RBI should be asked to stop giving such directives to commercial banks.

A

Only I follows

B

Only II follows

C

Either I or II follows

D

Neither I nor II follows

E

Both I and II follow

Select the correct answer of the following statements
Statement (I): A Global Depositary Receipt (GDR) is a bank certificate issued in more than one country for shares in a foreign company.
Statement (II): A GDR is similar to American Depositary Receipt (ADR).
Statement (III): GDRs are called EDRs when private markets are anempting to obtain euros.

A

Statements (I), (II) and (III) are correct

B

Statements (I) and (II) are correct, but (III) is incorrect

C

Statements (I) and (III) are correct, but (II) is incorrect

D

Statements (II) and (III) are correct, but (I) is incorrect