Q1. What are INCO terms? Explain all INCO terms indicating the responsibility of the buyer and seller at various stages of the export cycle.
Q2. Examine the steps involved in processing of an export order.
Q3. Examine the steps involved in Custom Clearance of Export Cargo.
Q4. Discuss various methods that are used for making payment in International Trade
Q5. What are the features of Export Processing Zones / Special Economic Zones? How are they helpful in promoting export from India?
Q6. What is EPCG scheme? What are the main provisions in the scheme? How has the scheme helped in promoting export from our country?
Q7. Describe various principal and auxiliary documents used in International trade.
Q8. Write short notes on any three of the following.
a) Bill of lading
b) FEMA
c) INCOTERMS
d) Types of Shipping Bill
e) Role of Clearing and Forwarding Agent
Case Study
Export Incentives
You are an exporter of Gold and Diamond Jewellery in India. Approximately 85% of your product is sold in the domestic market and 15% is being exported. You are not availing any kind of incentive for your exports.
Now you want to upgrade your production facility and also wish to avail the incentives given to the exporter under FTP.
1 Prepare a feasibility report to make your products more competitive in the export market by ava
iling the provisions in the Foreign Trade Policy
MCQ
1. Special Economic Zones were created to—A Boost manufacturing , Augment exports & Generate employment
2. Under Advance License goods imported cannot be used in the unit of – d
3. Which of the following is not a major function of Export Promotion Council (EPC)? D Provide pre shipment finance
4. The WTO Agreement on agriculture provides for—d
5. According to the Foreign Trade Policy of 2009-2014 Advance Authorizations necessitate exports with a minimum value addition of—A 15%
6. Sale by EOU to SEZ units is treated as—B Deemed Export
7. Which of the following is not a duty exemption / remission scheme? C EPCG
8. Foreign Trade Policy aims to act as an effective instrument of economic growth by giving thrust to – B Employment Generation
9. Special Economic Zones will locate in areas which will be technically treated as – A Foreign Territory for applicability of domestic legislations
10. What does FOB stand for? A free on board
11. Free Alongside Ship (FAS) means – B The seller has to pay for the transport until the goods are being unloaded at the port of destination
12. B The seller pays all the costs and bears the risk until the goods have been delivered on his side of the border.
13. Match the definition with the INCO terms.
“The seller pays the transport costs up to the port of shipment. He bears the risk until the goods have passed the ship’s rail at the port of shipment.” — d FAS
14. Which terms are cheapest for the seller?— B EXW
15. Which of the following statement about EXW is true? A The buyer pays transport costs from the seller’s premises on.
16. Which of the following is a regulatory Document? D GR Form
17. In case of payment through open account, payment is made—B In advance before delivery of goods
18.
19. In case of payment under D/A, goods are delivered—B After payment is made
20. Which of the following document is issued by the Mate Chief Officer of the ship to acknowledge the loading of cargo on the ship? A Mate’s Receipt
21. As per the provisions in the Foreign Trade Policy of India, Minimum size of the SEZ shall not be less than 1000 hectares accept—D SEZ set up by state government
22. Unless other wise specified in a Letter of Credit which is issued subject to UCPDC 500 and also UCPDC 600, documents must be presented for negotiation within —— days from the date of shipment. A 10 days
23. Which of the following is not true regarding an AWB? B It is a document of title to goods.
24. Premier Trading House should have minimum export performance of Rs.________.C 5000 Crs
25. Under Market Development Assistance Government does not provide—C Foreign travel
26. Vitamin –A as a drug can be canalized through–. B ITPO
27. Which of the following is not a type of letter of credit? C Moving Letter of Credit
28. Exports and Imports come under the purview of—B Ministry of Commerce
29. Export Promotion Capital Goods scheme helps in promoting through—D Export of capital goods
30. Objective of DEPB is to—B Neutralize incidence of customs duty on import content of export product
31. Tripur in Tamil Nadu is Town of Export Excellence for—A Hosiery Products
32. Main objective of Served from India Scheme is to promote export of—A Services
33. Objective of VKGUY is to promote exports of—B Minor Forest Produce and their value added variants
34. DGFT helps in promoting export from India by—
35. Pro forma invoice describes—B value of the goods
36. Consular Invoice is—B Prepared as per the format of the customs authority of the importing country
37. An EOU may opt out of the scheme with approval of – A Development Commissioner
38. Market Development Assistance is given to Exporters having annual Export turnover up to Rs.________. 15CR
39. A whole range of activities that can be funded under MAI scheme includes—A Setting up of showroom / warehouse
40. To encourage State Governments to participate in promoting exports financial assistance is administered by Department of Commerce (DoC) to—A Developing infrastructure such as roads connecting production centers with ports,
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