Foreign Trade Policy

61

Which of the following is not a mode of payment in exports?

A) Current Account B) Payment in Advcance C) Open Account D) Letter of Credit

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Answer & Solution

Answer: Option A

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62

Which of the following are the benefits to the country receiving FDI?

A) Capital inflow B) Resource transfer effect C) Inflow of technology and managerial skills D) All of the above

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Answer & Solution

Answer: Option C

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63

The basic objective of Export Promotion Councilis to promote and develop the exports of the

A) particular products of country B) only attractive projects of the country C) only services industry products of the country D) overall exports of the country

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Answer & Solution

Answer: Option D

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64

The quota that restricted trade in textiles was known as

A) GATS B) TRIMS C) MFA D) TRIPS

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Answer & Solution

Answer: Option C

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65

A single common initial application called 'Aayaat Niryaat Form' was developed by

A) ECGC B) IIFT C) NIC D) DGFT

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Answer & Solution

Answer: Option D

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66

Which of the following are called Bretton Woods Twins?

A) IMF and International Bank for Reconstruction and Development (IBRD) B) IMF and World Trade Organisation C) IBRD and World Trade Organisation D) None of the above

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Answer & Solution

Answer: Option A

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67

Which of the following conditions lead to non-issue of trademark in India?

A) The trademark does not have any distinctive character or there is difficulty in distinguishing between the goods and services B) Is of such a nature that it can mislead or deceive the public or give rise to confusion C) Comprises of scandalous matter if any matter that hurt the religious feelings D) All of the above

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Answer & Solution

Answer: Option D

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68

Match the following.

List-I	List-II
a. Duty Drawback Scheme	1. The exporter can claim any custom duty paid by him on the import of consumables, are material and central excise duty paid
b. DFIA	2. It allows duty free import of energy sources, catalysts, oil, inputs etc that are required to produce goods for export
c. MAI	3. The focus is placed on a product and efforts are made to evolve a specific market for particular goods
d. ASIDE	4. This is formed to motivate the State Governments to promote exports of their respective states

A) a-2, b-1, c-4, d-3 B) a-4, b-3, c-2, d-1 C) a-1, b-2, c-3, d-4 D) a-1, b-4, c-2, d-3

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Answer & Solution

Answer: Option C

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69

Which of the following statement is not correct regarding the membership of the IMF?

A) Currently its membership is 189 B) All member countries of IMF are sovereign states C) All member countries of the IMF are sovereign states D) Nauru is the latest member of the IMF

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Answer & Solution

Answer: Option B

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70

Which of the following is/are example(s) of tariff barriers?

A) Ad valorem B) Specific tariff C) Voluntary Export Restraint (VERs) D) All of the above

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Answer & Solution

Answer: Option D

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