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WorksheetsCOMP_3
Total questions: 50
Worksheet time: 25mins
Name
Class
Date
1.
Which act has modified the definition of Micro, Small and Medium enterprises engaged in manufacturing or production and providing or rendering of services
a)
MSME ACT
b)
Not available
2.
Which is correct about the Nodal officer for grievance redressal at Local Head Offices
a)
There will be an Assistant General Manager (Customer Service) at each LHO for coordinating with all the networks and Corporate Centre
b)
He shall bring the deficiencies if any, to the attention of the Chief General Manager (LHO) for rectification
c)
The Network Nodal Officer shall also ensure implementation of policies and instruction of BCSBI relating to the Bank’s Code of Commitments to customers
d)
All of the above
3.
Which is correct about Foreign Currency Convertible Bonds:
a)
It is a bond issued by an Indian Company expressed in foreign currency
b)
) the principal and interest of which is payable in foreign currency
c)
It can be subscribed by a non resident entity.
d)
All the above
4.
Who regulates import trade in India ?
a)
RBI
b)
AD category I banks
c)
DGFT.
d)
None of these
5.
Under Basel guideline the weighing factor for cash asset is……
a)
0
b)
0.05
c)
0.1
d)
1
6.
What is the time limit for getting proceeds against Exports
a)
Not later than 9 months from the date of Export
b)
Not later than 12 months from the date of Export
c)
Not later than 6 months from the date of Export
d)
There is no time limit
7.
Who can permit Drawal of foreign exchange for remittance for purchase of trademark or franchise in India
a)
AD Category-I banks
b)
All authorised persons
c)
Category-I & AD category II banks
d)
All of the above
8.
Which one of the following is not a feature of Basel III
a)
Better capital quality
b)
Capital conservation buffer
c)
Better customer service
d)
Countercyclical buffer
9.
A person resident in India while going out of India , may take out of India (other than from Nepal and Bhutan), the maximum amount of INR currency notes
a)
Maximum 50000
b)
Maximum 100000
c)
Maximum 10000
d)
Maximum 25000
10.
Which statement about third party payment forExport transactions are not correct
a)
Firm irrevocable purchase order backed tripartite agreement should be in place.
b)
AD bank should be satisfied with the bonafides of the transactions and should consider the Financial Action Task Force (FATF) Statement before handling the transactions
c)
The Invoice should contain a narration that the related payment has to be made to the (named) third party. Exporter should declare this in,.Export Declaration form.
d)
None of these
11.
In cases where an advance payment is received against exports, shipment of goods has to be made within what time from the date of receipt of advance?
a)
6 months
b)
1 year
c)
2 year
d)
None
12.
Up to what period extension to realize proceeds can be grantedat a time by AD category I bank::
a)
6 months
b)
4 Months
c)
3 months
d)
1 Month
13.
Exports are governed by following guidelines
a)
Foregn Trade Policy
b)
FEMA Act 1999
c)
Foreign Exchange Management (Current Account Transfer) Rules 2000
d)
All the above
14.
EDPMS stands for :
a)
Export Data Processing Monitoring System
b)
Export Delivery Payment Management System
c)
Export Impoert Data Payment Management System
d)
Export Delivery Processing Management System
15.
An exporter may write off maximum up to
a)
5% of total exports proceeds realized during previous calendar year
b)
10% of total exports proceeds realized during previous calendar year
c)
15% of total exports proceeds realized during previous calendar year
d)
None
16.
The facility of Payment through Online Payment Gateway Service Providers(OPGSPs)is allowed up to what amount:
a)
USD 1000
b)
USD 2000
c)
USD 4000
d)
USD 5000.
17.
India’s Trade with which ACU member country is settled outside ACU mechanism
a)
Pakistan
b)
Bangladesh
c)
Iran
d)
Shri lanka.
18.
ITRO credited through ECS
a)
Rs. 50,000/-
b)
upto Rs.25,000/-
c)
Rs.15,000/-
d)
None of these
19.
Which statement relating to BCSBI and RBI is correct
a)
The Code formulated by BCSBI does not replace or supersede regulatory or supervisory instructions issued by the Reserve Bank of India (RBI)
b)
Banks will comply with such instructions /directions issued by the BCSBI from time to time
c)
Only a
d)
Both a and b
20.
Which is not correct relating to refinancing of existing ECB with fresh ECB ?
a)
The fresh ECB is raised at a lower all-in-cost.
b)
Residual maturity is not reduced.
c)
Overseas branches/subsidiaries of Indian banks are permitted only to refinance ECBs of highly rated (AAA) corporates as well as Navratna and Maharatna PSUs, provided the outstanding maturity of the original borrowing is not reduced and all-in-cost of fresh ECB is lower than the existing ECB.
d)
d. Partial refinance of existing ECBs is not permitted
21.
If, after a bill has been negotiated or sent for collection, its amount is to be reduced for any reason, AD Category – I banks may approve such reduction, if satisfied about genuineness of the request, provided:
a)
The reduction does not exceed 35 per cent of invoice value:
b)
It does not relate to export of commodities subject to floor price stipulations
c)
The exporter is not on the exporters’ caution list of the Reserve Bank,
d)
The exporter is advised to surrender proportionate export incentives availed of, if any.
22.
Balances in Nostro accounts opened by AD I category banks for collection of proceeds of transactions done through OPGSPs should be should be repatriated within:
a)
10 days
b)
15 days
c)
7 days
d)
2 days.
23.
One of the conditions under which banks could offer PMS is
a)
The Bank should be able to provide the services on their own
b)
Not available
24.
Who should have the Password of Root/ Administrator / admin/ Super user of critical systems like OS of Server , Business Critical Apllications etc.
a)
the intended user
b)
Not available
25.
Import of which item does not attract time limit for effecting remittance
a)
aServices
b)
Books
c)
Gold
d)
Petroleum products
26.
How much foreign currency (cash) a person can bring into India without making a declaration to the Custom Authorities
a)
USD 10000 or its equivalent
b)
USD 3000 or its equivalent
c)
USD 5000 or its equivalent
d)
d) USD 15000 or its equivalent
27.
Which denomination INR currency note cannot be brought in India from Bhutan and Nepal ?
a)
50
b)
20
c)
500
d)
100
28.
In the case of a public Sector Company or a Department/ Undertaking of the Government of India/State Governments approval from the Ministry of Finance, GOI is needed for advance remittance exceeding
a)
USD 200000
b)
USD 500000
c)
USD 100000
d)
USD 1000000
29.
Up to what period interest on usance bills or overdue payments of imports can be paid :
a)
3 years
b)
2 YEARS
c)
1 YEAR
d)
6 Months
30.
In respect of imports on delivery against acceptance basis, how much time from the date of remittance can be allowed to an importer to submit evidence of import:
a)
6 months
b)
3 months
c)
1 month
d)
2 month.
31.
IDPMS stands for :
a)
Import Data Processing Management System
b)
Import Delivery Payment Management System
c)
Import Data Payment Management System
d)
Import Delivery Processing Management System
32.
In case of Import of Platinum/Palladium/Polished diamonds etc, the maximum period allowed under clean suppliers/Buyers credit
a)
90 days
b)
180 days
c)
270 days
d)
360 days
33.
The Exchange House are required to open a bank account in a convertible foreign currency in the name of the drawee bank (a/c - Exchange House) with an international bank acceptable to the drawee bank known as
a)
Non DDA account
b)
DDA account
c)
Rupee Vostro account
d)
Drawee Bank a/c
34.
The First Line Of Defence as per Banks OR Policy is
a)
Branches
b)
Not available
35.
Which of the following condition should be met for a trade to be treated as 'Merchanting Trade':
a)
Goods acquired should not enter the Domestic Tariff Area, and
The state of the goods should not undergo any transformation.
b)
Not available
36.
Which is not correct about Depository Receipt
a)
It is a negotiable security issued outside India
b)
It is issued by a Depository Bank on behalf of an Indian Company
c)
It represents Local rupee denominated equity shares of the company
d)
None of these.
37.
Facility of transit trade whereby goods are imported from third countries through India under the cover of Customs Transit Declarations is available to:
a)
Nepal
b)
Bhutan
c)
Bangladesh
d)
both a) and b)
38.
Head Offices / International Banking Divisions of AD Category - I banks are required to submit the half yearly and monthly statements relating to ‘Import of Gold’ under XBRL system
a)
by the 10th of the following month/half year
b)
by the 15th of the following month/half year
c)
by the 7th of the following month/half year
d)
by the 30th of the following month/half year
39.
While offering referral services, the Bank should strictly adhere to the relevant _____ guidelines.
a)
SEBI
b)
RBI
c)
IRADA
d)
TRAI
40.
Up to what period extension to realize proceeds can be grantedat a time by AD category I bank::
a)
1 year
b)
2 year
c)
6 months
d)
None
41.
Deferred payment arrangements (including suppliers and Buyers credit) up to how much time are considered as trade credits:
a)
1 Year
b)
3 Year
c)
5 Year
d)
None of these
42.
When can Application for guarantee cover be lodged with the CGTMSE for creditfacilities sanctioned in a particular calendar quarter
a)
at the end of the next calendar quarter
b)
No after the disbursement immediately
c)
Any time within that financial year
d)
After the sanction of loan
43.
Which is true about the discretionary portfolio manager?
a)
wherein a portfolio manager is
defined as any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or
administration of a portfolio of securities or the funds of the client, as the case may be. (page 613 of manual)
b)
Not available
44.
What is the all-in-cost ceiling for raising Trade credits over 6 month LIBOR
a)
300 bps
b)
350 bps
c)
250 bps
d)
No cap prescribed
45.
What is the minimum amount under RTGS transaction for customer to customer?
a)
Rs 2 lakhs
b)
Not available
46.
The prescribed All-in-cost does not include :
a)
Rate of interest
b)
Commitment fees
c)
Other fees and expenses
d)
Guarantee fee
47.
LRN stands for:
a)
Loan Repayment Number
b)
Loan Registration Number
c)
Loan Regulation Number
d)
Loan Retention Number
48.
Who may be appointed as Banking Ombudsman
a)
DGM of RBI
b)
GM of RBI
c)
CGM of RBI
d)
Both (A) & (B)
49.
What is the normal security margin for the loan above Rs. 5.00 lacs under MSME segement
a)
0.1
b)
Not available
50.
In Which form , ECB can not be raised under automatic route?
a)
Bank Loan
b)
FCCB
c)
FCEB
d)
Financial Lease
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