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Bank of India-Trade Finance-D3-S2

Total questions: 20

Worksheet time: 7mins

Name
Class
Date
1.

India's Overall Foreign trade performance as on Nov'22 shows a.............

a)

Trade surplus

b)

Trade deficit

c)

Export and Import level is at par

2.

For any individual or entity to under take foreign trade, the pre-requisite is........

a)

Have both export and Import orders

b)

have export orders only

c)

Possess a valid IEC code issued by DGFT

3.

Validity of the current FTP is extended upto..........

a)

30.12.2022

b)

31.03.2023

c)

30.6.2023

4.

An entity which has recorded an export earnings of FOB value USD 100 Mio is categorised under................

a)

3 star export house

b)

2 star export house

c)

4 star export house

5.

Exporter to realize and repatriate the full value of goods / software / services to India within ........... months from the date of shipment of goods.

a)

12

b)

15

c)

9

6.

An exporter who receives advance payment (with or without interest), from a buyer outside India should ship the goods within.......... from the date of receipt of advance payment.

a)

3 months

b)

12 months

c)

6 months

7.

Merchandise Exporters have to declare their exports to the Customs on the form..........

a)

EDF

b)

SDF

c)

A2

8.

Exporter has to submit the export documents to the Bank within............ days from the date of................

a)

10 days/shipment

b)

21 days/shipment

c)

15 days/shipment

9.

Remittances against imports to be completed not later than ........... months from the date of shipment,

a)

Twelve

b)

Three

c)

Six

10.

All imports under Deffered payment arrangement beyond a period of six months from date of shipment up to a period of less than five years are treated as ............. for which ............. guidelines are applicable

a)

Trade credit/ECB

b)

Normal import credit/RBI

c)

Long term credit/Bank's internal

11.

A Letter of credit is ........................... given by issuing Bank to the Beneficiary

a)

Guarntee

b)

Undertaking

c)

understanding

12.

Acronym UCPDC stands for ..................

a)

Uniform credits and procedures for Documentary credits

b)

Unique customs and process for Documentary credits

c)

Uniform customs and Practice for Documentary credits

13.

Banks extend credit to the exporter at the pre-shipment stage to the extend of............... value of export bill

a)

FOB

b)

CFR

c)

CIF

14.

Normally Banks extend ............... percent of the export bill at the post-shipment stage.

a)

50%

b)

70%

c)

100%

15.

Interest on Post-shipment finance is collected at............

a)

on the date of reversal of the credit entry in Nostro account

b)

the time of purchase/discount/negotiation-upfronty

c)

on realisation of proceeds into Nostro account

16.

Minimum Average maturity period for ECB loans is.........

a)

1 year

b)

5 years

c)

3 years

17.

SOFR (Secured Overnight Financing Rate) is the ARR applicable for FC loans denominated in.................

a)

JPY

b)

EURO

c)

USD

18.

Acronym SONIA stands for..............rate.

a)

Sterling Overnight Inter-bank Average

b)

Structured overnight Independent Average

c)

Strong Overnight Interdependent Average

19.

Maximum Quantum of borrowing under ECB automatic route is currently fixed at........

a)

USD 1 Mio

b)

USD 1.5 Bio

c)

USD 750 Mio

20.

Maximum amount per transaction permitted as Trade Credit is.......

a)

USD 150 Mio

b)

USD 100 Mio

c)

USD 50 Mio