International Business Part 2

NCERT Solution

MCQ Answers

Question 1: Which of the following documents are not required for obtaining an export license?

  1. IEC number
  2. Letter of credit
  3. Registration cum membership certificate
  4. Bank account number

    Answer: (b) Letter of credit

Question 2: Which of the following documents is not required in connection with an import transaction?

  1. Bill of lading
  2. Shipping bill
  3. Certificate of origin
  4. Shipment advice

    Answer: (c) Certificate of origin

Question 3: Which of the following do not form part of duty drawback scheme?

  1. Refund of excise duties
  2. Refund of customs duties
  3. Refund of export duties
  4. Refund of income dock charges at the port of shipment

    Answer: (d) Refund of income dock charges at the port of shipment

Question 4: Which one of the following is not a document related to fulfill the customs formalities

  1. Shipping bill
  2. Export license
  3. Letter of insurance
  4. Proforma invoice

    Answer: (d) Proforma invoice

Question 5: Which one of the following is not a part of export documents?

  1. Commercial invoice
  2. Certificate of origin
  3. Bill of entry
  4. Mate’s receipt

    Answer:(c) Bill of entry

Question 6: A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as

  1. Shipping receipt
  2. Mate receipt
  3. Cargo receipt
  4. Charter receipt

    Answer: (b) Mate receipt

Question 7: Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper’s name, the number of packages, the shipping bill, port of destination, name of the vehicle carrying the cargo?

  1. Shipping bill
  2. Packaging list
  3. Mate’s receipt
  4. Bill of exchange

    Answer: (d) Bill of exchange

Question 8: The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is

  1. Letter of hypothetication
  2. Letter of credit
  3. Bill of lading
  4. Bill of exchange

    Answer: (b) Letter of credit

Question 9: Which of the following does not belong to the World Bank group?

  1. IBRD
  2. IDA
  3. MIGA
  4. IMF

    Answer: (d) IMF

Question 10: TRIP is one of the WTO agreements that deal with

  1. Trade in agriculture
  2. Trade in services
  3. Trade related investment measures
  4. None of these

    Answer: (d) None of these

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