Foreign Trade (FEX)
Foreign Trade (FEX)
23. LIM is a-
a). Post import financing technique
b). Pre import financing technique
c). Pre shipment financing, d). Post shipment financing to the exporter
24. Which one of the following is most preferable to the exporter?
a). Open Account
b). Documentary collection
c) Cash in advance
d). Documentary credit
25. Documentary collection is relatively risky for-
a). Exporter
b). Importer
c). Buyer
d). Beneficiary
26. Commercial Invoice is issued by-
a). Applicant
b). Beneficiary
c). Importer
d). Exporter
27. In LC process the nominated bank is-
a). Advising bank choice
b). Importer’s choice
c). Reimbursing bank choice
d). Exporter’s choice
28. URR 725 is the regulatory framework for-
a). Reimbursement
b). Documentary collection
c). Reimbursement in LC operation
d). Cash in advance
29. Charges of the advising bank is commonly beard by
a). Issuing bank
b). Exporter
c). Importer
d). Nominated bank
30. Who are the main parties of a confirmed credit-?
a). Issuing bank
b). Confirming bank
c). Beneficiary
d). All of above
31. Which one of the following is not party of documentary credit?
a). Issuing bank
b). Confirming bank
c). Beneficiary
d). The applicant
32. What triggers settlement order documentary credit?
a). Evidence of shipment of goods
b). Letter of introduction
c). Handing over the documents to an applicant
d). Presentation of complying documents by the beneficiary
33. An exchange rate is the price of-
a). Local currency in terms of foreign currency
b). Foreign currency in terms of Local currency
c). Other currency expressed in terms of another currency
Foreign Trade @iq_4
d). All of these
ADDITIONAL QUESTIONS:
6. How many sections are there in the Foreign Exchange Regulation Act 1947: 27
15. Export policy & Import policy are issued for: 3 years
31. How many methods are using in import trade? Four (04)
32. Packing Credit is a popular means of
36. For purchase of foreign currency for import payment, application must be made to AD
in which of the following for? IMP
37. Major RMG export from Bangladesh to Europe
38. Which one is not included in funded credit? LC
39. Which of the following belongs to pre-shipment credit?
Back to Back LC
40. Generally, which bank makes initial payment to the exporter after receiving the
documents? The Negotiating Bank
41. L/C is an undertaking of making payment given by
Opening Bank to Consignor
42. What does ‘UPAS’ stand for
Usance Payment At Sight
43. Exp Form 02 Set
44. Annual travel quota for release of foreign currency in a calendar year is?
USD 12000
45. An incoming passenger can bring
Up to US$. 5,000.00 Without declaration
46. Travelling Quota for SAARC USD5000/- outside SAARC USD7000/-
47. What is the initial amount for the persons other than non-resident Bangladeshis to
open a NFCD A/c?
USD25000
48. FMJ Reporting: For
USD more 5000 (Cash Carrying) (FOREX Related)
49. ERQ stands For
Exporters’ Retention Quota
50. Shipping Documents means?
All documents except DRAFT
51. In case of export, single customer exposure may be 50% of banks total capital.
52. Up-to what percentage an exporter can retain Foreign Currency in ERQ Account?
10%
53. Limit of EDF-20 million for single borrower
54. Inco Terms published by –ICC (International Chamber of Commerce)
68. Which of the following is not among the main/core parties of LC-
Advising Bank
69. As per CFR term, who covers the cost of main carriage-
Exporter
70. Forex return statement represents
Total foreign Exchange transaction
AD : Authorized Dealer