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CAIIB BFM Test Quiz Module A Set 1 (141-160) | CAIIB materials for December 2016

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CAIIB BFM Test Quiz Module A Set 1 (141-160) | CAIIB materials for December 2016


CAIIB BFM MODULE - A SET -1


141 The LC which facilitates financing to the supplier prior to shipment is known as __________LC.
a) Red clause   b) Transferable        c) Revocable       d) Irrevocable



142 An LC that can be transferred in favour of another beneficiary is called __________ LC.
a) Transferable      b) Back to back   c) Red clause      d) Revocable



143 When an LC is opened for procurement of goods, on the backing of an export LC, it is called __________
a) Back — to — Back LC. 
b) Transferable
c) Revocable
d) Irrevocable



144 The insurance must be of _____ % of the invoice value, if not specifically provided in the LC.
a) 50%                   b) 100%                c) 110%                 d) 120%



145 The importer is required to submit ________ evidencing import of goods into India.
a) BEF                    b) ETX                   c) Bill of Entry                     d) XOS



146 Reimbursement claim must not be presented _______days prior to due date for claiming reimbursement.
a) 7                         b) 10                      c) 21                       d) 30


147 The reimbursing bank charges are normally on account of__________ bank.
a) Advising      b) Confirming       c) Negotiating          d) Issuing



148 The exporter is required to submit the export documents, along with the copy of GR/PP/SDF form with in __________  days from the date of shipment to an authorized dealer.
a) 5                         b) 10                      c) 21                       d) 30



149 The exporter is required to apply in form __________ for permission for extension of time limit for realization of export proceeds.
a) BEF                    b) ETX                   c) XOS                   d) SDF




150 An exporter unit in SEPZ, can retain 100 per cent of the export proceeds in his __________ account with the AD.
a) NRE                   b) NRO                                 c) RFC                    d) EEFC




151 Finance allowed to an exporter, to fund the needs procurement of raw material, manufacturing and up to the stage of packing and shipment, is called __________  finance.
a) Export       b) Post Shipment             c) Pre — shipment



152 Normally the total period allowed for PCL should not exceed __________ days.
a) 21                      b) 30                      c) 180                    d) 365



153 PCL advance should be liquidated on submission of relative export bills, by way of allowing __________ finance against those bills.
a) Export            b) Post - Shipment        c) Pre — Shipment



154 Post-shipment finance is essentially an advance against  __________
a) Stock          b) Documents         c) Receivables           d) Security


155 In case of rupee finance, the bills is to be purchased / discounted /negotiated at appropriate __________ rate
a) T.T. buying         b) Bill buying         c) T.T. selling        d) Bill selling



156 _________of documents takes place, when export documents, are drawn under Letter of Credit.
a) Collection       b) Transfer          c) Exchange        d) Negotiation



157 The NTP allowed at present is generally __________days for all foreign currency export bills.
a) 7                         b) 15                      c) 25                       d) 30



158 In case of non-realisation of a export bills purchased 1 discounted, the same should be usually crystalised on the _________day from the NDD.
a) 5                         b) 7                       c) 10                       d) 30



159 The present interest cap for PCFC/EBR for 180 days is Libor plus `_________%
 a) 3.50                 b) 2.50                 c) 2.00                   d) 0.75



160 Factoring and forfeiting are the two other methods of financing  __________.
a) Import                             b) Exports



Answers to Above Questions:-

141
A
145
C
149
B
153
B
157
C
142
A
146
B
150
D
154
C
158
D
143
A
147
D
151
C
155
B
159
C
144
C
148
C
152
C
156
D
160
B



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