BFM UNIT : 5 Facilities for Exportors and Importors

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1. Foreign exchange is controlled by ?
Ans- RBI

2. Foreign Trade is controlled by ?
Ans- DGFT

3. DGFT Full form?
ans- Directorate General of Foreign Trade

4. EXIM policy is implemented by whom??
Ans- DGFT

5. IEC Full Form ?
Ans- Importor Exportor Code

6. Which code is necessay for importors and exportors?
Ans- IEC Code

7. EDF full form?
Ans- Electronic Declaration Form

8. Export of software is done in which form?
Non physical form
Physical form
Ans..non physical form

9. EDF replaced what ??
Ans-GR form

10. The commissioner of customs will handover which document in the form of EDF to authorized dealer?
Ans-Exchange control copy

11. Upto what amount goods accompnied by a declaration by the exportor are exempted from export declaration form?
Ans- 5 lakh rupees in value

12. The exportor is required to submit the export documents along with the duplicate /exchange control copy of EDF form within how many days if import?
Ans- 21 days

13. The amount representing the full export value of goods or services exported shall be realised and repatriated to India within how much time from the date of export?
A. 1 year
B. 9 months
C. 21 days
D. 2 years
Ans- b

14. EOU full form?
Export orinted units

15. EHTP full form?
Ans- Electronics Hardware Technology Park

16. STP and BTP are defined where?
Ans - Foreign Trade Policy

17. STP full form?
Ans - Software Technology Parks

18. BTP full form?
And- Bio Technology Parks

19. ACU full form?
Ans- Asian Clearing Union

20. Name of ACU countries?
Ans- Bangladesh,Burma Myanmar,Islamic Republic of Iran ,Pakistan,Sri Lanka,repulbic of Maldives

21. Export Declaration Form used for banks, other than by post are called:
a. PP Forms
b. PR Forms
c. EDF Forms
d. RR Forms
Ans- c

22. Payments are received by ADs in the form of a special dollar accounts in case of ACU countries. which of the following is such a currency :
a. ACU Dollar Only
b. ACU Pound Only
c. ACU Euro Only
d. ACU Dollar/ ACU Euro
Ans- d

23. The export declaration form used for software in non physical form is :
a. SE1
b. SE2
c. Softex
d. Software
e. COD
Ans- c

24. A status holder can avail the normal repatriation period for export proceeds to India up to :
a. 365 days
b. 300 days
c. 270 days
d. 225 days
e. 200 days
Ans- a

Correct me for any any mistake .