Sample Questions
 

 

1. Under which of these circumstances does product liability not apply?

A. In case of negligence
B. In case of smuggling
C. Under the principle of strict liability
D. Under express/implied warranties

2. The bank which finally collects the documents and claims reimbursement is called?

A. Advising bank
B. Confirming bank
C. Paying bank
D. Negotiating bank

3. When exporter avails post-shipment credit in foreign country, what is taken as the benchmark for the interest rate ?

A. Benchmark Lending Rate
B. MIBOR
C. LIBOR
D. Indian Bank Rate

4. Which of these is not an essential service provided by C&F agents?

A. Warehousing before transportation
B. Selection of mode of transport
C. Cargo Insurance
D. Warehousing after transportation

5. The endorsement of "Allowed to export under claim for excise rebate" on the ARE-1 form is made by the

A. DGFT
B. First Mate
C. Deck Sergeant
D. Range supritendent

Answers

1 (B)

2 (D)

3 (C)

4 (D)

5 (D)

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