Export Import

We’ve compiled a list of the most common and frequently asked Export Import interview questions. If you want to ace your job interview, then make sure you master these answers to these challenging questions below. This guide is perfect for anyone interviewing for a Export Import jobs.



Q.1 State whether the following statement holds True or False. "The page with the details of the shipment is the 1st page of a bill of lading."
No, it is false
Q.2 State whether the following statement holds True or False. "There is no difference between LCL cargo and Consolidation cargo."
No, it is false
Q.3 What describes the term DDP?
Delivered Duty Paid
Q.4 What is the term Stale B/L?
A bill of lading which has passed the time deadline of the L/C and is void.
Q.5 What signifies the term Ex-Works?
Seller's responsibility ends at their premises once cargo is made ready for loading by the buyer
Q.6 State whether the following statement holds True or False. "Clean on Board, Shipped on Board & Received for Shipment bill of lading are essentially the same."
No, it is false
Q.7 What differentiates between a Max Payload and Max Gross Weight of a container?
Max Payload is the maximum permitted weight of cargo and packing material allowed to be packed inside a container whereas Max Gross Weight is the weight of the cargo plus the Tare Weight of the container.
Q.8 What doe you understand by EmS & MFAG when dealing with Hazardous Cargoes?
Ems = Emergency Schedule and MFAG = Medical and First Aid Guide
Q.9 Which side of the container is indicated by the following line “towards the nose of the container”?
Towards the inside of the container
Q.10 What does Place of Receipt and Final Destination in a bill of lading indicate?
it indicates that the shipping line is responsible for the pre-carriage and on-carriage and for any claims from door to door
Q.11 Let us suppose there are 2 seals on a container, one on the right door and other on the left door. Then which of the seal number must an agent take into account as important?
Right Door
Q.12 Define CONRo.
Conventional and RORO Ship.
Q.13 What Documents are formally needed to export a vehicle?
An Invoice and Owner Certificate
Q.14 What do you understand by CMR?
A consignment note that confirms that the carrier (i.e. the road haulage company) has received the goods and that a contract of carriage exists between the trader and the carrier.
Q.15 Who is a Ship Broker?
A specialist intermediaries between ship-owners and the charterers who use ships to transport cargo, or between buyers and sellers of ships.
Q.16 What is RO-RO Concept?
Roll On - Roll Off
Q.17 What is LASH?
Lighter Aboard Ship
Q.18 What do you understand by clean bill of lading?
Clean bill of lading is a bill signed by the transportation company. The primarily objective of bill of lading is to check the process of shipment in the good and appropriate conditions.
Q.19 An AWB or BL is issued by the
carrier of the goods
Q.20 What is the Certificate of Origin?
Certificate of Origin is a type of documents in which the certification of the merchandise is made as the origin of the country.
Q.21 What is the first step in processing export order
Ready the product
Q.22 According to you what are the responsibilities of manager imports?
Sample Answer - The key responsibility of the Import/Export Manager involves production planning and expediting; materials management; transportation; shipping, receiving and traffic management. Also the Import/Export Manager is also responsible to manage the import and export compliance programs to make sure all import and export activities comply with government laws and regulations.
Q.23 Commercial Invoice is prepared by the
exporter
Q.24 What are the job responsibilities of a Import and Export Manager?
Some of key responsibilities of an Import/Export Manager are - 1. To manage the development, implementation and maintenance of import and export compliance policies and procedures. 2. To develop and execute risk assessments of import and export compliance programs to ensure that all sites follow established policies and procedures. 3. To oversee all import and export activities 4. To ensure compliance with laws and regulations 5. To consult with legal experts to resolve any legal compliance issues or concerns. 6. To conduct training on government laws, rules and regulations as they pertain to organizational products, services and technologies.
Q.25 Bill of exchange is generated by the
exporter
Q.26 Who is a consignee?
Consignee is a firm, person or representative, to whom a shipper or seller sends merchandise. Consignee is considered as the owner of the merchandise for the reason of the imbursement of customs duties.
Q.27 When does a packing list is mandatory
If there is more than one item to be exported
Q.28 Letter of Credit is issued by the
buyer's bank
Q.29 IEC Code is unique _______ digit code
10
Q.30 What should be reviewed on Receiving an Export Order
Confirm if the product specification is the same as what you deal in and check if – the importer requires additional documentation, any specific packing, labeling and marking requirements or other compliance requirements of the destination country., There should be no discrepancy between the terms of the export order and the ones offered by you in your proforma invoice/contract. and Find out who is responsible for the insurance of the consignment.
Q.31 What is an disadvantage to exporting
Financial management effort needed to minimize the risk of exchange rate fluctuation , International customers demand more services from their vendor like installation and start-up of equipment, maintenance or more delivery services and The management might tap in some of the organizational pitfalls, like poor selection of overseas agents or distributors or chaotic global organization
Q.32 Direct selling to a foreign country can be done by
distributors, foreign retailers and end users and over the Internet
Q.33 What is the function of a freight forwarder
offer expert advice to the exporter on various logistics-related expenses such as freight expenses, port expenses, consular fees, documentation costs, insurance fees, cost of merchandise, etc., They arrange the booking of cargo space on ship, plane, train, or truck. and They coordinate the insurance of the goods and do the necessary follow-up in case of an accident.
Q.34 What is the most important criteria to select a freight forwarder
Experience, Network in the Market and Tie Ups with recognized international associations
Q.35 What is a part of Export Planning
Seek good advice – and test your Export Plan with advisers., Review the Export Plan regularly with your staff and advisers. and Assign responsibility to staff for individual tasks.
Q.36 What is not a part of Export Planning
creating a bulky document that remains static., Using unrealistic timelines. and Not creating scenarios for changed circumstances
Q.37 What is an geographical factor for market selection
Country, state, region,, Time zones, and Urban/rural location logistical considerations e.g. freight and distribution channels
Q.38 What is an economic and legal factor for market selection
Labelling standards, Standards and consumer protection rules and Duties and taxes
Q.39 What is an demographic factor for market selection
Age and gender, Cultural beliefs and income and family structure
Q.40 What is an market characteristic factor for market selection
Market size, Availability of domestic manufacturers and Presence of agents, distributors and suppliers.
Q.41 Which one of the following sets of countries contains only members of the European Union?
France, Spain, Switzerland, United Kingdom
Q.42 A deterioration of a nation’s terms of trade causes the nation’s welfare to ____________.
deteriorate
Q.43 Direct investment is which of the following?
The development of foreign-based assembly or manufacturing plant.
Q.44 The member countries of WTO have moved a "Product Patent Regime" under
TRIPs
Q.45 Eurodollars are
Deposits
Q.46 What is the simplest mechanism of entering a foreign market?
Licensing agreement is the simplest mechanism of entering a foreign market
Q.47 What is the impact of Increase in the dollar price of a foreign currency
It will benefit U.S. importers
Q.48 What is the validity of an IEC Number when alloted?
An IEC Number is valid for 2 years
Q.49 What is the role of freight forwarder?
Freight forwarders perform a number of functions on behalf of the exporter. They provide specialized help in the exporter’s warehouse to the importer’s warehouse by undertaking the procedural and documentary formalities lie helps in packing, marking and labeling of consignment, arrangement for transport to the port arrangement for shipment overseas, and customs clearance of cargo, procurement of transport and other documents. However, the main function of the agent is to obtain customs clearance of goods, ship them and procure the relevant transport document (Bill of Lading or Airway Bill).
Q.50 What is irrevocable letter of credit?
An irrevocable letter of credit is a financial instrument used by banks to guarantee a buyer's obligations to a seller. It is irrevocable because the letter of credit cannot be modified unless all parties agree to the modifications.
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