IMPORTANT QUESTIONS WITH ANSWERS - IGNOU : MCOM : IBO 4 - EXPORT-IMPORT PROECEDURES DOCUMENTATION

IMPORTANT QUESTIONS & ANSWERS

IGNOU MCOM

IBO 4 - EXPORT-IMPORT PROECEDURES DOCUMENTATION

UNIT - 1

1. Describe the major acts related to the foreign trade in India.

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2. Explain the procedures of registration formalities and export licensing.

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3. Describe the general provisions for exports and imports.

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4. Explain the major provisions of exports.

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5. Describe the major provisions of imports.

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6. Write short notes on:  i) Deemed exports  ii) Foreign Trade (development and Regulation) Act, 1992  iii) Duty Exemption Scheme  iv) Duty Remission Scheme.

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                                                                            UNIT - 2

1. Discuss the duties of an exporter under FOB and CIF contract.

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2. Describe the major legal implications of FOB contract.

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3. Do you think that contribution is better than litigation? Discuss.

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 UNIT - 3

1.  "In export-import trade people are dealing in documents and not in goods". Critically examine this statement.

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2. What are the major commercial documents? Write major characteristics of Bill of lading and Bill of exchange.

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3. Describe the essential requirements in preparing the Commercial Invoice.

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4. Describe major documents needed by the importing countries.

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5. Explain the main export incentives in India and the documents needed to claim them.

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UNIT - 4

1. How EDI is different from Electronic Commerce?

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2. Why EDI has become a necessity for International Trade?

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3. What is EDIFACT? What are the other EDI standards?

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4. What is the role of VAN? 

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5. What kind of strategic advantages an Export house may get through EDI ?

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                                                                             UNIT - 5

1. Describe the steps involved in the receipt, examination and confirmation of an export order.

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2. What are the documents needed for i) Central Excise Clearance and ii) Securing Inspecting Certificate? 

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3. What are the supporting documents to be submitted along with the shipping Bill for getting customs permission for exports?

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4. What are the three stages  at which customs permission to export is obtained? 

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5. Describe the formalities for claiming duty Drawback.

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UNIT - 6

1.  Discuss the mechanism of realizing payment under letter of credit arrangements. Enumerate its advantages from the point of view of both exporter and importer.

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2. What precautions should an exporter take while exporting under Letter of Credit arrangements ?

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3.  What is the method of realizing payments under Documents Against Acceptance. Discuss? How does it differ from that of Documents Against Payments? 

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UNIT - 7

1. What do you mean by exchange control ? Describe the broad objectives of exchange control.

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2. Explain various provisions related to regulation and management of foreign exchange. 

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UNIT - 8

1. What is the purpose of extending packing credit to exporters? Explain the procedures of packing credit.

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2. What do you mean by Pre-shipment finance? Enumerate the methods of Pre-shipment finance. Describe the procedure of  Pre-shipment credit in foreign currency.

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3. What is post -shipment finance? Explain various methods of post-shipment finance.

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4. Explain the procedures of export under Deferred payments.

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5. Describe the role of Export Import Bank of India.

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6. Write short notes On:  i) Pre-shipment Credit In Foreign Currency ii) Post Shipment Credit in Foreign Currency iii) Buyer's Credit iv) Factoring v) Forfaiting

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UNIT - 9

1. Evaluate the services provided by the ECGC to the exporters. 

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2. Describe the different kinds of policies and financial guarantees issued by the ECGC.

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3. "Credit is a major weapon of international competition but it involves risk." Discuss. 

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4. What is the nature of the risks faced by the international marketer in financing his operations and granting credit to his customers ? What are the means available in India to handle these risks ?

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 UNIT - 10

1. What is Importing financing? Describe the regulatory framework related to import financing.

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2. Explain various exchange control regulations concerning imports.

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3. Enumerate the methods of import finance. Describe the procedure of financing import under letter of credit.

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4. Explain various methods of import finance along with the documentation procedure.

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5. Write notes on: 

i) Financing against bill under collection

ii) Financing under foreign currency

iii) Import loan by Ex-Im Bank of India

iv) Financing under deferred payment arrangement

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UNIT - 11

1. What are the advantages of containerization? 

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2. Distinguish between Liner and Tramp shipping services. 

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3. What are various forms of chartering of the shipping services? Explain.

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4. What are the needs of shipping conference? How does it help in export business?

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5. What are the roles of clearing and forwarding agents in export trade? Discuss. 

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                                                                           UNIT - 12 

1. Why cargo insurance is needed ? Explain with suitable examples.

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2. Describe various types of perils in cargo insurance policy against which insurance cover can be obtained. 

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3. What are the responsibilities of the insured in a cargo insurance policy?

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4. Enumerate the documents needed for filing the cargo insurance claims.

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UNIT - 13

1. Describe various stages involved in the shipment of export cargo. 

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2. Describe the procedures of obtaining excise rebate under excise rebate policy. 

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3. Describe various stages involved in customs clearance. 

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UNIT - 14

1.  What do you mean by IGM and B/E? Explain in detail types of B/E and Differences therein. 

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2.  Describe various types of bills of entry. What documents are to be enclosed with Bill of Entry ?

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3.  Write short notes on the following: 

        a) Stages of customs clearance of import cargo

        b) EDI  (Electronic Data Interchange) 

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UNIT - 15

1. Analyze the role and functions of the institutions assisting export-marketing effort at product Industry level. 

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2. Discuss the institutions providing technical and specialized services to the export sector in India.

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3. Describe the institutions set-up for Government policy making and consultation for export promotion in India.

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4. Analyze the objectives of institutional set-up for export promotion in India.  

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UNIT - 17

1. Analyse the need for action-plan by an exporter for timely and proper compliance with different formalities for claiming export incentives.

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2. Explain the procedure for: 

     a) fixation of brand-rate for duty drawback. 

     b) making a claim of duty drawback on exports. 

     c) claim of duty drawback under 'duty drawback credit scheme'. 

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