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ITOD Q1 Dumps

1. The document contains 16 multiple choice questions about international trade terms and concepts. 2. It addresses topics like the differences between commercial invoices and other documents, applicable INCOTERMS, responsibilities and risks associated with different terms, and duties that apply on imports to India. 3. The questions have a single correct answer among 5 options for each, with the answers provided at the end.

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Dolly Mangla
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62 views4 pages

ITOD Q1 Dumps

1. The document contains 16 multiple choice questions about international trade terms and concepts. 2. It addresses topics like the differences between commercial invoices and other documents, applicable INCOTERMS, responsibilities and risks associated with different terms, and duties that apply on imports to India. 3. The questions have a single correct answer among 5 options for each, with the answers provided at the end.

Uploaded by

Dolly Mangla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Q.No.

Question Options Answer

1. True

3. -
Proforma Invoice is same as
1. 2
commercial invoice
4. -

5. -

1. True

2. False

Commercial Invoice could be


2. 3. - 1
different from Shipping Invoice

4. -

5. -

1. True

2. False
Mate's Receipt could be used for
3. collecting payment between buyer 3. - 1
and seller

4. -

5. -

1. True

2. False

Third party Inspection of goods


4. 3. - 2
exported from India is compulsory

4. -

5. -

1. 45 per cent
Minimum Value addition for an FTA
5. 3
certificate of origin is
2. 25 per cent
3. 35 per cent

4. 10 per cent

5. -

1. Invoice

2. Packing list

Customs Linking Document for


6. 3. Certificate of Origin 4
exports in India

4. Shipping bIll

5. -

1. Shipping line

2. Customs house Agent/Broker

Service provider for customs


7. 3. Freight Forwarder 2
clearance is

4. Airline

5. -

1. DDP

2. CIF

Maximum Risk and costs for buyers


8. 3. EXW 1
is in the following INCOTERM

4. FOB

5. -

1. True

FOB is a term applicable for


9. 2. False 2
aircargo also

3. -
4. -

5. -

1. True

2. False
INCOTERMS are in cast in stone for
10. international purchases and no 3. - 2
other method can be used

4. -

5. -

1. True

2. False
The risk changes to buyers at
11. destination port in the case of CIF 3. - 2
term

4. -

5. -

1. EXW

2. DDP
In the case of international vendor
12. managed inventory the most likely 3. FAS 2
INCOTERM will be

4. CIF

5. -

1. Excise Duty

2. State VAT

In India additional duty of customs


13. 3. Cess 1
is equivalent to

4. Octroi

5. -
1. True

2. False

Anti dumping duty has approval in


14. 3. - 1
GATT (WTO)

4. -

5. -

1. True

2. False
UN organizations/Embassies when
15. import materials into India are 3. - 2
obligated to pay duties as per tariff

4. -

5. -

1. -

2. -

16. - 3. - 0

4. -

5. -

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