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Foreign Exchange Series :: Set - 2



Test - 2


1                    Foreign currency travelers cheques are valid for _____from the date of issue

a)   1 year                                      b)         2 year
c)   5 year                                      d)         Infinite period

2                    While encashing FCTC, passport no. etc. will be noted down on _________

a)   Traveller cheque                      b)         Payment Voucher
c)   Zerox copy of TC                   d)         None of above

3                    After encashing the purchase transaction of FCTC, it will be entered in: ____________

a)   R-return                                   b)         XOS return
c)   BEF statement                                    d)         None of above

4                    In case of outward remittance through TTs/SFMSs/DDs, which form will be signed by applicant, if remittance is exceeding USD 500 for payment against imports?

a)   A 1                                          b)         A 2
c)   A 3                                          d)         A 4

5                    In case of outward remittance through TTs/SFMSs/DDs, which form will be signed by applicant, if remittance is exceeding USD 5000 for payment against non-imports?

a)   A 1                                          b)         A 2
c)   A 3                                          d)         A 4

6                    Before sale of FCTC, it should be ensured that the applicant holds a ticket for travel within _______days.

a)   15                                            b)         30
c)   60                                            d)         120

7                    Currency notes to Indians going abroad can be issued upto USD _____or its equivalent per person

a)   1000                                        b)         2000
c)   5000                                        d)         10000

8                    Authorised Dealers (ADs) can release foreign exchange upto a maximum of USD ________ for Business Visit
a)   10000                                      b)         15000
c)   20000                                      d)         25000


9                    ADs can issue upto USD 25000 for_______

a)   International Seminars            b)         Specialised Training
c)   Study Tour                              d)         All of above

10                For medical treatment abroad, ADs can issue foreign exchange upto USD _______ for patients without any estimate

a)   25000                                      b)         50000
c)   75000                                      d)         100000

11                For medical treatment abroad, ADs can issue foreign exchange upto USD ______ for attendants

a)   25000                                      b)         50000
c)   75000                                      d)         100000
12                For studies abroad to meet expenses towards tuition fee and books etc., ADs can issue foreign exchange upto USD _______ per academic year

a)   100000                                    b)         200000
c)   300000                                    d)         500000

13                ADs are empowered under FEMA to release foreign exchange upto USD _______ for employment abroad

a)   10000                                      b)         50000
c)   100000                                    d)         200000

14                For private visits to any country (except Nepal and Bhutan), ADs can release foreign exchange upto USD _______

a)   10000                                      b)         50000
c)   100000                                    d)         200000

15                Upto which amount, ADs can issue foreign exchange for the purpose of gifts to relatives abroad?

a)   USD 5000                               b)         USD 10000
c)   USD 15000                             d)         USD 25000

16                ADs can issue foreign exchange upto USD ______for meeting the maintenance expenses of close relatives residing abroad.

a)   1000                                        b)         5000
c)   10000                                      d)         100000


17                How much foreign exchange can be released by ADs for donations to charitable organizations abroad except natural calamities

a)   USD 1000                               b)         USD 5000
c)   USD 10000                             d)         USD 100000

18                FEMA has empowered ADs to issue foreign exchange for a maximum of USD _______ for subscription to newspaper and magazine etc.

a)   5000                                        b)         15000
c)   25000                                      d)         100000

19                How much foreign exchange can be released by ADs for remittance of Prize Money for sports?

a)   USD 25000                             b)         USD 50000
c)   USD 75000                             d)         USD 100000

20                Upto USD _______ per person can be released by ADs for emigration

a)   25000                                      b)         50000
c)   75000                                      d)         100000

 

 

                              KEYS


1          d          2          b          3          a          4          a          5          b         
            6          c          7          b          8          d          9          d          10        d
            11        a          12        a          13        c          14        a          15        a
            16        d          17        b          18        c          19        a          20        d

Foreign Exchange Series :: Set - 2 Reviewed by Manohar Veera on 8:07:00 PM Rating: 5

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