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Foreign Exchange Series :: Assignment - 7



ASSIGNMENT – 7 (IB) 


1                    PCFC/EBR transactions pertaining to Non-Designated Branches will be reported in R-Return of ________

a)   Non-Designated Branch         b)         Designated Branch
c)   FD Kolkatta                            d)         Respective LHO

2                    Gross Interest Earnings received by Designated Branch on PCFC/EBR transactions of Non-Designated Branch will be transferred by the designated branch to ______

a)   Non-Designated Branch         b)         Respective LHO
c)   FD Kolkatta                            d)         Retained by Designated Branch

3                    Income received by Designated Branch on account of Forex Remuneration and handling/processing charges pertaining to PCFC/EBR transaction of NDB will be transferred to ________

a)   Non-Designated Branch         b)         Respective LHO
c)   FD Kolkatta                            d)         Retained by Designated Branch

4                    Statement of PCFC will be sent to FD Kolkatta at ______interval

a)   Fortnightly                              b)         Monthly
c)   Quarterly                                 d)         Half-yearly

5                    Statement of bills discounted under EBR will be sent at fortnightly interval to

a)   RBI                                         b)         FD Kolkatta
c)   FICCI                                     d)         Finance Ministry

6                    Letter of Credit are subject to various articles of _______

a)   N.I.Act                                                b)         UCPDC 500 (1993)
c)   Company’s Act                       d)         None of above

7                    In case of Letter of Credit, opening bank provides _________
a)   Cash Credit                             b)         Term Loan
c)   Undertaking to pay                 d)         Bank Guarantee

8                    Revolving Letter of Credit means amount of credit is subject to ______

a)   Transferability                         b)         Renewal without amendment
c)   Security of another L/C          d)         Advance to beneficiary before
shipment


9                    Red Clause Letter of Credit refers to special clause authorizing for _______

a)   Transfer                                   b)         Renewal without amendment
c)   Security of another L/C          d)         Advance to beneficiary before
                                                                  shipment

10                Green Clause Letter of Credit refers to special clause authorizing for ______

a)   Transfer                                   b)         Renewal without amendment
c)   Security of another L/C          d)         Advance to beneficiary upto
                                                                  shipment

11                Back to Back Letter of Credit refers to special clause that L/C is issued with _________

a)   Transferability                         b)         On security of another L/C
c)   Renewal                                  d)         Advance to beneficiary upto
                                                                  shipment
12                RBI approval for opening the Letter of Credit is to obtained if the tenor of Bills of Exchange exceeds _____days from the date of Bill of Lading

a)   60                                            b)         90
c)   180                                          d)         360

13                Import Letter of Credit opened is advised and restricted for negotiation to _

a)   Our Foreign Office                 b)         Banks with agency arrangements
c)   FD Kolkatta                            d)         None of above

14                The terms of an irrevocable Letter of Credit can be amended if ______agree

a)   Beneficiary                              b)         Applicant
c)   Opening Bank                         d)         All of above

15                If documents are not received within _____days after validity date, the documentary credit will be deemed as expired

a)   15 days                                    b)         One month
c)   Two months                            d)         Six months

16                Supplier’s Credit refers to credit for ______into India extended by overseas suppliers with a maturity less than 3 years

a)   Export                                     b)         Import
c)   Both (a) & (b)                         d)         None of above

17                Buyer’s credit refers to loans for payment of imports in to India arranged by importer’s bank or financial institution with a maturity less than _____

a)   One year                                  b)         Two years
c)   Three years                              d)         Five years


18                Buyer’s credit and Supplier’s credit for 3 years and above comes under the category of _______

a)   L/C                                          b)         ECB
c)   B/G                                         d)         None of above

19                The settlement of funds in SBI’s Supplier’s Credit Product is done within _____days of shipment

a)   60                                            b)         90
c)   180                                          d)         360

20                Buyer’s Credit can be arranged by our branches for the importer’s client by issuing ___________favouring our Foreign Offices/Foreign Banks

a)   Guarantee                                b)         Letter of Undertaking (LOU)
c)   Letter of Comfort (LOC)       d)         All of above

 

                                        KEY TO ASSIGNMENT – 7 (IB) 


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

Foreign Exchange Series :: Assignment - 7 Reviewed by Manohar Veera on 8:16:00 PM Rating: 5

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