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CBSE Questions for Class 11 Commerce Business Studies International Business Quiz 3 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
International Business
Quiz 3
The EXIM Bank is owned by ________________.
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The Government of India
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World Bank
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International Monetary Fund
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Reserve Bank of India
WTO is considered as a ______________.
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Poor men's club
0%
Rich men's club
0%
Trade union
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Chamber of commerce
Which of the following schemes is not introduced by the EXIM Bank?
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Africa Project Development facility
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Export Marketing Finance Programme
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American Project Development Facility
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Export Vendor Development Finance Programme
Most of the counter trade agreements involve essential items of food like ____________.
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Rice
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Barley
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Wheat
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(A) and (C)
The Export Marketing Fund is set up in ______________.
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1970
0%
1976
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1980
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1986
The EXIM Bank raise resources by Which is not correct?
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Issuing and selling bonds and debentures
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Borrowing from the RBI
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Borrowing from Government of India
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Borrowing from the RRBs
Explanation
Exim bank raise resources funds or resources by :
1. Issuing and selling debentures and bonds in the market
2. Borrowing from the Reserve Bank of India(RBI): EXIM bank gets resources from RBI.
3. Borrowing from goverment of india : EXIM bank issues debentures and bonds to goverment of india.
The EXIM Bank provides:
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Funded assistance to promote Indian exports
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Non-funded assistance to promote Indian exports
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Both (A) and (B)
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Soft loan facilities
Explanation
EXIM bank (Exports Imports bank of India) provides as well as non financial assistance .Financial assistance is by provising them funds and advances for exports promotion, no financial assistance is by providing them information regarding the trends of the international market.
For promoting the export, the government has set up
The Central Advisory Board on Trade
The Trade Development Authority
The Federation of Indian Export Organisation
Commodity Boards
Which is correct?
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1 and 3
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2 and 4
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1, 3 and 4
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all the above
The Export Import Bank of India (EXIM Bank) is _____________________.
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wholly owned by the Union government
0%
partly owned by the Union government
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wholly owned by the World Bank
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partly owned by the World Bank
The authorised capial of EXIM Bank is ______________.
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Rs.50 crores
0%
Rs.100 crores
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Rs.150 crores
0%
Rs.200 crores
Export Marketing Fund is set up by ____________.
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The IMF
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The IBRD
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The ADB
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The EXIM Bank
Explanation
Export marketing fund was set up by the EXIM(Export-Import Bank of India) in the year 1986.
Hence, option (D) is the correct answer.
India abolished the quantitative restrictions on imports of 1429 items in the years 2000 and 2001 as per the commitment to which of the following?
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South Asian Free Trade Area (SAFTA) Agreement
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General Agreement on Tariffs and Trade (GATT)
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World Trade Organisation (WTO)
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Non Aligned Movement
Explanation
India abolished the quantitative restrictions on imports of 1429 items in 2000 and 2001 as per the commitment to WTO.
Following the announcements in the Export Import (EXIM) policies, various changes were effected such as the removal of quantitative restrictions, strengthening the export production base, removal of procedural bottlenecks, technological upgradation and improvement of product quality.
As per India’s commitment to the World Trade Organisation (WTO), India agreed to the phased removal of all balance-of-payments (BoP) related quantitative restrictions by end-March 2001.
Which one is not the source of external finance?
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WTO Funds
0%
World Bank Group
0%
Export Credit
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Foreign Direct Investment
Explanation
The sources for external finances that are available are export credit, world bank group, foreign direct investment. The WTO funds are not a source of external finances.
A debit balance of payments occurs due to which of the following?
i) Low imports and high exports
ii) High imports and low exports
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Both (i) and (ii) are correct
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Both (i) and (ii) are incorrect
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Only (i) is correct
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Only (ii) is correct
Explanation
A debit balance of payment occurs due to low imports and high exports and when there are high imports and low exports. It also depends on the value f the exports and imports.
Which of the following does not belong to the World Bank Group?
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IBRD
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IDA
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MIGA
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IMF
Explanation
IMF stands for International Monetary Fund. It is an international organization with 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, etc. Hence, IMF does not belong to the world bank group.
When two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as _______.
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Contract Manufacturing
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Franchising
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Joint Ventures
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Licensing
Explanation
Joint venture is a business entity formed by two or more entities that agree to share ownership, profits, losses, risk and governance or control.
Joint ventures are usually taken up for capturing the new emerging markets, to share the risks where a huge amount of investment is involved and to achieve scale efficiency by uniting the assets and the operations.
Joint venture has a separate legal identity distinct from the identity of the entities that have formed it.
Which one is not an objective of IMF?
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To promote international monetary cooperation
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To ensure balanced international trade
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To finance productive efforts according to peace-time requirement
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To ensure exchange rate stability
Explanation
The objectives of Intentional Monetary Funds are to ensure the balanced international trade, to finance productive efforts according to peace-time requirement, to ensure stability of foreign exchange. To promote international monetary cooperation is not an objective of IMF.
In which of the following modes of the entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee?
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Licensing
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Contract manufacturing
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Joint venture
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None of the above
Explanation
Licensing agreement is a legal contract entered by two parties where the owner of the intellectual, real or personal property gives the other party the right to use it for a consideration. The owner is known as the Licensor, the person using it as the Licensee and the consideration as the License Fee.
Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as ________.
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Licensing
0%
Franchising
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Contract Manufacturing
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Joint Venture
Which among the following are important bodies of WTO?
i) Dispute Settlement Body
ii) NAFTA
iii) Trade Policy Review Body
iv) ASEAN
v) Council for Trade in Goods
vi) IBRD
vii) Council for Trade related aspects of Intellectual Property Rights.
viii) GATT
Which of the following are an appropriate combination?
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i, ii, iii, iv
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ii, iii, iv, v
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i, iii, v, vi
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iv, v, vi, viii
Explanation
The important bodies of the World Trade Organization (WTO) are Dispute settlement bodies, trade policy review body, council for trade in goods, council for trade related aspects of intellectual property rights.
Which of the following is not an advantage of exporting?
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Easier way enter into international markets
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Comparatively lower risks
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Limited presence in foreign markets
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Less investment requirements
Explanation
Exporting typically means sending goods to foreign market for selling purpose. Export firms operate from their home country and hence have limited presence in the foreign country which makes it a disadvantage for them.
Which of the following do not form part of duty drawback scheme?
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Refund of excise duties
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Refund of customs duties
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Refund of export duties
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Refund of income dock charges at the port of shipment
Explanation
Major duty drawbacks include refund of excess duties paid on goods meant for export, refund of custom duties paid on raw materials and machines imported for export production.
Which one of the following is not a part of export document?
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Commercial invoice
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Certificate of origin
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Bill of entry
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Mate's receipt
Explanation
Bill of entry gives an account of goods entered into a customs-house, detailing the merchants, quantity of goods, its types and place of origin and destination. The importers fills "bill of entry' form for the assessment of customs import duty.
Which one of the following is not amongst India's major import items?
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Ayurvedic medicines
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Oil and petroleum products
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Pearls and procious stones
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Machinery
Explanation
India is known for its Ayurveda and Yoga all across the world. We are the world's largest manufacturers of Ayurvedic medicines and thus we are the exporters of Ayurvedic medicines. Therefore, it does not form part of our imports list.
Which one of the following is not a document needed to fulfill the customs formalities?
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Shipping bill
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Export licence
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Letter of insurance
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Performa invoice
Explanation
Export license is a document that grants the licensee the right to export a specific quantity of commodity to a specified country. Export license is not a document that is required to fulfill the custom duties.
Which of the following documents are not required for obtaining an export license?
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IEC number
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Letter of credit
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Registration cum membership certificte
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Bank account number
Explanation
Letter of credit refers to a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under a specified condition. Registration with export promotion council and registration with ECGC required for obtaining export license.
Which one of the following modes of entry permits greatest degree of control over operations?
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Licensing / Franchising
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Wholly owned subsidiary
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Contract manufacturing
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Joint venture
Explanation
A wholly owned subsidiary is a company where 100% of the share capital is invested by the parent company or the holding company. This kind of mode gives total control in the hands of the holding company. The holding company gets full authority to decide whether to start new operations or to procure an existing company doing business overseas in order to establish the subsidiary company.
Which of the following documents is not required in connection with an import transaction?
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Bill of Lading
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Shipping Bill
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Certificate of Origin
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Shipment Advice
Explanation
Shipping bill is a form used by Customs and Excise before goods can be exported from the country. It is the main document on the basis of which the customs office gives the permission to export. Hence shipping bill is used during export transaction and not during import transaction.
Which one of the following is not amongst India's major export items?
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Textiles and garments
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Gems and jewellery
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Oil and petroleum products
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Basmati rice
Explanation
Oil and petroleum are natural products and are mostly found in Middle East countries. Crude oil is imported from these countries by India and is then refined to obtain petroleum and petroleum products. We are the importers of oil rather than exporters.
Which one of the following is not amongst India's major trading partners?
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USA
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UK
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Germany
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New Zealand
Explanation
India is a major trading partner of all of the mentioned countries except New Zealand. USA having the highest share as India's major trading partner.
Following are the 15 top trading partners of India – countries that imported the most Indian shipments (in dollar value) during 2017. Also shown is each import country’s percentage of total Indian exports.
United States: US$46.1 billion (15.6% of total Indian exports)
United Arab Emirates: $30 billion (10.1%)
Hong Kong: $15 billion (5.1%)
China: $12.5 billion (4.2%)
Singapore: $11.6 billion (3.9%)
United Kingdom: $9 billion (3%)
Germany: $8.2 billion (2.8%)
Vietnam: $8.1 billion (2.7%)
Bangladesh: $7.2 billion (2.4%)
Belgium: $6.2 billion (2.1%)
Italy: $5.7 billion (1.9%)
Malaysia: $5.5 billion (1.9%)
Nepal: $5.5 billion (1.9%)
Netherlands: $5.4 billion (1.8%)
Saudi Arabia: $5.2 billion (1.8%)
Over three-fifths (61.3%) of Indian exports in 2017 were delivered to the above 15 trade partners.
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