Professional Documents
Culture Documents
Vostro Account is
A rupee account of a foreign bank in India *
A dollar account of a foreign bank in India
A dollar account of a multi national company in India
None of the above
14. Who is fixing the rate of exchange for US dollars for purchase and
sale to public
1. RBI
2. FEDAI
3. Banks on their own *
4. World Bank
15. Resident Indians are eligible under the scheme of BTQ to avail of
foreign Exchange upto us $----- of the equivalent for under taking one
or more private visit to any country abroad
1. 10,000 *
2. 3500
3. 4000
4. None of the above
16. Unspent foreign exchange brought back in the form of TCs by the
traveller who has availed BTQ should be surrendered to the authorized
dealer within
1. 7 days
2. 15 days
3. 180 days *
4. Can retain with him for ever
17. What are the types of rates that are quoted for foreign exchange
sale transaction?
1. TT selling
2. Bill selling
3. Currency selling
4. All the above *
1. Yes, When the raw material input cost is more than the export
value i.e. FOB*
2. When RBI has given permission to sanction such loan
3. When the party is enjoying sanctioned limits by Head Office.
4. No, we can never grant PC beyond FOB value
29. A PC has been granted for RS 100,000/- against an order received
from Australia for supply of neem oil. But the order could not be
executed, because the buyer cancelled the same. He gave another
order for supply of fruits and vegetables to Dubai, to substitute the
original order Can AD permit substitution of orders.
1. We cannot permit as substitution of orders is not allowed
2. We can permit, provided RBI sanction is obtained
3. We can freely permit substitution of orders, provided the
exporter has got competency to execute the order*
4. None the above
30. When a packing credit has been availed in foreign currency, how
the post-shipment credit has to be extended?
1. Post-shipment credit denominated in Indian Rupees (DBPF/
UBDF )
2. Post shipment credit denominated in foreign currency (RDBF
/RDBF) *
3. Either PSC (in Rupees) or RDBF /RUBF
4. None of the above
31. One of your exporter customers has received an export order for
USD 100,000/- (Present conversion rate USD 1= RS 47/-). The
contract is for CIF value. Freight is estimated at 10% and insurance
premium will be approximately 5%. Your branch has prescribed a
margin of 10%. What will be the eligible packing credit loan amount?
1. 32,13,000
2. 37,80,000
3. 42,00,000
4. 35,95,000*
32. You are required to negotiate an export bill for USD 150000.00at
60 days after sight drawn under a LC. Assuming the following rates in
the inter bank market calculate the exchange rate to be quoted
bearing in mind that the required exchange margin is 0.150% , NTP is
20 days and interest is to be collected at 11% p.a. at the time of
negotiation and recoverable from the customer.
SPOT USD1= Rs.48.2000/48.2500 and premia are