Legal Aspects & Import/ Export Procedure PGDLM Question Paper : iimm.org

Organisation : Indian Institute of Materials Management
Degree : PGDLM(PG Diploma in Logistics Management)
Subject : Legal Aspects & Import/ Export Procedure
Document Type : Question Paper
Website : iimm.org

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Legal Aspects & Import/ Export Procedure Question Paper :

INDIAN INSTITUTE OF MATERIALS MANAGEMENT
Post Graduate Diploma in Logistics Management
Date : 13 .12.2010
Max Marks : 100
Time: 2.00 PM to 5.00 PM
Duration : 3 hours

Related : Indian Institute of Materials Management Buiness Strategies & World Class Practices PGDMM Question Paper : www.pdfquestion.in/6742.html

Instructions :
1. From Part A : Answers all questions (compulsory). Each sub-question carries 1 mark. Total Marks:32 Instructions:
2. From Part B : Answer any three questions out of 5 questions. Each questions carries 16 marks. Total Marks:48

3. Part C is a case study with sub-questions (compulsory). Read the case study and answer all the questions. Total Marks:20
4. Please read and follow the instructions given on the answer sheets carefully.

Part A :
Q : 1 Select the most appropriate answer from the options given : 8 marks
a) AWB is issued in case of
(1) Air shipment
(2) Sea shipment
(3) Road shipment
(4) Rail shipment

b) Which of the following document is not attached with export documents?
(1) Invoice
(2) B/L
(3) Certificate of Origin
(4) Tender Enquiry

c) Which of the following is not a member of World Bank?
(1) IBRD
(2) ICC
(3) IDA
(4) IFC

d) Normally the duration of exim policy is for
(1) 3 years
(2) 5 years
(3) 7 years
(4) 9 years

e) Who covers payment risk in insurance in foreign trade?
(1) RBI
(2) Banks
(3) ECGC
(4) LIC

f) Which is not an export promotional scheme?
(1) EPZ
(2) EHTP
(3) EOU
(4) EPC

g) Which of the following is issued by DGFT?
(1) IEC
(2) RCMC
(3) PAN
(4) ECGC

h) Customs Valuation rule was introduced in the year
(1) 1947
(2) 1962
(3) 1988
(4) 1992

Q : 2 Match the following 8 Marks
a) ECGC 1) Valid for 5 years
b) RCMC 2) Types of customs duties
c) GBP 3) Trade Block
d) FCA 4) Export promotional scheme
e) DEPB 5) Mandatory code for imp / exp
f) BCD 6) Insurance credit
g) IEC 7) Incoterms
h) G-7 8) Currency

Q: 3 – State whether the following statements are True or False. 8 marks
1. BoT is the difference between the monetary values of exports and imports in an economy over a certain period of time.
2. EXIM bank of India was set up in 1982.
3. Customs Clearance Act was introduced in 1962.
4. The General Agreement on Trade & Tariff was signed in 1947.
5. FEMA is replaced by FERA.
6. EPCG provides export credit insurance support to Indian exporter.
7. Port formalities are not part of customs clearance procedure.
8. IBRD is today more popularly known as World Bank.

Q : 4 Expand the following terms : 8 marks
1. HSN
2. TRIPS
3. IMF
4. EPC
5. CCP
6. WTO
7. CIF
8. CHA

Part : B
Solve any 3 questions. Each question carries 16 marks.
Q : 5 Narrate the steps to be adopted for import of catalysts at Mumbai Seaport in drums / containers.

Q : 6 Write short notes on following : (any four)
i) Disequilibrium
ii) GATT
iii) International Development Association
iv) Euro Dollar Market
v) EXIM bank

Q : 7 (a) What is Letter of Credit ? Name the various parties to Letter of Credit.
Q : 7 (b) What are the 5 methods of payment ?
Q : 8 (a) What are the purpose of World Bank ? How World Bank associated to India ?
Q : 8 (b) What is EXIM policy and what are the measures taken by Govt of India towards liberalization ?

Q : 9 Distinguish between following :(any four)
i) Imports & Exports
ii) Tariff Barriers & Non tariff barriers
iii) Forward contracts & Options

iv) Pre-shipment Credit & Post-shipment Credit
v) Consumer Packaging & Distribution Packaging

Part C : Compulsory
Q : 10 The Project Cell of Suzlon Limited, Waghodia has received an offer for import of Turbine Shaft for a steam turbine of power plant and now the import manager has to work out following values :
a) CIF Price in INR
b) Basic Customs Duty in INR
c) CVD in INR
d) SAD in INR
e) Landed Cost in INR

Use following data for calculation purpose :
i) Price of M/s Linde AG, Germany : Euro 395 FOB
Landing Charges = 1% of CIF Value
Assessable Value = CIF price + 1% landing charges

ii) Exch Rate: 1 Euro = Rs 62.41
iii) BCD = 7.5% on Assessable Value, CVD = 8.24% on Assessable Value + BCD, SAD = 4% on Assessable Value + BCD + CVD
iv) Marine Insurance = 1% of C&F
v) Ocean Freight = 3% of FOB You may assume any data, if required.