Page 252 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

Q-996: Which one of the following is not a document related to fulfill the Customs formalities?
(i) Shipping Bill
(ii) Export licence
(iii) Letter of insurance
(iv) Proforma invoice
A-996: ii - Export licence
Q-997: A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship
is known as
(i) Shipping receipt
(ii) Mate receipt
(iii) Cargo receipt
(iv) Charter receipt
A-997: ii - Mate receipt
Q-998: Which of the following document is prepared by the exporter and includes details of the
cargo in terms of the shippers name, the number of packages, the shipping bill, port of
destination, name of the the vehicle carrying the cargo?
(i) Shipping Bill
(ii) Packing List
(iii) Cargo receipt
(iv) Charter receipt
A-998: i - Shipping Bill
Q-999: The document containing the guarantee of a bank to honour drafts drawn on it by an
exporter is
(i) Letter of hypothecation
(ii) Letter of credit
(iii) Bill of lading
(iv) Bill of exchange
A-999: ii - Letter of credit
Q-1000:TRIP is one of the WTO agreements that deal with
(i) Trade in agriculture
(ii) Trade in services
(iii) Trade related investment measures
(iv) None of the above
A-1000: iv - None of the above
Q-1001:The cost of transport of the imported goods to the place of importation if imported by vessel
and air as follows:
(i) The cost of transport is ascertainable on air; such cost will not exceed 20% of the
free on board value of the goods.

(ii) The cost of transport is not ascertainable on sea; such cost will be 20% of the free on
board value of the goods.

Which one of the statement is correct on the above one?
(i) a only
(ii) b only
(iii) both a and b

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