1. Under which LC codes, back to back LCs are not opened?

a) 04
b) 06
c) 05
d) 09
2. LCAF (Letter of Credit Authorization Form) is mandatory for which type of LC from the following:
a) Foreign Import (Cash) LC
b) EPZ Back to back LC
c) Local Import LC
d) Both ‘a’ & ‘b’
3. Which of the following authority issues IRC (Import Registration Certificate)?
a) Bangladesh Bank
b) Ministry of Finance
c) CCI&E
d) Ministry of Foreign Affairs
4. During issuance of LC, Prior permission from Bangladesh bank is required for using which
INCOTERMS?
a) CIF
b) CFR
c) CPT
d) FOB
5. Which of the following document is not a Shipping document?
a) Commercial Invoice
b) Bill of Exchange
c) Packing List
d) Pro-forma Invoice
6. What is the maximum tenor of Back to Back LC?
a) 90 days
b) 120 days
c) 180 days
d) 360 days
7. Beneficiary Credit Report is mandatory for the LC value exceeding BDT:
a) 1 lacs against proforma invoice and 2 lacs against Indent
b) 5 lacs against proforma invoice and 8 lacs against Indent
c) 10 lacs against proforma invoice and 20 lacs against Indent
d) 5 lacs against proforma invoice and 15 lacs against Indent
8. What is the maximum validity of Beneficiary Credit Report?
a) 3 months
b) 6 months
c) 9 months
d) 12 months
9. What is the maximum usance period applicable for import of capital machinery?
a) 360 days
b) 270 days
c) 180 days
d) 120days
10. Within how many days of export, Duplicate EXP form should be reported to Bangladesh bank:
a) 7 days
b) 9 days
c) 14 days
d) 21 days
11. Which of the following document/s is not a transport document:
a) Bill of lading
b) Truck receipt
c) Airway bill
d) None of the above
12. Which of the following international rule may be applicable for foreign bank guarantee:
a) UCP 600
b) URR 725
c) URDG 758
d) ISBP
13. Which of the following party is not related to Import under Documentary Collection:
a) Remitting Bank
b) Collecting Bank
c) Confirming Bank
d) Presenting Bank
14. Which of the following INCOTEMS is for sea & inland waterway only:
a) CPT
b) CIP
c) FCA
d) CFR
15. Which of the following is not a purpose of opening Back to back LC:
a) Procurement of fabrics by the manufacturer exporters
b) Procurement of yarn by the manufacturer exporters
c) Purchase of dyeing materials by manufacturer exporters
d) Purchase of a dyeing machine by manufacturer exporter
16. What is the rate of interest for EDF loan disbursed by Bangladesh bank to ADs?
a) Six-month USD LIBOR + 1 percent
b) Six-month USD LIBOR
c) Six-month USD LIBOR + 2.5 percent
d) None of the above
17. What rate of interest is charged by ADs to manufacturer exporter against EDF facility?
a) Six-month USD LIBOR + 1 percent
b) Six-month USD LIBOR + 0.5 percent
c) Six-month USD LIBOR + 2.5 percent
d) None of the above
18. EDF loan is repayable to Bangladesh bank within
a) 90 days
b) 120 days
c) 180 days
d) 360 days
19. Under Documentary Collection method, which bank represents Exporter’s banks?
a) Remitting Bank
b) Collecting Bank
c) Presenting Bank
d) Confirming Bank
20. The name “Charter Party” is related to which of the following document:
a) Commercial Invoice
b) Pro-forma Invoice
c) Pre-shipment Inspection Certificate
d) Bill of Lading

21. How many days shall have for Issuing Bank to determine the complied presentation of the Import Bill
?

a) Five days.
b) Five working days.
c) Five banking days.
d) Both a & b.

22. Which option of the following is pre-shipment finance for Export?

a) LTR.
b) Back to Back LC.
c) Packing Credit.
d) Both b & C.

23. How many articles have in UCP-600?

a) 19
b) 29
c) 39
d) 49
24. Which option is correct for overdue EXP?

a) 120 days from the date of collection.

b) 180 days from the date of collection.
c) 120 days from the date of shipment.
d) 120 days from the date of issue.

25. Which option is correct to claim cash incentive to Bangladesh Bank?

a) 180 days from the date of proceed realization

b) 120 days from the date of proceed realization
c) 150 days from the date of proceed realization
d) 90 days from the date of proceed realization

26. Which rate will be applicable for Foreign Sight Bill Purchase?

a) OD Transfer.
b) TT Doc.
c) OD Sight Export.
d) None.

27. What is LC?

a) Definite Undertaking.
b) Conditional Undertaking.
c) Undertaking.
d) All of the above.

28. Which option is correct to charge overdue interest on Sight FBP?

a) After 21 days from the date of negotiation

b) After 21 days from the date of purchase
c) After 30 days from the date of collection.
d) None of the above.

29. Which option is applicable for EXP Duplicate reporting?

a) Within 14 days from the date of Export Bill Collection.

b) Within 18 days from the date of transport document.
c) Within 14 days from the date of invoice.
d) Within 14 days from the date of transport document.

30. What is the full form SWIFT?

a) Society for Worldwide Interbank Financial Telecommunication.

b) Society for Worldwide Interbank Foreign Telecommunication.
c) Society for Worldwide International Financial Teleconference.
d) Society for Worldwide Interbank Final Telecommunication.
31. In LC we have given 1200 Kilogram but in Commercial Invoice shows 1200 KG. Is it discrepancy?

a) Yes.
b) No.

32. In LC we have given 1000 pieces Bottom for T-shirt but in Commercial Invoice shows 1000 pieced
Bottmo for T-shirt… Is it discrepancy?

a) Yes.
b) No.

33. In LC we have given 100000 pieces Pen but Commercial Invoice shows 100000 pieces
Pan…. Is it discrepancy?

a) Yes.
b) No.

34. What is guideline approved by ICC besides UCPDC for examining the Shipping Document under
LC?

a) URR b) URC c) ISBP d) Bangladesh Bank FEX Guideline.

35. What is the full form of ISBP?

a) International Specialized Banking Practice.

b) International Standard Banking Practice.
c) Interbank Standard Banking Practice.
d) Both b & c.

36. What is the full form of UCPDC?

a) Uniform Customs and Practice for Documentary Credits.

b) Uniform Customs Practice for Documentary Credits.
c) Uniform Customs and Practice and Documentary Credits.
d) Uniform Customs Practice Documentary Credits.

37. How many copies we can see in LCAF?

a) 6
b) 5
c) 4
d) 7

38. How many copies we can see in EXP Form?

a) 4
b) 6
c) 5
d) 3
39. Which of the following is the responsibility of Advising Bank?

a) Keep the LC for their own record.

b) Advise the LC to the Applicant without any delay.
c) Advise the LC to the Beneficiary without any delay.
d) Advise the LC to the Beneficiary with delay.

40. EXP Triplicate need to report after ……..?

a) Realization of export proceed.

b) Shipment
c) Negotiation of Foreign Bill
d) None of the above.

41. Which Inco term will be applicable in LC to import by truck?

a) CIP.
b) CIF.
c) CPT.
d) a & c.

42. Entitlement of BTB LC should be made on which basis?

a) On the Export LC value.

b) On the FOB value of Export LC.
c) On the CIP value of Export LC.
d) On the Import LC value.

43. Which option is correct for the expiry of packing credit?

a) 90 days from the date of disbursement.

b) 90 days from the date of disbursement but within the Export LC validity.
c) Export LC expiry date.
d) Both a & c.

44. Which format of the swift we will follow to issue a correction message of LC for Non RMA Bank?

a) MT 799.
b) MT 899.
c) MT 999.
d) MT 734.

45. What is Balance of Trade?

a) (Total Value of Exported Goods - Total value of Imported Goods).

b) (Total value of Imported Goods - Total Value of Exported Goods).
c) None.
d) Both a & c.
46. Who is the authority of Import-Export policy?

a) CCI&E
b) Export Promotion Bureau.
c) Ministry of Commerce.
d) Ministry of Business.

47. Who is the authority of UCPDC and ISBP?

a) International Chamber of Commerce.

b) World Bank.
c) Asian Development Bank.
d) Bangladesh Bank.

48. Which Inco term is not applicable for the Air?

a) CPT
b) CFR
c) CIF
d) Both b & c.

49. Who is the authority to issue IRC and ERC?

a) CCI&E.
b) EPB.
c) Bangladesh Bank.
d) ICC.

50. The party on whose request LC is issued is called….?

a) Beneficiary.
b) Confirming Bank.
c) Issuing Bank.
d) Applicant.

51. The Bank with which the credit is available for is called…….?

a) Nominating Bank.
b) Issuing Bank.
c) Reimbursement Bank.
d) Confirming Bank.

52. The party on whose favor LC is issued is called….?

a) Applicant.
b) Beneficiary.
c) Advising Bank.
d) Both b & c.
53. The Bank who is responsible for giving payment to the Beneficiary in LC?

a) Issuing Bank.
b) Advising Bank.
c) Reimbursement Bank.
d) None of the above.

54. Who will sign the Bill of Lading on behalf of Carrier or Master..?

a) Any agent.
b) Applicant.
c) Beneficiary.
d) All of the above.

55. Reloading of Goods from one vessel to another vessel is called……?

a) Partial Shipment.
b) Transshipment.
c) Shipment
d) None of the above.

56. How many INCOTERMS are in INCOTERMS 2010?

a) 13 b) 11 c) 12 d) 10

57. We need permission from Commerce Ministry for which INCOTERM?

a) CPT b) CIF c) CIP d) b and c

58. In which INCOTERM, buyer responsibilities is high?

a) FOB b) CPT c) CFR d) EXW

59. In which INCOTERM, seller responsibilities is low?

a) FOB b) CPT c) CFR d) EXW

60. In which INCOTERM, seller will brings all duty and charges?
 a) DDP b) DAP c) DAT d) FOB

61. Which type of Customers can open Resident Foreign Currency Deposit (RFCD) Account?
a) Retail/ Individual Customer
b) Corporate customer
c) SME Customer
d) All of the above
62. What is the nature of RFCD Account?
a) CASA (savings) type
b) CASA (Current) type
c) Term Deposit type
d) None of the above
63. How long a Bangladeshi Resident may retain foreign exchange in excess of US$5000 or
equivalent after travelling from abroad?
a) 15 days
b) 30 days
c) 60 days
d) 90 days
64. Which currency is not allowed to open RFCD account?
a) USD
b) ACU
c) GBP
d) JPY
65. What would be the ways of depositing in RFCD account?
a) Bank to bank inward remittance amount can be credited
b) Cash deposit against travel would be credited.
c) Locally earned FC Salary can be deposited
d) All of the above.
66. How much foreign currency amount can be retained in hand after travelling from abroad?
a) USD 5000 or equivalent.
b) USD 10,000 or equivalent
c) USD 2000 or equivalent
d) None of the above
67. Which type of Customers can open Private FC Account?
a) Non Resident Bangladeshi.
b) Foreign National.
c) Foreign Firm/Foreign Mission.
d) All of the Above.

68. Which is not permissible tenor for Non-Resident Foreign Currency Deposit Account?
a) 1 month.
b) 2 month.
c) 6 month.
d) 12 month.
69. What is the Minimum balance of opening NFCD Account for wage earner?
a) USD 2500 or its equivalent in Pound Sterling, Euro or Japanese Yen.
b) USD 1000 or its equivalent in Pound Sterling, Euro or Japanese Yen.
c) USD 2000 or its equivalent in Pound Sterling, Euro or Japanese Yen.
d) None of the above.
70. What is the limit of endorsement in passport and ticket for travelling other than SAARC countries?
a) Up to US$ 5000 at a time in the form of cash currency notes.
b) The remainder in the form of Credit Card & or other currencies.
c) Maximum USD 7000 or equivalent is permissible.
d) All of the above.