Trade Compliance

1. The proof of physical import of goods issued by custom is called

A. Bill of Entry
2. IDPMS monitors
B. 1.ORM done but import pending 2. Import done but ORM pending
3. Original Import documents received at bank to be handed over to the
importer only when
A. Payment (account is debited) is made by the importer or the acceptance is
given by the importer in wri ng to make the payment on due date (for
usance bills)
4. In case of Import payments (other than B2B collec on), ORM gets created
in IDPMS at the me of ______
A. Post payment
5. in running a/c EPC/ PCFC, the export order/ LC copy needs to be submi ed
within ____ days from _____ date
C. 21 days from disbursement date
6. EDPMS monitors
A. 1. IRM received but export pending 2. Export done but inward not received
7. The proof of physical export of goods issued by custom is called
B. Shipping Bill
8. KYC of the beneficiary is mandatory for FDI transac ons
C. No, KYC of the remi er is mandatory
9. Exporters are required to complete the export within _____ year of
receiving the Advance Export payment (P0103
A. 1 year
10. ______ cer ficate is mandatory for Diamond Dollar Accounts
A. Annual Turnover Ce ficate from CA
11. Export bills once lodged with ICICI Bank, must be sent to overseas bank
on ____ day
A. Same
12. OFAC stands for
A. Office of Foreign Assets and Control
13. EDD would be mandatory in which of the men oned scenarios
D. All of the above
14. APR needs to be filled every month by en es who have done ODI
C. Every year and not every month
15. FCGPR is filed on which portal
D. FIRMS
16. SB data is available in EDPMS since _____
A. March 01st, 2014
17. Timeline for submission of SB/GR to AD Bank is ____ days from the
shipment date
A. 21 days
18. Prior to DOE repor ng it should be ensured that
D. All of the above
19. Banks lost BOE framework is applicable for imports of
B. USD 1 lakh or equivalent (individual remi ances)
20. Banks lost BOE framework is applicable for imports prior to
A. Imports prior to Nov 30 20
21. Timeline for submission of Bill of Entry to the bank is
A. Within 90 days from the payment date
22. Chronic cases (>USD ____ lakhs & > ____ years) of non regulariza on of
advance against exports is reported to Directorate Of Enforcement (DOE) (on
quarterly basis)
C. >USD 5 lakhs & > 2 years
23. EDD process is a one me ac vity only
C. EDD process has to be carried while : a. Onboarding a customer b. At the
me of ini a ng the transac on c. Post transac on
24. Remi ances for exports made must be received and regularized by the
AD Bank within ___ months
D. 9 months
25. BOE data is available in IDPMS since ____________
C. April 01, 2016
26. Bank Guarantee Invoca on needs be acted upon
C. Immediately

Trade Proposi on
Q. Unique Trade Account for ICICI Bank customers is called
A. OGTA - One Globe Trade Account
Q. Exporters - Importers can hold Foreign in type of
a/c
B. EEFC Alc
Q. Online se lement of Inward Remi ance can be done
from branch only
C. can be done from CIB or Instablz both
Q. Comprehensive web based portal for trade transac ons
is known as
C. Trade Online (TOL)
Q. Shipping Bill Regularisa on can be done only from
branch
C. Shipping Bill Regularisa on can be done from
Trade Online, InstaBiz App or branch
Q. The protal to Book Fx Rates on the go is
B. Fxonline
Q. My overseas seller is asking for advance payment. How
do I ensure that the right quality of goods is sent by the
seller.
c) I will ask my seller to keep the payment terms as
against Le er of Credit
Q. I have secured a government contract and need to pay
Rs 50 lakhs as EMD. EMD refund from government
department a er the contract is over will take me.
What is the best solu on available here ?
B) Pay EMD via Bank Guarantee
Q. I have sent the goods to my buyer in Gujarat, but he will
pay me a er 5 months. My working capital is blocked.
What is the best solu on that ICICI Bank offer here ?
A. Le er of Credit Bill Discoun ng (LCBD)
Q. I am going to meet a so ware exporter today, what
products/ servcies/ USP should | pitch him today ?
D. ALL THE ABOVE
Q. I am going to meet a so ware exporter today, what
products/ servcies/ USP should | pitch him today ?
B. FDI transac ons leading to CASA, Fx Income &
Fee Inccome
Q. Outward Remi ances can be in cated from
B. Trade Online, InstaBlz App & branch
Q. You met an importer who frequenly travels abroad and
misses melines to makes import payments on me.
What feature you can suggest him as a USP of ICICI
Bank ?
A. Calender for scheduling future payments from
TOL
Q. Unique offerring of ICICI Bank for post FDI transac on
formali es is
C. Pre-ve ng of details and documenta on for
FCGPR fillings (regulatory returns)
Q. A complete dashboard for trade related transac ons is
A. Trade One View Dashboard

Trade Basics

Q. Any exchange of goods & servcies for a is considered as

Trade
A. Valid Considera on
Q. Cross border trade means
C. Trade transac ons with India and any other country
Q. FEMA stands for
B. Foreign Exchange Management Act
Q. Foreign Trade Policy (FTP) is formulated by
B. DGFT
Q. Importer Exporter Code cer ficate
C. DGFT
Q. Shipping bill & Bill of Entry Is issued by
D. CUSTOMS
Q. SWIFT stands for
A. Society for WorldWide Financial
Telecommunica on
Q. ICICI Bank SWIFT Code is
A. ICICINBBCTS
Q. Their Account with us means
C. VOSTRO A/C
Q. Importer ______ foreign currency for making Import
payments
A. Buys
Q. Exporter foreign currency for export receivables
A. SELLS
Q. USD/ INR is quo ng at 81.2500/ 3500, the rate for exporter
Is
B.Bidrate 81.25
Q. USD/ INR is quo ng at 81.2500/ 3500, the rate for importer
is
A. AskRate 81.35
Q. Sopt delivery means delivery on T+x day, where X Is equal
to
B. 2
Q. Banks deals in goods, documents, funds & financing.
C. Banks does not deal in goods
Q. Under open account,
risk
B.The seller
Q. Le er of Credit is always opened by the Seller
B. FALSE
Q. Le er of Credit can be either Sight or Usance
D. TRUE
Q. Under Export Bill Nego a on, the exporters limits with the
bank is blocked
B FALSE
Q. Post shipment finance can be given only in FCY
C. Post shipment can be in INR or FCY
Q. Maximum period for pre-shipment credit allowed by RBI is
B. 360 DAYS
Q. Maximum period for post-shipment credit allowed by RBI is
C. 365 DAYS
Q. Guarantees that if the seller fails to deliver the service or
product accurately or promptly, the
buyer will receive a refund of the payment. This type of
guarantee is called
A. Advance Payment Guarantee
Q. EEFC a/c can be opened only in USD & Euro Currency
C. 24 currencies in ICIC| Bank
Q. SEZ units can open
C. SEZ cannot open a/c's with us