MT no.

SR Question OPTION A OPTION B OPTION C

NO
3 17 Reporting of transfer of shares between Residents FCGPR FORM ODI FORM 83
and Non Residents and vice versa is to be done in
Form

3 18 The form FCTRS should be submitted by AD Bank 60 120 180

within___ days from the receipt of the amount of
consideration

3 23 As per FEMA "PROHIBITED TRANSACTIONS" falls SCHEDULE I SCHEDULE II SCHEDULE III

under
3 24 Permission for Remittance for Cultural tours is to be Ministry of Human Ministry of External Ministry of Information
obtained from _______________ Resources Development Affairs and Broadcasting

3 97 For allotment of LRN ECB borrowers are required to FCGPR ODI FORM 83
submit form
3 98 FCCB stands for Foreign currency cash Foreign currency Foreign currency cash
bonds convertible bonds free bonds
3 99 FCEB stands for Foreign currency Foreign currency external Foreign currency earning
exchangeable bonds bonds bonds
3 100 ECB refers to commercial loans from Non Resident 3 years 5 years 1.5 years
lenders with minimum average maturity of

3 101 Where aggregate value of the foreign exchange in 5000 10000 15000
form of currency notes, bank notes or TCs brought
in India at any one time exceeds $ ____ or its
equivalent then CDF is mandatory

3 103 Receipt of import documents by the importer 300000 200000 100000

directly from overseas suppliers is permissible
where value of import bill does not exceed USD

3 105 Entire merchanting trade transactions should be 4 months 9 months 6 months

completed within an overall period of
MT no. SR Question OPTION A OPTION B OPTION C
NO
3 106 Units in SEZ can remit premium for general 1 0
insurance policies taken by them from insurers
outside India provided premium is paid from their
foreign exchange balances

3 112 Overseas direct investments is allowed in freely Bhutan Nepal Sri lanka
convertible currencies in all except _______

3 113 An Indian party may make direct Investment in an 200 400 500
overseas JV/WOS outside India upto ________ % of
its net worth as on date of the last audited balance
sheet

3 114 As per the rationalised and revised form ODI (Annex APR Certificate by the Closure / voluntary
I) section E (earlier section F) in part A is statutory auditors of the liquidation / winding up/
Indian Parties/ self- merger/ amalgamation of
certification by Resident Indian Parties
Individuals

3 115 An entity incorporated in _______ may, with prior Bangladesh Pakistan Nepal
approval of FIPB of GOI purchase shares of an Indian
company under FDI scheme

3 116 FDI under automatic route can be in the form of all Equity shares Preference shares Convertible debentures
except
3 117 Equity instruments should be issues within ___ days 180 90 50
from date of receipt of FDI (inward remittance of )

3 118 The shipment of goods is to be made within _____ 1 year 9 nine months 3 months
from the date of receipt of advance payment
MT no. SR Question OPTION A OPTION B OPTION C
NO
3 119 AD banks may consider applications received from 10 lac 1 lac 5 lac
exporters and grant permission for opening/hiring
warehouses abroad provided applicant has
minimum turnover of $ ___ during last year

3 120 Processing of export related receipts through online 2000 3000 5000
payment gateway service providers is available for
export of goods and services of value not exceeding
$
OPTION D CORRECT OPTION CORRECT
OPTION
FCTRS FCTRS D

360 60 A

SCHEDULE IV SCHEDULE I A

Home Ministry Ministry of Human A

Resources Development

None of the above FORM 83 C

Foreign convertible cash Foreign currency B

bonds convertible bonds
Foreign convertible Foreign currency A
exchange bonds exchangeable bonds
7 years 3 YEARS A

7000 10000 B

50000 300000 A

12 months 9 months B
OPTION D CORRECT OPTION CORRECT
OPTION
1 A

China Nepal B

300 400 B

Sale/ transfer of the Certificate by the B

shares of the overseas statutory auditors of the
JV/WOS to another Indian Parties/ self-
eligible resident or non- certification by Resident
resident Individuals

1&2 1&2 D

Non convertible Non convertible D

debentures debentures
30 180 A

6 months 1 YEAR A
OPTION D CORRECT OPTION CORRECT
OPTION
3 lac 1 Lac B

10000 10000 D
Srl Question OPTION A OPTION B OPTION C OPTION D CORRECT OPTION
1 Reporting of transfer of shares between Residents and Non Residents FCGPR FORM ODI FORM 83 FCTRS D
and vice versa is to be done in Form
2 The form FCTRS should be submitted by AD Bank within___ days 60 120 180 360 A
from the receipt of the amount of consideration
3 As per FEMA "PROHIBITED TRANSACTIONS" falls under SCHEDULE I SCHEDULE II SCHEDULE III SCHEDULE IV A
4 Permission for Remittance for Cultural tours is to be obtained from Ministry of Human Ministry of External Ministry of Home Ministry A
_______________ Resources Affairs Information and
Development Broadcasting
5 For allotment of LRN ECB borrowers are required to submit form FCGPR ODI FORM 83 None of the above C

6 FCCB stands for Foreign currency cash Foreign currency Foreign currency cash Foreign convertible cash B
bonds convertible bonds free bonds bonds
7 FCEB stands for Foreign currency Foreign currency Foreign currency Foreign convertible A
exchangeable bonds external bonds earning bonds exchange bonds
8 ECB refers to commercial loans from Non Resident lenders with 3 years 5 years 1.5 years 7 years A
minimum average maturity of
9 Where aggregate value of the foreign exchange in form of currency 5000 10000 15000 7000 B
notes, bank notes or TCs brought in India at any one time exceeds $
____ or its equivalent then CDF is mandatory
10 Receipt of import documents by the importer directly from overseas 300000 200000 100000 50000 A
suppliers is permissible where value of import bill does not exceed
USD
11 Entire merchanting trade transactions should be completed within an 4 months 9 months 6 months 12 months B
overall period of
12 Units in SEZ can remit premium for general insurance policies taken 1 0 A
by them from insurers outside India provided premium is paid from
their foreign exchange balances
13 Overseas direct investments is allowed in freely convertible Bhutan Nepal Sri lanka China B
currencies from the following countries except _______
14 An Indian party may make direct Investment in an overseas JV/WOS 200 400 500 300 B
outside India upto ________ % of its net worth as on date of the last
audited balance sheet
15 As per the rationalised and revised form ODI (Annex I) section E APR Certificate by the Closure / voluntary Sale/ transfer of the B
(earlier section F) in part A is statutory auditors of liquidation / winding shares of the overseas
the Indian Parties/ up/ merger/ JV/WOS to another
self-certification by amalgamation of eligible resident or non-
Resident Individuals Indian Parties resident
Srl Question OPTION A OPTION B OPTION C OPTION D CORRECT OPTION
16 An entity incorporated in _______ may, with prior approval of FIPB of Bangladesh Pakistan Nepal 1&2 D
GOI purchase shares of an Indian company under FDI scheme

17 FDI under automatic route can be in the form of all except Equity shares Preference shares Convertible Non convertible D (Please read
debentures debentures option C as
'optionally
convertible
debentures')

18 Equity instruments should be issues within ___ days from date of 180 90 50 30 The correct option
receipt of FDI (inward remittance of ) is 60
19 Normally, the shipment of goods is to be made within _____ from the 1 year 9 nine months 3 months 6 months A
date of receipt of advance payment in respect of exports from India

20 AD banks may consider applications received from exporters and 10 lac 1 lac 5 lac 3 lac B
grant permission for opening/hiring warehouses abroad provided
applicant has minimum turnover of $ ___ during last year

21 Processing of export related receipts through online payment 2000 3000 5000 10000 D
gateway service providers is available for export of goods and services
of value not exceeding $
22 Import licence are normally issue for ____ Value CIF CFR CPT EXW A
23 When import licence is fully utilised, it should be returned to the 1 0 B
client upon obtaining an acknowledgement
24 FATF statement should be considered while handling Third Party 1 0 A
Transactions
25 In case of a Public Sector Company, AD Category I Bank shall ensure 10,000 100,000 200,000 300,000 B
that the requirement of bank guarantee has been specifically waived
by the Ministry of Finance, GOI for advance remittance exceeding
USD ______

26 For trade credits for imports into India, all-in-cost ceiling over 6 200 250 300 350 D
months LIBOR is ____ basis points
27 For trade credits, what is the maximum period for which LOU can be 1 2 3 5 C
issued by AD Banks
28 AD banks may freely allow remittance for advertisement on foreign 1 0 A
television channels
Srl Question OPTION A OPTION B OPTION C OPTION D CORRECT OPTION
29 Remittance for consultancy service procured from outside India by 0.5 1 2 10 D
Indian companies executing infrastructure projects is allowed up to
USD ___ million per project, after verification of the bonafide of the
transactions

30 Remittance of foreign exchange towards reimbursement of pre- 1 0 B

incorporation expenses incurred in India is allowed up to 5 percent of
the investment brought into India or USD 100,000/- whichever is
lower , on the basis of certification from statutory auditors

31 Permitted changes in ECB parameters should be reported to the DSIM 1 0 B

through revised Form ECB at the earlierst, in any case not later than
15 days from the changes effected.
32 After goods have been shippped from India, if name of buyer or 1 0 B
consignee has to changed, RBI approval is required in all cases
33 Maximum tenor for long term export advance is up to ___ years 1 2 5 10 D
34 Rate of interest payable, if any, in respect of long term export 150 200 250 350 B
advance should not exceed LIBOR plus ____ basis points
35 Are AD Banks permitted to undertake forfaiting? Yes No A
36 Forwarder's Cargo Receipt (FCR) cannot be accepted in lieu of bill of 1 0 B
lading
37 Agency commission on exports can be made by way of deduction 1 0 A
from invoice value
38 Non-resident holding shares of an Indian company can pledge these 1 0 A
shares in favour of the AD Bank in India to secure credit facilities
being extended to the resident investeee company for bonfide
business purpose subject to certain conditions.

39 Who is not eligible to invest in Limited Liability Partnerships (LLPs)? a SEBI registered FPI a SEBI registered QFI a SEBI registered FVCI All the above D

40 FPIs are permitted to invest in the capital of an Asset Reconstruction 1 0 B

Company