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Import and Export Trade Procedure — Practice Quiz

ICSE · Class 11 · Commerce

Try a 4-question quiz on Import and Export Trade Procedure for ICSE Class 11 Commerce: tap an answer to check it and see why.

65 questions35 flashcards5 concepts

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Quick Quiz: Import and Export Trade Procedure

0/4

Tap an answer to check it instantly. No sign-up needed for these 4.

1

What is import trade?

2

What is export trade?

3

Why do countries import goods?

4

Why do countries export goods?

65 Questions·
multiple choicemultiple correct

Sample Questions

1multiple choice
1 marks

Which body controls foreign exchange in India?

Show answer

Reserve Bank of India

The Reserve Bank of India controls foreign exchange in India. Importers apply to its Exchange Control Department for release of foreign exchange.

2multiple choice
1 marks

What does an importer apply for after obtaining an import licence?

Show answer

Foreign exchange

After getting the import licence, the importer applies for the required amount of foreign exchange from the RBI.

3multiple choice
1 marks

What is an indent in import trade?

Show answer

An order placed for the required goods

An indent is the order placed by the importer for the goods required.

4multiple choice
1 marks

What is an Open Indent?

Show answer

An indent with very few details mentioned

In an open indent, only a few details are mentioned and the rest is left to the exporter.

+61 more questions on Import and Export Trade Procedure (ICSE Class 11 Commerce)

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Frequently Asked Questions

What are the important topics in Import and Export Trade Procedure for ICSE Class 11 Commerce?
Key topics in Import and Export Trade Procedure include Meaning and Importance of Import and Export Trade, Import Procedure, Import Documents and Special Terms, Export Procedure. Study these first, then practise questions on each for Class 11 exams.
How many practice questions are there for Import and Export Trade Procedure?
There are 65 questions on Import and Export Trade Procedure. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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