Quiz · Module 2

Import

8 questions. The pass mark is 6 of 8, which is 70% rounded up. You can retake it.

Question 1

A Bill of Entry has no contract due date and no credit days recorded. What settlement window does FxLayer use?

A) 9 months B) The 180-day default C) 30 days D) No window

Question 2

A Bill of Entry has both a contract due date and credit days. Which is used?

A) The contract due date B) The credit days C) 180 days D) The later of the two

Question 3

In the demo, which purpose code is used for an advance payment for imports?

A) S0102 B) P0108 C) S0101 D) S1006

Question 4

The goods have arrived, the Bill of Entry is recorded and the advance is matched to it. Which document do you generate for the bank next?

A) Export extension request letter B) Monthly EDF C) Treaty papers request letter D) Settlement letter for IDPMS

Question 5

A Bill of Entry has a full value of Rs 14 lakh, with Rs 60,000 still open. Does it meet the Rs 10 lakh self-declared closure test?

A) No. The test is on the full bill value, which is above Rs 10 lakh B) Yes, the open amount is under Rs 10 lakh C) Yes, any import bill qualifies D) Only if paid in advance

Question 6

Your bank officer asks for "Form A1". What do you generate, and how does it print?

A) Form A2 on letterhead B) Form 145 worksheet in Excel C) The import remittance application, in RBI layout with no letterhead D) A payment request letter only

Question 7

You paid an advance last month and the goods have not arrived, so there is no Bill of Entry. Where does this advance show?

A) XOS B) Advances pending regularisation register C) Merchant export register D) EDF register

Question 8

Which uses does the payment request letter cover?

A) Export receipts only B) Advances only C) Service payments only D) Advance, payment against a Bill of Entry and the MTT import leg

General information. Confirm with your AD bank or CA.