Documentos de Académico
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Documentos de Cultura
Mock Test
4. Study of full text (6 books) is necessary to pass the examination as there may be sub-sections with
minimum pass marks for each sub-section.
1. Release of foreign exchange is not permissible for remittance to which of the following countries
a. Russia
b. Bhutan
c. USA
d. Australia
2. Unspent Foreign exchange brought back to India by a returning traveller should be surrendered within
_______ days from the date of return
a. 60
b. 260
c. 180
d. 120
a. Purchase of lottery
a. $4,000
b. $2,000
c. $6,000
d. $10,000
e. $2,000
5. All of the following except one are permissible debits to EEFC Account
a. Payment outside India towards permitted current and capital account transactions
b. Payment of customs duty in accordance with the Foreign Trade Policy of the Central Government in
force
c. Payment in foreign exchange to a person resident in India for supply of goods/services including
payments for airfare and hotel expenditure
d. Payment towards meeting expenses on account of boarding , lodging and services related to travel
within India
6. All except one of the following are permissible sources of credit to RFC a/c
c. Foreign exchange received outside India as gift or inheritance from a person outside India
d. Gambling
7. The sum total of the accruals in the account during a calendar month should be converted into rupees on
or before _________
8. An individual resident in India may borrow a sum not exceeding _________ from his close relatives outside
India
a. USD 125000
b. USD 1 million
c. USD 250000
d. USD 200000
b. Indian citizens working abroad on assignments with Foreign Governments, Government Agencies
c. Officials of Central and State Government posted to their own Offices including Indian Diplomatic
Missions abroad
10. All requests for drawal of foreign exchange for other than imports are generally supported by _____ Form
unless specifically exempted
a. A2
b. A3
c. A4
d. A1
11. Repatriation of deposit amount and interest from NRE Account is freely permitted
a. True
b. False
12. On premature withdrawal of FCNR deposits before completion of the minimum stipulated period , no
interest is payable
a. True
b. False
a. True
b. False
14. The amount repatriable from NRO account should not exceed______ per financial year
a. 10 million
b. 15 million
c. 1 million
d. 9 million
15. Authorised Banks maintaining Non Resident Term Deposit Accounts are permitted to grant loans to NRIs in
India in Indian rupees without any ceiling
a. True
b. False
16. AD Category I banks are allowed to grant Rupee Loan to NRI employees of Indian Companies for acquiring
shares of the companies under ESOP scheme
a. True
b. False
17. Reporting of transfer of shares between Residents and Non Residents and vice versa is to be done in Form
a. FCGPR
b. FORM ODI
c. FORM 83
d. FCTRS
18. The form FCTRS should be submitted by AD Bank within___ days from the receipt of the amount of
consideration
a. 60
b. 120
c. 180
d. 360
19. As per Portfolio Investment Scheme, the Indian company raising the aggregate NRI investment limit of 10 to
24 percent should necessarily intimate the same to RBI
a. True
b. False
20. As per Portfolio Investment Scheme, the NRI investor has to take delivery of shares purchased and give
delivery of shares sold. Short selling is not permitted
a. TRUE
b. FALSE
21. Shares purchased by NRI's on the stock exchange under PIS cannot be transferred by way of sale under
private arrangements or by way of gift to a person resident in India or outside India without prior approval
from
a. AD Banks
b. RBI
c. FIPB
d. SEBI
b. Who or either of whose father and mother or grandfather or grandmother was a citizen of India
c. Whose father and mother are of foreign origin and settled in India
d. BOTH 1 & 2
a. SCHEDULE I
b. SCHEDULE II
c. SCHEDULE III
d. SCHEDULE IV
24. Permission for Remittance for Cultural tours is to be obtained from _______________
d. Home Ministry
25. Loans to NRIs cannot be granted for
a. Agricultural Activities
c. Plantation Activities
b. Aggregate Value of FCN , FCTC, FCBN exceeds usd 5000 or its equivalent
d. both a & c
27. How much foreign exchange is available for a business trip to Nepal?
a. USD 5000
b. USD 50000
c. USD 250000
d. Nil
28. Loan in Rupees by resident individuals to NRI close relatives can be remitted outside India.
a. True
b. False
29. Can housing loan provided to NRI/PIO by an Authorised Dealer for acquisition of a residential
accommodation in India be repaid by any close relative of the borrower?
a. Yes
b. No
30. The aggregate monetary ceiling separately prescribed for use of International Credit Cards through internet
is
a. USD 5000
b. USD 50000
c. USD 250000
d. No Limit
31. Drawal of foreign exchange for remittance for purchase of trademark or franchise in India requires approval
from RBI
a. AD Category I Bank
b. RBI
c. Government of India
d. FIPB
b. Print Media
c. Leasing
d. None
33. Resident Foreign Currency (Domestic)account can be debited for following payments
a. True
b. False
35. Investments in India made by Non-Resident Indians to the debit of NRO Account can be repatriated
a. True
b. False
36. A person resident in India is free to send (export) any gift article of value not exceeding USD 50,000 or its
equivalent provided export of that item is not prohibited under the extant foreign trade policy.
a. True
b. False
37. Joint account can be opened in the name of Resident Indian and a Non Resident Indian
a. True
b. False
38. An NRI may transfer any immovable property ( other than _______) to an NRI or a PIO resident outside India
a. Agricultural land
b. Plantation property
c. Farm house
39. AD Category I banks may at their discretion/commercial judgment allow for a period of not more than
_________ overdrawings in NRE savings bank account subject to certain terms and condition.
a. 1 month
b. 2 weeks
c. 1 week
d. 5 working days
40. Overdrawing in NRE savings bank account should not exceed Rs. ____
a. 10000
b. 50000
c. 100000
d. 250000