Q.No.

Question Options Answer

1. i and iii only

Internal factors behind deteriorating trade balance with FTA
Partners are:
i. India's difficult business environment which makes it difficult 2. ii and iii only
to attract FDI and leverage this for trade flows;
1. ii. Lack of information and capacity amongst MSMEs to 3. i and ii only 3
understand and leverage FTAs for market gains
iii. These FTAs in practicality do not provide preference as most
of our competitors too have the same preference in those 4. none of the above
markets.
5. -

1. 696

2. 796

Total number of HS codes for agriculture at six digit level

2. 3. 969 1
approximately is:

4. 979

5. -

1. APEDA

2. Spice Board of India

Select the odd one out considering the product list under
3. 3. MPEDA 3
Agreement on agriculture?

4. Coconut development Board

5. -

1. High non tariff barriers

2. High level of subsidies

KRBL deals into big time exports of rice. The company now
wanted to shift from supplying rice to Thai market to NTL
4. 3. Tariff escalation 3
stating milled rice with 10% milling. What does the company
needs to look into?
4. Tariff peaks and dispersions

5. -

1. US supplier sells tobacco at US$ 200/mt in US market and sells at 150US$ in India

2. Tobacco imports in India have already crossed the trigger volume

For which of these can you as an Indian player in tobacco can
5. request Indian Government to have the safeguard duty of 60% 3. Tobacco is announced as Special product in India 4
against a supplier from US?

4. None of the above

5. -

1. Essential Commodity Act

2. APMC ACT

ITC has to plan for procuring wheat for its sharbatiaata brand.
6. 3. Land ceiling Act 2
What pushes the company to purchase from MP mandi.

4. Minimum procurement Price in MP

5. -

1. Tariff escalation

Adani exports into exports of sunflower oil have to plan for

participation in trade fair for the year 2017. Company has two 2. Selective tariff reduction
choices (i) to participate in trade fair to be held in Japan in
7. March 2017 and (ii) Anuga fair in Germany in October 2017. 3
What announcement about sunflower oil in 2016 in these 3. Special Safeguard measure
importing markets; will impact your decision to select the right
trade fair:
4. None of the above

5. -
8. Which subsidies can be given without being challenged in 1
WTO? 1. Disaster payments

2. Minimum Support Price

 3. Fertilizer subsidy

4. Seed subsidy

5. -

1. Blue Box

2. Amber Box

9. Direct compensatory payments fall under which box: 3. Green Box 1

4. None of the above

5. -

High transport cost relative to production cost, excess domestic capacity, standard
1.
product sold worldwide.

Assume a small developing country wants to attract foreign
direct investment (FDI) by imposing import restrictions. For
10. firms making products with the following characteristics, which 3.
would seem most likely to respond to the import restrictions by
making the FDI?
High transport cost relative to production cost, no excess domestic capacity, product
2.
alterations needed for local markets.
Low transport cost relative to production cost, excess domestic capacity, product 2
alterations needed for local markets.
Low transport cost relative to production cost, excess domestic capacity, standard
4.
product sold worldwide.

5. -

Lack of mutual recognition of qualification is also causing hurdles for our business
1.
professionals.

2. Reluctance of all WTO members for opening up services market

11. Not much gain realised in services because of - 3. Limitations imposed by all WTO members in all the 12 sectors of services 1

4. Prevalence of unskilled workers in the world

5. -

1. labour and environment

2. shift to negative lists approach in services

12. Rule making on non-trade issues include: 3. trade defence mechanism 1

4. trade creation and trade diversion issues

5. -

1. Switch from UR to Swiss formulae

2. Usage of 1986-88 as base period for tarrification

Developed countries were found to have dirty tariffication and
special tariff reduction. In order to counteract these challenges,
13. 3. Usage of 1991-92 as base period for tarrification 1
what did G-20 do to ensure market access to its agro trading
firms:-
4. Converted NTB into tariff barriers

5. -

1. 5% of it's FOB

2. 5% of it's VOP

Which one of the following statement is correct regarding

14. 3. 10% of it's VOP 3
deminimus for developing country:-

4. 10% of it's FOB

5. -
15. Goods liberalisation involves:- 1
1. Central element- elimination of tariff on "substantially all trade"

2. Demand from businesses for being part of global supply chain

3. complete liberalization (100 percent, substantially all the trade)

4. no increase in external barrier

 5. -

1. -

2. -

16. - 3. - 0

4. -

5. -