Question:
What is IMF? Discuss its .various objectives and functions.
Answer:
The IMF, or the International Monetary Fund, came into existence in 1945 with the objective of establishing a healthy and orderly monetary system. It aimed at facilitating a system of international payments and taking care of the adjustments in exchange rates among national currencies. It is one of the three international institutions—the other two being the World Bank and the International Trade Organization—that were created for facilitating and monitoring the economic development of the world.
Objectives of the IMF
- To aid the balanced growth of international trade and market, thereby promoting the growth of employment and income;
- To promote international monetary cooperation among the member countries;
- To facilitate the orderly exchange of goods between the member countries;
- To facilitate international payments with respect to the exchange transactions between the member countries.
Functions of the IMF
- Providing short-term credit to member countries;
- Maintaining stability in the exchange rate of the member countries;
- Fixing and altering the value of a country's currency whenever required, to facilitate the adjustment of exchange rate of member countries;
- Collecting the currencies of member countries so as to allow them to borrow the currency of other nations;
- Lending foreign currency to member nations and facilitating international payments with respect to the exchange transactions between member countries.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Explain the meaning of the following documents used in connection with import transactions
- Trade enquiry,
- Import license,
- Shipment of advice,
- Import general manifest,
- Bill of entry.
Q 4.
What is Advance License Scheme?
Q 5.
Discuss the process involved in securing for exports.
Q 6.
What is Shipping Bill?
Q 7.
What was the objective of MIGA?
Q 8.
Name the most important document of export.
Q 9.
List out major affiliated bodies of the World Bank.
Q 10.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 11.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 12.
What is the main objective of WTO?
Q 13.
Define Export Processing Zones.
Q 14.
Name the most important document used in import.
Q 15.
Why is export promotion necessary?
Q 16.
How many Export Promotion Councils are there in India?
Q 17.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 18.
When was State Trading Corporation established?
Q 19.
Discuss the principal documents used in exporting.
Q 20.
Santa Cruz is famous for which exclusive items?
Q 21.
How many regional and international offices does ITPO have?
Q 22.
Explain briefly the process of customs clearance of export goods.
Q 23.
What is pre-shipment finance?
Q 24.
What is IMF? Discuss its .various objectives and functions.
Q 25.
Give full form of EPZ and SEZ.
Q 26.
Write the full form of ICSID.
Q 27.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 28.
Who is a clearing agent?
Q 29.
Which agency of World Bank provides loan to private sector of developing countries?
Q 30.
How many Commodity Boards are there in India?
Q 31.
What is IEC number?
Q 32.
Write short note on Indent House and Dock Challan.
Q 33.
Discuss the formalities involved in getting an export license.
Q 34.
Name the certificate which is used for ensuring timely payment.
Q 35.
When was IIFT formed?
Q 36.
What is Performa Invoice?
Q 37.
Explain the term FOB.
Q 38.
Discuss the process involved in securing for exports.
Q 39.
Explain the meaning of Mate's Receipt.
Q 40.
Define Mate's Receipt.
Q 41.
Explain the steps of export procedure.
Q 42.
What is Bill of Lading? How does it differ from bill of entry?
Q 43.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 44.
Explain the term FOB.
Q 45.
Rekha Garments has received an order to export 2000 men's trousers to Swift Imports Ltd. located in Australia. Discuss the procedure that Rekha Garments would need to go through for executing the export order.
Q 46.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 47.
Discuss the principal documents used in exporting.
Q 48.
Write the full form of DTA.
Q 49.
What is a Letter of Credit? Why does an exporter need this document?
Q 50.
What is the purpose of pre-shipment finance?
