Foreign Trade (Export and Import) Practice Exam

Foreign Trade (Export and Import) Practice Exam

Export-import commerce is one of the most profitable worldwide business prospects currently available. Geographic barriers are becoming less important as the world gets more technologically savvy. International trading is becoming more and more lucrative, both in terms of profit and personal happiness, as new trends in the global economic environment emerge. This qualification would allow you to work as an Export Coordinator, Merchandiser, Procurement Manager, Product Manager, and other positions that need an understanding of import and export regulations.

Skills Acquired

After successfully completing this Foreign Trade (Export & Import) certification you wil be able 

• Finance and budgeting are concepts that need to be grasped.
• Knowing how to use technology
• Understanding the rules for international trade compliance.
• Networking abilities.
• Analytical abilities.
• Accountability and adaptability are two important qualities to have.
• Possess the ability to receive input.
• Communication abilities

Who Should Take the exam?

This qualification is for people who want to work as export/import specialists in the future. It aims to help students, people wishing to grow their firm into the international market, those who are establishing a business, and those who are simply searching for work in an international trade company.

Course Outline

The Foreign Trade (Export&Import) covers the following topics:

International Trade

● Regulations of International Trade

● Risks in International Trade

● Top Trading Nations

● Top traded commodities (Exports)

International Trade – WTO

● GATT rounds of negotiations

● Functions of WTO

● Principles of the trading system

Export and Import

● Export

● Advantages of Exporting

● Disadvantages of Exporting

● Ways of exporting

● Making the export decision

● Import

Starting Exports – Important steps

● Basic Requirements

● IEC Number

● Export License

● Export Samples

● Export Pricing

● Steps for successful exporting

Role of Government Agencies

● Director General of Foreign Trade

● Export Promotion Councils

● Board of Trade

● Commodity Boards

● Institutes for export promotion

● India Trade Promotion Organization (ITPO)

● National Centre for Trade Information (NCTI)

● Export Inspection Council (EIC)

● Export Credit Guarantee Corporation

● Directorate General of Commercial Intelligence and Statistics (DGCI&S)

● Indian Trade Promotion Council (ITPO)

● Federation of Indian Exporters Organization (FIEO)

● Export-Import Bank (EXIM)

● Export Inspection Council

● Customs and Central Excise Department

● Marine Products Export Development Authority

● Learn about Agricultural and Processed Food Products Export Development Authority

● Indian Council of Arbitration

● Federation of Indian Export Organisations

● Department of Commercial Intelligence and Statistics

● Directorate General of Shipping

● Freight Investigation Bureau

● State Trading Corporation of India Limited (STC)

● Major State trading organizations in India

Export Documentation

● Pre-shipment Documents

● Post Shipment Documents

● Export Documents

Payment Terms

● Payment in Advance

● Letter of Credit

● Documentary Collections

● Open Account

INCOTERMS

● Classification

● Multi modal transport Rules

● Sea and Inland Waterway Transport Rules

● Trade Rules

Methods of Financing Exporters

● Pre Shipment Finance

● Post Shipment Advance

Export Assistance

● Importance of Export Assistance

● Export Promotion Measures in India

● Eligibility for Export/Trading/Star Trading/Super Star Trading Houses

● Rendering exports price competitive

● Strengthening Export Marketing Effort

● Special Economic Zones

● Export Processing Zone /Export Oriented Units

Processing of an export order

● Nature and Format of Export Order

● Examination and Confirmation of Export Order

● Central Excise Clearance

● Pre-shipment Inspection

● Appointment of Clearing and Forwarding Agents

● Transport of Goods to Port of Shipment

● Port Formalities and Customs Clearance

● Certificate of Origin and Shipment Advice

● Presentation of Documents to Bank

● Claiming Export Incentives

Product Development for Exports

● Product Development

● Planning for product development

● Sourcing new ideas

● The Product Development Process

● Market Research

● Successful Product Planning

● Packing and packaging

Export Marketing

● Export Readiness

● Identifying the right markets

● Market Entry for Exports

● Assessing Export Competitiveness

Imports

● Why Import

● Global Sourcing

● Import Requirements and Documentation

● Procedure to Import

● Import Duties

● Payment Methods

● Import Financing

● FEMA Guidelines relating to Imports

● Export Promotion Capital Goods Scheme - EPCG

Forex and Risk Management

● What is Foreign Exchange?

● Foreign Exchange as a Financial Market

● Foreign Exchange is an OTC Market (Over The Counter)

● Rates of Exchange

● Primary and Counter Currency

● Market Maker and Market Taker

● Bid/Offer Rate

● Middle Rate

● Cross Rates

● Factors affecting exchange rate fluctuations

● Major Currencies

● Understanding the effect of fluctuations in exchange rates

● Risks of foreign exchange to exporters and importers

● Managing risk

Electronic Data Interchange

● Advantages

● ASYCUDA

● EDI link ups

● Indian Customs EDI System (ICES)

National Foreign Trade Policy

● Foreign Trade Policy 2009-2014

● Foreign Trade Policy 2015-2020

Containerization and Transportation

● Modes of Transport

● Containerization

Managing Quality in Exports

● Services Quality

● ISO 9000 Standards

● List of Certification Bodies in India