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Q-11- Export finance guarantee of ECGC protects

  1. overseas branches financing Indian exports.
  2. overseas branches financing Indian imports.
  3. banks providing foreign currency loans to contractors.
  4. banks providing foreign currency loans to correspondents.

Option-3 banks providing foreign currency loans to contractors.

Q-12- Pre-shipment advances against export incentives can be covered under

  1. export finance guarantee.
  2. export production finance guarantee.
  3. post-shipment export credit guarantee
  4. whole turnover post-shipment credit guarantee

Option-2 export production finance guarantee.

Q-13- The rate of premium payable to ECGC for eligible advances covered under whole turnover packing credit guarantee is

  1. 6 paise per Rs.100 p. on daily average products.
  2. 6 paise per Rs.100 p.m. on daily average products.
  3. 6 paise per Rs.100 p. on monthly average products.
  4. 6 paise per Rs.100 p. on yearly average products.

Option-1 6 paise per Rs.100 p. on daily average products

Q-14- The risk to a bank in confirming a letter of credit is covered by ECGC under

  1. transfer guarantee.
  2. export finance guarantee.
  3. export performance guarantee
  4. import and export finance guarantee.

Option-1 transfer guarantee.

Q-15- Under exchange fluctuation risk cover, the ECGC provides cover

  1. to banks against advances made deferred payment export.
  2. to banks for advances made in foreign currency to importers abroad
  3. to the exporters on deferred payment terms against exchange fluctuations.
  4. to banks for advances made in foreign currency to importers and exporters abroad

Option-3 to the exporters on deferred payment terms against exchange fluctuations.

Q-16- Working group consist of

  1. RBI
  2. RBI and ECGC
  3. EXIM Bank and ECGC
  4. RBI, EXIM Bank and ECGC

Option-4 RBI, EXIM Bank and ECGC

Q-17- Export Credit Guarantee Corporation(ECGC) policies do not cover risk against

  1. war in buyer’s country.
  2. cancellation of export licence.
  3. buyer’s protracted default to pay for the goods.
  4. buyer’s failure to obtain necessary import licence or exchange authorization from authorities in his country.

Option-4 buyer’s failure to obtain necessary import licence or exchange authorization from authorities in his country.

Q-18- For export guarantees issued a bank may obtain cover from ECGC under its

  1. bid bond guarantee.
  2. retention money guarantee.
  3. advance payment guarantee.
  4. export performance guarantee.

Option-1 export performance guarantee.

Q-19- Comprehensive risk policy covers

  1. only political risk.
  2. only commercial risk.
  3. both commercial and political risk
  4. None of the above

Option-3 both commercial and political risk

Q-20- Standard ECGC policy allows selection of

  1. Shipments
  2. buyers
  3. selected countries
  4. None of the above

Option-4 None of the above

These Insurance GK questions are important for students for having exposure of ECGC insurance. The policies available under ECGC are Small Exporter’s policy,Export Turnover Policy, Multi Buyer Exposure Policy, Multi Buyer (ITES) Policy or a Shipment Comprehensive Policy also known as Standard Policy.

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