Question 1

Which of the following is not a one of the different types of term of sale?

Accepted Answer

A)  FAS 
B)  FOB 
C)  CFR 
D)  FOP 
A)  FAS 
B)  FOB 
C)  CFR 
D)  FOP

Question 2

Which of the following is considered external factors in setting an export price?

Accepted Answer

A)  Specific target market customers 
B)  Cost of developing the product 
C)  Cost of producing the product 
D)  Cost of marketing the product 
A)  Specific target market customers 
B)  Cost of developing the product 
C)  Cost of producing the product 
D)  Cost of marketing the product

Question 3

The International Chamber of Commerce accepted standard definition for terms of sale in 1936 and revised them in 2000 assist buyers and sellers in the international marketplace. What are these standard definitions called?

Accepted Answer

A)  Buyer/Seller Pragmatism 
B)  E-commerce bylaws. 
C)  Setting prices constituencies 
D)  Incoterms 
A)  Buyer/Seller Pragmatism 
B)  E-commerce bylaws. 
C)  Setting prices constituencies 
D)  Incoterms

Question 4

Forfaiting provides the exporter with cash at the time of the shipment.

Accepted Answer

A) True 
 B)False

Question 5

What does Free Alongside Ship (FAS) mean?

Accepted Answer

A)  At a named U.S. Port of export the exporter quotes a price for the goods including delivery, alongside a vessel at the port. 
B)  The price is designated while traveling on a ship in an ocean. 
C)  The customs representatives pull upside the ship to make the pricing decision. 
D)  When other ships come alongside the vessel, there are not taxes making it free. 
A)  At a named U.S. Port of export the exporter quotes a price for the goods including delivery, alongside a vessel at the port. 
B)  The price is designated while traveling on a ship in an ocean. 
C)  The customs representatives pull upside the ship to make the pricing decision. 
D)  When other ships come alongside the vessel, there are not taxes making it free.

Question 6

When a draft is drawn on and accepted by a bank, what does it become?

Accepted Answer

A)  Money in the bank 
B)  Banker's acceptance 
C)  Surety 
D)  Break line 
A)  Money in the bank 
B)  Banker's acceptance 
C)  Surety 
D)  Break line

Question 7

What is a skimming price strategy?

Accepted Answer

In first-time pricing, one of the genera

Question 8

Some exporters prefer price stability to the greatest possible degree and allow mark-ups to vary in maintaining stable local currency prices.

Accepted Answer

A) True 
 B)False

Question 9

The most favorable term to the importer is consignment selling, which allows the importer to defer payment until the goods are actually sold.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not considered an Internal factor for setting and export price?

Accepted Answer

A)  Company philosophy 
B)  Goals 
C)  Objectives 
D)  Customer 
A)  Company philosophy 
B)  Goals 
C)  Objectives 
D)  Customer

Question 11

In preparing a quotation, an exporter must be careful to take into account three things. Which of the following is not one of those requirements?

Accepted Answer

A)  Government action in previous tariff related intergovernmental disputes. 
B)  The cost of modifying the product for foreign markets. 
C)  Operating costs of the export operation. 
D)  Costs incurred in entering the foreign market. 
A)  Government action in previous tariff related intergovernmental disputes. 
B)  The cost of modifying the product for foreign markets. 
C)  Operating costs of the export operation. 
D)  Costs incurred in entering the foreign market.

Question 12

What is a Letter of Credit?

Accepted Answer

A)  An instrument issued by a bank at the request of a buyer in which the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter. 
B)  A way to establish and maintain a credit card purchase. 
C)  Given to shipping companies who have a line of vessels. 
D)  An instrument of currency issued by a foreign government to the exporter. 
A)  An instrument issued by a bank at the request of a buyer in which the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter. 
B)  A way to establish and maintain a credit card purchase. 
C)  Given to shipping companies who have a line of vessels. 
D)  An instrument of currency issued by a foreign government to the exporter.

Question 13

Incoterms are the terms agreed upon by nation states that allow for incorporation of companies as recognized globally.

Accepted Answer

A) True 
 B)False

Question 14

CIF is the cost based on adding a simple set of formula to the price. What does CIF stand for?

Accepted Answer

A)  Cost in Foreignland 
B)  Cumulative infrastructure framework 
C)  Cost, insurance and freight 
D)  Consumers, involvement and framing. 
A)  Cost in Foreignland 
B)  Cumulative infrastructure framework 
C)  Cost, insurance and freight 
D)  Consumers, involvement and framing.

Question 15

Which of the following is not a factor to be considered in determining price of an exported product?

Accepted Answer

A)  The importance of price in consumer decision making. 
B)  The brand or brand family being considered. 
C)  The strength of perceived price-quality relationships. 
D)  Potential reactions to marketing mix manipulation by marketers. 
A)  The importance of price in consumer decision making. 
B)  The brand or brand family being considered. 
C)  The strength of perceived price-quality relationships. 
D)  Potential reactions to marketing mix manipulation by marketers.

Question 16

Which of the following is a draft most like?

Accepted Answer

A)  A money order. 
B)  A line of credit. 
C)  An established credit application. 
D)  A personal check. 
A)  A money order. 
B)  A line of credit. 
C)  An established credit application. 
D)  A personal check.

Question 17

An option gives the holder the right to buy or sell foreign currency at a pre-specified price on our up to a pre-specified date.

Accepted Answer

A) True 
 B)False

Question 18

The combined effect of both clear-cut and hidden costs results in export prices that far exceed domestic prices. This cause is known as:

Accepted Answer

A)  export pricing 
B)  seamless integration 
C)  relationship pricing 
D)  price escalation 
A)  export pricing 
B)  seamless integration 
C)  relationship pricing 
D)  price escalation

Which of the following is not a one of the different types of term of sale?

Which of the following is considered external factors in setting an export price?

The International Chamber of Commerce accepted standard definition for terms of sale in 1936 and revised them in 2000 assist buyers and sellers in the international marketplace. What are these standard definitions called?

Forfaiting provides the exporter with cash at the time of the shipment.

What does Free Alongside Ship (FAS) mean?

When a draft is drawn on and accepted by a bank, what does it become?

What is a skimming price strategy?

Some exporters prefer price stability to the greatest possible degree and allow mark-ups to vary in maintaining stable local currency prices.

The most favorable term to the importer is consignment selling, which allows the importer to defer payment until the goods are actually sold.

Which of the following is not considered an Internal factor for setting and export price?

In preparing a quotation, an exporter must be careful to take into account three things. Which of the following is not one of those requirements?

What is a Letter of Credit?

Incoterms are the terms agreed upon by nation states that allow for incorporation of companies as recognized globally.

CIF is the cost based on adding a simple set of formula to the price. What does CIF stand for?

Which of the following is not a factor to be considered in determining price of an exported product?

Which of the following is a draft most like?

An option gives the holder the right to buy or sell foreign currency at a pre-specified price on our up to a pre-specified date.

The combined effect of both clear-cut and hidden costs results in export prices that far exceed domestic prices. This cause is known as:

The International Marketing Environment

Trade Institutions and Trade Policy

The Cultural Environment

The Economic Environment

The Political and Legal Environment

Strategic Planning

Marketing Organization, Implementation, and Control

Research

Market Entry and Expansion

Product Adaptation

Marketing Communications

Distribution Management

Global Product Management and Branding

Global Services

Global Logistics and Materials Management

Global Pricing

Global Promotional Strategies

Filters

Exam 11: Export Pricing

Which of the following is not a one of the different types of term of sale?

Which of the following is considered external factors in setting an export price?

The International Chamber of Commerce accepted standard definition for terms of sale in 1936 and revised them in 2000 assist buyers and sellers in the international marketplace. What are these standard definitions called?

Forfaiting provides the exporter with cash at the time of the shipment.

What does Free Alongside Ship (FAS) mean?

When a draft is drawn on and accepted by a bank, what does it become?

What is a skimming price strategy?

Some exporters prefer price stability to the greatest possible degree and allow mark-ups to vary in maintaining stable local currency prices.

The most favorable term to the importer is consignment selling, which allows the importer to defer payment until the goods are actually sold.

Which of the following is not considered an Internal factor for setting and export price?

In preparing a quotation, an exporter must be careful to take into account three things. Which of the following is not one of those requirements?

What is a Letter of Credit?

Incoterms are the terms agreed upon by nation states that allow for incorporation of companies as recognized globally.

CIF is the cost based on adding a simple set of formula to the price. What does CIF stand for?

Which of the following is not a factor to be considered in determining price of an exported product?

Which of the following is a draft most like?

An option gives the holder the right to buy or sell foreign currency at a pre-specified price on our up to a pre-specified date.

The combined effect of both clear-cut and hidden costs results in export prices that far exceed domestic prices. This cause is known as:

The International Marketing Environment

Trade Institutions and Trade Policy

The Cultural Environment

The Economic Environment

The Political and Legal Environment

Strategic Planning

Marketing Organization, Implementation, and Control

Research

Market Entry and Expansion

Product Adaptation

Marketing Communications

Distribution Management

Global Product Management and Branding

Global Services

Global Logistics and Materials Management

Global Pricing

Global Promotional Strategies

Filters