Question 1

The DES Incoterm is mostly used for bulk shipments of commodities where the parties wish to have the exporter pay for the unloading of the ship.

Accepted Answer

A) True 
 B)False

Question 2

Under the CFR Incoterm,until the merchandise has cleared the ship's ____________________,it is the responsibility of the exporter,after that,of the importer.

Accepted Answer

The answer of Under the CFR Incoterm,until the merchandise has...

Question 3

The Cost,Insurance,and Freight Incoterm is specifically designed for land transportation.

Accepted Answer

A) True 
 B)False

Question 4

The choice of a proper Incoterm is a critical decision because

Accepted Answer

A)  it can be an integral part of export strategy. 
B)  it is linked to the level of customer service the firm is attempting to provide. 
C)  it can be a competitive advantage. 
D)  All of the above 
E)  None of the above 
A)  it can be an integral part of export strategy. 
B)  it is linked to the level of customer service the firm is attempting to provide. 
C)  it can be a competitive advantage. 
D)  All of the above 
E)  None of the above

Question 5

The choice of the Incoterm is almost always the decision of the

Accepted Answer

A)  importer. 
B)  agent. 
C)  exporter. 
D)  distributor. 
E)  None of the above 
A)  importer. 
B)  agent. 
C)  exporter. 
D)  distributor. 
E)  None of the above

Question 6

Under the Cost,Insurance,and Freight Incoterm,the importer takes responsibility for the goods when they are placed upon the importer's loading dock.

Accepted Answer

A) True 
 B)False

Question 7

Incoterms stands for

Accepted Answer

A)  terminal incorporation procedures. 
B)  in-country termination. 
C)  international company terminology. 
D)  intercontinental term standards. 
E)  None of the above 
A)  terminal incorporation procedures. 
B)  in-country termination. 
C)  international company terminology. 
D)  intercontinental term standards. 
E)  None of the above

Question 8

Under the FOB Incoterm,in countries where export authorities require a pre-shipment inspection,the importer must pay for it.

Accepted Answer

A) True 
 B)False

Question 9

In planning their export strategy,companies generally determine which Incoterm they will use on a case-by-case basis.

Accepted Answer

A) True 
 B)False

Question 10

Under the DDU Incoterm,it is the responsibility of the importer to arrange and pay for the unloading of the goods.

Accepted Answer

A) True 
 B)False

Question 11

As of the revision in 2000,the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is

Accepted Answer

A)  Free Alongside Ship. 
B)  Ex-Works. 
C)  Cost and Freight. 
D)  Delivered Ex Quay. 
E)  None of the above 
A)  Free Alongside Ship. 
B)  Ex-Works. 
C)  Cost and Freight. 
D)  Delivered Ex Quay. 
E)  None of the above

Question 12

Under the ancient maritime custom regarding Free On Board,if a piece of cargo breaks loose while crossing the ship's rail and lands on the ship,it becomes the responsibility of

Accepted Answer

A)  the exporter. 
B)  the importer. 
C)  the harbor master. 
D)  All of the above 
E)  None of the above 
A)  the exporter. 
B)  the importer. 
C)  the harbor master. 
D)  All of the above 
E)  None of the above

Question 13

While on the surface Incoterms determine who pays what when,ultimately the _____ directly or indirectly pay(s)the costs of transportation and international shipping.

Accepted Answer

A)  importer 
B)  exporter 
C)  customs office 
D)  All of the above 
E)  None of the above 
A)  importer 
B)  exporter 
C)  customs office 
D)  All of the above 
E)  None of the above

Question 14

As far as the importer is concerned,under the DDP Incoterm,receiving an international shipment is no different that receiving a(n)_____________________ shipment.

Accepted Answer

The answer of As far as the importer is concerned,under...

Question 15

Incoterms determine

Accepted Answer

A)  how much the agents commission will be. 
B)  which tasks will be performed by the exporter. 
C)  how much duty will be charged by the importing country. 
D)  All of the above 
E)  None of the above 
A)  how much the agents commission will be. 
B)  which tasks will be performed by the exporter. 
C)  how much duty will be charged by the importing country. 
D)  All of the above 
E)  None of the above

Question 16

Under Incoterm DEQ,transfer of responsibility for cargo from importer to exporter is at the ship's rail as the cargo is loaded onto the ship

Accepted Answer

A) True 
 B)False

Question 17

In terms of cost and responsibility,the easiest Incoterm for the exporter which is,in turn,the most difficult for the importer is

Accepted Answer

A)  Delivered Duty Unpaid (DDU). 
B)  Ex-Works (EXW). 
C)  Delivered Duty Paid (DDP). 
D)  Delivered at Frontier (DAF). 
E)  None of the above 
A)  Delivered Duty Unpaid (DDU). 
B)  Ex-Works (EXW). 
C)  Delivered Duty Paid (DDP). 
D)  Delivered at Frontier (DAF). 
E)  None of the above

Question 18

The Incoterm CPT means "____________________ Paid To."

Accepted Answer

The answer of The Incoterm CPT means "____________________ Paid To."...

Question 19

The FOB term not only means "Free On Board," it is also sometimes referred to as

Accepted Answer

A)  Freight On Bow. 
B)  Free Over Bow. 
C)  Freight On Board. 
D)  Freight Over Ballast. 
E)  None of the above 
A)  Freight On Bow. 
B)  Free Over Bow. 
C)  Freight On Board. 
D)  Freight Over Ballast. 
E)  None of the above

Question 20

The Incoterm DDU means "Delivered _____________________ Unpaid."

Accepted Answer

The answer of The Incoterm DDU means "Delivered _____________________ Unpaid."...

The DES Incoterm is mostly used for bulk shipments of commodities where the parties wish to have the exporter pay for the unloading of the ship.

Under the CFR Incoterm,until the merchandise has cleared the ship's ____________________,it is the responsibility of the exporter,after that,of the importer.

The Cost,Insurance,and Freight Incoterm is specifically designed for land transportation.

The choice of a proper Incoterm is a critical decision because

The choice of the Incoterm is almost always the decision of the

Under the Cost,Insurance,and Freight Incoterm,the importer takes responsibility for the goods when they are placed upon the importer's loading dock.

Incoterms stands for

Under the FOB Incoterm,in countries where export authorities require a pre-shipment inspection,the importer must pay for it.

In planning their export strategy,companies generally determine which Incoterm they will use on a case-by-case basis.

Under the DDU Incoterm,it is the responsibility of the importer to arrange and pay for the unloading of the goods.

As of the revision in 2000,the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is

Under the ancient maritime custom regarding Free On Board,if a piece of cargo breaks loose while crossing the ship's rail and lands on the ship,it becomes the responsibility of

While on the surface Incoterms determine who pays what when,ultimately the _____ directly or indirectly pay(s)the costs of transportation and international shipping.

As far as the importer is concerned,under the DDP Incoterm,receiving an international shipment is no different that receiving a(n)_____________________ shipment.

Incoterms determine

Under Incoterm DEQ,transfer of responsibility for cargo from importer to exporter is at the ship's rail as the cargo is loaded onto the ship

In terms of cost and responsibility,the easiest Incoterm for the exporter which is,in turn,the most difficult for the importer is

The Incoterm CPT means "____________________ Paid To."

The FOB term not only means "Free On Board," it is also sometimes referred to as

The Incoterm DDU means "Delivered _____________________ Unpaid."

Introduction

International Supply Chain Management

International Logistics Infrastructure

Methods of Entry into Foreign Markets

International Contracts

Terms of Payment

Currency of Payment (Managing Transaction Risks)

International Commercial Documents

International Insurance

International Ocean Transportation

International Air Transportation

International Land and Multi-Modal Transportation

Packaging for Export

International Logistics Security

Customs Clearance

Using International Logistics for Strategic Advantage

Filters

Exam 6: Terms of Trade or Incoterms

The DES Incoterm is mostly used for bulk shipments of commodities where the parties wish to have the exporter pay for the unloading of the ship.

Under the CFR Incoterm,until the merchandise has cleared the ship's ____________________,it is the responsibility of the exporter,after that,of the importer.

The Cost,Insurance,and Freight Incoterm is specifically designed for land transportation.

The choice of a proper Incoterm is a critical decision because

The choice of the Incoterm is almost always the decision of the

Under the Cost,Insurance,and Freight Incoterm,the importer takes responsibility for the goods when they are placed upon the importer's loading dock.

Incoterms stands for

Under the FOB Incoterm,in countries where export authorities require a pre-shipment inspection,the importer must pay for it.

In planning their export strategy,companies generally determine which Incoterm they will use on a case-by-case basis.

Under the DDU Incoterm,it is the responsibility of the importer to arrange and pay for the unloading of the goods.

As of the revision in 2000,the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is

Under the ancient maritime custom regarding Free On Board,if a piece of cargo breaks loose while crossing the ship's rail and lands on the ship,it becomes the responsibility of

While on the surface Incoterms determine who pays what when,ultimately the _____ directly or indirectly pay(s)the costs of transportation and international shipping.

As far as the importer is concerned,under the DDP Incoterm,receiving an international shipment is no different that receiving a(n)_____________________ shipment.

Incoterms determine

Under Incoterm DEQ,transfer of responsibility for cargo from importer to exporter is at the ship's rail as the cargo is loaded onto the ship

In terms of cost and responsibility,the easiest Incoterm for the exporter which is,in turn,the most difficult for the importer is

The Incoterm CPT means "____________________ Paid To."

The FOB term not only means "Free On Board," it is also sometimes referred to as

The Incoterm DDU means "Delivered _____________________ Unpaid."

Introduction

International Supply Chain Management

International Logistics Infrastructure

Methods of Entry into Foreign Markets

International Contracts

Terms of Payment

Currency of Payment (Managing Transaction Risks)

International Commercial Documents

International Insurance

International Ocean Transportation

International Air Transportation

International Land and Multi-Modal Transportation

Packaging for Export

International Logistics Security

Customs Clearance

Using International Logistics for Strategic Advantage

Filters