Question 1

Among the following,the most customer-friendly Incoterm is

Accepted Answer

A)  FCA. 
B)  CIP. 
C)  DDU. 
D)  DES. 
E)  None of the above 
A)  FCA. 
B)  CIP. 
C)  DDU. 
D)  DES. 
E)  None of the above

Question 2

Electronic Data Interchange (EDI)has changed what issue in Incoterms?

Accepted Answer

A)  who pays for insurance 
B)  who pays for import clearance 
C)  documentation of delivery 
D)  All of the above. 
E)  None of the above. 
A)  who pays for insurance 
B)  who pays for import clearance 
C)  documentation of delivery 
D)  All of the above. 
E)  None of the above.

Question 3

It is always best to use only one term of trade in a quote to a potential customer so that there is no possible confusion.

Accepted Answer

A) True 
 B)False

Question 4

Conceptually,the CPT Incoterm is the same as the CFR Incoterm,except it applies to goods shipped by means other than ocean transport,or shipped by sea without being handed over the ship's rail (roll-on-roll-off cargo or intermodal containers).

Accepted Answer

A) True 
 B)False

Question 5

Under the CPT Incoterm,the ____________________ is responsible for unloading the goods from the carrier's truck,clearing customs,and paying for any inland transportation beyond the city of destination.

Accepted Answer

The answer of Under the CPT Incoterm,the ____________________ is responsible...

Question 6

Under the CPT Incoterm,the bill of ____________________ can act as a proof of delivery from the carrier.

Accepted Answer

The answer of Under the CPT Incoterm,the bill of ____________________...

Question 7

Under the Incoterm FOB,responsibility for the cargo

Accepted Answer

A)  shifts from exporter to importer at the ship's rail. 
B)  shifts from exporter to importer when the goods are placed on the exporter's loading dock. 
C)  shifts from exporter to importer when the goods are unloaded from the ship in the country to which the goods are going. 
D)  shifts from exporter to importer when the importer pays the exporter. 
E)  None of the above 
A)  shifts from exporter to importer at the ship's rail. 
B)  shifts from exporter to importer when the goods are placed on the exporter's loading dock. 
C)  shifts from exporter to importer when the goods are unloaded from the ship in the country to which the goods are going. 
D)  shifts from exporter to importer when the importer pays the exporter. 
E)  None of the above

Question 8

The least customer-friendly of the Incoterms in the EXW (Ex-Works)Incoterm.

Accepted Answer

A) True 
 B)False

Question 9

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter.This receipt can be

Accepted Answer

A)  a sea waybill. 
B)  an air waybill. 
C)  a multi-modal bill of lading. 
D)  All of the above 
E)  None of the above 
A)  a sea waybill. 
B)  an air waybill. 
C)  a multi-modal bill of lading. 
D)  All of the above 
E)  None of the above

Question 10

The Incoterm CPT means "Cargo Placed at Terminal."

Accepted Answer

A) True 
 B)False

Question 11

Variants to the CFR Incoterm were created to reflect which of the trade partners was responsible for unloading costs.When the exporter bears the costs,the term "CFR ____________________" is used.

Accepted Answer

The answer of Variants to the CFR Incoterm were created...

Question 12

The only difference between the Delivered Ex Ship Incoterm and the Delivered Ex Quay Incoterm is

Accepted Answer

A)  the unloading costs of the ship at the port of destination are borne by the exporter in the Delivered Ex Quay transaction. 
B)  the unloading costs of the ship at the port of destination are borne by the importer in the Delivered Ex Quay transaction. 
C)  both importer and exporter share unloading costs of the ship at the port of destination in the Delivered Ex Quay transaction. 
D)  unloading costs are borne by the ship owner in the Delivered Ex Quay transaction. 
E)  None of the above 
A)  the unloading costs of the ship at the port of destination are borne by the exporter in the Delivered Ex Quay transaction. 
B)  the unloading costs of the ship at the port of destination are borne by the importer in the Delivered Ex Quay transaction. 
C)  both importer and exporter share unloading costs of the ship at the port of destination in the Delivered Ex Quay transaction. 
D)  unloading costs are borne by the ship owner in the Delivered Ex Quay transaction. 
E)  None of the above

Question 13

The Incoterm EXW specifies what regarding delivery?

Accepted Answer

A)  the mode of transportation for delivery 
B)  who pays for delivery 
C)  who buys insurance for delivery 
D)  All of the above 
E)  None of the above 
A)  the mode of transportation for delivery 
B)  who pays for delivery 
C)  who buys insurance for delivery 
D)  All of the above 
E)  None of the above

Question 14

An Incoterm expressed as "CIP Sofia,Bulgaria,Incoterms 2000" means that under Incoterms as of 2000,the goods are "Carriage and Insurance Paid" to Sofia,Bulgaria,where the importer will take control of them.

Accepted Answer

A) True 
 B)False

Question 15

The Incoterm(s)requiring the exporter to pay import duty is/are

Accepted Answer

A)  FCA. 
B)  CIP. 
C)  DDP. 
D)  All of the above 
E)  None of the above 
A)  FCA. 
B)  CIP. 
C)  DDP. 
D)  All of the above 
E)  None of the above

Question 16

Under the FAS Incoterm,in countries where export authorities require a pre-shipment inspection,the ____________________ has to pay for it.

Accepted Answer

The answer of Under the FAS Incoterm,in countries where export...

Among the following,the most customer-friendly Incoterm is

Electronic Data Interchange (EDI)has changed what issue in Incoterms?

It is always best to use only one term of trade in a quote to a potential customer so that there is no possible confusion.

Conceptually,the CPT Incoterm is the same as the CFR Incoterm,except it applies to goods shipped by means other than ocean transport,or shipped by sea without being handed over the ship's rail (roll-on-roll-off cargo or intermodal containers).

Under the CPT Incoterm,the ____________________ is responsible for unloading the goods from the carrier's truck,clearing customs,and paying for any inland transportation beyond the city of destination.

Under the CPT Incoterm,the bill of ____________________ can act as a proof of delivery from the carrier.

Under the Incoterm FOB,responsibility for the cargo

The least customer-friendly of the Incoterms in the EXW (Ex-Works)Incoterm.

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter.This receipt can be

The Incoterm CPT means "Cargo Placed at Terminal."

Variants to the CFR Incoterm were created to reflect which of the trade partners was responsible for unloading costs.When the exporter bears the costs,the term "CFR ____________________" is used.

The only difference between the Delivered Ex Ship Incoterm and the Delivered Ex Quay Incoterm is

The Incoterm EXW specifies what regarding delivery?

An Incoterm expressed as "CIP Sofia,Bulgaria,Incoterms 2000" means that under Incoterms as of 2000,the goods are "Carriage and Insurance Paid" to Sofia,Bulgaria,where the importer will take control of them.

The Incoterm(s)requiring the exporter to pay import duty is/are

Under the FAS Incoterm,in countries where export authorities require a pre-shipment inspection,the ____________________ has to pay for it.

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

Among the following,the most customer-friendly Incoterm is

Electronic Data Interchange (EDI)has changed what issue in Incoterms?

It is always best to use only one term of trade in a quote to a potential customer so that there is no possible confusion.

Conceptually,the CPT Incoterm is the same as the CFR Incoterm,except it applies to goods shipped by means other than ocean transport,or shipped by sea without being handed over the ship's rail (roll-on-roll-off cargo or intermodal containers).

Under the CPT Incoterm,the ____________________ is responsible for unloading the goods from the carrier's truck,clearing customs,and paying for any inland transportation beyond the city of destination.

Under the CPT Incoterm,the bill of ____________________ can act as a proof of delivery from the carrier.

Under the Incoterm FOB,responsibility for the cargo

The least customer-friendly of the Incoterms in the EXW (Ex-Works)Incoterm.

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter.This receipt can be

The Incoterm CPT means "Cargo Placed at Terminal."

Variants to the CFR Incoterm were created to reflect which of the trade partners was responsible for unloading costs.When the exporter bears the costs,the term "CFR ____________________" is used.

The only difference between the Delivered Ex Ship Incoterm and the Delivered Ex Quay Incoterm is

The Incoterm EXW specifies what regarding delivery?

An Incoterm expressed as "CIP Sofia,Bulgaria,Incoterms 2000" means that under Incoterms as of 2000,the goods are "Carriage and Insurance Paid" to Sofia,Bulgaria,where the importer will take control of them.

The Incoterm(s)requiring the exporter to pay import duty is/are

Under the FAS Incoterm,in countries where export authorities require a pre-shipment inspection,the ____________________ has to pay for it.

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