Exam 16: Export and Import Management

A confirmed irrevocable letter of credit is issued by the ____________ bank and confirmed by a bank usually in the ____________ country.

All of the following conditions lend to the development of gray markets EXCEPT:

FOB is an acronym for ______________________.

With respect to shipments entering the United States,a(n)__________ is a guarantee by someone that the duties and any potential penalties will be paid to the customs Of the importing country.

Gray market channels are also known as parallel imports.

A bill of lading is a contract between the exporter and the shipper indicating that the shipper has accepted responsibility for the goods and will provide transportation in return for payment.

Merchandise arriving from Canada and Mexico,trade fair goods,and perishable goods and shipments assigned to the U.S.government almost always utilize the ____________________ to enable fast delivery after arrival.

In order to expand their exporting activities,many Japanese firms rely on giant general trading companies known as _________________________.

______________________ duties are duties that are assessed to counter the effects of subsidies provided by foreign governments to goods that are exported To the United States.

Since most world trade is done in dollars,the U.S.importer does not usually need to _____________ foreign exchange transactions.

When the exporter quotes a price for the goods,including charges for delivery of the goods alongside a vessel at a port (the seller covers all costs of unloading and Wharfage plus loading the goods on the vessel and the buyer covers all other charges To get the goods to the buyer),this form of terms of shipment is called:

The easiest product to sell abroad with respect to logistics is a(n)_____________ product.

With respect to importing fees,a(n)______________ duty is a percentage of the value of the merchandise.

A confirmed irrevocable letter of credit is issued by the importer's bank and confirmed by a bank usually in the exporter's country.

Ex-Im Bank has two major programs in place which include:

A(n)____________________ places orders on behalf of its foreign clients with U.S.manufacturers and acts as a finder for its client to get the best buy.

The combination export manager (CEM)acts as the import department to a small importer.

When the exporter quotes a price for the goods,including charges for delivery of the goods alongside a vessel at a port (the seller covers all costs of unloading and Wharfage at the shipment port and the buyer covers all other charges to get the goods To the buyer),this form of terms of shipment is called:

Exports represent about 4 percent of the U.S.gross domestic product (GDP).

Ex-Im Bank is not an aid or development agency,but a_____________________ corporation.