Exam 16: Export and Import Management

When attempting to identify an appropriate overseas market and an appropriate segment, consumer variables should be considered.All of the following are consumer variables that should be considered except:

For a firm beginning exports for the first time, the first step is to use available _____.

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

The World Bank is a federally supported bank whose mission is to support the Ex-Im Bank.

Conducting export research on China and Russia would best be done by:

The identification of an appropriate overseas market and an appropriate segment involves grouping by all of the following criteria except:

Chinese trading companies are known as sogo shosha.

When attempting to identify an appropriate overseas market and an appropriate segment, socioeconomic variables should be considered.All of the following are socioeconomic variables that should be considered except:

The high level of control the manufacturer has using an export merchant is the major benefit to using an export merchant.

Japanese trading companies such as Mitsui, Mitsubishi, Sumitomo, and Marubeni are known as _____; they operate worldwide and handle a significant proportion of Japanese foreign trade.

A billion dollars of exports supports about 500-1,000 US jobs.

About 90 percent of the world's trade is denominated in U.S.dollars.

Which of the following countries is the largest participant in database growth?

INCOTERMS 2010 which went into effect from January 1, 2011 and is an acronym for _____, are the internationally accepted standard definitions for the terms of sale by the International Chamber of Commerce.

The seller clears the goods for export and pays the cost of moving the goods to the port of destination.The buyer bears all the risks of loss and damage.The seller, however, purchases the cargo insurance.

Antidumping duties are assessed on imported merchandise sold to importers in the United States at a price that is less than the fair market value.

The Export-Import Bank operates at no cost to taxpayers in the United States.

U.S.merchandise exports and imports combined amounted to what percentage of the US GDP in 2017?

When using an export sales subsidiary, a firm must deal with transfer pricing.

A(n) _____ refers to the practice where U.S.firms that have an established export department assume, under a cooperative agreement, the responsibility of exporting the products of other U.S.companies.