Exam 1: Introduction to International Business Transactions

Under U.S. law, treaties are not binding on state and local governments.

Soft currency refers to the currency of a country that may be exchanged for the currency another country without restriction.

The advantage of indirect exporting as opposed to direct exporting is:

Describe the general methods of conducting international business (exporting, etc.) and discuss The risks associated with each method.

The method by which a firm can move profits and costs from a high tax to a low tax country is:

Differences in the rules and remedies in the civil, common, and socialist legal systems that can give rise to unexpected liabilities in international business transactions is known as:

Management consulting would generally fall under which category for conducting international business:

Direct foreign investment measures the degree of trade in goods between two nations.

An agreement by a foreign seller to include as part of the sale in the foreign nation the use of parts or services from local suppliers in order to satisfy local content requirements is known as:

In order to reduce the political risk of expropriation or non-repatriation of currency, countries have entered into:

Which of the following geographic regions has not significantly contributed to an increase in world direct foreign investment.

The United Nations Convention on Contracts for the International Sale of Goods (CISG) requires a written document as proof that a contract has been formed.

An Export Trading Company (ETC) is a type of Export Management Company (EMC) that takes title to a product.

Export Management Companies work with individual exporters by acting as:

The process of purchasing goods from a foreign supplier and shipping them to the firm's home country is known as:

Countertrade arrangements between and among sovereign nations are known as:

Customs brokers act as the seller's or exporter's agent.

In the area of sale of goods, the civil law concept of Nachfrist Notice dictates that contractual delivery dates should not be strictly enforced unless the non-breaching party can give a commercially viable reason for not granting the extension.

Political risk assessment is difficult because of the scarcity of research materials.

Technology or intellectual property transfer is characterized as which type of international business transaction: