Question 1

Proactive firms do not consider exporting until their domestic market is saturated.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters?

Accepted Answer

A)  ELAN 
B)  EMC 
C)  MITI 
D)  SCORE 
A)  ELAN 
B)  EMC 
C)  MITI 
D)  SCORE

Question 3

A counterpurchase gives exporters more flexibility than an offset.

Accepted Answer

A) True 
 B)False

Question 4

An importer obtains a _____ from a local bank in a typical international transaction.

Accepted Answer

A)  draft 
B)  bill of lading 
C)  letter of credit 
D)  bill of exchange 
A)  draft 
B)  bill of lading 
C)  letter of credit 
D)  bill of exchange

Question 5

Foreign Credit Insurance Association is a part of the U.S Department of Commerce and guides the activities of the Export-Import Bank.

Accepted Answer

A) True 
 B)False

Question 6

Explain 3M's main export principles that have made the company's exporting business so successful.

Accepted Answer

One of the most successful exporting fir

Question 7

Which of the following is a document used to give the title of the products to a bank?

Accepted Answer

A)  Bill of lading 
B)  Letter of credit 
C)  Draft 
D)  Promissory note 
A)  Bill of lading 
B)  Letter of credit 
C)  Draft 
D)  Promissory note

Question 8

The U.S. Department of Commerce organizes trade events that help potential exporters make foreign contacts and explore export opportunities.

Accepted Answer

A) True 
 B)False

Question 9

The bill of lading does not serve as a document of title as such.

Accepted Answer

A) True 
 B)False

Question 10

A sight draft allows for a delay in payment.

Accepted Answer

A) True 
 B)False

Question 11

What is the Foreign Credit Insurance Association?

Accepted Answer

The Foreign Credit Insurance Association

Question 12

Barter is a reciprocal buying agreement that occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made.

Accepted Answer

A) True 
 B)False

Question 13

A _____ is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time.

Accepted Answer

A)  letter of credit 
B)  bill of lading 
C)  draft 
D)  banker's letter 
A)  letter of credit 
B)  bill of lading 
C)  draft 
D)  banker's letter

Question 14

Which of the following is a disadvantage of countertrade?

Accepted Answer

A)  Countertrade contracts may involve the exchange of unusable or poor-quality. 
B)  Countertrade requires the firm to use an out-of-house trading company to which much of the profit will go. 
C)  Countertrade contracts often involve high-quality, expensive goods that the firm cannot move enough of to be profitable. 
D)  Countertrade requires employing lawyers who specialize in these unique types of contracts. 
A)  Countertrade contracts may involve the exchange of unusable or poor-quality. 
B)  Countertrade requires the firm to use an out-of-house trading company to which much of the profit will go. 
C)  Countertrade contracts often involve high-quality, expensive goods that the firm cannot move enough of to be profitable. 
D)  Countertrade requires employing lawyers who specialize in these unique types of contracts.

Question 15

Which of the following statements is true of reactive firms?

Accepted Answer

A)  Reactive firms consider a variety of markets for selling their products and services. 
B)  They consider exporting only after their domestic market is saturated. 
C)  They systematically scan foreign markets for profitable export opportunities. 
D)  They create excess productive capacity and actively hunt for opportunities in foreign markets. 
A)  Reactive firms consider a variety of markets for selling their products and services. 
B)  They consider exporting only after their domestic market is saturated. 
C)  They systematically scan foreign markets for profitable export opportunities. 
D)  They create excess productive capacity and actively hunt for opportunities in foreign markets.

Question 16

The term switch trading refers to the use of a specialized third-party trading house in a countertrade arrangement.

Accepted Answer

A) True 
 B)False

Question 17

A _____ is issued to the exporter by the common carrier transporting the merchandise.

Accepted Answer

A)  bill of lading 
B)  sight draft 
C)  time draft 
D)  letter of credit 
A)  bill of lading 
B)  sight draft 
C)  time draft 
D)  letter of credit

Question 18

As a document of title, a _____ can be used to obtain payment or a written promise of payment before the merchandise is released to the importer.

Accepted Answer

A)  bill of lading 
B)  letter of credit 
C)  bill of exchange 
D)  draft 
A)  bill of lading 
B)  letter of credit 
C)  bill of exchange 
D)  draft

Question 19

Which of the following statements is true about Small Business Administration (SBA)?

Accepted Answer

A)  It is the most comprehensive source of export opportunities information. 
B)  SBA is a private organization managed by leaders of large corporate. 
C)  The SBA employs trade officers throughout the United States. 
D)  SBA offers help exclusively to small businesses that sell products within U.S.
The SBA employs 76 district international trade officers and 10 regional international trade officers throughout the United States as well as a 10-person international trade staff in Washington,D.C. 
A)  It is the most comprehensive source of export opportunities information. 
B)  SBA is a private organization managed by leaders of large corporate. 
C)  The SBA employs trade officers throughout the United States. 
D)  SBA offers help exclusively to small businesses that sell products within U.S.
The SBA employs 76 district international trade officers and 10 regional international trade officers throughout the United States as well as a 10-person international trade staff in Washington,D.C.

Question 20

Which of the following is a common difficulty that traders face when exporting goods or services to other countries?

Accepted Answer

A)  Small firms tend to be more aggressive than larger firms in global trade. 
B)  Governments do not provide much assistance to exporters. 
C)  Growth opportunities are often limited in global markets. 
D)  Exporters often face voluminous paperwork and complex formalities. 
A)  Small firms tend to be more aggressive than larger firms in global trade. 
B)  Governments do not provide much assistance to exporters. 
C)  Growth opportunities are often limited in global markets. 
D)  Exporters often face voluminous paperwork and complex formalities.

Proactive firms do not consider exporting until their domestic market is saturated.

Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters?

A counterpurchase gives exporters more flexibility than an offset.

An importer obtains a _____ from a local bank in a typical international transaction.

Foreign Credit Insurance Association is a part of the U.S Department of Commerce and guides the activities of the Export-Import Bank.

Explain 3M's main export principles that have made the company's exporting business so successful.

Which of the following is a document used to give the title of the products to a bank?

The U.S. Department of Commerce organizes trade events that help potential exporters make foreign contacts and explore export opportunities.

The bill of lading does not serve as a document of title as such.

A sight draft allows for a delay in payment.

What is the Foreign Credit Insurance Association?

Barter is a reciprocal buying agreement that occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made.

A _____ is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time.

Which of the following is a disadvantage of countertrade?

Which of the following statements is true of reactive firms?

The term switch trading refers to the use of a specialized third-party trading house in a countertrade arrangement.

A _____ is issued to the exporter by the common carrier transporting the merchandise.

As a document of title, a _____ can be used to obtain payment or a written promise of payment before the merchandise is released to the importer.

Which of the following statements is true about Small Business Administration (SBA)?

Which of the following is a common difficulty that traders face when exporting goods or services to other countries?

Globalization

National Differences in Political Economy, and Legal Systems

National Differences in Economic Development

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Global Production and Supply Chain Management

Global Marketing and RD

Global Human Resource Management

Accounting and Finance in the International Business

Filters

Exam 16: Exporting, Importing, and Countertrade

Proactive firms do not consider exporting until their domestic market is saturated.

Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters?

A counterpurchase gives exporters more flexibility than an offset.

An importer obtains a _____ from a local bank in a typical international transaction.

Foreign Credit Insurance Association is a part of the U.S Department of Commerce and guides the activities of the Export-Import Bank.

Explain 3M's main export principles that have made the company's exporting business so successful.

Which of the following is a document used to give the title of the products to a bank?

The U.S. Department of Commerce organizes trade events that help potential exporters make foreign contacts and explore export opportunities.

The bill of lading does not serve as a document of title as such.

A sight draft allows for a delay in payment.

What is the Foreign Credit Insurance Association?

Barter is a reciprocal buying agreement that occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made.

A _____ is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time.

Which of the following is a disadvantage of countertrade?

Which of the following statements is true of reactive firms?

The term switch trading refers to the use of a specialized third-party trading house in a countertrade arrangement.

A _____ is issued to the exporter by the common carrier transporting the merchandise.

As a document of title, a _____ can be used to obtain payment or a written promise of payment before the merchandise is released to the importer.

Which of the following statements is true about Small Business Administration (SBA)?

Which of the following is a common difficulty that traders face when exporting goods or services to other countries?

Globalization

National Differences in Political Economy, and Legal Systems

National Differences in Economic Development

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Global Production and Supply Chain Management

Global Marketing and RD

Global Human Resource Management

Accounting and Finance in the International Business

Filters