Question 1

The U.S.government agency that provides loans,guarantees,and insurance programs to support American exporters is the _________ Bank.

Accepted Answer

Ex-Im or Export-Import
Explanation: The

Question 2

The Incoterm acronym CIP (named place of destination)refers to the situation where ______ and ______ are paid to destination,with risk passing from the seller when goods are handed to the carrier.

Accepted Answer

carriage ; insurance
Explanation: The In

Question 3

Once in export markets,new exporters tend to maintain their focus on them,despite what is happening in the home market.

Accepted Answer

A) True 
 B)False

Question 4

Once the firm knows that a potential market exists,it needs to do all of the following except

Accepted Answer

A)  choose between exporting directly or indirectly. 
B)  set up a foreign subsidiary. 
C)  consider seeking assistance from a trade specialist if it wishes to engage in indirect exporting. 
D)  find and establish overseas distribution if it decides to set up its own export operation. 
A)  choose between exporting directly or indirectly. 
B)  set up a foreign subsidiary. 
C)  consider seeking assistance from a trade specialist if it wishes to engage in indirect exporting. 
D)  find and establish overseas distribution if it decides to set up its own export operation.

Question 5

Freight forwarders' responsibilities include all except

Accepted Answer

A)  booking space on a ship. 
B)  preparing the export documents. 
C)  verifying that the seller has money in the bank. 
D)  arranging to have the merchandise delivered to the port. 
A)  booking space on a ship. 
B)  preparing the export documents. 
C)  verifying that the seller has money in the bank. 
D)  arranging to have the merchandise delivered to the port.

Question 6

Foreign trade zones are also called all of the following except

Accepted Answer

A)  free trade agreements. 
B)  transit zones. 
C)  free perimeters. 
D)  export processing zones. 
E)  free ports. 
A)  free trade agreements. 
B)  transit zones. 
C)  free perimeters. 
D)  export processing zones. 
E)  free ports.

Question 7

Three of the five export payment terms mentioned in the textbook are: __________,__________,and __________.

Accepted Answer

Cash in advance ; open account ; consign

Question 8

The Incoterm acronym CIF (named destination port)refers to

Accepted Answer

cost insurance freight
Explanation: The

Question 9

When a sale is made on ____________,the seller assumes all the payment-related risk,so such terms should be offered only to reliable customers.

Accepted Answer

open account
Explanation: When

Question 10

The Incoterm for the situation where the seller clears the goods for export and places them by the ship,and the risk passes to the buyer at the ship's rail,is

Accepted Answer

A)  DDP. 
B)  DAT. 
C)  CIF. 
D)  DAP. 
E)  FAS. 
A)  DDP. 
B)  DAT. 
C)  CIF. 
D)  DAP. 
E)  FAS.

Question 11

The Incoterm for the situation where the seller pays the costs of freight and insurance to bring goods to the destination port and the risk passes to the buyer once the goods are loaded aboard the ship,is

Accepted Answer

A)  CFR. 
B)  DAT. 
C)  CIF. 
D)  FOB. 
E)  FAS. 
A)  CFR. 
B)  DAT. 
C)  CIF. 
D)  FOB. 
E)  FAS.

Question 12

Exporting using ocean freight rather than air freight is a much cheaper alternative,particularly when calculated on the basis of total costs.

Accepted Answer

A) True 
 B)False

Question 13

On a consignment sale,the payment risk is

Accepted Answer

A)  assumed by the buyer. 
B)  assumed to be equally shared. 
C)  carried by the seller. 
D)  covered by insurance. 
E)  covered by the bank issuing the L/C. 
A)  assumed by the buyer. 
B)  assumed to be equally shared. 
C)  carried by the seller. 
D)  covered by insurance. 
E)  covered by the bank issuing the L/C.

Question 14

Among the mistakes most commonly made by new exporters,failing to consider the use of an ____________ company if the company cannot afford its own export department is a common one.

Accepted Answer

export management
Explanation:

Question 15

______ are universal trade terminology developed by the International Chamber of Commerce.

Accepted Answer

Incoterms
Explanation: Incoter

Question 16

The total number of Incoterms as of 2015 is

Accepted Answer

A)  7. 
B)  11. 
C)  15. 
D)  25. 
E)  variable (they vary as need dictates). 
A)  7. 
B)  11. 
C)  15. 
D)  25. 
E)  variable (they vary as need dictates).

Question 17

Which of the following is not typically done in a foreign trade zone?

Accepted Answer

A)  Storage 
B)  Inspection 
C)  Repackaging 
D)  Combination with other components 
E)  Exemption from duties for imported finished products 
A)  Storage 
B)  Inspection 
C)  Repackaging 
D)  Combination with other components 
E)  Exemption from duties for imported finished products

Question 18

A document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions is a

Accepted Answer

letter of credit
Explanation: A letter o

Question 19

The sale of an exporter's accounts receivable on ordinary goods,with the balance of the payment due upon delivery or soon after is known as

Accepted Answer

factoring
Explanation: The sal

Question 20

The CE mark in the EU

Accepted Answer

A)  shows that an export license has been issued. 
B)  indicates the electric current, DC or AC. 
C)  shows that the product conforms to health and safety standards. 
D)  indicates that the product was produced in the European Community. 
A)  shows that an export license has been issued. 
B)  indicates the electric current, DC or AC. 
C)  shows that the product conforms to health and safety standards. 
D)  indicates that the product was produced in the European Community.

The U.S.government agency that provides loans,guarantees,and insurance programs to support American exporters is the _________ Bank.

The Incoterm acronym CIP (named place of destination)refers to the situation where and are paid to destination,with risk passing from the seller when goods are handed to the carrier.

Once in export markets,new exporters tend to maintain their focus on them,despite what is happening in the home market.

Once the firm knows that a potential market exists,it needs to do all of the following except

Freight forwarders' responsibilities include all except

Foreign trade zones are also called all of the following except

Three of the five export payment terms mentioned in the textbook are: ,,and __.

The Incoterm acronym CIF (named destination port)refers to

When a sale is made on ____________,the seller assumes all the payment-related risk,so such terms should be offered only to reliable customers.

The Incoterm for the situation where the seller clears the goods for export and places them by the ship,and the risk passes to the buyer at the ship's rail,is

The Incoterm for the situation where the seller pays the costs of freight and insurance to bring goods to the destination port and the risk passes to the buyer once the goods are loaded aboard the ship,is

Exporting using ocean freight rather than air freight is a much cheaper alternative,particularly when calculated on the basis of total costs.

On a consignment sale,the payment risk is

Among the mistakes most commonly made by new exporters,failing to consider the use of an ____________ company if the company cannot afford its own export department is a common one.

______ are universal trade terminology developed by the International Chamber of Commerce.

The total number of Incoterms as of 2015 is

Which of the following is not typically done in a foreign trade zone?

A document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions is a

The sale of an exporter's accounts receivable on ordinary goods,with the balance of the payment due upon delivery or soon after is known as

The CE mark in the EU

The Challenging Context of International Business

International Trade and Investment

Sociocultural Forces

Sustainability and Natural Resources

Political Forces That Affect Global Trade

Intellectual Property Rights and Other Legal Forces

Economic and Socioeconomic Forces

The International Monetary System and Financial Forces

International Competitive Strategy

Organizational Design and Control

Global Leadership Issues and Practices

International Markets: Assessment and Entry Modes

Marketing Internationally

Managing Human Resources in an International Context

International Accounting and Financial Management

Appendix A: International Institutions From a Business Perspective

Appendix C: Global Operations and Supply Chain Management

Filters

Exam 17: Appendix B: Export and Import Practices

The U.S.government agency that provides loans,guarantees,and insurance programs to support American exporters is the _________ Bank.

The Incoterm acronym CIP (named place of destination)refers to the situation where ______ and ______ are paid to destination,with risk passing from the seller when goods are handed to the carrier.

Once in export markets,new exporters tend to maintain their focus on them,despite what is happening in the home market.

Once the firm knows that a potential market exists,it needs to do all of the following except

Freight forwarders' responsibilities include all except

Foreign trade zones are also called all of the following except

Three of the five export payment terms mentioned in the textbook are: __________,__________,and __________.

The Incoterm acronym CIF (named destination port)refers to

When a sale is made on ____________,the seller assumes all the payment-related risk,so such terms should be offered only to reliable customers.

The Incoterm for the situation where the seller clears the goods for export and places them by the ship,and the risk passes to the buyer at the ship's rail,is

The Incoterm for the situation where the seller pays the costs of freight and insurance to bring goods to the destination port and the risk passes to the buyer once the goods are loaded aboard the ship,is

Exporting using ocean freight rather than air freight is a much cheaper alternative,particularly when calculated on the basis of total costs.

On a consignment sale,the payment risk is

Among the mistakes most commonly made by new exporters,failing to consider the use of an ____________ company if the company cannot afford its own export department is a common one.

______ are universal trade terminology developed by the International Chamber of Commerce.

The total number of Incoterms as of 2015 is

Which of the following is not typically done in a foreign trade zone?

A document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions is a

The sale of an exporter's accounts receivable on ordinary goods,with the balance of the payment due upon delivery or soon after is known as

The CE mark in the EU

The Challenging Context of International Business

International Trade and Investment

Sociocultural Forces

Sustainability and Natural Resources

Political Forces That Affect Global Trade

Intellectual Property Rights and Other Legal Forces

Economic and Socioeconomic Forces

The International Monetary System and Financial Forces

International Competitive Strategy

Organizational Design and Control

Global Leadership Issues and Practices

International Markets: Assessment and Entry Modes

Marketing Internationally

Managing Human Resources in an International Context

International Accounting and Financial Management

Appendix A: International Institutions From a Business Perspective

Appendix C: Global Operations and Supply Chain Management

Filters

The Incoterm acronym CIP (named place of destination)refers to the situation where and are paid to destination,with risk passing from the seller when goods are handed to the carrier.

Three of the five export payment terms mentioned in the textbook are: ,,and __.