Exam 16: Export and Import Management

The Japan External Trade Organization (JETRO) is affiliated with the U.S. department of Commerce.

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

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.

A(n) ________________________ is a payment form where a draft is so drawn as to be payable on presentation to the drawee (usually the buyer).

Brand reputation is a critical element in _________________ products.

_________________ exporting involves using independent U.S. middlemen to market the firm's products overseas.

The _________________ buys and sells on their own accounts and assumes all the responsibilities of exporting a product. Manufacturers do not control sales activities.

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:

Approximately how many databases (that can be used to help with international trade) are available online in the world?

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.

The following characteristics (high set-up costs, higher credit risks, and higher customer loyalty) apply to which of the following forms of exporting?

Three conditions are necessary for gray markets to develop. The conditions include: (a) Availability of products in other markets, (b) limited trade barriers, and (c) _______________________.

_______________ is usually the first entry mode of entry used by many companies.

___________________ are large, foreign organizations engaged in exporting and importing. They buy on their own account and export the goods to their home Country.

Piggyback exporting 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.

___________________ risk refers to the chances that payment will not be made due to the importer's inability to obtain U.S. dollars and transfer them to the Exporter.

In the U.S., ______________________ allows exporters to file export information at no cost over the Internet.

With respect to direct exporting, the primary difference between a foreign sales subsidiary and a foreign sales branch is that the foreign sales branch:

When independent U.S. middlemen market a firm's goods in an overseas market, they are called ______________________. They market through their own network Of foreign distributors and their own sales force.

Smuggling and black market activities are illegal global markets.