Exam 16: Export and Import Management

FOB is an acronym for ______________________.

The terms of payment between the exporter and importer are a matter of negotiation and depend on a variety of factors. All of the following might be on that list of Factors EXCEPT:

When import duties are paid, the _________________ duty is a combination of a specified amount of the per unit weight or other quantity of the merchandise plus An ad valorem rate.

In the U.S., the Automated Export System (AES) enables exporters to file import information at no cost over the Internet.

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

A(n) _______________________ is a bill for the goods stating basic information about the transaction, including a description of the merchandise, total cost of the Goods sold, addresses of the buyer and seller, and delivery and payment.

When a shipment reaches the United States, the consignee (usually the importer) will file ______________ with the port director at the port of entry.

Describe gray markets. Explain how they develop. Describe your feelings about buying from a gray market.

_________________ exporting occurs when a manufacturer or exporter sells directly to an importer or buyer located in a foreign market.

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.

All of the following are common types of export representatives in the United States EXCEPT:

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

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 main emphasis of the Ex-Im Bank's lending practices today is in the area of:

___________________ risk exists when the sale is in the importer's currency and that currency depreciates in terms of the dollar, leaving the exporter with a lesser Number of dollars.

In 2011, an estimated _______________ American jobs depended on international trade and export expansion.

To get an idea of market segments in a foreign country, the marketer can first group regions within countries across the world by macroeconomic variables. An illustration of one of these macroeconomic variables would be:

_______________ risk is the risk that the importer will not pay or fail to pay on the agreed terms.

A shipment that is held by the importer until the merchandise has been sold is called:

Gray marketing is an illegal trade transaction.