Question 1

Which of the following can also function as collateral against loans?

Accepted Answer

A) Certificate of origin 
B) Export declaration 
C) License 
D) Customs invoice 
E) Bill of lading

Question 2

What is the Japan External Trade Organization (JETRO)?

Accepted Answer

The answer of What is the Japan External Trade Organization...

Question 3

In _____ the company delegates an entire process (e.g., accounts payable) to an outsource vendor.

Accepted Answer

A) importing 
B) open sourcing 
C) insourcing 
D) outsourcing 
E) exporting

Question 4

Companies use distributors because distributors know the local market and are a cost-effective way to enter that market.

Accepted Answer

A) True 
 B)False

Question 5

In a(n) _____ joint venture, there is no contribution of capital to form a new entity.

Accepted Answer

The answer of In a(n) _____ joint venture, there is...

Question 6

Import duties are lower for countries that are designated as a "most favored nation."

Accepted Answer

A) True 
 B)False

Question 7

Customs administration offices in both the home country and the country to which the item is being exported are involved in the transaction of goods.

Accepted Answer

A) True 
 B)False

Question 8

What are the challenges posed by joint ventures for the companies involved?

Accepted Answer

The answer of What are the challenges posed by joint...

Question 9

A _____ typically prepares the documentation, suggests shipping methods, navigates trade regulations, and assists with details like packing and labeling.

Accepted Answer

A) freight forwarder 
B) crew manager 
C) fleet superintendent 
D) marine superintendent 
E) reefer product manager

Question 10

Distributors or export intermediaries are barred from taking title to the goods and then reselling them.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following methods of energy generation would leave the lowest carbon footprint?

Accepted Answer

A) Thermal 
B) Geothermal 
C) Crude oil 
D) Nuclear 
E) Natural gas

Question 12

Which of the following statements holds true for the World Customs Organization (WCO)?

Accepted Answer

A) It created a framework that calls for the handing over of the control of the customs department of politically unstable countries to the WCO. 
B) It created a framework that calls for the establishment of a super customs department that would control the customs departments of individual countries. 
C) It created a framework that calls for cooperation between the customs administrations of different countries. 
D) It created a framework that calls for the economic isolation of those countries that refuse to cooperate on customs related matters. 
E) It created a framework that calls for the creation of a fund to help strengthen the customs departments of the member countries.

Question 13

_____ refers to an organization that assists foreign companies in exporting their products to Japan by providing free-market entry information and business-partner matching as well as some subsidies.

Accepted Answer

A) Japan Bank for International Cooperation 
B) Japan External Trade Organization 
C) Development Bank of Japan 
D) Master Trust Bank of Japan 
E) Japan Post Bank Company

Question 14

In a(n) _____ structure, the seller receives cash contingent on the seller buying local products or services in the amount of (or a percentage of) the cash.

Accepted Answer

A) counter purchase 
B) barter 
C) switch trading 
D) buyback 
E) offset

Question 15

This document is given to customs and port authorities during export transaction and the information in the document is used to compile statistics about exports from the country.This document is known as the _____.

Accepted Answer

The answer of This document is given to customs and...

Question 16

_____ is defined as the sale of products and services in foreign countries that are sourced or made in the home country.

Accepted Answer

A) Open sourcing 
B) Offshoring 
C) Exporting 
D) Importing 
E) Farmshoring

Question 17

The term _____ refers to a situation in which an exporter sells a time draft at a discount to an intermediary (often a bank) that will pay the exporter immediately and then collect the full amount from the importer at the later date.

Accepted Answer

A) free on board 
B) goodwill 
C) factoring 
D) flight capital 
E) cash in advance

Question 18

In global sourcing, ocean transport has a higher carbon footprint compared to transporting goods by air and truck.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following statements holds true for contract manufacturing?

Accepted Answer

A) It refers to the issue of tenders leading to the awarding of contracts to manufacturing companies. 
B) It refers to the insourcing of manufacturing activities of an organization. 
C) It refers to the outsourcing of manufacturing activities of an organization. 
D) It refers to the laying down of special contract agreements by governments to attract manufacturing companies. 
E) It refers to the social contract between the community and a manufacturing organization on environmental issues.

Question 20

The _____ certification is a mark that a company's products and services have met quality standards and that the company has quality-management processes in place.

Accepted Answer

The answer of The _____ certification is a mark that...

Exam 9: Exporting, Importing, and Global Sourcing

Which of the following can also function as collateral against loans?

What is the Japan External Trade Organization (JETRO)?

In _____ the company delegates an entire process (e.g., accounts payable) to an outsource vendor.

Companies use distributors because distributors know the local market and are a cost-effective way to enter that market.

In a(n) _____ joint venture, there is no contribution of capital to form a new entity.

Import duties are lower for countries that are designated as a "most favored nation."

Customs administration offices in both the home country and the country to which the item is being exported are involved in the transaction of goods.

What are the challenges posed by joint ventures for the companies involved?

A _____ typically prepares the documentation, suggests shipping methods, navigates trade regulations, and assists with details like packing and labeling.

Distributors or export intermediaries are barred from taking title to the goods and then reselling them.

Which of the following methods of energy generation would leave the lowest carbon footprint?

Which of the following statements holds true for the World Customs Organization (WCO) ?

_____ refers to an organization that assists foreign companies in exporting their products to Japan by providing free-market entry information and business-partner matching as well as some subsidies.

In a(n) _____ structure, the seller receives cash contingent on the seller buying local products or services in the amount of (or a percentage of) the cash.

This document is given to customs and port authorities during export transaction and the information in the document is used to compile statistics about exports from the country.This document is known as the _____.

_____ is defined as the sale of products and services in foreign countries that are sourced or made in the home country.

The term _____ refers to a situation in which an exporter sells a time draft at a discount to an intermediary (often a bank) that will pay the exporter immediately and then collect the full amount from the importer at the later date.

In global sourcing, ocean transport has a higher carbon footprint compared to transporting goods by air and truck.

Which of the following statements holds true for contract manufacturing?

The _____ certification is a mark that a company's products and services have met quality standards and that the company has quality-management processes in place.