Question 1

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Accepted Answer

The common mistake is making an insufficient commitment to overcome the initial difficulties and financial requirements of exporting.

Question 2

The total number of Incoterms as of 2015 is

Accepted Answer

Eleven internationally standardized terms describe the conditions of sale and the responsibilities of the buyer and seller in international trade transactions.

Question 3

Incoterms are developed and maintained by

Accepted Answer

The International Chamber of Commerce created Incoterms.

Question 4

Ex-Works is a short way to say

Accepted Answer

Ex-Works is a short way to say that the seller makes goods available at the factory or warehouse, where risk passes to the buyer.

Question 5

The Incoterm for the situation when carriage is paid to a specified destination,the seller pays for carriage,while risk passes to the buyer when the goods are handed to the carrier is

Accepted Answer

The Incoterm for the situation when carriage is paid to a specified destination, the seller pays for carriage, while risk passes to the buyer when the goods are handed to the carrier is CPT, or "carriage paid to."

Question 6

Incoterms describe three issues that arise in a commercial transaction.Which of the following is not one of these issues?

Accepted Answer

Incoterms describe the three issues that arise in a commercial transaction: which party does which tasks, which party covers the costs, and which party bears the risk.

Question 7

Which of the following were not identified as being part of the export marketing plan?

Accepted Answer

The export marketing plan would not typically include information about production plans.

Question 8

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Accepted Answer

One of the common mistakes is neglecting the export business when the home market booms.

Question 9

Which of the following were not identified as being part of the export marketing plan?

Accepted Answer

The export marketing plan would not typically include information about staffing requirements.

Question 10

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Accepted Answer

Failure to set up an export management company is not one of the common mistakes.

Question 11

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Accepted Answer

The common mistake is failing to treat international distributors on an equal basis with domestic counterparts.

Question 12

Credit information can be available for new exporters through all of the following except

Accepted Answer

Credit reporting agencies, such as Dun & Bradstreet, the Finance, Credit, and International Business Association (FCIB), and the exporter's bank are a source of credit information.

Question 13

The Incoterm for the situation when carriage and insurance are paid to a specified destination,while risk passes to the buyer when the goods are handed to the carrier,is

Accepted Answer

The Incoterm for the situation when carriage and insurance are paid to a specified destination, while risk passes to the buyer when the goods are handed to the carrier is CIP, or "carriage and insurance paid."

Question 14

The Incoterm for the situation where the product is delivered at the specified destination,the seller pays for carriage to the named place and assumes all risk until goods are unloaded,is

Accepted Answer

The Incoterm for the situation where the product is delivered at the specified destination, the seller pays for carriage to the named place and assumes all risk until goods are unloaded, is DAP, or "delivered at place."

Question 15

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

Accepted Answer

Once the firm knows that a potential market exists, it needs to choose between exporting indirectly through U.S.-based exporters and exporting directly using its own staff. If it opts for indirect exporting as a way to test the market, a trade specialist, either from a consultancy or from one of the government programs, can provide assistance. If the firm sets up its own export operation, the next step is to find and establish overseas distribution.

Question 16

The Incoterm for the situation where the product is delivered at a specified terminal,the seller pays for transport and insurance to that terminal and retains the risk until the goods are loaded at that terminal,is

Accepted Answer

The Incoterm for the situation where the product is delivered at a specified terminal, the seller pays for transport and insurance to that terminal and retains the risk until the goods are loaded at that terminal, is DAT, or "delivered at terminal."

Question 17

Which of the following were not identified as being part of the export marketing plan?

Accepted Answer

The export marketing plan would not typically include information about employee compensation systems.

Question 18

Export marketing plans should be specific about all of the following except

Accepted Answer

The export marketing plan should be specific about the markets to be developed, the marketing strategy for serving them, and the tactics required to carry out the strategy.

Question 19

The Incoterm for the situation when the seller hands over goods to a carrier at a specified place,where risk then passes is to the buyer,is

Accepted Answer

The Incoterm for the situation when the seller hands over goods to a carrier at a specified place, where risk then passes to the buyer is FCA, or "free carrier."

Question 20

52.Incoterms are divided into two basic categories-

Accepted Answer

Incoterms are divided into 11 terms, which are classified into two categories: general terms and water transport terms. These categories are based on the method of transportation used in the shipment. The general terms are used for all modes of transportation, including water, air, and ground transportation, while the water transport terms are specifically designed for shipments made by water transport. Therefore, option B is the correct categorization of Incoterms. The other options (A, C, D, and E) do not accurately represent the categories of Incoterms.

Quiz 17: Appendix B: Export and Import Practices

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

The total number of Incoterms as of 2015 is

Incoterms are developed and maintained by

Ex-Works is a short way to say

The Incoterm for the situation when carriage is paid to a specified destination,the seller pays for carriage,while risk passes to the buyer when the goods are handed to the carrier is

Incoterms describe three issues that arise in a commercial transaction.Which of the following is not one of these issues?

Which of the following were not identified as being part of the export marketing plan?

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Which of the following were not identified as being part of the export marketing plan?

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook,which one of the following is not in the list?

Credit information can be available for new exporters through all of the following except

The Incoterm for the situation when carriage and insurance are paid to a specified destination,while risk passes to the buyer when the goods are handed to the carrier,is

The Incoterm for the situation where the product is delivered at the specified destination,the seller pays for carriage to the named place and assumes all risk until goods are unloaded,is

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

The Incoterm for the situation where the product is delivered at a specified terminal,the seller pays for transport and insurance to that terminal and retains the risk until the goods are loaded at that terminal,is

Which of the following were not identified as being part of the export marketing plan?

Export marketing plans should be specific about all of the following except

The Incoterm for the situation when the seller hands over goods to a carrier at a specified place,where risk then passes is to the buyer,is

52.Incoterms are divided into two basic categories-