Terms of Trade or Incoterms Rules

Terms of Trade or Incoterms Rules

University

20 Qs

quiz-placeholder

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Terms of Trade or Incoterms Rules

Terms of Trade or Incoterms Rules

Assessment

Quiz

Other

University

Hard

Created by

Luesena Carroll

Used 81+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Among the following, the most customer-friendly Incoterms® Rule is
FCA.
CIP.
DAP
FOB

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A set of standardized Terms of Trade was created in _____ by the International Chamber of Commerce.
1930
1953
1936
1967

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most recent Incoterms® rules were revised in _____.
2010
2015
2000
2005

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

ICC Intercoms® rules are only used for international trade terms. 
True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A major consideration when selecting the correct Incoterms® rule is that sellers and buyers should not use terms that imposes risks and obligations beyond their control.
True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the Ex-Works agreement it is the responsibility of the buyer to load the vehicle.
True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the Free Carrier Incoterms® Rule, the importer is responsible for clearing the merchandise for export.
True
False

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