Incoterms are regulated by:
IIP301_Incoterms

Quiz
•
Social Studies
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University
•
Medium
Cao HN)
Used 63+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
U S Customs
International Chamber of Commerce
World Trade Organization
United Nations
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which Incoterm places the maximum obligation on the buyer and minimum obligations on the seller?
DDP
EXW
FOB
CIF
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The seller delivers goods, cleared for export, to the buyer-designated carrier at a named location. This is used for any mode of transport. The seller must load goods onto the buyer's carrier
CPT
DAP
FCA
FOB
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the vessel. Insurance for the goods is NOT included.
CIF
DAP
CPT
CFR
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are Incoterms 2010?
The law relating the international carriage of goods.
A set of internationally recognized contract terms that define buyer/seller's responsibilities when included in international contracts.
A shorthand used by the freight industry for indicating whether the buyer or seller pays for freight costs during the shipment of goods.
A set of contract terms indicating where the title to the goods passes in international shipments.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods that are taken in charge at Felixstowe, UK, for transport to Long Beach, California, under the rule "CIP Long Beach, CA, Incoterms 2010." The seller will arrange and pay for freight to Long Beach, but risk will pass to the buyer upon delivery of the goods to the carrier at Felixstowe, before the main carriage.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the correct Incoterm 2010 for the following: The seller pays for carriage to the terminal, except for costs related to import clearance, and assumes all the risks up to the point that the goods are unloaded at the terminal.
DAT
DAP
DDP
DPU
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