Terms of Sale and Documents in International Trade

Terms of Sale and Documents in International Trade

12th Grade

20 Qs

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Terms of Sale and Documents in International Trade

Terms of Sale and Documents in International Trade

Assessment

Quiz

Business

12th Grade

Easy

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an Indent?

A type of document used for shipping goods.

An order sent by the importer to the agent in a foreign country requesting goods.

A financial term related to interest rates.

A legal contract between two parties.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Free on board (F.O.B) mean?

The price includes all expenses incurred up to the point where the goods are in the ship ready for transport.

The price includes only the cost of the goods, excluding shipping and handling fees.

The price includes all expenses incurred until the goods reach the buyer's location.

The price includes insurance costs for the goods during transport.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Letter of credit?

A document allowing the importer to get goods on credit from the exporter, affirming the amount due will be paid.

A type of insurance policy for international shipments.

A financial statement required for loan applications.

A contract between two parties for the sale of goods.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Cost & freight (C&F)?

The price includes all loading and carriage expenses.

The price includes only the cost of goods.

The price includes insurance but not freight.

The price includes only unloading expenses.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does LOCO/ex-warehouse/ex-works mean?

The seller pays for the goods and incurs all expenses of moving goods to the buyer's destination.

The buyer pays for the goods as they are in the exporter’s warehouse and incurs all expenses of moving goods to his destination.

The buyer pays for the goods only after they reach their destination.

The seller is responsible for all costs until the goods are delivered to the buyer's warehouse.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Certificate of origin?

A document prepared by the exporter detailing the exported goods and their country of origin.

A certificate issued by the government to certify the quality of goods.

A document that lists all the suppliers of a product.

A receipt for the payment of customs duties.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Cost insurance and freight include?

All loading, carriage, and insurance expenses.

Only loading expenses.

Only insurance expenses.

Carriage expenses and taxes.

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