Final 1/67 Part-time

Which of the following best describes an Export License?

• A document that authorizes the shipment of goods out of the country

• A permit required for domestic trade only

• A certificate proving a company’s legal registration

• A receipt for goods received by a buyer

Which term describes the total cost of goods, insurance, and freight to a destination port?

• FOB

• CIF

• DDP

• EXW

What is the main purpose of a Proforma Invoice?

• To provide a preliminary cost estimate before shipment

• To serve as a legal contract for international trade

• To act as a receipt after payment is made

• To ensure customs clearance is completed

What is the role of a Freight Forwarder?

• To provide financial support for importers

• To manage international shipping logistics

• To set import/export tax rates

Which term refers to a government-imposed tax on imports and exports?

• Quotation

• Trade Agreement

• Tariff

• Proforma Invoice

Which payment method allows buyers to pay after receiving goods?

• Advance Payment

• Open Account

• Cash Against Document (CAD)

• Letter of Credit

Which of the following is NOT an essential step in the import/export process?

• Market research

• Product design

• Customs clearance

• Documentation preparation

8.  Which document provides a detailed cost breakdown for an international transaction before shipment?

• Quotation

• Proforma Invoice

• Bill of Lading

• Packing List

How does an efficient import/export system benefit businesses?

• By increasing delivery time

• By reducing logistics costs

• By limiting market expansion

• By preventing global trade

 Which document is required for customs clearance when importing goods?

• Bill of Lading

• Packing List

• Customs Declaration

• Air Waybill