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  • 1) What’s the correct reference to INCOTERMS in contracts?

    А) FOB Odessa

    B) Odessa FOB

    2. Is it possible to use the earlier versions of INCOTERMS?

    А) no, only 2010

    B) yes, any version is valid

    3) By EXW a seller is responsible for loading a cargo on a buyer’s transport.

    А) yes

    B) no

    4) FAS (Free Alongside Ship) and FOB (Free On Board) are rules for which kind of transport?
    A.
    B. Any kind of transport - sea, land or air
    C. Inland waterway and sea transport
    D. Rail transport only
    E. Air transport only

    5) What is the acronym of Letter of Credit?
    A.
    B. CC
    C. LOC
    D. L/C

    6) What is the Incoterm’s mode of delivery at the destination, with taxes paid?
    A.
    B. FOB
    C. DDP
    D. CPT

    7) What are the three Incoterms which are multimodal (can be used for all transportation methods) and are for "sale on arrival" (refers to sales where the seller undertakes to bear the costs and risks relating to international transport through to the agreed destination).

    A) DAT, DAP, DDT

    B) FAS, FOB, DDP

    C) CPT, CIF, DAT

    8) You are the seller. You are able to obtain an export licence and to arrange to clear the goods for export. You are not able to deliver the goods to the named place. (The buyer must collect the goods). What is the most suitable Incoterms for you?

    9. Choose the Incoterm that specifies only sea and ocean carriage when risk and responsibility shift from the seller to the buyer, when the goods are placed within the reach of the ship’s crane.

    A) FAS

    B) EXW

    C) CIF

    D) FOB

    E) FCA

    10. It has been agreed that the seller will pay for transport and will remain responsible for the goods until they arrive at the buyer’s depot. However the buyer will unload the goods from the truck and clear the goods for import, paying any necessary duty. Which Incoterms rule should be used?

    A. Delivered At Terminal (DAT)

    B. Delivered At Place (DAP)

    C. Delivered Duty Paid (DDP)

    11. What are Incoterms 2010? Select the appropriate answer from the following:

    a) The law relating the international carriage of goods;

    b) A set of internationally recognised contract terms that define buyer/sellers’ responsibilities when included in international contracts;

    c) A shorthand used by the freight industry for indicating whether the buyer or seller pays for freight costs during the shipment of goods;

    d) A set of contract terms indicating where the title to the goods passes in international shipments.

    12. What are the differences between the following terms?

    a) CIP and CIF

    b) FOB and CFR

    13. the exporter must package the goods for international voyage, provide the importer with the documents necessary to clear the goods for export in the exporting country, to clear customs in the importing country and deliver to the importer’s door
    A.
    B. responsibilities of the importer with FOB
    C. responsibilities of the exporter with EXW
    D. responsibilities of the importer with DDP
    D. responsibilities of the importer with DAT

    14. Free Alongside Ship → FAS

    A. True
    B. False

    15. must handle everything → RESPONSIBILITIES OF THE IMPORTER WITH CIF

    A. True
    B. False

    16. Carriage and Insurance Paid To → CIP

    A. True
    B. False

    17. INCOTERMS were set out by the:

    A. International Chamber of Commerce
    B. United Nations
    C. WTO
    D. AFTA

    18. INCOTERMS 2010 contain:

    A. 13 Rules, same as INCOTERMS 2010
    B. 11 Rules
    C. 15 Rules
    D. 2010 Rules

    19. In CIF contracts, the risk passes:
    A. When property passes
    B. On shipment
    C. When the documents are tendered to the buyer

    20. CFR stands for:

    A. Cost Free
    B. Cost, Freight and Risk
    C. Cost and Freight
    D. Carriage at Frontier

    21. You (buyer) want the exporter to deliver the goods insured to Tacoma Port, Washington U.S.A but you will accept all risks as soon as they are loaded on the ship.

    a) FOB
    b) CPT
    c) CIF
    d) DAT
    e) DAP

    22. Which group can be described as follows “The seller only makes the goods available to the buyer at the seller’s premises”

    a. E
    b. F
    c. C
    d. D

    23. Which group can be described as follows “The seller has to contract at his costs for carriage”

    a. E
    b. F
    c. C
    d. D

    24. Which group can be described as follows “The seller must assume most costs, obligations and risks needed to bring the goods to the place of destination”

    a. E
    b. F
    c. C
    d. D

    25. Which group can be described as follows “The seller delivers the goods to a carrier or place appointed by the buyer”

    a. E
    b. F
    c. C
    d. D