Description : Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency
Last Answer : C. at the request of the exporter
Description : Which of the following is not necessarily a party to a forfaiting transaction? A. exporter B. importer C. broker D. bank E. forfaiter
Last Answer : C. broker
Description : Which of the following is not a basic objective of documentation in foreign trade? A. to assure that the exporter will receive the payment B. to assure that the importer will receive the goods C. to eliminate risk of noncompletion D. to reduce foreign exchange risk E. none of the above
Last Answer : E. none of the above
Description : A document that contains a precise description of the goods is known as a _____. A. weight list B. packing list C. commercial invoice D. certificate of origin E. consular invoice
Last Answer : C. commercial invoice
Description : If an exporter is doubtful about an issuing bank's ability to pay, he will expect a domestic bank to join the transaction in a _____ letter of credit. A. revolving B. irrevocable C. revocable D. unconfirmed E. confirmed
Last Answer : E. confirmed
Description : Which of the following is not true of a consular invoice? A. provides customs officials with all information B. facilitates easy customs clearance C. helps customs officials assess duties D. issued by the consulate of the exporting country E. it is not a title to the goods
Last Answer : D. issued by the consulate of the exporting country
Description : If a carrier is instructed to deliver goods to an importer, a _____ bill of lading is used. A.straight B. order C. documentary D. on-board E. clean
Last Answer : A.straight
Description : Which of the following may be required as additional documents in a letter of credit? A. commercial invoice B. insurance document C. consular invoice D. certificate of origin E. all of the above
Last Answer : E. all of the above
Description : Letter of Credit is issued by a. IMF b. WTO c. Importer’s Bank d. Exporters Bank
Last Answer : c. Importer’s Bank
Description : If a draft is accepted by a bank, it becomes a _____. A. valid draft B. demand draft C. usance draft D. banker's acceptance E. drawee's acceptance
Last Answer : D. banker's acceptance
Description : If a draft is made to bearer, payment should be made to _____. A. a bank B. drawer C. acceptor D. anyone who presents the draft E. all of the above
Last Answer : D. anyone who presents the draft
Description : Documentary drafts require various shipping documents such as ____. A. bills of lading B. insurance certificates C. commercial invoices D. A and B E. A, B, and C
Last Answer : E. A, B, and C
Description : Buying a company's accounts receivable on a nonrecourse basis is known as _____. A. switch trading B. financing C. factoring D. funding E. free trade
Last Answer : C. factoring
Description : In a _____ countertrade the initial seller receives compensation in products that arise out of the original sale. A. consignment B. barter C. counterpurchase D. buy-back agreement E. switch trading
Last Answer : D. buy-back agreement
Description : If a letter of credit can be neither cancelled nor modified without the consent of all parties, it is known as _____. A. revolving B. irrevocable C. revocable D. unconfirmed E. unclean
Last Answer : B. irrevocable
Description : A(n) _____ bill of lading does not guarantee that the goods have been loaded on the vessel. A. on-board B. foul C. received-for-shipment D. straight E. order
Last Answer : C. received-for-shipment
Description : Foreign exchange risk can be reduced by using _____. A. forward contracts B. futures contracts C. currency options D. currency denomination E. all of the above
Description : Letter of Credit is presented by– (A) Exporter (B) Importer (C) Custom Officer (D) Shipping Company
Last Answer : Answer: Importer
Description : Which statement about the US economy is wrong? (A) The US has a capitalist mixed economy. (B) The US national debt is the world's largest. (C) The US economy is shaped by the country's ... infrastructure, and high productivity. (D) The USA is the largest exporter and importer of goods in the world.
Last Answer : (D) The USA is the largest exporter and importer of goods in the world.
Description : When exporting some common pitfalls include: A. failure to use an export management company B. failure to print service, sales, and warranty messages in local languages C. chasing orders around the ... orderly growth D. failure to consider licensing or joint venture agreements E. all of the above
Description : The “three C’s” of international commerce are: A. customers B. commitment C. currency D. cultural sensitivity E. A, B, and D
Last Answer : C. currency
Description : Which of the following is not a form of countertrade? A. barter B. consignment C. switch trading D. counterpurchase E. compensation agreement
Last Answer : B. consignment
Description : Which of the following is not a form of offset agreements? A. coproduction B. licensed production C. subcontractor production D. cash in advance E. technology transfer
Last Answer : D. cash in advance
Description : Which of the following documents should necessarily accompany a draft? A. certificate of origin B. weight list C. packing list D. inspection certificate E. none of the above
Description : When IBM ships products to its subsidiary in Argentina, it will most likely use a ____ draft. A. sight B. clean C. D/P D. demand E. all of the above
Last Answer : B. clean
Description : Forms of countertrade include the following except ___. A. simple barter B. clearing arrangement C. switch trade D.counterpurchase E. mutual agreement
Last Answer : E. mutual agreement
Description : Which of the following is not a condition for drafts to be negotiable? A. must be in writing, signed by the drawer B. must contain a promise to pay a certain sum if goods are received C. must contain an ... D. must be payable on sight or at a specified date E. must be made out to order or bearer
Last Answer : B. must contain a promise to pay a certain sum if goods are received
Description : ______ risk is the potential exchange loss from outstanding obligations as a result of exchange-rate fluctuations. A. Trade B. Exchange C. Finance D. Noncompletion E. Transaction
Last Answer : E. Transaction
Description : Which of the following is not an important document in foreign trade? A. a check for the value of goods B. a draft C. bill of lading D. a letter of credit E. none of the above
Last Answer : A. a check for the value of goods
Description : The small scale unit wishing to export has to obtain exporters code number from _________. A. The Reserve Bank of India. B. The Central Bank of India. C. Any Regional Bank. D. Any International Bank.
Last Answer : A. The Reserve Bank of India.
Description : Loans granted by a bank to an exporter popularly known as „Export credit‟ is guaranteed, in case of default,by which of the following A. EXIM Bank B. Ministry of International Trade, GOA C. ECGC D. DICGC E. Other than those given as options
Last Answer : C. ECGC Explanation: ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.
Description : Which of the following is not necessarily a party to a forfaiting transaction? a. Exporter b. Broker c. Bank
Last Answer : b. Broker is not necessarily a party to a forfaiting transaction. Forfaiting is a financing technique used in international trade to mitigate the risk of non-payment by the importer. It involves ... be involved in facilitating the transaction, but it is not a necessary party to the transaction.
Description : Surplus stock of certificates should never be held in HOs and SOs and should be returned to the supplying office. An invoice in form NC-13 shall be prepared in _____ by the S.O. ... H.O a) Duplicate, triplicate b) Triplicate, duplicate c) Quadruplicate, triplicate) d) Triplicate, quadruplicate
Last Answer : d) Triplicate, quadruplicate
Description : In what ways has competition affected workers, Indian exporters and foreign MNCs in the garment industry? -SST 10th
Last Answer : . Large MNCs in the garment industry in Europe and America get their products from Indian exporters. . These large MNCs with worldwide network look for the cheapest goods in order to maximise ... to make large profits, workers are denied their fair share of benefits brought about by globalisation.
Description : Is the US the leading exporters?
Last Answer : it is imported.
Description : Service exporters that can export a bean as a remote service based on the :- a) RMI b) Hessian c) Burlap d) All of the mentioned
Last Answer : All of the mentioned
Description : Do you think Trump is trying to reduce the trade deficit by imposing taxes on importers and people who buy imported goods in the form of tariffs?
Last Answer : On the supply side; grain and produce numbers are DROPPING for USA farmers. So, no it is will not reduce deficit because we have reduce what is being sold to China and others impacted by tariffs.
Description : Recently I have taken interest in a company that manufacture and export Medical Disposables from India. How do I get in touch with importers overseas?
Last Answer : You should have thought about that before you bought into the company.
Description : Where can i find gourmet importers in the U.S?
Last Answer : The National Association for the Specialty Food Trade is the trade organization for most of the gourmet food industry. They organize the Fancy Food shows in New York and San Francisco, which ... of products like yours. Contacting them might be a good place to start looking for contacts.
Description : The Indian market has emerged as one of the largest importers of South East Asian goods.
Last Answer : A - The Indian market has emerged as one of the largest importers of South East Asian goods. ... correct but R is not the correct explanation of A.
Description : How to find fashion jewelry wholesale importers in the USA?
Last Answer : FashionTIY online wholesale market originated in the United States and later served all over the world due to its high quality and low price. The wholesale price of jewelry is as low as $0.26.
Description : Select the TRUE statement. A)Legislation regulating marketing in many foreign countries is being eased. B)A government's attitude toward cooperation with importers has little impact on ... competitive disadvantage. D)Bribes and payoffs are considered unethical in all countries and cultures
Last Answer : C)Refusing to give payoffs and bribes in some foreign countries may put the marketer at a competitive disadvantage.
Description : I need help confirming the identity of Andy Breckman?
Last Answer : I don’t know the answer but I LOVE Monk
Description : Arrange in proper order: (a) Drafting Minutes (b) Sending notice (c) Confirming quorum
Last Answer : Arrange in proper order: (a) Drafting Minutes (b) Sending notice (c) Confirming quorum
Description : Is the process of confirming the content of a medical record.?
Last Answer : What is the answer ?
Description : Which of the following is an example of confirming as it relates to listening skills?
Last Answer : Using short comments, gestures, or nonverbal cues to let the customers know you are interested to verify that you understand what they are thinking about
Description : If there is a discrepancy of less than Rs 10/- between the amount entered by the remitter and by the office of issue a) MO issue returned to the office of issue for necessary correction b) ... The amount written by the remitter is paid and irregularity reported to office of issue d) None of these
Last Answer : d) None of these
Description : The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the a. Methods of statistical sampling to be used ... for the auditor's opinion. d. Schedules and analyses to be prepared by the client's staf
Last Answer : Schedules and analyses to be prepared by the client's staf
Description : Ascoli's thermoprecipition test helps in confirming the laboratory diagnosis of A- tetanus B- anthrax C- typhoid D- cholera
Last Answer : anthrax
Description : A middle aged female presented with following symptoms - Hirsutism, fragility of skin, with easy bruising, broad purplish striae and signs of proximal myopathy. The first step in ... Exclude exogenous Glucocorticoid use 3) Advice plasma ACTH estimation 4) Advice dexamethasone overnight test
Last Answer : Correct Answer: 2) Exclude exogenous Glucocorticoid use