Incoterms

1. Incoterms 2000 A. are internationally recognized commercial shipping terms B. are ocean navigational vectors derived from the Inca Empire of the Andes C. are federally-mandated insurance premiums and conditions on export transactions D. dictate the type of ink and formatting used in international shipping contracts 2. Incoterms 2000 were written A. under the United Nations Convention for the International Sale of Goods (Vienna Convention) B. by the International Chamber of Commerce C. under the Kyoto Protocols as adopted in 2000 D. under “fast track” authority granted by the U.S. Congress 3. Incoterms 2000 apply A. to all international shipments of goods B. to International shipments beyond a certain tonnage C. to international shipments under the Uniform Commercial Code D. only if clearly incorporated into the contract of sale 4. To apply to the transaction, Incoterms 2000 must be incorporated into A. contract of carriage B. negotiable bill of lading C. sales contract D. the Shippers Export Declaration or AES form 5. Incoterms 2000 address A. Ownership rights B. Breaches of contract C. The risks of loss between the parties D. Type of ship used 6. Incoterms 2000 A. Can only be used for international purchases B. Can only be used for purchases within the same country C. Can only be used for purchases across the ocean D. Can be used for both domestic and international purchases 7. In filling out the Shipper’s Export Declaration, a routed transaction refers to what type of transaction? A. EXW B. CIF C. DEQ D. FCA 8. How many terms are in Incoterms 2000? A. 5 B. 13 C. 2,000 D. the number is limited only by the parties’ cargo needs 9. If the Seller wants to minimize its costs/risks, what series of Incoterms 2000 will the Seller use? A. “E” series B. “F” series C. “C” series D. “D” series 10. Under which series of Incoterms 2000 is the Seller’s cost/risk the greatest? A. “E” series B. “F” series C. “C” series D. “D” series

EXW. Which modes of transport are proper for goods shipped "DDP"? A. FCA. Both D. which party is responsible for the freight charges? A. All of the above . FOB. FOB factory C." or "Delivered Ex Quay. Ship D. a U. When goods are shipped "DDP”. FCA. First On Board B. Buyer B. CPT. EXW B. FCA C. Free On Boat C. Neither 17. Both D.S. Crane D. Seller C. and DDP D." what is a quay? A. FAS. Air D. Truck/Rail B. Which Incoterms can be used to transfer title to goods at the port of export A. "FOB" is only appropriate when goods are shipped via A. CPT. and CIP C. Free On Board D. EXW.11. Which terms are limited to shipments via maritime or inland waterway? A. FAS. EXW D. who is responsible for Customs clearance? A. "FOB" stands for A. FCA B. Buyer B. Vessel C. First Off Barge 18. Provided certain additional requirements are met. DDP 20. Dock B. FOB D. Seller C. FCA. FCA. EXW. DDU. Air 15. and FAS B. and DES 13. Ship C. When goods are shipped "CIF". FAS. Neither 14. and FOB D. and CIF 12. Inter-modal transport 19. In "DEQ. and FOB B. Rail C. DAF. EXW.S. The following Incoterms 2000 are allowed regardless of the mode of transportation A. None of the above 16. Truck B. exporter can transfer responsibility for U. and CIP C. export clearance to a foreign purchaser by using A.

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