Export-Import Management
Chapter Exam Questions
Course Introduction
Export-Import Management explores the fundamental principles and practices involved in the international movement of goods and services. The course covers key topics such as export and import procedures, documentation, international contracts, trade regulations, logistics, risk management, foreign exchange transactions, and the role of intermediaries. Students learn how to evaluate market entry strategies, comply with global trade laws, utilize Incoterms, and develop negotiation skills essential for managing cross-border transactions. The course aims to equip aspiring professionals with the practical knowledge required to optimize export-import operations and navigate the complexities of the global trading environment.
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International Business Competing in the Global Market Place 9th editon by Charles W. L. Hill
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Chapter 1: Globalization
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Q1) A study published in 2011 by the OECD noted that:
A) the real household income of the unskilled workers in the U.S.increased more in comparison to that of the skilled workers.
B) in almost all countries real income levels declined over the 20-year period studied.
C) falling unemployment rates brought gains to low-wage workers and fairly broad-based wage growth.
D) the gap between the poorest and richest segments of society in some OECD countries had widened.
Answer: D
Q2) Low-cost global communications networks such as the World Wide Web are helping to create electronic global marketplaces.
A)True
B)False
Answer: True
Q3) The World Bank is known as the lender of the last resort.
A)True
B)False
Answer: False
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Chapter 2: National Differences in Political Economy
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Q1) In several Western democracies,the poor performance of state-owned enterprises,because of protection from competition and guaranteed government financial support,led to ________.
A) privatization
B) nationalization
C) liberalization
D) socialization of production
Answer: A
Q2) Safety standards to which a product must adhere are set by:
A) safety certifications.
B) contract laws.
C) product safety laws.
D) product liability laws.
Answer: C
Q3) Which of the following statements about individualism is NOT true?
A) Individualism promotes private entrepreneurship.
B) Individualism promotes free market economics.
C) Individualism creates an anti-business environment.
D) Individualism advocates for a democratic political system.
Answer: C
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Chapter 3: Political Economy and Economic Development
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Q1) Democracy is one of the consequences of economic growth and progress.
A)True
B)False
Answer: True
Q2) What are the factors that determine the costs of doing business in a country?
Answer: A number of political,economic,and legal factors determine the costs of doing business in a country.With regard to political factors,a company may have to pay off politically powerful entities in a country before the government allows it to do business there.With regard to economic factors,one of the most important variables is the sophistication of a country's economy.As for legal factors,it can be more costly to do business in a country where local laws and regulations set strict standards with regard to product safety,safety in the workplace,environmental pollution,and the like (since adhering to such regulations is costly).
Q3) Countries with free market economies in which property rights are protected tend to achieve lower economic growth rates than command economies where property rights are poorly protected.
A)True
B)False
Answer: False
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Chapter 4: Differences in Culture
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Q1) The emphasis on individualism in the United States results in all of the following disadvantages EXCEPT:
A) managers tend to develop good general skills but lack the company-specific experience.
B) difficulty in building teams within an organization to perform collective tasks.
C) executives are not exposed to different ways of doing business.
D) difficulty to achieve cooperation both within a company and between companies.
Q2) Which of the following is NOT true regarding culture?
A) Culture is static.
B) Culture varies across and within nations.
C) Culture is a system of values and norms that are shared among a group of people.
D) Culture involves the knowledge and beliefs of people.
Q3) Discuss the relationship between culture and national competitive advantage?
Q4) Norms are abstract ideas about what a group believes to be good,right,and desirable.
A)True
B)False
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Chapter 5: Ethics in International Business
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Q1) What is a code of ethics?
Q2) Discuss the notion of social responsibility.What does it mean for corporations?
Q3) What is considered normal practice in one country may be considered unethical in others.Discuss.
Q4) What are business ethics? What is the relationship between business ethics and an ethical strategy?
Q5) Most moral philosophers see value in utilitarian and Kantian approaches to business ethics.
A)True
B)False
Q6) Corporations can contribute to the global tragedy of the commons by not pumping pollutants into the atmosphere or dumping them in oceans or rivers.
A)True
B)False
Q7) Rights theories recognize that human rights and privileges are culturally determined and vary from country to country.
A)True
B)False
Q8) Why do organizations appoint an ethics officer?
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Chapter 6: International Trade Theory
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Q1) A country's balance-of-payments accounts keep track of the _____.
A) basic factor endowments and advanced factor endowments that the nation possesses
B) payments to and receipts from other countries for a particular time period
C) income taxes paid by domestic firms and the spending on the firms
D) total value of taxes paid by domestic firms and the spending on the firms
Q2) Mercantilism supports the idea that countries should export more than what they import.
A)True
B)False
Q3) Explain the concept of free trade.
Q4) Identify the theory that argues that advanced nations have an incentive to develop a new offering and hence such nations always tend to create a good or service for the first time.
A) Absolute advantage
B) Ricardo
C) Product life-cycle
D) Heckscher-Ohlin
Q5) What are factor endowments?
Q6) What are the four attributes that are discussed in Porter's diamond?
Page 8
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Chapter 7: The Political Economy of International Trade
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Q1) Antidumping policies vary drastically from country to country.
A)True
B)False
Q2) The World Trade Organization was created as part of the Uruguay Round.
A)True
B)False
Q3) The TRIPS regulations oblige WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years.
A)True
B)False
Q4) Local content regulations:
A) protect domestic producers by limiting foreign competition.
B) lower the prices of imported components.
C) tend to benefit consumers and not producers.
D) encourage outsourcing of production units.
Q5) Human rights activists see WTO rules as outlawing the ability of nations to stop imports from countries where child labor is used or working conditions are hazardous.
A)True
B)False
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Chapter 8: Foreign Direct Investment
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Q1) Discuss the benefits and costs of FDI from the perspective of a host country and from the perspective of the home country.
Q2) The majority of cross-border investment in the developed world is in the form of greenfield investments rather than mergers and acquisitions.
A)True
B)False
Q3) The pragmatic nationalist view highlights only the benefits of FDI.
A)True
B)False
Q4) Describe the situations when licensing is not a good option for a firm.
Q5) FDI has been declining in the last few decades because protectionist pressures have become less intense.
A)True
B)False
Q6) Host country citizens that are employed by an MNE following an FDI are an example of an indirect effect of FDI.
A)True
B)False
Q7) Discuss the pragmatic nationalist view toward FDI.
Page 10
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Chapter 9: Regional Economic Integration
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Q1) To exploit the opportunities presented by the EU,non-EU firms must establish EU subsidiaries.
A)True
B)False
Q2) Discuss the Free Trade Area of the Americas.What is hindering its progress? What is the position of the U.S.on the agreement? How does Brazil feel about the FTAA?
Q3) A central reason for the establishment of the EU was the devastation of Western Europe during two world wars and the desire for a lasting peace.
A)True
B)False
Q4) Great Britain,Sweden,and France have led the push toward adopting the euro.
A)True
B)False
Q5) Linking neighboring countries economically and making them interdependent creates incentives to increase political cooperation as well.
A)True
B)False
Q6) Discuss the trend toward increased regional economic integration.
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Chapter 10: The Foreign Exchange Market
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Q1) If the demand for dollars outstrips its supply and if the supply of Japanese yen is greater than the demand for it,what will happen?
A) The dollar will appreciate against the yen
B) The dollar will depreciate against the yen
C) The exchange rates will remain the same
D) The yen will appreciate against the dollar
Q2) Inflation occurs when output increases faster than the money supply.
A)True
B)False
Q3) The rate at which one currency is converted into another is known as the fluctuation rate.
A)True
B)False
Q4) Which of the following is the most important foreign exchange trading center?
A) London
B) New York
C) Tokyo
D) Singapore
Q5) Describe translation exposure.How can translation exposure be minimized?
Page 12
Q6) What is countertrade? Why would a firm engage in countertrade?
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Chapter 11: The International Monetary System
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Q1) Increasingly the _____ has been acting as macroeconomic police of the world economy,insisting that countries seeking significant borrowings adopt certain macroeconomic policies.
A) ECOSOC
B) IMF
C) UN
D) World Bank
Q2) The amount of a currency needed to purchase one ounce of gold was referred to as the gold par value under the gold standard.
A)True
B)False
Q3) What is gold standard? What was the major advantage of the system?
Q4) World Bank offers low-interest loans to risky customers whose credit rating is often poor.
A)True B)False
Q5) A currency crisis occurs when investors lose confidence in a country's banking system.
A)True
B)False
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Chapter 12: The Global Capital Market
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Q1) What is systematic risk?
Q2) Investors who purchase a fixed-rate bond receive cash payoffs only at maturity. A)True
B)False
Q3) Which of the following is a disadvantage of global capital market?
A) Foreign investments may be driven by speculative flows in the market.
B) A truly global market reduces the liquidity of investments.
C) The availability of capital is low in a global capital market.
D) The cost of capital is more in a global market than a domestic market.
Q4) Government limitations are more severe for securities denominated in foreign currencies than for domestic securities.
A)True B)False
Q5) The liquidity of the market is limited in a purely domestic capital market.
A)True
B)False
Q6) Explain how equity loans and debt loans differ in terms of attractiveness to businesses.
Q7) Explain Eurobonds with an example.
Page 14
Q8) How does the growth in the global capital markets affect investing firms?
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Chapter 13: The Strategy of International Business
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Q1) Explain the concept of location economies.
Q2) The efficiency frontier has a convex shape because of:
A) consumer surplus.
B) diminishing returns.
C) profitability.
D) differentiation strategy.
Q3) Which of the following is an example of a support activity in a firm's value chain?
A) R&D
B) Customer service
C) Human resources
D) Marketing and sales
Q4) The distinguishing feature of many firms that pursue an international strategy is that they are selling a product that serves local needs,but they do not face significant competitors.
A)True
B)False
Q5) What are the four basic strategies that firms use to compete in international markets?
Q6) Discuss the creation of a global web of value creation activities.
Page 15
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Chapter 14: The Organization of International Business
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Q1) The need for coordination between subunits is highest in firms pursuing a(n):
A) localization strategy.
B) international strategy.
C) global strategy.
D) transnational strategy.
Q2) Discuss the sources of inertia in organizations.Is it easy to make organizational changes?
Q3) A firm that operates with matrix-type structures in which both product divisions and geographic areas have significant influence would use which of the following strategies?
A) International strategy
B) Transnational strategy
C) Global strategy
D) Localization strategy
Q4) The manner in which decisions are made and work is performed within the organization is known as the firm's:
A) organizational culture.
B) incentives.
C) control systems.
D) processes.
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Chapter 15: Entry Strategy and Strategic Alliances
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Q1) Educating customers is a part of pioneering costs.
A)True
B)False
Q2) The most typical joint venture is a _____ venture.
A) 50/50
B) 60/40
C) 75/25
D) 10/90
Q3) First-mover advantages are the advantages associated with entering a market early.
A)True
B)False
Q4) In _____,the contractor agrees to handle every detail of the project for a foreign client,including the training of operating personnel.
A) exporting
B) licensing
C) franchising
D) turnkey projects
Q5) Why do acquisitions fail?
Q6) Discuss the advantages of using a joint venture to enter foreign markets.
Page 17
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Chapter 16: Exporting, Importing, and Countertrade
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Q1) A(n)_____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract.
A) buyback
B) barter
C) offset
D) switch trade
Q2) A _____ is simply an order written by an exporter instructing an importer,or an importer's agent,to pay a specified amount of money at a specified time.
A) letter of credit
B) bill of lading
C) draft
D) banker's letter
Q3) A _____ allows for a delay in payment.
A) bill of lading
B) time draft
C) sight draft
D) letter of credit
Q4) Explain the problem of trust that persists in international business.
Q5) Explain countertrade and its purpose.
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Chapter 17: Global Production, Outsourcing, and Logistics
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Q1) Firms would prefer buying component parts,or an entire product,from independent suppliers to protect proprietary product technologies.
A)True
B)False
Q2) Explain how the concept of production efficiency has changed with the rise of flexible manufacturing technologies.
Q3) The argument for centralizing production will be greater if the minimum efficient scale of a plant relative to total global demand is low.
A)True
B)False
Q4) How do product factors affect the decision of where to locate production? Where will you locate your firm's production plant if your firm produces refined sugar?
Q5) Make-or-buy decisions are decisions that concern the components to be used in a production process.
A)True
B)False
Q6) Describe the major arguments put forth by Edward Deming.
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Chapter 18: Global Marketing and RD
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Q1) The way a product is delivered is determined by:
A) the firm's entry strategy.
B) the firm's product positioning.
C) the target market.
D) the market segments.
Q2) Research has long maintained that a major factor of success for new products is the closeness of the relationship between:
A) finance and marketing.
B) marketing and R&D.
C) finance and materials management.
D) finance and R&D.
Q3) To design the product so that it can be manufactured in a cost-effective manner,the firm needs to build close links between R&D,marketing,and manufacturing.
A)True
B)False
Q4) The structure of market segments may differ significantly from country to country.
A)True
B)False
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Chapter 19: Global Human Resource Management
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Q1) An executive who performs well in a domestic setting may not be able to adapt to managing in a different cultural setting.
A)True
B)False
Q2) An ethnocentric approach is compatible with both global standardization and transnational strategies.
A)True
B)False
Q3) A firm using a polycentric staffing policy:
A) is less likely to suffer from cultural myopia.
B) seeks the best people for key jobs throughout the organization,regardless of nationality.
C) will most likely follow an ethnocentric strategy.
D) is likely to have improved communication between host-country managers and parent-country managers.
Q4) English is considered the language of world business.
A)True
B)False
Q5) What are the three types of training for expatriate managers?
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Chapter 20: Accounting and Finance in the International Business
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Q1) Money management decisions attempt to manage the firm's working capital most efficiently.
A)True
B)False
Q2) Banks are the most important source of external capital for business enterprises in the United States.
A)True
B)False
Q3) The _____ writes the generally accepted accounting principles (GAAP)that govern the financial statements of U.S.firms.
A) US Securities and Exchange Commission
B) Office of Economic Analysis
C) International Accounting Standards Board
D) Financial Accounting Standards Board
Q4) The International Accounting Standards Board _____.
A) can issue a new accounting standard if majority of the board members agree B) was formed to replace the Financial Accounting Standards Board
C) proposes standards but has no power to enforce the standards
D) was formed to supervise the accounting practices that U.S.firms follow
Q5) Explain the concept of transfer pricing.
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