Export-Import Management Exam Preparation Guide
Course Introduction
Export-Import Management explores the key concepts, strategies, and procedures involved in international trade operations. The course examines documentation requirements, payment methods, shipping logistics, customs regulations, risk management, and legal frameworks governing cross-border transactions. Students gain practical insights into export and import financing, market entry strategies, product adaptation, and international marketing. By analyzing case studies and real-world scenarios, learners develop the critical skills needed to effectively manage export-import processes and understand the challenges and opportunities of the global trade environment.
Recommended Textbook
International Business The New Realities 4th Edition by S. Tamer Cavusgil
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17 Chapters
1641 Verified Questions
1641 Flashcards
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Page 2
Chapter 1: Introduction: What Is International Business
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Bethany presents another opportunity that involves the purchase of a manufacturing plant in South Korea. She explains that this type of strategy will involve ________ ownership on the part of the firm.
A)indirect
B)passive
C)short-term
D)active
Answer: D
Q2) Although services trade is growing rapidly, the value of merchandise trade is still much larger.
A)True
B)False
Answer: True
Q3) The world's largest MNEs are concentrated in emerging economies.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Globalization of Markets and the
Internationalization of the Firm
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98 Flashcards
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Sample Questions
Q1) The initial phase of globalization was triggered by the introduction of the railroads and ocean transport.
A)True
B)False
Answer: True
Q2) Which of the following is characteristic of globalization of markets?
A)lack of skilled labor
B)conservatism
C)declining trade barriers
D)diminishing gap between the rich and the poor
Answer: C
Q3) The first phase of globalization was characterized by the ________.
A)rise of steel production
B)rise of SMEs
C)dominance of MNEs in the agricultural industry
D)growth of railroads
Answer: D
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Page 4
Chapter 3: The Cultural Environment of International Business
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101 Flashcards
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Sample Questions
Q1) In cross-border business, successful managers ________.
A)adhere to a self-reference criterion
B)are empathetic to cultural differences
C)overly emphasize the importance of business jargons in facilitating effective cross-cultural communication
D)ritually avoid analyzing awkward situations in cross-cultural encounters
Answer: B
Q2) ________ are letters, figures, colors, or other characters that communicate a meaning.
A)Rituals
B)Symbols
C)Norms
D)Customs
Answer: B
Q3) Cultural intelligence focuses on specific capabilities important for high-quality personal relationships and effectiveness in culturally diverse settings and work groups.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Ethics, Corporate Social Responsibility,
Sustainability and Corporate Governance
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93 Flashcards
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Sample Questions
Q1) Relying on one's instincts is often the best way to identify an ethical problem.
A)True
B)False
Q2) Scholars examining ethics from the perspective of relativism hold that ethical truths are absolute.
A)True
B)False
Q3) Economic interests refer to a firm's economic impact on ________.
A)the localities where it does business
B)the top management of the firm
C)the middle management of the firm
D)the society as a whole
Q4) What is a code of ethics? What function does it serve for businesses?
Q5) According to the virtue approach ________.
A)the best action emphasizes the welfare of the entire community or nation
B)the best action emphasizes moral excellence and righteousness that provide for the full development of our humanity
C)the best ethical action is the one that provides the most good or the least harm
D)the best action protects and respects the moral rights of everyone involved
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Chapter 5: Theories of International Trade and Investment
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following was the analysis revealed by the "Leontief paradox"?
A)that despite having an abundant pool of labor, the U.S. was exporting capital-intensive goods
B)that the U.S. often exported labor-intensive goods and imported more capital-intensive goods
C)that international trade was simpler than perceived
D)that contrary to the popular belief, new products are more likely to originate in developing economies
Q2) In a short essay, discuss the internalization theory. Provide examples.
Q3) Which of the following is a typical outcome of free trade?
A)Unrestricted international trade generally increases the overall prosperity of poor countries.
B)Free trade sustains inflation in developing economies.
C)Domestically produced products tend to be cheaper than imported products.
D)Lower-cost imports cause living standards to deteriorate.
Q4) Countries cannot create or acquire comparative advantage.
A)True
B)False
Q5) Explain the limitations of early trade theories. Discuss born global firms.
Q6) Distinguish between comparative and competitive advantages. Provide examples.
Page 7
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Chapter 6: Political and Legal Systems in National Environments
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Sample Questions
Q1) Which of the following countries is considered primarily socialist?
A)Germany
B)Canada
C)India
D)Libya
Q2) Common law is also known as code law.
A)True
B)False
Q3) Which of the following supports Country A over Country B?
A)contractual noncompliance provisions are broader in scope
B)contracts are so detailed that they are expensive to draft
C)higher flexibility compared to other legal systems
D)judges confer with legislators on international business issues
Q4) Religion-based totalitarian states are called ________.
A)theocratic
B)secular
C)socialistic
D)atheistic
Page 8
Q5) Explain command economies. Provide examples of nations that exhibit characteristics of command economies and why command economies are no longer common today.
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Page 9
Chapter 7: Government Intervention and Regional Economic Integration
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Which of the following most supports abolishing the cotton quota over maintaining it?
A)The cotton growers have a competitive edge over foreign cotton growers, and they are profitable.
B)The fabric manufacturer, a prime contributor to the nation's annual revenue, can earn better returns by shifting to another country that does not impose cotton quotas.
C)A competing fabric manufacturer is considering opening a production facility in Zanzi.
D)The price of cotton fabric has remain unchanged over the last decade.
Q2) Which of the following statements is true about protection of an infant industry?
A)Governments can impose temporary trade barriers on foreign imports to ensure that young firms gain a large share of the domestic market.
B)Such protection is easy to remove.
C)Protected companies become more efficient and produce products with lower prices.
D)Protecting infant industries rarely allows countries to develop a modern industrial sector.
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Chapter 8: Understanding Emerging Markets
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Sample Questions
Q1) Family conglomerates (FCs)might pose a challenge to firms trying to enter emerging markets because ________.
A)FCs have no more knowledge in manufacturing and distribution than other private players
B)FCs are not required to pay taxes
C)the owners of FCs are often overly sympathetic to the bureaucratic state machinery
D)FCs enjoy substantial competitive advantages that overwhelm late entrants
Q2) Developing economies are countries that have achieved substantial industrialization, modernization, and rapid economic growth since the 1980s.
A)True
B)False
Q3) Which of the following should be considered by the consulting firm before recommending that Vytel should do business in Argentina?
A)What other emerging markets are dominated by family conglomerates?
B)What has been the historical economic effect of family conglomerates in Argentina?
C)Do family conglomerates control the telecommunications industry in Argentina?
D)What benefits and loans are received by family conglomerates in Argentina?
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Chapter 9: The International Monetary and Financial Environment
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Sample Questions
Q1) The French franc is one of the European currencies which was taken out of circulation and replaced by the euro.
A)True
B)False
Q2) Explain the duties of central banks. How do central banks, such as the Federal Reserve, implement national monetary policies?
Q3) Investment banks underwrite (guarantee the sale of)stock and bond issues and advise on mergers.
A)True
B)False
Q4) The official price of gold is used to determine the value of all major currencies in the exchange rate system used for international trade today.
A)True
B)False
Q5) Explain how a nation's economic growth is measured and what stimulates economic growth. What is the central bank, and how does it affect economic growth?
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Chapter 10: Financial Management and Accounting in the Global Firm
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Which of the following would most likely minimize the currency risk of EZ Lawn?
A)Concentrate all of the EZ Lawn outsourcing to one or two neighboring nations.
B)Re-locate a team of EZ Lawn managers overseas to stay abreast of currency changes.
C)List EZ Lawn stock on foreign stock exchanges to offset any currency losses.
D)Assign an EZ Lawn manager the task of monitoring currency fluctuations.
Q2) Intra-corporate fund transfers enable MNEs to access cash from subsidiaries through royalty payments, transfer pricing, and multilateral netting.
A)True
B)False
Q3) Current rate method is the translation of foreign currency balance sheet and income statements at an exchange rate that varies with the underlying method of valuation.
A)True
B)False
Q4) In passive hedging, the firm frequently reviews total exposure and hedges only a subset of its total exposures, usually those that pose the greatest risk.
A)True
B)False
Page 13
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Chapter 11: Strategy and Organization in the International Firm
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) International division managers usually oversee ________.
A)large-scale investments
B)product development
C)distributor relationships
D)corporate accounting
Q2) Which of the following best supports the decision by the Ace board of directors to hire Tanya as the CEO?
A)Tanya's recognition of the homogeneity across communities.
B)Tanya's innovative ideas and ability to spot future retail trends.
C)Tanya's subjective moral and ethical standards.
D)Tanya's competitive personality and dogmatic determination.
Q3) Which of the following organizational arrangements for foreign operations is most closely associated with home replication strategy?
A)export department
B)international division
C)geographic area structure
D)product structure
Q4) Discuss the factors relevant to a firm's decision to centralize or decentralize foreign operations.
Chapter 12: Global Market Opportunity Assessment
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Sample Questions
Q1) Exporting, FDI, and sourcing all have identical screening criteria.
A)True
B)False
Q2) When assessing the firm's readiness to internationalize, managers peer into their organization to determine the degree to which it has the resources necessary to successfully engage in international business.
A)True
B)False
Q3) According to the indexing and ranking method for choosing the most promising target market, the researcher assigns scores to countries based on their overall market attractiveness.
A)True
B)False
Q4) A SWOT analysis is used to estimate company sales potential for each target market.
A)True
B)False
Q5) Born-global companies seldom venture into countries outside their comfort zone.
A)True
B)False
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Chapter 13: Exporting and Global Sourcing
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Sample Questions
Q1) Trade fairs are not only excellent sites to meet potential intermediaries, they also provide the means to become familiar with key players in the local industry and to generally learn about the target market.
A)True
B)False
Q2) The Internet facilitates international trade in the service sector by ________.
A)providing the means to export some types of services to foreign markets
B)providing the means to avoid taxes in the foreign market
C)allowing firms to attain maximum control by establishing ownership of key assets
D)eliminating the need to deal with foreign currency exchange rates
Q3) Which of the following questions must be evaluated by OTC managers as a first step to exporting?
A)What are the risks involved in exporting OTC towels to Earth Waves?
B)Do Canadian towel companies have a high success rate when they export?
C)Will OTC save money on domestic marketing by exporting?
D)How can OTC adapt its distribution strategy in Canada?
Q4) All business activities and processes lend themselves to global sourcing.
A)True
B)False
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Chapter 14: Foreign Direct Investment and Collaborative Ventures
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Which of the following represents a human resource factor that firms must consider when selecting an FDI location?
A)intellectual property protection
B)transparency and corruption
C)extent of bureaucracy and red tape
D)involvement of labor unions
Q2) In the context of attaining economies of scope, using individual managers in each European country is more efficient that using the same base of managers all over Europe.
A)True
B)False
Q3) Economies of scale are decreases in per-unit cost of production resulting from decreasing output.
A)True
B)False
Q4) Firms that engage in FDI avoid problematic trade barriers because the physical presence of a foreign firm earns it the same privileges as a local firm.
A)True
B)False
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Chapter 15: Licensing, Franchising, and Other Contractual Strategies
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Sample Questions
Q1) When a firm allows others to use an entire business system in exchange for compensation, the arrangement is known as ________.
A)industrial design rights
B)franchising
C)joint venture
D)equity venture
Q2) Which of the following most likely supports an ACC decision to not enter a licensing agreement with the Chinese firm?
A)ACC does not want to invest capital for FDI in the Chinese market.
B)ACC desires a low-risk, low-cost strategy to internationalize the Wonder Cat character.
C)The Chinese market restricts ownership of local operations by foreign firms.
D)ACC wants to maintain firm control of how the Wonder Cat character is used.
Q3) Leasing is especially beneficial to ________.
A)advanced economies
B)economies with high PPP
C)First World countries
D)developing economies
Q4) Describe the guidelines for protecting intellectual property.
Page 18
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Chapter 16: Marketing in the Global Firm
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Sample Questions
Q1) A reputed American automaker competes in the premium car market segment. It targets affluent buyers with refined tastes who would not mind paying several thousand dollars for a premium car. This is an example of positioning.
A)True
B)False
Q2) Promotional activities ________.
A)are intended to stabilize the demand for consumer goods in advanced economies
B)are short-term marketing activities intended to stimulate an initial purchase, immediate purchase, or increased purchases of the product
C)do not include coupons and demonstrations
D)are strategies designed to tap the market potential of products that have a short shelf life in emerging markets and developing economies
Q3) A firm that uses the Internet to provide detailed product information and the means for foreigners to buy offerings is using ________.
A)modular architecture
B)direct marketing
C)lengthy distribution channels
D)internal marketing
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19
Chapter 17: Human Resource Management in the Global Firm
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Sample Questions
Q1) Worldwide staffing with PCNs helps firms develop an integrated global enterprise.
A)True
B)False
Q2) All of the following are international labor trends EXCEPT ________.
A)increase in immigration
B)more mobile labor force
C)rapidly increasing union membership in most advanced economies
D)formation of global alliances by national labor unions
Q3) Avoiding country bias, nepotism, and other local practices and cultivating a global mindset are some of the significant challenges of the international staffing policy.
A)True
B)False
Q4) All of the following refer to key tasks of IHRM EXCEPT ________.
A)developing global managers
B)assessing job performance of expatriates
C)evaluating internal accounting practices and audits
D)handling labor disputes and strikes
Q5) Discuss the reasons why labor union membership has declined in recent years.
Page 20
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