Export-Import Management Question Bank
Course Introduction
Export-Import Management provides students with a comprehensive understanding of the processes and practices involved in international trade. The course covers the regulatory framework, documentation, and procedures essential for efficient export and import operations, including trade policy, payment terms, shipping, insurance, customs clearance, and compliance with global standards. Through real-world case studies and practical assignments, students will learn how to identify international markets, manage risk, negotiate contracts, and formulate effective export-import strategies to enhance business competitiveness in the global marketplace.
Recommended Textbook
International Logistics Management of International Trade Operations 3rd Edition by David
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17 Chapters
907 Verified Questions
907 Flashcards
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) The total value of international trade (2008)in services and merchandise is about
A) $ 20 billion.
B) $ 20 trillion.
C) $ 20 million.
D) $ 20 thousand.
E) None of the above
Answer: B
Q2) The euro has replaced the currencies of all of the countries of the European Union.
A)True
B)False
Answer: False
Q3) In 2007,the United States imported about 1.5 times more goods than it exported.
A)True
B)False
Answer: True
Q4) In 1995,the World Trade Organization succeeded the ____________________ that had been created at the Bretton Woods Conference in 1944.
Answer: General Agreement on Tariffs and Trade (GATT)
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Page 3
Chapter 2: International Supply Chain Management
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Sample Questions
Q1) Logistics management encompasses ____________________ activities than does supply chain management.
Answer: fewer,less
Q2) The increased usage of air transport for international trade has had which consequence?
A) decreased shipping costs
B) increased insurance claims
C) increased probability of a company being selected as a supplier, by reducing delivery times
D) increased shipping delays
E) All of the above
Answer: C
Q3) The city of Curitiba,in Brazil,solved two problems at once; its recycling efforts have reduced pollution and landfill usage,while employing very-low-income residents.
A)True
B)False
Answer: True
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Chapter 3: International Logistics Infrastructure
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Sample Questions
Q1) Most of the easily accessible oil and gas fields are in the early part of their life expectancies.
A)True
B)False
Answer: False
Q2) As the size of ships has increased,ports have been challenged in keeping up with the ability to handle them.
A)True
B)False
Answer: True
Q3) In many countries,access to high-speed highways is limited to those who can pay a
Answer: toll
Q4) The most common problem with the utilities part of the national infrastructure is the availability of electricity.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Methods of Entry into Foreign Markets
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Sample Questions
Q1) A form of piggy-backing in which a successful exporter involves one of its suppliers-or a company that makes a complementary product-in the markets that the exporter has developed is sometimes referred to as ____________________ exporting.
Q2) Agents usually sell more than one product and represent more than one company.The products they sell are
A) complementary.
B) competitive.
C) owned by the agent.
D) inexpensive.
E) None of the above
Q3) Unique,powerful Japanese trading companies are called A) Nissans.
B) sogo shosha.
C) export trading companies.
D) exporters.
E) None of the above
Q4) Parallel imports are sometimes called gray market goods.
A)True
B)False
Page 6
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Chapter 5: International Contracts
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Sample Questions
Q1) The scope of appointment clause is usually the first clause of a contract.
A)True
B)False
Q2) Lex Mercatoria is
A) a major calamity like a storm or other natural disaster.
B) the Uniform Commercial Code.
C) common law.
D) trade law made up of a multitude of different sources of law and jurisprudence.
E) None of the above
Q3) Contracts normally contain a clause that annuls the contract in the event of an overwhelming unforeseen event like a major storm or fire.This is called an evergreen provision.
A)True
B)False
Q4) The European Union tends not to recognize exclusive territories that limit an agent or distributor to one country.
A)True
B)False
Q5) An arbitration panel is usually made up of ____________________ arbitrators.
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Chapter 6: Terms of Trade or Incoterms
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Sample Questions
Q1) As of the revision in 2000,the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is
A) Free Alongside Ship.
B) Ex-Works.
C) Cost and Freight.
D) Delivered Ex Quay.
E) None of the above
Q2) In a quote which includes multiple Incoterms,so that the customer can choose,the Incoterm that has the highest invoiced amount is
A) EXW.
B) FCA.
C) DDP.
D) CIP.
E) None of the above
Q3) Under the DES Incoterm,the exporter is responsible for the goods until they are placed at the disposal of the importer at the ____________________ of destination.
Q4) Under the CPT Incoterm,the bill of ____________________ can act as a proof of delivery from the carrier.
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Chapter 7: Terms of Payment
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Sample Questions
Q1) The responsibilities of the presenting bank in the importing country generally stop at notifying the importer that the documents have arrived and at requesting that the importer endorse the draft or at requesting payment before releasing the documents.This is called trade acceptance.
A)True
B)False
Q2) The greater the exposure,the more secure terms of payment should be.
A)True
B)False
Q3) A date draft transaction solves one of the problems of documentary collection in general: the date at which the importer will endorse the draft.
A)True
B)False
Q4) United States law prohibits bank guarantees.
A)True
B)False
Q5) In a cash-in-advance transaction,all risk is transferred to the
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Chapter 8: Currency of Payment (Managing Transaction
Risks)
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Sample Questions
Q1) Although there are many variables affecting the exchange rate of currencies,applications of fundamental forecasting using multiple regression and ANOVA readily overcome the problem of having all these variables.
A)True
B)False
Q2) The type of exchange rate for a foreign currency for immediate delivery (roughly the price of a foreign currency to be delivered within 48 hours)is called the forward rate.
A)True
B)False
Q3) An options market hedge is,in effect,an insurance policy against unfavorable exchange rate fluctuations.
A)True
B)False
Q4) The euro was first created as an artificial ____________________.
Q5) The Ex-Im Bank provides loans to small exporters.
A)True B)False
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Chapter 9: International Commercial Documents
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Sample Questions
Q1) An SED is
A) an Incoterm.
B) a proprietary commercial electronic data interchange.
C) a manifest.
D) a certificate of title.
E) None of the above
Q2) The main billing document in a shipment is the pro forma invoice.
A)True
B)False
Q3) Which of the following pieces of information does an international commercial invoice contain?
A) Incoterms
B) a precise description of the product
C) terms of payment
D) All of the above
E) None of the above
Q4) The United States requires a(n)____________________ Export Declaration.
Q5) A document sometimes requested by the importer that is signed by an independent third party attesting to authenticity and accuracy of a shipment is a Certificate of
11
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Chapter 10: International Insurance
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Sample Questions
Q1) A letter of credit usually requires
A) an open ocean cargo policy.
B) a special cargo policy.
C) a Certificate of Insurance.
D) All of the above
E) None of the above
Q2) Most piracy occurs near Northwest Asia.
A)True
B)False
Q3) Traditionally,shippers of higher-value cargo will ask that the cargo be carried "____________________ deck."
Q4) A typical container will be handled _____ times in each of the ports of departure and destination.
A) four to six
B) fifteen to twenty
C) fifty to sixty
D) two to three
E) one to two hundred
Q5) It is impossible to get insurance for ____________________ leakage.
Q6) Most cargo sent by air has ____________________ value.
Page 12
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Chapter 11: International Ocean Transportation
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Sample Questions
Q1) LNG and LPG ships
A) are obsolete.
B) cannot compete with container ships.
C) often operate on long-term contracts.
D) All of the above
E) None of the above
Q2) Countries with an open registry often provide
A) secondary registries.
B) flags of convenience.
C) more strict regulation of ships.
D) an opportunity for ship owners from developing countries to register their ships in the United States.
E) None of the above
Q3) The non-vessel-operating common carrier system was the basis for the model followed by ____________________ in the air passenger business.
Q4) The choice of flag has no effect on the safety and reliability of a ship and its crew.
A)True
B)False
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Page 13
Chapter 12: International Air Transportation
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Sample Questions
Q1) The biggest constraint on a shipper regarding the use of passenger airplanes for shipping freight is the issue of the freight's ____________________.
Q2) Even though countries may agree to "open-skies," the number of flights may be limited by the number of airport ____________________.
Q3) Certified Cargo Screening Facilities are charged with
A) randomly selecting about twenty percent of all air cargo, and inspect these shipments before they are loaded on any aircraft.
B) conducting background checks for all airlines and airport employees who are in contact with international cargo air shipments.
C) conducting one-hundred-percent inspections of all shipments that will eventually travel on passenger aircraft.
D) reporting on suspicious cargo shipments originating from abroad, through a program called "Automated Targeting System."
E) All of the above
Q4) The largest airfreight company in the world is ____________________.
Q5) All cargo shipped on passenger aircraft has to be inspected 100 percent by ____________________.
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Page 14
Chapter 13: International Land and Multi-Modal Transportation
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Sample Questions
Q1) The shipping container was developed in 1970 by Marshall McLuan.
A)True
B)False
Q2) A high cube container is _____ feet tall.
A) 16
B) 14
C) 12.5
D) 11
E) None of the above
Q3) The freight forwarding business is concentrated into a small number of very large companies.
A)True
B)False
Q4) Much trade at the United States-Mexico border is handled
A) by ocean.
B) DAF.
C) involving trucks not regulated by weight, length, and other equipment standards.
D) All of the above
E) None of the above
Page 15
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Chapter 14: Packaging for Export
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Sample Questions
Q1) When goods needing refrigeration travel by ocean,they usually travel in a refrigerated container,a specialized contained also nicknamed a
Q2) If goods in a container are not unitized,they are usually sufficiently protected by their regular secondary packaging.
A)True
B)False
Q3) The standardized size of pallets in Europe is
A) 80 centimeters by 120 centimeters.
B) 31.5 inches by 47.25 inches.
C) different from the measurements of most pallets in the United States.
D) All of the above
E) None of the above
Q4) To protect against condensation damage inside a container,the container's interior floor and,ideally,its interior sides should be made of ____________________.
Q5) Most in-transit thefts involve people who are ____________________.
Q6) Intermodal containers sometimes collapse in rough seas.
A)True
B)False
Page 16
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Chapter 15: International Logistics Security
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Sample Questions
Q1) In order to protect their fixed assets,companies should implement which of the following physical barriers?
A) build fences around the perimeter
B) lock all access doors
C) have enough outside lights
D) backup electric generators
E) All of the above
Q2) ____________________ is a strategy that attempts to eliminate all imports of a particular type of goods and all entries of a specific group of persons into a country.
Q3) Which U.S.agency is NOT involved with security enforcement?
A) Customs and Border Protection
B) Secret Service
C) Coast Guard
D) Immigration and Customs Enforcement
E) None of the above
Q4) The events of September 11,2001 did not have a major impact on the way international business is conducted.
A)True
B)False
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Chapter 16: Customs Clearance
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Sample Questions
Q1) Tariffs can be calculated
A) ad valorem.
B) as a fixed amount per unit imported.
C) in a mixed system of a fixed amount per unit imported plus a percentage of the value of the goods imported.
D) All of the above
E) None of the above
Q2) A quota that places a yearly limit on the number of items entering a country under a specific HS number is called a(n)____________________ quota.
Q3) In most countries,only certified Customs brokers or Customs agents are allowed to file the paperwork necessary to clear Customs.
A)True
B)False
Q4) The deductive method of valuation is when Customs determines at what price identical or similar goods are sold within 90 days of importation in the importing country,and determines an entry value based upon "normal" mark-ups in the distribution channel.
A)True
B)False
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Chapter 17: Using International Logistics for Strategic Advantage
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Q1) The main reason(s)for an exporter to consistently offer quotes in the importer's currency is that it makes it easier for the importer
A) to determine what its actual costs will be.
B) to avoid currency fluctuation risks.
C) to be able to use its own bank.
D) All of the above
E) None of the above
Q2) The exporter is responsible for providing good,clear documents in the correct number of originals and copies
A) in all cases.
B) only if the exporter is the exporter of record for Customs purposes.
C) only if the export is conducted in the exporter's currency.
D) only if the importer has requested a shipment under a C-type Incoterm (CIF, CIP, CFR, or CPT).
E) None of the above
Q3) The Voice of America broadcasts can be heard in the United States on AM and FM stations.
A)True
B)False
Page 19
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