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 Shippers 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 Sellers cost/risk the greatest? A. E series B. F series C. C series D. D series

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