PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
⩥ What is the Roman legal system. Answer: long evolving system
used in the courts, which in its later stages formed the basis for
modern procedure in civil- law countries. There were three main
overlapping stages of development the legal actiones which dates
from the
⩥ Domestic water carrier. Answer: compete with railroads for the
movement of bulk commodities( such as grains, ores, coals, and
chemicals) and with the pipelines for the movement of bulk petroleum
petroleum products, and chemicals
⩥ Types of Carriers. Answer: Like motor carriers the first major
classification of the domestic water carrier industry is between for
hire and private carriers.
⩥ Regulated water carriers. Answer: are classified as either common
or contract carriers that operate over the inland navigable waterways
are classified as internal water carriers.
⩥ Internal water carriers. Answer: use barges and towboats
⩥ How many people lost their lives in 2006 due to transportation
related accidents?. Answer: 42,642 people were killed in the estimated
, 5, 973,000 police were reported motor vehicle traffic crashes
2,575,000 people were injured and 4,189,000 crashes involved
property damage only
⩥ Elasticity. Answer: percent in price and percent in quantity
⩥ Forces driving change in the economic landscape?. Answer:
scarcity of oil
⩥ What is third party logistics. Answer: the outsourcing of logistics
and supply chain functions, such as warehousing, transportation, and
order fulfillment, to a specialized external company
⩥ 3PL firm. Answer: Firm that manages and/or provides multiple
logistics services for use by customers
⩥ (1pl 2 pl 3 pl) Role of Outsourced Logistics Providers. Answer:
terminology related to the use and provision of logistics services.
⩥ What is freight management. Answer: the process of organizing,
planning, and overseeing the transportation of goods to ensure they
are delivered efficiently and cost-effectively.
⩥ What is customs brokerage?. Answer: the process of handling
customs formalities to clear goods for import or export, performed by
a licensed individual or firm called a customs broker.