Ed Imm INTB EXAM 5 QUESTIONS
WITH COMPLETE SOLUTIONS8
Sogo Shosha - ANSWERS-Japanese trading companies; a key part of the keiretsu, the large
Japanese industrial groups.
MITI - ANSWERS-Japan's Ministry of International Trade and Industry.
Export Management Company (EMC) - ANSWERS-Export specialist that acts as an export
marketing department for client firms.
Letter of Credit - ANSWERS-Issued by a bank, indicating that the bank will make payments under
specific circumstances.
Bill of Exchange - ANSWERS-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.
Draft - ANSWERS-An order written by an exporter telling an importer what and when to pay.
Sight Draft - ANSWERS-A draft payable on presentation to the drawee.
Time Draft - ANSWERS-A promise to pay by the accepting party at some future date.
Bill of Lading - ANSWERS-A document issued to an exporter by a common carrier transporting
merchandise. It serves as a receipt, a contract, and a document of title.
, The Export-Import Bank (EXIM) - ANSWERS-Agency of the U.S. government whose mission is to
provide aid in financing and facilitate exports and imports.
Countertrade - ANSWERS-The trade of goods and services for other goods and services.
Barter - ANSWERS-The direct exchange of goods or services between two parties without a cash
transaction.
Counter Purchase - ANSWERS-A reciprocal buying agreement.
Offset - ANSWERS-Agreement to purchase goods and services with a specified percentage of
proceeds from an original sale in that country from any firm in the country.
Switch Trading - ANSWERS-Use of a specialized third-party trading house in a countertrade
arrangement.
Buyback - ANSWERS-Agreement to accept a percentage of a plant's output as payment for
contract to build a plant.
Production - ANSWERS-Activities involved in creating a product.
Supply Chain Management - ANSWERS-The integration and coordination of logistics, purchasing,
operations, and market channel activities from raw material to the end-customer.
Purchasing - ANSWERS-The part of the supply chain that includes the worldwide buying of raw
material, component parts, and products used in manufacturing of the company's products and
services.
WITH COMPLETE SOLUTIONS8
Sogo Shosha - ANSWERS-Japanese trading companies; a key part of the keiretsu, the large
Japanese industrial groups.
MITI - ANSWERS-Japan's Ministry of International Trade and Industry.
Export Management Company (EMC) - ANSWERS-Export specialist that acts as an export
marketing department for client firms.
Letter of Credit - ANSWERS-Issued by a bank, indicating that the bank will make payments under
specific circumstances.
Bill of Exchange - ANSWERS-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.
Draft - ANSWERS-An order written by an exporter telling an importer what and when to pay.
Sight Draft - ANSWERS-A draft payable on presentation to the drawee.
Time Draft - ANSWERS-A promise to pay by the accepting party at some future date.
Bill of Lading - ANSWERS-A document issued to an exporter by a common carrier transporting
merchandise. It serves as a receipt, a contract, and a document of title.
, The Export-Import Bank (EXIM) - ANSWERS-Agency of the U.S. government whose mission is to
provide aid in financing and facilitate exports and imports.
Countertrade - ANSWERS-The trade of goods and services for other goods and services.
Barter - ANSWERS-The direct exchange of goods or services between two parties without a cash
transaction.
Counter Purchase - ANSWERS-A reciprocal buying agreement.
Offset - ANSWERS-Agreement to purchase goods and services with a specified percentage of
proceeds from an original sale in that country from any firm in the country.
Switch Trading - ANSWERS-Use of a specialized third-party trading house in a countertrade
arrangement.
Buyback - ANSWERS-Agreement to accept a percentage of a plant's output as payment for
contract to build a plant.
Production - ANSWERS-Activities involved in creating a product.
Supply Chain Management - ANSWERS-The integration and coordination of logistics, purchasing,
operations, and market channel activities from raw material to the end-customer.
Purchasing - ANSWERS-The part of the supply chain that includes the worldwide buying of raw
material, component parts, and products used in manufacturing of the company's products and
services.
