BUSN 410 EXAMPREP REVIEW SHEET
TESTED QUESTIONS AND ACCURATE
ANSWERS
●● risk management
Answer: continuing process to identify, analyze, evaluate, and minimize
loss exposures and to mitigate adverse affects of loss
●● ability to risk manage is dependent on:
Answer: knowledge and experience
●● transport risk
Answer: - potential for unexpected shipping delays and expenses or to
damage or loss to goods during transit
- passes from seller to buyer at some point
●● currency control risk
Answer: when a firm must convert one currency to another before it can
be used
●● exchange rate risk
Answer: caused by fluctuations in relative value of two currencies
,●● forward exchange contract
Answer: to buy or sell currency at an agreed rate for a certain time
●● currency option
Answer: contract to buy or sell currency at an agreed rate for a certain
time
●● forward exchange contract
Answer: to buy or sell currency at an agreed rate for a certain time
●● currency option
Answer: contract to buy certain amount of currency on or before a date
or to let it expire
●● customs brokers
Answer: agent of importer licensed to tract business with customs
authorities and clear goods for international travel
●● freight forwarders
Answer: agent of shippers to arrange transportation and insurance and in
assisting in preparing documents for export
, ●● international Banks
Answer: service international trade and business
●● international trade administration
Answer: assistnace agencies
●● World Intellectual Property Organization
Answer: part of UN
●● intellectual property rights
Answer: legal rights which result from intellectual activity in the
industrial, scientific, literary, and artistic fields
●● IP licensing agreements
Answer: contracts by which the owner of intellectual property can grant
specific rights in that property to another property with specified
conditions
(differ by country)
●● franchising
Answer: a business arrangement that uses an agreement to license,
control, and protect the use of the franchisor's IP and such
TESTED QUESTIONS AND ACCURATE
ANSWERS
●● risk management
Answer: continuing process to identify, analyze, evaluate, and minimize
loss exposures and to mitigate adverse affects of loss
●● ability to risk manage is dependent on:
Answer: knowledge and experience
●● transport risk
Answer: - potential for unexpected shipping delays and expenses or to
damage or loss to goods during transit
- passes from seller to buyer at some point
●● currency control risk
Answer: when a firm must convert one currency to another before it can
be used
●● exchange rate risk
Answer: caused by fluctuations in relative value of two currencies
,●● forward exchange contract
Answer: to buy or sell currency at an agreed rate for a certain time
●● currency option
Answer: contract to buy or sell currency at an agreed rate for a certain
time
●● forward exchange contract
Answer: to buy or sell currency at an agreed rate for a certain time
●● currency option
Answer: contract to buy certain amount of currency on or before a date
or to let it expire
●● customs brokers
Answer: agent of importer licensed to tract business with customs
authorities and clear goods for international travel
●● freight forwarders
Answer: agent of shippers to arrange transportation and insurance and in
assisting in preparing documents for export
, ●● international Banks
Answer: service international trade and business
●● international trade administration
Answer: assistnace agencies
●● World Intellectual Property Organization
Answer: part of UN
●● intellectual property rights
Answer: legal rights which result from intellectual activity in the
industrial, scientific, literary, and artistic fields
●● IP licensing agreements
Answer: contracts by which the owner of intellectual property can grant
specific rights in that property to another property with specified
conditions
(differ by country)
●● franchising
Answer: a business arrangement that uses an agreement to license,
control, and protect the use of the franchisor's IP and such
