GIA Diamonds and Diamond Grading Final Exam Questions and Correct Answers. Complete Verified Solution 2024.

GIA Diamonds and Diamond Grading Final Exam Questions and Correct Answers. Complete Verified Solution 2024. Substantial price discounts are available to retailers and jewelry manufacturers who can buy in large quantities. The diamond industry has changed dramatically in recent years because the world's supply of diamond rough has increased. A diamond grading system provides a consistent way to communicate diamond quality. Diamond's supreme hardness and durability are a result of the conditions under which it formed. Wholesale price lists are usually organized according to specific combinations of the Four Cs. An estimation of the value of an article is a(n) appraisal The most consistent and dependable sources of diamond grades are reputable gemological laboratories. A diamond's clarity and color grades indicate its quality Once diamond deposits are located, mining companies must spend additional time and money to evaluate and develop them. Large, high-quality diamonds are graded much more thoroughly than small, low-quality ones. Reputable gem laboratories don't grade mounted diamonds because mountings hide details of clarity and cut. A wholesaler is someone who sells to retailers Diamond prices on wholesale price lists depend on the market conditions that exist when the lists are published. Dealers often sort melee by size using sieves The Argyle mine in Australia contributed to the rise of the cutting industry in India. Sightholders purchase diamond rough by attending invitation-only trading events. Before the discovery of South Africa's diamond deposits, the world's two major producers were India and Brazil Cecil Rhodes' main competitor in his early attempts to control diamond production was Barney Barnato The group that united in 1890 to buy and sell all of the output of the major diamond producers, including De Beers, was the London Diamond Syndicate Oppenheimer's answer to low diamond demand in the 1930s was to shut down operations at De Beers mines. In the diamond trade, the word "specials" refers to diamond rough over 10.80 cts. The Central Selling Organisation was a rough diamond distribution agency. The South African diamond rush was sparked by the discovery of the Star of South Africa. Diamond sources started appearing in South Africa during the 1860's The path diamonds followed from mine to consumer was called the diamond pipeline. The Diamond Information Center and the Diamond Promotion Service were created to assist in diamond marketing efforts. The soft, diamond-bearing material near the surface of a diamond field was named yellowground. De Beers Consolidated Mines Ltd. was named after the owners of a farm where one of the first diamond rushes took place. Who established De Beers Consolidated Mines Ltd. in 1888? Cecil Rhodes De Beers requires its sightholders to have an excellent reputation in the industry and the financial strength to make large purchase commitments. Which diamond mine's huge production influenced the world market in the late 1980s? Argyle Because the Australians believed the CSO's marketing favored large stones over smaller ones, they aggressively promoted jewelry set with their own tiny gems. De Beers became a privately owned company in May 2001 In South Africa, a new mining charter that designates the people of the country as the owners of its mineral resources is a result of Black Economic Empowerment. A commitment to reserve a portion of the resources derived from any country for the economic development of that country is called beneficiation One of the changes that resulted from De Beers' strategic review in 1999 was that De Beers changed the name of the CSO to the DTC. Vast quantities of small, inexpensive diamonds suitable for low-cost, mass-market jewelry are mined in Australia A bourse is a(n) diamond buying and selling club. A city, region, or country with a large number of gemstone manufacturers is called a Cutting Center In 2000, De Beers altered its consumer advertising by introducing the "Forevermark" logo. The diamond industry program designed to ensure that diamonds do not fund civil conflict or terrorism is called The kimberley process The involvement of a business or industry in all aspects of its product's market is called vertical integration. By 2004, more than 90 percent of manufacturing for the diamond market was done in India The program adopted by De Beers in 2007 to answer critics and resolve shortcomings of its SOC program is called Supplier of Choice 2. Businesses that sell to consumers via television cable, phone line, or satellite are called electronic retailers. Most of the world's kimberlite pipes do not contain diamonds in profitable quantities. The proper environment for diamond formation includes the right temperature, pressure and the availability of carbon. Scientists have found that diamonds form in two types of rocks, called peridotite and eclogite. Subduction occurs when two of the earth's crustal plates collide. During emplacement, if diamonds are exposed to high temperature along with decreased pressure for a long period, they will convert to graphite. Diamond is hard and graphite is soft because of the difference in the way their atoms fit together. The first authenticated diamond discovered in South Africa is named the Eureka The large, stable parts of the earth's continental crust are called Cratons Before arriving at the earth's surface, diamonds might remain in the mantle for as long as a few Hundred Million Years