CHAPTER 6 – INCOTERMS EXAM QUESTIONS AND ANSWERS ALREADY PASSED
Incoterms Rules stands for - Answers International Commerce Terms
The document that corresponds clearly to the transfer of responsibility for a Free Carrier
shipment is the receipt given by the carrier to the exporter. This receipt can be - Answers ALL
OF THE ABOVE; (a sea waybill, an air waybill, a multi-modal bill of lading)
Delivered at Place is an Incoterms Rule designed specifically for - Answers It can be used for
any means of transportation
The only Incoterms Rule which requires the importer to clear the merchandise for export from
the country from which it is coming is - Answers Ex-Works
While on the surface Incoterms Rules determine who pays what when, ultimately the _____
directly or indirectly pay(s) the costs of transportation and international shipping. - Answers
Importer
The choice of the Incoterms® Rule is almost always the decision of the - Answers exporter
One of the differences between the Delivered At Terminal Rule 2010 (Delivered at Place,
Unloaded, since 2020) and the Delivered At Place Incoterms Rule - Answers The unloading costs
are borne by the exporter under DAT and by the importer under DAP.
Under the Cost, Insurance, and Freight Incoterms Rule, - Answers The insurance must total at
least 110 percent of the value of the goods.
Certain countries do not allow importers to purchase insurance abroad. Which Incoterm is
therefore not available to importers located in these countries? - Answers CIP
FOB is - Answers ALL OF THE ABOVE: (Free on Board; an Incoterms Rule that can be used for
any merchandise; and Incoterms Rule specifically designed for ocean transportation.)
Under the Incoterms Rule FOB, responsibility for the cargo - Answers Shifts from exporter to
importer when the goods are loaded onto the ship in the country from which the goods are
leaving.
The choice of a proper Incoterms Rule is a critical decision because - Answers ALL OF THE
ABOVE: (It can be an integral part of export strategy; it is linked to the level of customer service
the firm is attempting to provide; it can be a competitive advantage)
The Incoterms Rule EXW specifies what regarding delivery? - Answers It lets the exporter decide
when the goods are delivered
In terms of cost and responsibility, the easiest Incoterms® Rule for the exporter which is, in turn,
the most difficult for the importer is - Answers Ex-Works (EXW)
Incoterms Rules stands for - Answers International Commerce Terms
The document that corresponds clearly to the transfer of responsibility for a Free Carrier
shipment is the receipt given by the carrier to the exporter. This receipt can be - Answers ALL
OF THE ABOVE; (a sea waybill, an air waybill, a multi-modal bill of lading)
Delivered at Place is an Incoterms Rule designed specifically for - Answers It can be used for
any means of transportation
The only Incoterms Rule which requires the importer to clear the merchandise for export from
the country from which it is coming is - Answers Ex-Works
While on the surface Incoterms Rules determine who pays what when, ultimately the _____
directly or indirectly pay(s) the costs of transportation and international shipping. - Answers
Importer
The choice of the Incoterms® Rule is almost always the decision of the - Answers exporter
One of the differences between the Delivered At Terminal Rule 2010 (Delivered at Place,
Unloaded, since 2020) and the Delivered At Place Incoterms Rule - Answers The unloading costs
are borne by the exporter under DAT and by the importer under DAP.
Under the Cost, Insurance, and Freight Incoterms Rule, - Answers The insurance must total at
least 110 percent of the value of the goods.
Certain countries do not allow importers to purchase insurance abroad. Which Incoterm is
therefore not available to importers located in these countries? - Answers CIP
FOB is - Answers ALL OF THE ABOVE: (Free on Board; an Incoterms Rule that can be used for
any merchandise; and Incoterms Rule specifically designed for ocean transportation.)
Under the Incoterms Rule FOB, responsibility for the cargo - Answers Shifts from exporter to
importer when the goods are loaded onto the ship in the country from which the goods are
leaving.
The choice of a proper Incoterms Rule is a critical decision because - Answers ALL OF THE
ABOVE: (It can be an integral part of export strategy; it is linked to the level of customer service
the firm is attempting to provide; it can be a competitive advantage)
The Incoterms Rule EXW specifies what regarding delivery? - Answers It lets the exporter decide
when the goods are delivered
In terms of cost and responsibility, the easiest Incoterms® Rule for the exporter which is, in turn,
the most difficult for the importer is - Answers Ex-Works (EXW)
