Practice International Commercial Terms - Incoterms (12) - General Principles of Contracts Management

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9 questions

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3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What does FOB stand for?
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Consider the transport stage where the responsibility lies.
Question 2.
Which Incoterm means the seller bears all costs until delivery?
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Think about who carries the burden in delivery negotiations.
3Question 3.
What does Incoterms help determine?
- Shipping methods
- Responsibilities in trade
- Payment terms
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Think about the purpose of these terms.
4Question 4.
True or False: Under DDP, the buyer is responsible for import duties.
- True
- False
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Consider who pays at the delivery point.
Question 5.
If a seller uses DDP in the agreement but the buyer is inexperienced in customs, how might this affect the transaction?
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Consider customs processes in international trade.
Question 6.
Analyze how switching from CIF to FOB might impact the cost structure for a buyer.
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Focus on risk and cost during shipping.

5 more questions in this section. Enroll free to practise them all.