DVC Import / Export Wk 1

Define the acronym for W. T. O. 

• World Top Organizatioin
• World Trade Organization 
• Warehouse Trade Operation 

What does the term NAFTA stand for: 

• North Armenian Full Trade Agreement 
• North American Free Trade Agreement 
• North American Foreign Train Agreement 

Which countries does NAFTA include ? 

• South America, Mexico, and Ecuador 
• United States, Canada, and Mexico
• America, Puerto Rico, and Cuba 

Direct exporting provides greater control over sales and distribution.

• True 
• False 

The acronym EMC represents ______________________________ in Import and Exporting.  

• Export Manager Control  
• Export Management Company 
• Experienced Management Coordinator 

In your opinion what does "piggyback exporting" represent. 

• Is a Domestic distribution operation in which the shipper completes orders for large customers.
• Is a foreign distribution operation in which the exporters products are sold along with those of another manufacturer. 

An 'agent' normally takes title to the goods. 

• True
• False 

The US Customs Services requires that all goods be labelled with the Country of Origin. 

• True
• False 

Explain the term 'Spot Rate'. 

• The 'spot rate' is the exchange rate between two currencies quoted for delivery within two business days. 
• The Rate is the exchange between 4 currencies quoted for delivery for 30 days. 

Find today’s Exchange Rate between the British Pound (£) and the U.S. Dollar ($) . Use foreignmoney.com to obtain both rates. Pound/Dollar. 
Check this answer on google. for the current Rate for currency 

• Click for Free....:)
• We must look this up in the Dictionary