Terms of Trade or Incoterms Rules

Among the following, the most customer-friendly Incoterms^® Rule is

• FCA.
• CIP.
• DAP
• FOB

A set of standardized Terms of Trade was created in _____ by the International Chamber of Commerce.

• 1930
• 1953
• 1936
• 1967

The most recent Incoterms® rules were revised in _____.

• 2010
• 2015
• 2000
• 2005

ICC Intercoms® rules are only used for international trade terms. 

• True
• False

A major consideration when selecting the correct Incoterms® rule is that sellers and buyers should not use terms that imposes risks and obligations beyond their control.

• True
• False

Under the Ex-Works agreement it is the responsibility of the buyer to load the vehicle.

• True
• False

Under the Free Carrier Incoterms® Rule, the importer is responsible for clearing the merchandise for export.

• True
• False

Under the FOB Incoterms^® Rule, in countries where export authorities require a pre-shipment inspection, the importer must pay for it.

• True
• False

FCA has become one of the most popular Incoterms® rules as the number of multi-mode shipments increased.

• True
• False

The Cost, Insurance, and Freight Incoterms^® Rule is specifically designed for ocean transportation.

• True
• False