Quiz - INCOTERMS

Cheapest and best way of transporting heavy and bulky goods over a long distance.

• Air

• Land

• Sea

Which incoterms has the condition wherein the buyer absorbs all the risk, insurance and cost?

• EXW

• FCA

• FOB

If all the goods to be transported are accommodated in one single container, it is called

• FCL (Full Container Load)

• LCL (Less than Container Load)

• CL (Consolidated Load)

_____ are common terms and rules developed to mitigate language barriers in international shipping.

• MARITIME Laws

• INCOTERMS

• STEERAGE Laws

• MARITIME Codes

What is the meaning of Incoterm CPT?

• Carriage Ported Towards

• Carriage Paid To

• Carriage Processed To

What is the meaning of Incoterm CIP?

• Cost & Insurance Paid To

• Cost & Interest Procured

• Carriage & Insurance Paid To

What is the meaning of Incoterm FAS?

• Free Alongside Ship

• Forward Along Shipment

• Free Allotted Ship

FAS (Free Alongside Ship) and FOB (Free On Board) are rules for which kind of transport?

• Any kind of transport - sea, land or air

• Inland waterway or sea transport

• Rail transport only

• Air transport only

Which INCOTERM, of the following, is NOT EXCLUSIVE for Maritime Transport?

• FOB

• CIF

• FAS

• DDP

When do we invoice if Incoterms 2010 are CIP (destination address)

• Once goods are handed over to the first carrier or forwarder

• Once goods arrive at destination airport / seaport

• Once goods leave the factory at origin