Incoterms 2020 - GSBM

In with terms, sellers need to transfer goods to the carrier?

• FCA

• CPT

• CIP

• DPU

CIF

• Cost Insurance and Freight

• Cost Insurance Freight

Under the Incoterms® rule FOB ownership or property rights in the goods transfers from seller to buyer when the goods are placed on board the vessel at the port of shipment.

• A. True

• B. False

Under FCA, the seller is responsible for:

• Import clearance

• Export clearance

• Both export and import clearance

This INCOTERM requires seller to include in his quotation the marine insurance premium and ocean freight charges.

• DPU

• DAT

• DDP

• CIF

Which of the following is a role of Customs

• Enforce Quotas

• Collect country's revenue

• Control the movement of goods in and out of a country

• Compile statistics showing how many goods were imported and exported.

• All of the above

It means the price includes the cost of goods and transport charges to the destination port.

• FOB

• CIF

• CFR

• CPT

Customs authorities collects the duties-or taxes- applied to imports and exports.

• True

• False

It means the seller is responsible for the goods until they are loaded. The seller must pay all costs related to getting the goods to port and onto vessel.

• INCOTERMS – COST & FREIGHT (CFR)

• INCOTERMS – FREE ON BOARD

• INCOTERMS – COST INSURANCE FREIGHT (CIF)

In a CPT entry, who is responsible for the payment of Marine Insurance?

• Seller

• Buyer

• Importing Government

• Exporting Government