FIL Chapter 2

What is the practice of sending or carrying goods or services to a foreign country for trade or sale called?

• Importing

• Exporting

• Licensing

• Offshoring

What are the main exports of Malaysia?

• Electrical and electronics products, chemicals, petroleum products, liquefied natural gas, and palm oil

• Integrated Circuits, Refined Petroleum, Crude Petroleum, Special Purpose Ships, and Broadcasting Equipment

• Electrical and electronic products, chemicals, petroleum products, and machinery, appliances and parts

• Electrical and electronics products, chemicals, petroleum products, and palm oil

What are the benefits of exporting?

• Increased sales and increased profitability, reduced reliance on domestic markets, and new opportunities for growth

• Financial risk, risk of non-payment, and foreign exchange rate risk

• Comparative advantage, higher-quality products, and access to regionally exclusive resources

• Lower costs in offshore regions, less stringent regulatory control, and lower communication and IT costs

Custom pledge is not one of the steps of Exporting and Importing

• True

• False

What are the main imports of Malaysia?

• Electrical and electronics products, chemicals, petroleum products, and machinery, appliances and parts

• Integrated Circuits, Refined Petroleum, Crude Petroleum, Special Purpose Ships, and Broadcasting Equipment

• Electrical and electronic products, chemicals, petroleum products, liquefied natural gas, and palm oil

• Electrical and electronics products, chemicals, petroleum products, and palm oil

The declaration of export is to use Customs Form No.2 (K2)

• True

• False

The authorities (PDRM) have the have the right to inspect consignments to ensure that the exports/imports comply with laws and regulations when we are exporting goods.

• False

• True

Please select the correct disadvantages of import

• Conflict in the domestic values due to the acceptance of social values.

• Currency Risk

• Political Risk

• Lead the erosion of the domestic markets and national economies.

Higher-quality products is one of the advantages of import.

• True

• False

Payment of Duties/Cess is the ______ step in Exporting goods.

• Fifth

• Third

• Fourth

• Sixth