INCOTERMS

INCOTERMS

University

9 Qs

quiz-placeholder

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INCOTERMS

INCOTERMS

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Cletus Emmanuel

Used 1+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers when it places the goods at the disposal of the buyer at the seller’s premises or at another named place (i.e.,works, factory, warehouse, etc.). The seller does not need to load the goods on any collecting vehicle, nor does it need to clear the goods for export, where such clearance is applicable.

FAS

EXW

FCA

CFR

FOB

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers the goods to the carrier or another person nominated by the buyer at the seller’s premises or another named place. The parties are well advised to specify as clearly as possible the point within the named place of delivery, as the risk passes to the buyer at that point.

CFR

FOB

FAS

CIF

FCA

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.

CIP

CPT

FAS

FCA

FOB

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.

CPT

CIP

FAS

CFR

FOB

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers when the goods are placed alongside the vessel (e.g., on a quay or a barge) nominated by the buyer at the named port of shipment. The risk of loss of or damage to the goods passes when the goods are alongside the ship, and the buyer bears all costs from that moment onwards.

CPT

EXW

FCA

FAS

FOB

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment onwards.

CFR

CIF

FOB

FCA

FAS

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.

CIP

FCA

FOB

CFR

FAS

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