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Incoterm 2020_Tiff

Authored by Tiffany Khong

Professional Development

Professional Development

Used 39+ times

Incoterm 2020_Tiff
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10 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Incoterms are published by?

International Chamber of Commerce (ICC)

International Chamber of Code (ICC)

Incoterm Chamber of Commerce (ICC)

International Chamber Commitee (ICC)

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Incoterms are subject to change every _ years?

3

5

8

10

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False? Incoterms stand for Inter-Company Commercial Terms.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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

EXW (Ex Works)

FCA (Free Carrier - Place)

FOB (Free On Board)

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In CFR Incoterm, the insurance is arranged by ______

Buyer

Seller

Freight Forwarder

6.

MULTIPLE SELECT QUESTION

20 sec • 2 pts

What is NOT covered under CPT (Carriage Paid To XX) Incoterm?

Packing

Transportation

Insurance

Loading at departure

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

True or False. Incoterm® states when the seller’s costs and risks are transferred from the seller to the buyer.

True

False

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