LM Quiz 5

Aiden is trying to understand different pricing methods for a new product. What does 'Ad Valorem' mean?

• According to distance

• According to size

• According to value

• According to weight

During a shipping class, Daniel asked, what is the purpose of the 'Bunker Adjustment Factor' (BAF)?

• To cover customs fees

• To calculate shipping distance

• To compensate for fluctuating fuel costs

• To adjust for cargo weight

What does 'Demurrage' refer to in the context of shipping delays experienced by Aiden?

• A penalty for delaying the carrier's equipment

• A fee for loading cargo

• A charge for customs clearance

• A fee for unloading cargo

Jackson is waiting for a package to arrive. What is the meaning of 'ETA' in shipping terms?

• Estimated Time of Arrival

• Estimated Time of Action

• Estimated Time of Assessment

• Estimated Time of Adjustment

Avery is learning about shipping terms in her logistics class. What does 'FCL' stand for?

• Freight Cargo Load

• Freight Container Load

• Full Container Load

• Full Cargo Load

Sophia is trying to understand what the 'Customs Filing Fee' is when importing goods for her new business.

• A fee for arranging customs clearance

• A fee for freight forwarding

• A fee for shipping insurance

• A fee for cargo storage

During a recent group project, Priya discovered that a 'Surcharge' was added to their shipping costs. What does 'Surcharge' mean in shipping?

• A fee for late delivery

• An extra or additional charge

• A discount on shipping rates

• A tax on imported goods

What is the 'Port of Entry'?

• The port where cargo is unloaded

• The port where customs fees are paid

• The port where cargo is loaded

• The port where shipping documents are processed

Evelyn is preparing for her shipping logistics exam. What does 'ISF' stand for?

• Importer Security Filing

• International Shipping Fee

• International Security Fund

• Import Security Fee

What is the 'Hazardous Surcharge' that Scarlett encountered while shipping her science project?

• A fee for late shipments

• A surcharge for shipping hazardous materials

• A charge for additional insurance

• A fee for shipping fragile items