
Understanding Import and Export Processes

Quiz
•
Business
•
12th Grade
•
Easy
Megha Kaushik
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step an importer takes when seeking goods?
Identify products and research suppliers.
Select a shipping method
Obtain import licenses
Negotiate payment terms
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What information do exporters provide in their quotations?
Exporters provide product details, pricing, payment terms, delivery schedules, shipping methods, and applicable taxes or duties.
Only product names and quantities
Market trends and competitor analysis
Shipping costs and customer reviews
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an indent in the context of export orders?
An indent is a type of shipping container.
An indent refers to the weight of goods being exported.
An indent is a payment method used in international trade.
An indent is a formal order for goods in export transactions.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What details are typically included in an indent?
Details typically included in an indent are indent number, item description, quantity, unit price, total price, delivery date, and terms or conditions.
Item description, supplier name, warranty period
Indent number, item weight, shipping method
Quantity, item color, payment method
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important for exporters to verify the credit-worthiness of importers?
To ensure that all transactions are conducted in cash only.
To increase the chances of overpayment by importers.
To minimize the risk of non-payment and ensure reliable transactions.
To avoid any form of communication with the importers.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might an exporter request from an importer during a credit enquiry?
Financial statements, credit references, or bank guarantees.
Market analysis reports, competitor pricing, or promotional materials.
Product samples, shipping costs, or delivery schedules.
Insurance policies, sales forecasts, or inventory lists.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if an importer finds the terms of a quotation acceptable?
The importer cancels the order altogether.
The importer confirms the order with the supplier.
The importer rejects the order with the supplier.
The importer waits for a better quotation.
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