Incoterms Quiz

Incoterms Quiz

Professional Development

20 Qs

quiz-placeholder

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Incoterms Quiz

Incoterms Quiz

Assessment

Quiz

English

Professional Development

Practice Problem

Hard

Created by

Shirley Villamar

Used 1+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of Incoterms?

To regulate international shipping rates

To communicate obligations, tasks, costs, and risks in goods transportation

To establish currency exchange rates

To set international trade tariffs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which Incoterm places minimum responsibility on the seller?

FOB

CIF

DDP

EXW

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which year were Incoterms first published?

1953

1967

1936

1980

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Incoterms beginning with 'F' indicate:

The seller pays for primary shipping

The primary cost of shipping is not paid by seller

The goods are ready to depart from facilities

The shipper's responsibility ends at specific points

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which payment method is considered the most secure tool in international trade?

Open Account

Cash-in-Advance

Letter of Credit

Documentary Collection

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does CIF stand for?

Carriage Insurance Free

Cost, Insurance and Freight

Commercial International Freight

Carrier International Fee

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In domestic trade, which payment term requires the buyer to pay upon delivery?

Cash with Order

Payment on Invoice

Cash on Delivery

Open-account terms

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