Incoterms Multiple Choice Questions

What does EXW stand for?

• Export Warehouse

• Ex Works

• Exit Way

• Exclusive Warranty

Under which Incoterm does the seller bear the least responsibility?

• CIF

• FOB

• EXW

• DDP

Which Incoterm places the most responsibility on the seller?

• EXW

• DAP

• DDP

• FCA

Which Incoterm is appropriate only for sea or inland waterway transport?

• FCA

• CIP

• FOB

• DAP

In FOB, when does the risk transfer to the buyer?

• At the buyer's warehouse

• When goods are loaded on board

• When goods leave the seller’s factory

• Upon arrival at destination port

Who is responsible for unloading under DAP?

• Seller

• Buyer

• Both

• Freight Company

CIF includes which of the following?

• Cost only

• Cost and Freight

• Cost, Insurance, and Freight

• Freight and Duties

Under FCA, who loads the goods at the seller’s premises?

• Buyer

• Seller

• Carrier

• Customs

Which Incoterm is used when the seller pays freight and insurance?

• FOB

• CIF

• CIP

• DDP

What is the delivery point under EXW?

• Port of departure

• Seller's premises

• Buyer's warehouse

• Destination terminal