WorksheetsQuiz - INCOTERMS
Total questions: 18
Worksheet time: 14mins
Cheapest and best way of transporting heavy and bulky goods over a long distance.
Air
Land
Sea
Which incoterms has the condition wherein the buyer absorbs all the risk, insurance and cost?
EXW
FCA
FOB
If all the goods to be transported are accommodated in one single container, it is called
FCL (Full Container Load)
LCL (Less than Container Load)
CL (Consolidated Load)
_____ are common terms and rules developed to mitigate language barriers in international shipping.
MARITIME Laws
INCOTERMS
STEERAGE Laws
MARITIME Codes
What is the meaning of Incoterm CPT?
Carriage Ported Towards
Carriage Paid To
Carriage Processed To
What is the meaning of Incoterm CIP?
Cost & Insurance Paid To
Cost & Interest Procured
Carriage & Insurance Paid To
What is the meaning of Incoterm FAS?
Free Alongside Ship
Forward Along Shipment
Free Allotted Ship
FAS (Free Alongside Ship) and FOB (Free On Board) are rules for which kind of transport?
Any kind of transport - sea, land or air
Inland waterway or sea transport
Rail transport only
Air transport only
Which INCOTERM, of the following, is NOT EXCLUSIVE for Maritime Transport?
FOB
CIF
FAS
DDP
When do we invoice if Incoterms 2010 are CIP (destination address)
Once goods are handed over to the first carrier or forwarder
Once goods arrive at destination airport / seaport
Once goods leave the factory at origin
When the Incoterm is Ex-Works, the buyer’s nominated freight forwarder must arrange for the loading of the goods into the truck at the factory. In practice, the seller assists in this task.
True
False
Into how many major Categories, is INCOTERMS 2010 grouped:
2
4
5
3
INCOTERMS is an abbreviation that stands for:
Invoice & Contracting Terms
International Collaboration Terms
International Commercial Terms
International Contracting Terms
You ordered your favorite product on AMAZON and paid for it. The website offers free delivery at your address and has issued a final invoice. What would be INCOTERM that applies in this case:
DDP
CPT
DAT
CIP
You quote only for the product, to make your offer comparable with competition, and remove all logistic expenses. Which INCOTERM have you assumed in the proposal:
FOB
FCA
EXW
CFR
Under FOB Incoterms (Free On Board), who bears the cost of Customs & Clearance
Seller
Buyer
In CFR Incoterm, the insurance is arranged by ______
Buyer
Seller
Freight Forwarder
A Shipment has been ordered from China, via maritime transportation using CPT Incoterm. What is NOT covered under CPT Incoterm?
Packing
Transportation
Insurance
Loading at departure
