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WorksheetsINSU 305 (Ch.4)
Total questions: 17
Worksheet time: 17mins
One of the following contracts used to divide transaction costs and responsibilities between buyer and seller
INCOTERMS
Reinsurance
Insurance
Affreightment
According to Ex-Works (EXW) in INCOTERMS, ………………
The seller is responsible for all charges
The buyer is responsible for all charges
The reinsurance is responsible for all charges
The ship-owner is responsible for all charges
Which of the following provide the most coverages to traders at the highest premium?
FCA – Free Carrier
Institute Cargo Clause C
Institute Cargo Clause B
Institute Cargo Clause A
Incidental perils are caused due to faults in loading, carrying and unloading, that refer to:
Maritime risks
War perils
Unusual risks
Strike risks
In INCOTERMS, the seller pays for all transportation costs and bears all risks – until the goods have been delivered, according to:
FCA – Free Carrier
CIP – Carriage and Insurance Paid
OAF – Delivered at Frontier
DDP – Delivery Duty Paid
Regarding DDU (Delivered Duty Unpaid), The buyer is responsible for the costs and risks for the unloading, duty and any subsequent ……… delivery beyond the place of destination
Before
Prior
Post
during
In marine insurance, the haulier could be responsible for full value stated on the policy expect for losses arising from ………………….
Deterioration or variation in temperature
Damages due to delivery within the time of contract
Free storage
International losses
In marine insurance, the risks of war are covered by:
Institute Cargo Clause A
Institute Cargo Clause B
Separate policy
Institute Cargo Clause C
In marine insurance war risks perils coverage provided by separate policy
True
False
Institute cargo clause C is a policy that covers the third party only
True
False
In marine insurance war risks perils coverage provided by separate policy
True
False
INCOTERMS do not deal with the transfer of ownership of goods
True
False
According to Ex-Works (EXW), in INCOTERMS, the buyer is not responsible for all charges
True
False
Everything you see has been Cargo at some point of its life.
True
False
The Haulier doesn't own the goods themselves.
True
False
INCOTERMS deal with the transfer of ownership of goods.
True
False
INCOTERMS helps avoid differing translation and problems with language barriers.
True
False
