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WorksheetsINCOTERM QUIZZ
Total questions: 15
Worksheet time: 5mins
What are Incoterms and who publishes them?
A) International Commercial Terms, published by the International Chamber of Commerce (ICC)
B) International Contract Terms, published by the International Trade Organization (ITO)
C) International Customs Terms, published by the World Customs Organization (WCO)
D) International Commerce Terms, published by the United Nations Conference on Trade and Development (UNCTAD)
What is the main purpose of Incoterms?
A) To define the responsibilities and obligations of the buyer and the seller in an international trade transaction
B) To regulate the tariffs and quotas of the importing and exporting countries
C) To harmonize the legal systems and dispute resolution mechanisms of the trading parties
D) To standardize the payment methods and currency exchange rates of the trading parties
How many Incoterms are there in the latest version (2020) and how are they classified?
A) 11 Incoterms, classified into two groups: E and F terms
B) 13 Incoterms, classified into two groups: C and D terms
C) 15 Incoterms, classified into three groups: E, F, and C terms
D) 11 Incoterms, classified into two groups: rules for any mode or modes of transport and rules for sea and inland waterway
Which Incoterm does not exist in INCOTERMS 2020?
DDU
DAP
DPU
DDP
Which Incoterm requires the seller to deliver the goods to the buyer at the seller's premises or another named place, without loading them onto any collecting vehicle?
A) EXW (Ex Works)
B) FCA (Free Carrier)
C) CPT (Carriage Paid To)
D) DAP (Delivered At Place)
The Incoterms which is already abolished are still available?
Available if the custom officer accepts.
Available under the agreement between shipper and consignee.
Available if the shipping line accepts.
Not available.
What's in common between DAP and DDP?
The consignee takes responsibility for unloading cargo.
The shipper takes responsibility for cargo unloading.
The consignee pays for Duty and Tax.
The shipper pays for Duty and Tax.
In CPT and CIP, until where does the Shipper take the responsibility of the cost ?
At the pick up location in Export country.
Until the delivery location in Import country.
Until the port at Export side.
Until the port at Import side.
In CPT and CIP, where the responsibility of the Risk does move from the Shipper to Consignee?
The designated area at Export side.
On the vessel at Export side.
Off the vessel at Import side.
The designated area at Import side
If we use CFR, who pays for the insurance?
Shipper
Consignee
Shipper and Consignee share the cost
Where the responsibility of Cost and Risk does move from the Shipper to Consignee in FOB?
At export side CY
At import side CY
When the cargo is on the vessel at export side.
When the cargo is off the vessel at import side.
Who pays Duty/Tax in DDP?
Shipper
Consignee
No one
Sucafina SA buys coffee from a supplier in Uganda with term FCA Kampala. Then Sucafina SA sell this coffee to a client in Antwerp with term FOB Mombasa. Which of the following cost SA will need to pay?
Trucking from Kampala to the seaport Mombasa
Freight from Mombasa to Antwerp
Terminal handling charge in Antwerp
Insurance from Mombasa to Antwerp
Client wants Sucafina SA to take care of all logistics costs to bring the coffee from origin to their bonded warehouse in Barcelona, unloaded, which incoterms Sucafina can offer them?
DAP
DDP
DPU
CIF
Clients buys coffee from Sucafina with term CFR Shanghai. When coffee arrives at destination, they find 25 wet bags so they want to claim for a reimbursement. Who should they claim?
Shipping line
Sucafina SA
Their insurance company
Sucafina's insurance company
