WorksheetsIncoterms 2020 (FNI 8)
Total questions: 10
Worksheet time: 8mins
What does FCA stand for in Incoterms 2020?
Freight Cost Adjustment
Forwarding Cargo Agent
Free Carrier
Free Shipper
Which Incoterm places the most responsibility on the seller?
FOB - Free on Board
DDP - Delivered Duty Paid
EXW - Ex Works
CIF - Cost, Insurance, and Freight
What is the main purpose of Incoterms?
To determine the weight of goods in international trade.
To define the responsibilities of sellers and buyers in international trade.
To establish the quality standards of goods in international trade.
To regulate the price of goods in international trade.
In Incoterms 2020, which term is used for sea and inland waterway transport only?
DDP
CIF
EXW
FCA
What does DPU stand for in Incoterms 2020?
Delivered at Place Unloaded
Destination Point Unloading
Direct Pick Up
Delivered at Port Unloaded
Which Incoterm requires the seller to clear goods for export?
DDP
EXW
CIF
FOB
What is the difference between FCA and FOB in Incoterms 2020?
The size of the shipment
The main difference is the point at which the risk transfers from the seller to the buyer.
The language spoken by the parties involved
The color of the packaging used
Which Incoterm is commonly used for containerized shipments?
CPT
FCA
DDP
EXW
What does DAT stand for in Incoterms 2020?
Delivered at Sea
Delivered at Terminal
Direct Air Transport
Duty and Taxes
Why are Incoterms important in international trade?
Incoterms are important in international trade to define responsibilities, transfer of risk, and allocation of costs between buyers and sellers.
Incoterms are used to determine the weather conditions for shipping goods internationally.
Incoterms are designed to regulate the quality standards of products in international trade.
Incoterms are only relevant for domestic trade, not international trade.
