WorksheetsIncoterm 2020_Tiff
Total questions: 10
Worksheet time: 3mins
Incoterms are published by?
International Chamber of Commerce (ICC)
International Chamber of Code (ICC)
Incoterm Chamber of Commerce (ICC)
International Chamber Commitee (ICC)
Incoterms are subject to change every _ years?
3
5
8
10
True or False? Incoterms stand for Inter-Company Commercial Terms.
True
False
Which incoterms has the condition wherein the buyer absorbs all the risk, insurance and cost?
EXW (Ex Works)
FCA (Free Carrier - Place)
FOB (Free On Board)
In CFR Incoterm, the insurance is arranged by ______
Buyer
Seller
Freight Forwarder
What is NOT covered under CPT (Carriage Paid To XX) Incoterm?
Packing
Transportation
Insurance
Loading at departure
True or False. Incoterm® states when the seller’s costs and risks are transferred from the seller to the buyer.
True
False
Which Incoterm is sea and inland waterway transport only?
DAP (Delivered At Place)
CIP (Carriage and Insurance Paid To)
CIF (Cost, Insurance and Freight)
FOB (Free On Board)
What Incoterm is this? The seller is responsible to load the goods on board the ship nominated by the buyer.
FAS (Free Alongside Ship)
FOB (Free On Board)
FCA (Free Carrier at Named Place)
DPU (Delivered At Place Unloaded)
For CIF Incoterm 2020, when will the risks be transferred from the Seller to the Buyer?
Once the cargo is at the Buyer's disposal.
When cargo is placed alongside the ship.
When cargo is loaded on board of a vessel.
When cargo reaches the agreed named destination.
