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WorksheetsUnderstanding Incoterms Quiz
Total questions: 8
Worksheet time: 4mins
What are Incoterms primarily used for?
Determining the quality of goods
Calculating the total cost of goods
Setting the exchange rate for international trade
Defining the responsibilities of sellers and buyers in export transactions
Which Incoterm rule specifies that the seller is responsible for unloading the goods?
DPU - Delivered at Place Unloaded
FOB - Free on Board
CIF - Cost Insurance and Freight
DAP - Delivered at Place
Which organization issues the Incoterms?
World Trade Organization (WTO)
International Chamber of Commerce (ICC)
World Bank
United Nations (UN)
What do Incoterms NOT cover?
The responsibilities of sellers and buyers
The tasks, costs, and risks in transactions
The point at which risk transfers from seller to buyer
The method and timing of payment
Which Incoterm is used for any mode of transport?
CPT - Carriage Paid To
CFR - Cost and Freight
FAS - Free Alongside Ship
FOB - Free on Board
Which Incoterm rule is specifically for sea and inland waterway transport?
EXW - Ex Works
FCA - Free Carrier
CFR - Cost and Freight
DAP - Delivered at Place
What is the primary purpose of Incoterms?
To determine the quality standards of goods
To clarify tasks, costs, and risks in transactions
To set international trade tariffs
To establish currency exchange rates
Where can the latest version of Incoterms be obtained?
World Trade Organization website
International Chamber of Commerce website
World Bank website
United Nations website
