Question 1 INCO terms are a valuable tool because they define several things. (L
ID: 375695 • Letter: Q
Question
Question 1
INCO terms are a valuable tool because they define several things. (List the 2 best answers.)
Where the freight will be loaded and unloaded
Who owns the freight at each point in the journey
Who is responsible for the freight at each point in the journey
Which currency exchange rates are to be used in the transaction
What the payment terms are between the buyer and seller
Who pays the cost for each part of the journey
compared to Ocean transportation, Air transportation is best described by these terms:
Reliable delivery time
Low freight cost
Volume is most important factor
Pollution is very high
Containers are standardized
Question 2
A ship that can fit 16 CONTAINERS ACROSS IS CALLED ……………..
A ship that can fit 20 CONTAINERS ACROSS IS CALLED ……………..
A ship that can fit 13 CONTAINERS ACROSS IS CALLED ……………..
A ship that can fit 18CONTAINERS ACROSS IS CALLED ……………..
Question 3
1-0 Identify the two biggest steamship companies in terms of annual TEU’s carried:
NYK lines
APL
COSCO
Mediterranean Shg Co
Hanjin
CMA CGM
Maersk
MOL
2-0 In hopes of attracting bigger container ships coming through the wider canal, ports are doing which of the following activities:
Improve rail service
Install rails for cranes
Install bigger Cranes
Expand Oil Storage Tanks
Strengthen wharfs
Dredge berths
Complete LNG transfer facilities
Raise bridges
Expand container storage space
Lengthen piers
3-0 Under which INCO terms do the sellers (shippers) have the LEAST responsibilities?
CIF
DDP
DAF
EXW correct
CFR
FAS
DES
FOB
4-0 Under which INCO terms do the sellers (shippers) have the MOST responsibilities?
CIF
DDPcorrect
DAF
EXW
CFR
FAS
DES
FOB
5-0 When would you be more likely to use Ocean transportation instead of Air transportation?
Interest rates are getting higher and higher
Fuel costs are getting higher and higher
The product is getting heavier and heavier
The products is getting very expensive
6-0 Ocean freight rates are different in different directions for what reason? (choose the BEST answer)
Ocean currents make it harder to go one direction than the reverse
Bunker Fuel costs are different in different countries
Prevailing trade winds help travel in one direction and hinder it in the other
Currency exchange rates magnify slight differences in cost
Busy lanes are charged more, light lanes are charged less to get the empty containers back to where they are needed
Export taxes and duty rates differ by each country thus changing the freight rates
7-0 the Bull-Whip effect in the Steamship industry causes which of the following effects?
Alternating years of big profits and big losses by steamship companies
Service to be very poor when rates are at their highest
Service to be very good when rates are at their highest
Carriers to continue to reduce capacity even while customer demand is rising
Carriers to continue to add capacity while customer demand is falling
8-0 CIF is a popular INCO term used in international trade. What do the C, I, and F stand for?
Cartage, Interest, and Finance
Cost, Inspection, and Fees
Cartage, Investment, and Freight
Cartage, Interest, and Fees
Consignee Importation Fee
Consignment Insurance Fee
Cost, Insurance, and Freight
Explanation / Answer
Q1.
a)
The two best answers are
Who owns the freight at each point in the journey
Who is responsible for the freight at each point in the journey
b).
Reliable delivery time
Volume is most important factor.
Air transportation is a faster mode and is highly reliable in terms of on-time delivery as compared to ocean transportation. Also owing to high cost per volumetric weight, volume is a very important factor.
Q2.
A ship that can fit 16 CONTAINERS ACROSS IS CALLED … Feedermax…………..
A ship that can fit 20 CONTAINERS ACROSS IS CALLED … Ultra Large Container Vessel (ULCV) …
A ship that can fit 13 CONTAINERS ACROSS IS CALLED … Panamax …
A ship that can fit 18 CONTAINERS ACROSS IS CALLED … Very Large Container Vessel (VLCC) …
Q3.
The two biggest steamship companies are
i. Maersk Line of Denmark
ii. MSC (Mediterranean Shipping Company) of Switzerland
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