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Homework answers / question archive / The University of Newcastle IBUS 2003 WEEK 4 1)Under the CIP incoterm, the exporter is responsible for providing a minimum insurance cover equivalent to what value of the goods in transit? 220 % 50% 100 % 110 % 2
The University of Newcastle
IBUS 2003
WEEK 4
1)Under the CIP incoterm, the exporter is responsible for providing a minimum insurance cover equivalent to what value of the goods in transit?
220
%
50%
100
%
110
%
2. Under the CIF incoterms rule, a variant in insurance cover where the exporter and importer agree a higher level of insurance is represented by the following income syntax
A variant in insurance cover
110%
CIF • Naigai Lines, 176 Higashi-Machi, Chuo-Ku, Kobe 650-0031, Hyogo, Japan, Incoterms® 2020.
CIF • Naigai Lines, 176 Higashi-Machi, Chuo-Ku, Kobe 650-0031, Hyogo, Japan, Incoterms® 2020, maximum cover.
3. What category of shipment is preferable for the Ex-Works incoterms rules:
Small packages
Medium packages
Large
packages
All types
4. What is the latest version of the incoterms rules in international trade logistics?
Incoterms 2010
Incoterms 2021
Incoterms 2020
All the above
5. Some incoterms are appropriate for certain modes of transport, what is the commonly used incoterms rules for air freight?
FOB
FAS
FCA
DPU
6. The following incoterms rules are reserved specifically for ocean transport.
CIF, FAS, CFR, FOB
DPU, CIP, FAS, CIF
EXW, CPT, FOB, FCA
None of the above
7. Which of the following Incoterms 2020 rules is reserved for non-containerized cargo?
CP T
DP U
CIP
FAS
8. How many different Incoterms rules exist:
7
4
1
0
1
1
9. Which organisation is responsible for overseeing and updating incoterms rules in international trade?
International Criminal Court
World Trade Organisation
International Monetary Fund
International Chamber of Commerce
10. The following incoterm can be used for any means of transportation: road, air, ocean, and rail.
FOB
FAS
FCA
CIF
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