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