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

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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