1、Which is the international convention that regulates the negotiation, conclusion and implementation of international sales contract? A、UCP600 B、Contract Law of PRC C、CISG D、INCOTERMS 2010
2、International rules, such as UCP, have the same binding effect as laws.
3、Domestic laws could be ignored when we conducting business internationally.
4、There is no difference between domestic trade and international trade.
5、International trade customs/rules is law and widely used in international trade; it has binding force on the seller and buyer.
6、International rules have no binding effect unless they are integrated into the contracts.
7、UCP600 is an international treaty or agreement.
Chapter Three Subject
Test for subject
1、In the case of neutral packing with designated brand, ( ) A、neither brand or trade mark nor the country of origin is indicated B、both brand or trade mark and the country of origin are indicated C、only brand or trade mark is indicated D、only the country of origin in indicated
2、The most commonly adopted way of stipulating weight in international trade contract is ( ). A、gross weight B、net weight C、theoretical weight D、tare weight
3、( ) is suitable for measuring the weight of the importing wool. A、theoretical weight B、conditioned weight C、contracted weight D、net net weight
4、According to international trade practice, ( ) should provide the shipping marks unless stipulated in the contract. A、the issuing bank B、the seller C、the carrier D、the buyer
5、Counter samples can also be called ( ). A、duplicate samples B、sealed samples C、confirmed sample D、reference samples
6、Sale by sample is applicable to （ ） most. A、toys B、medicine C、electric machine D、mineral ore
7、"West-lake Longjing Tea Zhejiang Origin" means it sales by ( ). A、Seller's sample B、Grade C、Specification D、name of Origin
8、More or less clause in a sales contract mainly includes the following EXCEPT( ) A、percentage of more or less B、tatal amount C、party determining the more or less D、pricing for the more or less part
9、According to UCP600."about " allows the quantity to be( ) more or less. A、3% B、5% C、10% D、15%
10、( ) is NOT frequently used in international trade. A、Metric System B、British System C、U.S.System D、French System
11、What are the four elements that should be included in an ISO standard shipping mark? A、The seller's initials B、The buyer's initials C、Reference number D、Number of packages E、Place/port of dispatch F、Place/port of destination
12、More or less clause in a sales contract mainly include the following parts( ). A、percentage of more or less B、party determining the more or less C、pricing for the more or less D、total amount
13、All marks on the shipping packages are officially termed as “shipping marks”.
14、If the seller delivers goods with quantity greater than that stipulated in the contract, according to CISG, the buyer may take delivery or refuse to take delivery of all the goods.
15、There are various ways of defining quality in contracts. In order to clear the responsibility, we should adopt both sale by sample and sale by specification.
16、Quality difference within the agreed quality latitude or tolerance will not give rise to the increase or decrease in price unless stipulated otherwise.
17、In order to meet the demand in the international market, we should make efforts to conclude business according to the buyer's sample.
18、Both gross weight and net weight can be used for measuring goods' quantity. If there are no terms in the Sales contract specifying which is to be used, gross weight should be applied according to CISG.
19、According to UCP600, a tolerance not exceeding 5% more or less than the quantity of the goods is always allowed if there is no relevant stipulation concerning quantity latitude.
20、There is no doubt that one ton equals to 1000kg.
21、In a sale by specification, if the seller provides a reference sample, the quality of goods delivered shall not only meet the specifications stipulated, but also conform to the sample .
22、If exporter finds it hard to manufacture according to the buyer’s sample, he may send a return or counter sample of similar quality to the buyer for his acceptance.
23、In accordance with the international practice, unless the contract stipulates otherwise, the more or less part will be priced at the contract rate.
Chapter Four Price
4.2 Rules of Trade Terms (6'29")随堂测验
1、Warsaw-Oxford Rules 1932 was developed by International Law Association to set rules for ______. A、FOB B、CFR C、CIF D、C&F
2、FOB ruled by the Revised American Foreign Trade Definition 1941 has no big difference from FOB ruled by Incoterms 2010.
Test for Price
1、According to INCOTERMS 2020, FOB and CFR share one thing that ( ). A、risk is transferred when the goods are loaded on board the vessel B、they can be used in any mode of transport C、the seller will be responsible for the unloading at the port of destination D、none of the above
2、Among all the trade terms in INCOTERMS 2020, ( ) imposes the minimum obligation and cost to the seller. A、EXW B、CIF C、DAP D、DDP
3、Among all the trade terms in INCOTERMS 2020, ( ) imposes the minimum obligation and cost to the buyer. A、EXW B、CIP C、DPU D、DDP
4、On the basis of CIF subject to INCOTERMS 2020, if the goods get loose from the hook and fall into the sea during the loading stage, ( ) should be liable for the loss. A、the buyer B、the seller C、the carrier D、both the seller and buyer
5、INCOTERMS 2020 requires the SELLER to handle the export customs clearance except under ( ). A、EXW B、FCA C、DAP D、DDP
6、According to INCOTERMS 2020, the following terms are applicable to any mode of transport EXCEPT ( ) A、DDP B、EXW C、FCA D、FAS
7、According to INCOTERMS 2020, as for the risks of sellers in FCA, CPT and CIP, which of the following orders is correct? A、FCA=CPT=CIP B、FCA>CPT>CIP C、CIP>CPT>FCA D、CPT>CIP>FCA
8、Which of the following price is correct for international quotation? A、$150.00 per Ton B、USD 150.00 per Ton C、USD 150.00 per M/T D、USD 150.00 per M/T CIF Antwerp E、GBP 100.00 per L/T FOB Jinan F、$ 150.00 CIF Antwerp
9、According to INCOTERMS 2020, the term CIF should be followed by ( ) A、named port of destination B、named port of shipment C、named place of destination D、named ship's rail
10、Company A in Nanjing wants to import goods from company B in Tokyo Japan. Which one of the following quotations is correct? ( ) A、USD 55.00 PER PIECE CIP NANJING B、USD 55.00 PER PIECE CIF TOKYO C、USD 55.00 PER PIECE FOBC3% NANJING D、USD 55.00 PER PIECE FAS NANJING
11、There are altogether ( ) terms defined by the Inconterms 2020. A、6 B、9 C、11 D、13
12、According to INCOTERMS 2020, under ( ) term it is especially importment for the seller to provide shipment motice to the buyer. A、CIF B、FAS C、CFR D、DDP
13、Incoterms2020 applies to ( ). A、contract of sale B、contract of carriage C、contract of insurance D、contract of financing
14、Which of the following prices is quoted for China's import? A、USD 15.00 per set CIF Shanghai B、USD 15.00 per set CIF Antwerp C、USD 15.00 per set FOB Shanghai D、EUR 15.00 per set FOB Antwerp E、USD 15.00 per set CPT Antwerp F、USD 15.00 per set CIP Xi'an, China G、USD 15.00 per set FCA Los Angeles
15、The Incoterms 2020 requires the buyer to handle the import customs clearance under( ) A、EXW B、FOB C、CFR D、DAP E、DDP
16、According to INCOTERMS 2020, the following trade terms ( ) are used for ONLY sea or inland waterway transport. A、EXW B、FOB C、FAS D、CPT E、CIF F、DAP
17、According to INCOTERMS 2020, which contracts on the basis of the following trade terms belong to shipment contract? ( ) A、FCA B、FOB C、CPT D、CIP E、DAP
18、According to INCOTERMS 2020, under CIF the seller has to effect insurance, therefore he has to bear the risk during the ocean transport.
19、According to INCOTERMS 2020, both DPU and DAP should be followed by named places of destination.
20、According to INCOTERMS 2020, under CIF, the seller has to contract for carriage and insurance, bearing the risk of loss or damage to the goods or additional costs due to events occurring after shipment or dispatch.
21、All the terms in INCOTERMS 2020 starting with “D” are arrival contract terms and they all indicate actual delivery.
22、As per Incoterms 2020, it is only under DDP that the exporter has to go through formalities and pay the necessary duties and fees for import.
23、According to INCOTERMS 2020, FCA and CPT have one thing in common that the seller delivers when the goods are handed over to the first carrier nominated by the buyer.
24、The EXW term indicates an actual delivery.
25、According to INCOTERMS 2020, all the terms starting with a "C" require the seller to bear the main costs of carriage and risk during the transport.
26、Under FCA term in Incoterms 2020, if the place of delivery specified in the contract is the seller's premises, the seller completes the delivery task when the goods are loaded on the means of transport provided by the buyer
27、According to INCOTERMS 2020, under CIP trade term, the seller should take out the insurance on the maximum cover.
28、According to INCOTERMS 2020, under DPU trade term, the seller is responsible for unloading the goods from the arriving vehicle at the place of destination.
1、Which one of the following documents has the function of the title to the goods. ( ) A、Sea waybill B、order bill of lading C、Rail waybill D、Parcel post receipt
2、Which of the following clause is a correct way to stipulate shipment date? ( ) A、Shipment as soon as the goods are inspected by the quality inspection agent. B、Shipment not later than September 30, 2019. C、Shipment within 90 days after receipt of L/C. D、Immediate shipment after the payment is cleared.
3、Which one of the following bill of lading will NOT be accepted by the bank for negotiation in a letter of credit transaction. ( ) A、Original bill of lading B、Clean bill of lading C、Received-for-shipment bill of lading D、order bill of lading
4、Under the trade term ( ), the time of shipment is not equal to the time of delivery. A、FOB B、DAP C、CIF D、CFR
5、Which one of the following cases is partial shipments. ( ) A、Goods are shiped by the same ship to the single destination. B、Goods in the same sales contract are shipped by different ships on the same day and to the same destination. C、Unloading from one means of conveyance and reloading to another means of conveyance during the carriage from the place of dispatch to the place of final destination. D、The same ship stops at two different ports to load goods for the same sale contract before the ship sails to the final destination.
6、A bill of lading is ( ) when its date of shipment is earlier than the actual time of shipment. A、stale B/L B、original B/L C、ante-dated B/L D、straight B/L E、order B/L
7、( ) normally has regular scheduled departures, specified routs and comparatively fixed freight rates. A、liner transport B、voyage charter C、time charter D、air transport
8、In international cargo transportation, the most widely adopted bill of lading is ( ). A、order bill of lading B、straight bill of lading C、unclean bill of lading D、on deck bill of lading
9、A "freight prepaid" B/L is acceptable to the seller when the contract is based on ( ） A、CFR B、FOB C、FCA D、EXW
10、"Freight to collect" B/L is acceptable to the buyer when the contract is based on ( ). A、DAP B、FOB C、CIF D、CFR
11、An order B/L with blank endorsement is a B/L showing( ) A、neither the name of consignee nor the name of transferee B、neither the name of consignee nor the name of transferor C、both the name of consignee and the name of transferor D、both the name of consignee and the name of transferee
12、In liner freight list, “W” refers to ( ). A、freight based on weight ton B、freight based on per unit C、freight based on measurement ton D、freight based on value
13、In DDP contracts, a reasonable order for latest time of shipment and latest time of delivery is ( ). A、May 1'st and June 1'st B、June 1'st and June 1'st C、May1'st and May 1'st D、June 1'st and May 1'st
14、When carrier receives the goods, but not to load, carrier will issue ( ) A、receiving for shipment B/L B、straight B/L C、open B/L D、liner B/L
15、The B/L presented to the consignee or buyer or his bank after the stipulated date of presentation or after the goods are due at the port of destination is a ( ). A、stale B/L B、confirmed B/L C、ante-dated B/L D、straight B/L
16、The shipper using liner service must pay for loading and unloading charges in addition to freight he pays to the shipping company.
17、In the case of voyage chartering, when lay days are saved because loading finishes earlier, the charterer pays dispatch money to the ship owner.
18、Sea waybill is a simplified version of the bill of lading, therefore it also works as a document of title to goods.
19、Issuing an ante-dated bill of lading is a fraud and will impose very high risk to the shippers and ship owners. But issuing an advanced bill of lading is a generally accepted practice in trade business because it is less risky than issuing an ante-dated bill of lading.
20、Under CFR and FOB trade terms, the time of shipment is equal to the time of delivery.
21、According to the UCP 600, shipping goods by different ships, but the ships departure on the same day and head to the same destination is NOT considered to be partial shipments.
22、For terms marked with “W/M” (standard of calculating liner’s basic freight), the freight is to be calculated on the basis of either weight ton or measurement ton, subject to the higher rate.
23、Air Way Bill, Rail Way Bill, or B/L could be negotiated or transferred because all of them are documents of title to the goods.
24、UCP 600 stipulates that partial shipment and transshipment are allowed unless it is stipulated otherwise.
25、A clean B/L is issued by the shipping company to the shipper to certify that the goods delivered are in apparent good condition.
26、A bill of lading is a straight B/L when it states a particular party as the consignee.
27、When the ship-owner speeds up his ship and arrives at the destination at an earlier date than stipulated, he can obtain dispatch money from the charterer.
28、When the charterer fails to load or unload the goods within the stipulated period of time, he has to pay demurrage to the ship-owner.
Calculation
1、A Chinese company signed a sales contract with a British importer for exporting goods from Qingdao to London. They quote: USD50 per Carton FOB Qingdao. But the businessman in UK requires CFRC5% London. To meet his requirement, how much should we offer then? The gross weight of each carton is 14kg. The dimensions of each carton is 30cm*25cm*20cm. The basis for canned fruits is W/M . The basic freight rate is USD$100 per freight ton and bunker adjustment factor is 20 % of the basic freight rate.
Chapter Six Insurance
Test for International Cargo Insurance
1、Which event listed below is NOT a general extraneous risk? ( ) A、Rain B、Fire C、Leakage D、Hooking
2、General average is caused by ( ). A、The intentional act or fault of the insured B、Deliberate measures to protect the common interest C、The perils of the sea D、Deliberate damage to the subject-matter insured
3、FPA generally does not compensate ( ). A、Partial loss only caused by natural calamities B、Actual total loss caused by natural calamities C、Costs of salvaging D、Partial loss caused by fortuitous accidents
4、Which one of the following risks can be independently insured with an insurance policy of CIC? ( ) A、General extraneous risks B、War risks C、All Risks D、Strike risks
5、The insured amount is usually the CIF price plus ( ) % of CIF price. A、2 B、10 C、50 D、110
6、Perils of the sea, such as vessel being stranded or grounded, covered in an insurance policy is one kind of ( ). A、natural calamities B、fortuitous accident C、general extraneous risks D、special extraneous risks
7、According to Ocean Marine Clauses of the People’s Insurance Company of China, the coverage which cannot be effected independently is ( ). A、FPA B、WPA C、All Risks D、War Risks
8、Under ( ) coverage of London Institute Cargo Clauses, only major accidents are covered, but not natural calamities. A、ICC(A) B、ICC(B) C、ICC(C) D、Institute War Clauses (Cargo) E、Institute Strikes Clauses (Cargo)
9、General extraneous risks does NOT includes( ) A、ship missing B、fresh water and rain damage C、shortage D、theft, pilferage and non-delivery of cargo
10、Under ICC insurance clauses, ( ) can NOT be covered independently. A、Malicious Damage Clauses B、ICC(A) C、Institute War Clauses D、ICC(B)
11、A fire broke out during a ship’s transit. The captain ordered his crew to pour water on the fire. Part of paper was burned, and all the cotton was wet. Then, what were the natures of the respective losses for paper and cotton? ( ). A、Particular Average/ General Average B、Particular Average/ Particular Average C、General Average/ General Average D、General Average/ Particular Average
12、The commencement and termination of ( ) are NOT usually stipulated by adopting the "W/W" clause under CIC.（ ) A、War risk B、FPA C、WPA D、Strike risk
13、Company A exported a batch of tea. The tea suffered heavy storm in transit. The sea water in the ship,s hold led to the deterioration in the quality of part of the tea. This kind of loss is ( ) A、particular average B、actual total loss C、constructive total loss D、general average
14、According to CIC，the basic coverage that is the least extensive is ( ) A、FPA B、WPA C、ALL RISKS D、WAR RISK
15、The coverage of ICC(A) is equivalent to that of ( ). A、All risks B、FPA C、WPA D、Additional Risks
16、Perils of the sea, such as heavy weather, tsunami, earthquake covered in an insurance policy is one kind of ( ). A、natural calamity B、fortuitous accident C、general extraneous risk D、special extraneous risk
17、If a company exports a batch of goods on the basis of CIF, which insurance coverage is suitable? ( ) A、W.P.A.+War risks B、All Risks+Fresh Water and Rain Damage+W.P.A C、T.P.N.D.+War risks+Strike risks D、F.P.A.+All risks+War risks
18、Particular average is borne exclusively by the party upon whom the damage falls.
19、General average should be contributed among all parties benefited from the deliberate measures equally.
20、Natural calamities include heavy weather, thunder storm and lightening, flood, earthquake and fire etc.
21、Warehouse to warehouse clause is a part of shipping contract referring to carrier shipping goods from the shipper’s warehouse to the consignee’s warehouse.
22、According to Ocean Marine Cargo Clauses, the insured shall take reasonable measures in salvaging the goods.
23、In addition to the coverage of FPA, WPA also covers partial loss caused by natural calamities.
24、In terms of risk coverage, ICC (A) corresponds to FPA of China Insurance Clauses.
25、Under FOB, CFR, FCA and CPT trade terms, the buyer is to arrange insurance and pay premium.
26、Insured amount is usually calculated on the basis of the CIF invoice value plus 10% as anticipated profit for the buyer or compensation for trouble and time.
27、The war risks both under CIC and ICC can be covered independently.
28、ICC (C) has the widest coverage among all ICC insurance clauses.
29、Special additional insurance coverage such as war risk, strike risk must be taken out together with FPA, WPA, All risks.
Chapter Seven Payment I: Payment Instruments
Test for Payment Instruments
1、Which instrument is the most widely used one in international settlement? A、cash B、check C、promissory note D、bill of exchange
2、Which is the most secure way for the importer to make payment? A、Cash in advance B、Letter of Credit C、Open account D、Documentary collection
3、A check is drawn by a bank.
4、A bill of exchange is a conditional order in writing.
5、"Dishonor" only means the refusal to the payment of a draft.
6、The payer of a banker's draft is a bank while the payer of a commercial draft is a company.
7、Dishonor entitles the holder to the rights of recourse.
Chapter Seven Payment II: Payment Modes
Test for Payment Modes
1、The bill of exchange used in D/A must be a ( ). A、sight draft B、banker's draft C、banker acceptance draft D、time draft
2、If there is no special provision, the draft under a letter of credit should draw on the ( ). A、advising bank B、Issuing bank C、negotiating bank D、applicant
3、The draft used in collection is ( ). A、a banker's draft based on bank credit B、a commercial draft based on bank credit C、a banker's draft based on commercial credit D、a commercial draft based on commercial credit
4、If a bank other than the issuing bank guarantees the payment under an L/C, this L/C is a/an ( ). A、confirmed credit B、irrevocable credit C、non-transferable credit D、negotiable credit
5、In L/C settlement, the obligation of the advising bank is ( ) A、to notify the seller of the arrival of the L/C B、to issue the L/C upon the application of the importer C、to buy a documentary draft D、to make actual payment
6、( ) credit is normally used in processing trade. A、reciprocal B、back to back C、revolving D、transferable
7、Which is the most secure way for the exporter to make payment? A、Payment in advance B、D/P C、D/A D、O/A
8、Among the three modes of payment-----L/C, D/P and D/A，in terms of the risk, from the point of the seller, the correct order is( ). A、L/C < D/P < D/A B、L/C > D/P > D/A C、L/C < D/A < D/P D、L/C > D/A > D/P
9、The following methods of payment are based on commercial credit EXCEPT ( ). A、L/C B、M/T C、D/A D、D/P
10、Which of the following payment modes are based on commercial credit? A、T/T B、D/D C、D/A D、D/P
11、Bankers take no undertaking of payment in collection.
12、If a credit is subject to UCP 600 and doesn't indicate whether it is irrevocable or not, it is a revocable L/C.
13、If the remittance is made by a banker's demand draft, this payment is based on bank credit.
14、For a confirmed credit, the confirming bank holds the same liability as the issuing bank.
15、Under collection, though the seller collects payment through banks, it is not guaranteed that he will receive the money as collection is still based on commercial credit.
16、According to UCP600, a letter of credit which does not indicate whether it is transferable or not would be considered as transferable.
17、L/C is an unconditional undertaking of the issuing bank to make payment in complying presentation.
18、In international trade, documentary collection is more frequently used than clean collection.
19、Dishonor only refers to the rejection to the presentation for payment.
20、In L/C, the advising bank is responsible for examining the documents presented by the beneficiary.
21、Under Collection, D/P is more beneficial than D/A for the seller.
case study about L/C
1、Case study 1: An exporter signed with a foreign company a sales contract covering 10 M/Ts of commodity B. The unit price is UDS3000 per M/T. The L/C amounts to USD 30,000. As stipulated in the contract, the seller has the option to load 3% more or less than the quantity stipulated. Actually, the seller loaded 10.2 M/Ts and drew a draft for USD30,600. Q: According to UCP600, when the seller presented documents for negotiation, would the negotiating bank accept or not? Why?
2、Case study 2: A Chinese Export Company sold a batch of goods to a foreign trader on the basis of CIF New York and L/C. Our Export Company loaded the goods on board the vessel at the port of Shanghai during the shipment period stipulated in L/C and insured the goods with the insurance company against all risk before shipment. In additon, the export Company obtained full set qualified documents. However, after the shipment was completed shortly , the ship caught fire, blew up and sank. All the goods were lost. When the foreigner knew the news, he refused to pay. Question: Could the export company get payment? Why? Explain the reason according to lncoterms 2020 and UCP600 respectively.
Chapter Nine Claims and Settlement
Test for Claims and Settlement
1、In terms of place of commodity inspection, a fair arrangement for both the exporter and the importer is (). A、Inspection at the port of shipment B、Inspection at the port of destination C、Inspection at the transit port D、Inspection at the port of shipment and re-inspection at the port of destination
2、Which one of the following events/accidents is a force majeure event? () A、Commodity price fluctuation B、market risk C、Governmental prohibition of import/export of certain commodities D、Exchange rate variation
3、One of the following conditions is NOT required for the constitution of a force majeure event, it is ( ). A、Events or circumstance must be unforeseeable at the time of concluding of the contract. B、Event is beyond the control of affected party. C、Event is not caused by any default or negligence of affected party. D、Event causes substantial damage of the subject matter of the sales contract.
4、Which one of the following items is NOT an element of force majeure? ( ) A、Commodity price fluctuation B、Earthquake C、Heavy snow D、War
5、Award on a trade dispute issued by an arbitration institute is ( ). A、binding B、non-binding if the losing party does not agree with the award C、non-binding D、binding only after the case is reviewed by the court of law
6、When a force majeure event occurs, it will ultimately lead to the termination of the contract.
7、The arbitral award is final and binding. Usually it cannot be challenged in the court of law.
8、Force Majeure events should be verified with a certificate issued by a reputable institute specified in the clause.
Chapter Two Business Negotiation
2.2 Inquiry and Offer (3 Videos: 1'54'', 8'27'', 4'33'')随堂测验
1、When will an offer become effective? A、when it is dispatched B、when it reaches the offeree C、when it is withdrawn D、when it is revoked
2、An effective offer should A、be addressed to one or more specific persons B、be sufficiently definite C、include the intention to be bound in case of acceptance D、include a validity
3、Any offer could be withdrawn if the withdrawal reaches the offeree before or at the same time as the offer.
Test for business negotiation
1、A foreign buyer cabled “offer dated 10 Aug. accepted, if 5% commission included”. This is a/an ( ). A、counter offer B、offer C、inquiry D、acceptance
2、According to CISG, a contract can be established when ( ) A、an acceptance becomes effective B、both seller and buyer sign on a written contract C、the contract is approved by authorities D、an offer reaches the offeree
3、A message bearing the content as ".....have the intention to purchase 1000 gross 'black girl' toothpaste, please quote us the best price and the earliest shipment time" is called ( )（ A、inquiry B、offer C、counter offer D、acceptance
4、when the offeree makes modification to ( ), his reply may not be seen as a counter-offer. A、packing B、price C、quantity D、quality
5、According to CISG, Which of the following statements is true for an effective offer? A、It must be sufficiently definite to include description of commodity, quantity, price, payment, shipment and insurance, etc B、An offer must be a proposal for concluding a contract C、It must be addressed to specific person(s). D、It should indicate the offeror's intention to be bound in case of acceptance.
6、If an effective offer is accepted unconditionally, a contract can be achieved.
7、Offer and counter offer are two essential steps in international trade negotiation.
8、Any offer can be withdrawn if the withdrawal reaches the offeree before an acceptance is dispatched.
9、A counter offer terminates the offer and is a new offer.
10、A late acceptance must be invalid and have no binding on the offeror.
11、An acceptance can be revoked after it becomes effective.
Mid-term Exam
期中测试
1、The L/C stipulates that price: USD300 per M/T, quantity: 50 M/T 10% more or less, amount: USD15000. According to UCP600, the seller can delivery ( ) at most. A、40 M/T B、45 M/T C、50 M/T D、55 M/T
2、If the parties to a sales contract do not in advance agree upon whether the quantity of goods is determined by gross weight or net weight, According to CISG, it will be determined by ( ). A、gross for net B、net weight C、tare weight D、gross weight
3、Company A exported a batch of tea. The tea suffered heavy storm in transit. The sea water in the ship,s hold led to the deterioration in the quality of part of the tea. This kind of loss is ( ). A、particular average B、actual total loss C、constructive total loss D、general average
4、A bill of lading is ( ） when its date of shipment is indicated earlier than the actual time of shipment. A、advanced B/L B、stale B/L C、straight B/L D、order B/L
5、When carrier receives the goods, but not to load, carrier will issue ( )（ A、receiving for shipment B/L B、straight B/L C、open B/L D、on board B/L
6、According to the classification of consignee in international trade, the most frequently used B/L is ( ) A、order B/L B、straight B/L C、open B/L D、liner B/L
7、In liner freight list, “W” refers to ( ). A、freight based on weight ton B、freight based on per unit C、freight based on measurement ton D、freight based on value
8、"Freight to collect" B/L is acceptable to the buyer when the contract is based on ( ). A、FOB B、CIF C、CPT D、DAP
9、( ) normally has regular scheduled departures, specified routs and comparatively fixed freight rates. A、liner transport B、voyage charter C、time charter D、air transport
10、Company A in Nanjing wants to import goods from company B in Tokyo Japan. Which one of the following quotations is correct? ( ) A、USD 55.00 PER PIECE CIP NANJING B、USD 55.00 PER PIECE CIF TOKYO C、USD 55.00 PER PIECE FOBC3% NANJING D、USD 55.00 PER PIECE FAS NANJING
11、On the basis of CIF subject to INCOTERMS 2020, if the goods get loose from the hook and fall into the sea during the loading stage, ( ) should be liable for the loss. A、the seller B、both the seller and buyer C、the carrier D、the buyer
12、Among all the trade terms in INCOTERMS 2020, ( ) imposes the minimum obligation and cost to the buyer. A、EXW B、FOB C、DAP D、DDP
13、Perils of the sea, such as vessel being stranded or grounded covered in an insurance policy is one kind of ( ). A、fortuitous accident B、natural calamity C、general extraneous risk D、special extraneous risk
14、Which of the following is used for China's export price? A、FCA Pudong airport,Shanghai,China B、CPT Pudong airport,Shanghai,China C、CIP Brussels airport,Belgium D、CIF Qingdao, China E、EXW Jinan, China
15、As per Incoterms 2010, under ( ) term,the buyer should be responsible for import custom clearance. A、EXW B、FOB C、CPT D、DPU E、DDP
16、In the following unit prices quoted by Chinese export enterprises, ( )are wrong. A、JPY 50.00 per pair FOBC5% B、USD 500.00 per M/T New York C、CAD 89.00 per piece CFR Shanghai D、EUR 136.00 per dozen FOB Qingdao
17、Which of the following bill of ladings will NOT be accepted by the bank and the buyer? ( ) A、order B/L B、copy B/L C、unclean B/L D、receiving for shipment B/L E、straight B/L
18、According to INCOTERMS 2020, the following terms are applicable to any mode of transport ( ) A、EXW B、FAS C、CIP D、DAP E、CFR
19、If the seller delivers goods with quantity greater than that stipulated in the contract, according to CISG, the buyer may take delivery or refuse to take delivery of all the goods.
20、International trade customs/rules is widely used in international trade; it has no binding force on the seller and buyer.
21、CIF requires the seller to bear the main costs of carriage and risk during the transport.
22、FCA and CPT have one thing in common that the seller delivers when the goods are handed over to the carrier nominated by the buyer.
23、All marks on the shipping packages are officially termed as "shipping marks"
24、Both DPU and DAP should be followed by named places of destination.
25、All the terms in terms of 2020 starting with "D" are arrival contract terms and they all indicate actual delivery.
26、Under CFR and FOB trade terms, the time of shipment is equal to the time of delivery.
27、According to the UCP 600, shipping goods by different ships, but the ships departure on the same day and head to the same destination is considered to be partial shipments.
28、Natural calamities include heavy weather, thunder storm and lightening, flood, earthquake and typhoon etc.
29、In the case of voyage charter, when lay days are saved because loading finishes earlier, the charterer pays dispatch money to the ship owner.
30、A bill of lading is a straight B/L when it states a particular party as the consignee.
31、The shipper using liner service must pay for loading and unloading charges in addition to freight he pays to the shipping company.
32、The contract stipulates the quality of China Northeast Soybean as follows: Moisture 15%; Imperfect granules 7%; oil content 17%. It is very specific and acceptable.
33、According to the INCOTERMS2020，under CIF and CIP terms, the seller should take out insurance on the minimum cover.
34、According to the INCOTERMS2020，under CIP the seller delivers when the goods arrive at the named place of destination.
Final Exam
《国际贸易实务》（双语）期末考试客观题
1、As per Incoterms 2020, under ( ) term, the seller should be responsible for import custom clearance. A、EXW B、FAS C、DDP D、DAP
2、Which one of the following bill of lading will NOT be accepted by the bank for negotiation in a letter of credit transaction. A、clean B/L B、To order B/L C、Advanced B/L D、Original B/L
3、Which is the most secure way for the exporter to make payment? A、Payment in advance B、D/A C、Open account D、D/P
4、Which of the following prices is quoted for China's import? A、USD 15.00 per set CIF Shanghai B、USD 15.00 per set CIF Antwerp C、USD 15.00 per set FOB Shanghai D、USD 15.00 per set CPT Antwerp
5、Which of the following price is correct for international quotation? A、USD 150.00 per M/T CIF Antwerp B、$150.00 per Ton C、USD 150.00 per Ton D、$ 150.00 CIF Antwerp
6、INCOTERMS 2020 requires the seller to handle the export customs clearance except under ( ). A、EXW B、FCA C、DAT D、DDP
7、Which instrument is the most widely used one in international settlement? A、bill of exchange B、cash C、check D、promissory note
8、If there is no special provision, the draft under a letter of credit should draw on the ( ). A、issuing bank B、advising bank C、negotiating bank D、applicant
9、If a bank other than the issuing bank guarantees the payment under an L/C, this L/C is a/an ( ). A、confirmed credit B、irrevocable credit C、non-transferable credit D、negotiable credit
10、Under the trade term ( ), the time of shipment is not equal to the time of delivery. A、DAP B、FOB C、CIF D、CFR
11、Which event listed below is NOT a general extraneous risk? ( ) A、Fire B、Rain C、Leakage D、Hooking
12、The most commonly adopted way of stipulating weight in international trade contract is ( ). A、net weight B、gross weight C、theoretical weight D、tare weight
13、Sale by seller’s sample is applicable to ( ) most. A、wheat B、electric machine C、mineral ore D、toys
14、A "freight prepaid B/L” is applicable when the contract is based on ( ). A、EXW B、FOB C、FCA D、CFR
15、A bill of lading is ( ) when its date of shipment is indicated earlier than the actual time of shipment. A、stale B/L B、on-deck B/L C、ante-dated B/L D、straight B/L
16、If a company exports a batch of goods , which insurance coverage is suitable? ( ) A、W.P.A. + Shortage risks B、All Risks + leakage risks C、War risks+ Strike risks D、F.P.A. + All risks+ War risks
17、According to CIC, the coverage which cannot be covered independently is ( ). A、FPA B、WPA C、All risk D、War risk
18、( ) are NOT on the basis of commercial credit. A、M/T B、L/C C、D/P D、D/D
19、Return sample can also be called ( ). A、sealed sample B、counter sample C、duplicate sample D、reference sample
20、A foreign buyer cabled that “We are interested in your XX (commodity), please offer”. This is a/an( ). A、inquiry B、offer C、counter off D、acceptance
21、According to the CISG, a contract can be established when ( ). A、an acceptance becomes effective B、both seller and buyer sign on a written contract C、the contract is approved by authorities D、an offer reaches the offeree
22、The commencement and termination of ( ) are used for "W/W" clause under CIC. A、FPA B、WPA C、War Risk D、All Risks
23、Under ( ) terms, there are two critical points, the place of transfer of risk and the place of transfer of expenses is different. A、EXW B、FCA C、CPT D、CIP
24、Which of the following prices can be quoted for China’s export? A、USD 15.00 per set CIF Shanghai B、EUR 15.00 per set FOB Antwerp C、USD 15.00 per set CIF Antwerp D、USD 15.00 per set DPU Antwerp E、USD 15.00 per set FCA Shanghai
25、Which of the following events/accidents are NOT force majeure events? ( ) A、Governmental prohibition of import B、Commodity price fluctuation C、Change of shipping schedule D、Exchange rate variation E、COVID-19
26、The acceptance with material alterations will be deemed as a rejection of the offer, material alterations refer to the modifications of terms of ( ). A、quality B、quantity C、price D、payment
27、If a contract is concluded on CIF term, Incoterms 2020 is undoubtedly applicable even when the contract does not indicate to this effect.
28、In accordance with the international practice, unless the contract stipulates otherwise, the more or less part will be priced at the contract rate.
29、Sea waybill is a simplified version of the bill of lading, therefore it also works as a document of title to goods.
30、According to the UCP 600, shipping goods by different ships, but the ships departure on the same day and head to the same destination is NOT considered to be partial shipments.
31、In terms of risk coverage, ICC (A) corresponds to FPA of China Insurance Clauses.
32、All the terms starting with a “C” require the seller to bear the main costs of carriage and risk during the transport.
33、Dispatch money and demurrage are usually stipulated in Time Charter Party.
34、Liner freight has covered the loading and unloading fee.
35、Air Way Bill, Rail Way Bill, or B/L could be negotiated or transferred because all of them are documents of title to the goods.
36、Offer and counter offer are two essential steps in international trade negotiation.
37、International trade rules/practice may have binding force on the contract parties when the contract stipulates the application of the trade practice.
38、When the ship-owner speeds up its ship and arrives at the destination at an earlier date than stipulated, he can obtain dispatch money from the charterer.
39、Since straight B/L bears higher risk than the bearer B/L, it is rarely used in international transportation.
40、Remittance provides highest security to the buyer but not the seller.
41、The arbitral award is final and binding upon both disputing parties.
42、According to the Incoterms®2020 under DPU the seller is responsible for unloading the goods from the arriving vehicle at the place of destination.