QUIZ ASSIGNMENT

Quiz Assignment



1. The key elements of the Proforma Invoice include all of the following except:

a. Product description and specifications b. Shipper's export declaration

c. Quantity and price d. Delivery terms

2. Indicate which of the following is NOT one of the CCL General Commodity Categories:

a. Nuclear materials, facilities, and equipment b. Lasers and sensors

c. Electronics d. All of the above are a CCL General Commodity Category

3. Indicate which of the following is not a CCL Reason for Control:

a. Encryption Item b. Chemical and Biological Weapon c. Item is subject to exclusive export control jurisdiction of another government agency d. Short Supply

4. Product is sold “CIF”. The ship has arrived at the port of destination and the importer has cleared the goods and transported them to the warehouse. There is a fire in the warehouse and the entire order is destroyed. Who is at risk for the product?

a. Exporterb. Importer

5. All of the following are true of a Freight Forwarder representing the exporter/seller except:

a. They make arrangements to pay custom duties. b. They process document related to shipments. c. They often have a Power of Attorney for the exporter. d. They make arrangements for the shipment of goods on behalf of the exporter.

6. All of the following are true about Bills of Lading except:

a. Bills of Lading are better understood as Bills of “Loading”.

b. They are issued by the transportation carriers as evidence the shipment has been received.

c. It is not a criminal offense to make, alter, negotiate, or transfer a Bill of Lading with intent to defraud.

d. Separate Bills of Lading may be issued for inland, air, and ocean shipments.

Refer to the Commercial Invoice at the end of this exam to answer questions #7-9. Indicate where on the Commercial Invoice the following is included:

7. The exporter is Medical Imaging Minnesota, Inc.

a. #1 b. #2 c. #14 d. #14

8. The terms of payment are Letter of Credit.

a. #15 b. #12 c. #6 d. #11

9. Where is the cost of the ocean freight to ship the product?

a. #10 b. #11 c. #12 d. #15

10. All of the following are true regarding a Commercial Invoice except:

a. This document is a bill for the goods from the seller to the buyer.

b. The invoice is often used by governments to determine the true value of goods.

c. The document is prepared by the steamship company with information provided by the exporter or freight forwarder.

d. The document contains the place of delivery, quantities of each product, and sale price.

11. All of the following are true regarding the Certificate of Origin except:

a. This is a document required by many countries.

b. It is a signed statement stating the origin of the export item.

c. A semiofficial organization is usually required to sign the document, such as a local Chamber of Commerce.

d. A Certificate of Origin is never required if the Commercial Invoice already contains

the information.

Refer to the Certificate of Origin at the end of this exam to answer questions ...