Diamonds 1 — Introduction: Beyond the Essentials Flashcards
A wholesaler is someone who
A. sells to retailers. B. repairs diamond jewelry. C. grows diamonds in the lab. D. sells directly to consumers.
A. sells to retailers.
Large, high-quality diamonds are
A. sorted rather than graded. B. usually graded in their mountings. C. graded with a quick look under a loupe. D. graded much more thoroughly than small, low-quality ones.
D. graded much more thoroughly than small, low-quality ones.
An estimation of the value of an article is a(n)
A. grade. B. appraisal. C. price guide. D. insurance policy.
B. appraisal.
Reputable gem laboratories don’t grade mounted diamonds because
A. it takes too much time. B. their insurance policies don’t permit it. C. mountings hide details of clarity and cut. D. the designs of the mountings might influence their decisions.
C. mountings hide details of clarity and cut.
The diamond industry has changed dramatically in recent years because
A. demand for finished diamonds has decreased. B. the world’s supply of diamond rough has increased. C. the world’s supply of diamond rough has significantly decreased. D. environmental regulations have caused many mines to shut down.
B. the world’s supply of diamond rough has increased.
Substantial price discounts are available to retailers and jewelry manufacturers who
A. travel to diamond mines. B. can buy in large quantities. C. buy small quantities every month. D. always buy from the same supplier.
B. can buy in large quantities.
A diamond grading system provides
A. exact diamond market value to a buyer. B. a consistent way to communicate diamond quality. C. assurance to customers that they’re getting the best prices. D. diamond descriptions that can change from country to country.
B. a consistent way to communicate diamond quality.
Wholesale price lists are usually organized according to
A. recent auction prices. B. traditional jewelry-buying seasons. C. specific combinations of the Four Cs. D. sales at major diamond-trading centers.
C. specific combinations of the Four Cs.
Dealers often sort melee by size using
A. scales. B. sieves. C. templates. D. millimeter gauges.
B. sieves.
The most consistent and dependable sources of diamond grades are
A. appraisers. B. wholesalers. C. mining experts. D. reputable gemological laboratories.
D. reputable gemological laboratories.
A diamond’s clarity and color grades indicate its
A. quality. B. popularity. C. retail price. D. wholesale price.
A. quality.
The Argyle mine in Australia contributed to
A. an economic slowdown in Australia. B. the rise of the cutting industry in India. C. the decline of production in South Africa. D. the rise of the cutting industry in Australia.
B. the rise of the cutting industry in India.
Diamond’s supreme hardness and durability are
A. due to diamond’s rarity. B. a result of the conditions under which it formed. C. surpassed by laboratory-grown diamond substitutes. D. a result of millions of years of battering by the forces of nature.
B. a result of the conditions under which it formed.
Once diamond deposits are located, mining companies
A. begin extracting the diamonds. B. recover the cost of exploration within the first year. C. are exempt from taxes and environmental regulations. D. must spend additional time and money to evaluate and develop them.
D. must spend additional time and money to evaluate and develop them.
Diamond prices on wholesale price lists
A. are not negotiable. B. reflect a worldwide consensus. C. are available free on the Internet. D. depend on the market conditions that exist when the lists are published.
D. depend on the market conditions that exist when the lists are published.
