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Logistics > Final Exam > Flashcards

Final Exam Flashcards

1
Q

Which country is the largest trading partner of the USA based on combined imports and exports?

A

Canada

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2
Q

What is the term for a manufacturing facility in Mexico where products can be made and returned to the US without duty being paid?

A

Maquiladora

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3
Q

Which term of payment has the least risk to the seller/exporter?

A

Cash in Advance

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4
Q

Which term of payment has the least risk to the buyer/importer?

A

Open account

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5
Q

Which international organization has begun the freight initiative aimed at replacing paper documents?

A

International Air Transportation Association

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6
Q

What are the most common lengths for container ships?

A

20 and 40 feet

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7
Q

How many incoterms are there in the USA?

A

11

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8
Q

Which incoterm gives the seller/exporter total responsibility for the shipment?

A

DDP (Delivered Duty Paid)

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9
Q

Which incoterm gives the buyer/importer total responsibility for the shipment?

A

EXW (Ex Works)

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10
Q

Which transportation document acts as a contract of carriage?

A

Bill of Lading

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11
Q

What type of ocean transportation service travels a fixed route of a published schedule?

A

Liner Ship

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12
Q

The highest volume seaport in the world is in which country/ What is the top country in the world in vessel calls?

A

China

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13
Q

What is the highest volume cargo airport in the US?

A

Memphis

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14
Q

What two variables define the primary advantage or disadvantage when comparing asset based 3PL’s vs non asset based 3PL’s?

A

Asset Based: Control, Fixed costs

Non Asset Based: Flexibility, Variable costs

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15
Q

What are the steps of the customs clearing process in the correct sequence?

A

Entry filing, Arrival, Examination, Classification, Taxation, Release

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16
Q

What organization is responsible for establishing incoterms?

A

ICC

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17
Q

What type of service involves local transportation of containerized cargo?

A

Drayage

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18
Q

What group of 3PL’s does not own equipment and instead arrange transportation services?

A

Forwarder Bases 3PL’s

19
Q

As of 2013, the 3PL industry worldwide produced revenues at what level?

A

$704 Billion

20
Q

What is meant by the term carbon footprint?

A

CO2 Emissions

21
Q

What is the average driver cost per mile?

A

.60 per mile

22
Q

What is the difference between a finance lease and a fuel service lease when leasing a fleet of trucks?

A

FL is only for capital costs

FSL is adds services such as maintenance

23
Q

What is the #1 activity outsourced to 3PL’s?

A

Domestic Transportation

24
Q

What is at the top of the list of reasons against using 3PL services?

A

Logistics being a core competency of the company

25
Q

As operating miles increase, fixed costs per mile go in which direction?

A

Decrease

26
Q

According to the US census bureau, how many private trucks are on the road?

A

4 Million

27
Q

3PL spending as of 2013 was highest in what region of the world?

A

Asia Pacific

28
Q

Which countries are the top 3 trading partners with the US?

A

Canada, China, Mexico

29
Q

Explain the concept of transfer of ownership and why it is important.

A

It shows who is responsible for managing goods in transit

30
Q

International commercial terms that facilitate the flow of goods from importer to exporter between different countries

A

Incoterms

31
Q

Establishes free trade between US, Canada, and Mexico

A

NAFTA

32
Q

Payment after shipment is made; goods available to buyer after payment; gives the seller assurance of payments; assures shipment is made but relies on exporter to ship goods as described in documents

A

Letter of Credit

33
Q

What are the 3 primary benefits of intermodalism?

A

Facilitates global trade, greater accessibility, overall cost efficiency

34
Q

Includes goods that must be handled individually and transferred between transportation equipment multiple times; consists of bulk oriented raw materials

A

Transload Freight

35
Q

Sites within the US where foreign and domestic goods are held without time limit until they are ready to be released into international commerce

A

Foreign Trade Zone

36
Q

What is a TEU?

A

Twenty ft Equivalent Unit

37
Q

Top container liner in the world?

A

Maersk

38
Q

What is the top air carrier in the world? What are the top two that are based in the USA?

A

Amherst

FedEx and UPS

39
Q

What is the top seaport in the world?

A

Shanghai

40
Q

What mode of transportation is the most intensive user of fuel?

A

Airines

41
Q

Which mode of transportation has a fuel surcharge in contracts?

A

Trucking

42
Q

What is the top port in the USA vessel calls?

A

Houston

43
Q

Advantages and disadvantages of private trucking?

A

Advantages: improved service and lower cost
Disadvantages: higher cost if not done right

44
Q

What is a backhaul and how is this significant in private vs non private transportation?

A

Hauling cargo back from point B to original point
Private: not set up well to cary backhaul
Non-Private: going to try their best to find something to haul on the return trip

Logistics (2 decks)

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