Transportation Operations - Learning Block 7 Practice Questions

Question 1

Together, which two sectors dominate global trade?

Answer 1

Air, Ocean

Question 2

A court is trying to decide the ownership of goods. Which document is the court most likely to rely on to prove ownership?

Answer 2

Bill-of-lading

Question 3

In international trade and transportation, international commercial terms are necessary to:

Answer 3

Prevent confusion and unnecessary litigation

Question 4

The terms of trade are delivered at place to the Port of Seattle (origin: New York) for a particular shipment of goods, and the forklift operator damages the goods while unloading them from the ship. Who bears the liability for the damaged goods?

Answer 4

Buyer

Question 5

With freight on board terms, when does the ownership of goods transfer to the buyer?

Answer 5

When goods are placed on ship designated by the buyer

Question 6

When using cost, insurance, freight terms, which of the answer choices do not apply?

Answer 6

Seller pays for transportation costs after goods reach destination

Question 7

If the buyer and seller are independently verifying the quality of the goods, the buyer would insist on a:

Answer 7

Certificate of inspection

Question 8

The liability for and ownership of goods pass from the seller to the buyer in which of the 11 international commercial terms?

Answer 8

All 11

Question 9

The Bill-of-Lading, also known as an air waybill, does not establish:

Answer 9

Transportation costs

Question 10

The U.S. gives preferential tariffs to clothes manufactured in Panama. Which document would an importer in the U.S. request from an exporter to take advantage of lower tariffs for shirts from Panama?

Answer 10

Certificate of origin