BUSI 465 quiz 1 solutions complete answers

BUSI 465 quiz 1 solutions complete answers 

 

A world trade center brings together many kinds of businesses and governmental agencies involved in foreign trade.

 

Freight forwarders can be an exporter’s best ally in mitigating the hazards of world trade and assuring successful and profitable international transactions. One key area to consider when choosing a freight forwarder is:

 

Importers must determine the duties and taxes applicable for an import from that country, to analyze the_______________, which will allow them to determine the competitiveness of that sourcing option.

 

The future of technology will be the total integration from when a purchase order is created all the way through to the delivery to the end user, with every aspect in between those two points being done electronically.

 

Letters of credit, which are heavily used in global trade, can be transacted via automation without the need for all of the historical paperwork.

 

“Free on Board” means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered.

 

In dealing with political risk, a ___________ _____________ _____________  who can determine what coverage is needed, where a risk may be placed, and what kinds of loss control measures are needed to minimize political risk exposure is essential.

 

Some of the key issues in selecting a provider in supply chain logistics, e-commerce, or import/export management, are the following, EXCEPT:

 

In a new era of increased “compliance and security” post 9/11, ____________ offers the best strategy for mitigating risk, avoiding fines and penalties of the import process, and maintaining open inbound supply chains.

 

Importers must take all of these steps to purchase goods from foreign suppliers, EXCEPT:

 

Global supply chains can use technology in managing some of the compliance and security responsibilities. All of the following can be managed, EXCEPT:

 

An exporter who sells on terms where it does not control insurance and can sustain a financial loss because of physical loss or damage can arrange a ______________that will respond to the loss as if the exporter was insuring the cargo as a primary interest.

 

Custom-bonded warehouses (CBWs) do not provide many of the same benefits as FTZs.

 

All of the following are areas that should be reviewed thoroughly when evaluating the risk management functions of political risk before goods are shipped, EXCEPT:

 

___________ ______________ ____________ are economic free areas where goods can be inventoried without entering the commerce of the country they are in.

 

Exporters/importers are always being confronted with making shipping decisions for which the choice between air and ocean is a critical factor. Which factor(s) affect the decision-making process?

 

The U.S. Department of Commerce organizes certain overseas events to promote U.S. businesses, including the following:

 

All of the following are components of landed cost except:

 

The Small Business Administration’s (SBA’s) programs assist new and existing exporters who want to expand their operations with export information and financial assistance but does not assist with legal advice, and training.

 

Most service providers now have their own in-house _____________ _________________ __________________ as a value-add and revenue-generating option in their freight operations.

 

Match the following terms to the correct description:

authorized by customs authorities for storage of goods on which payment of duties is deferred until the goods are cleared and removed

tax on imports or the rate at which imported goods are taxed

tax imposed on imports by the customs authority of a country

ocean freight consolidator

requires most ocean carriers and consolidators to file cargo manifest data with customs electronically

 

 

Match the following terms to the correct description:

 

Special missions are organized and led by:

 

What is an import/export business?

 

NAFTA is considering expanding to include many nations of the Caribbean Basin and South America.

 

Your business plan provides a road map, but the acid test is whether it will work.

 

Business culture takes precedence over a country’s culture; it establishes the business parameters to which countries must adhere.

 

____________________ indicates that a negotiable instrument is to be paid upon presentation or demand.

 

The pro forma invoice is:

 

A ____________________________ is the routing of a container to or from anywhere in the United States from or to any port.

 

According to the U.S. Department of Commerce:

 

What are trade integrations?

 

The ________________________________ is a trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

 

What is a “Trade Show Central?”

 

Which is the world’s largest trading bloc?

 

Countries rely on each other to exchange goods, services, and ideas.

 

A ________________________________ is a simple process, recorded on paper that allows you to think through the many logical ways to reach a buyer and convince them to agree to a sale.

 

Trade missions are trips made for the express purpose of promoting and participating in international trade.

 

Patent registration is the United States protects the patented product

 

A ____________________________ moves a container that originates or terminates in a U.S. port using alternative transportation other than the one used where it enters or leaves the country.

 

It is the only international organization that deals with the rules of trades between countries.

 

Market segmentation enables an import/export organization to choose its customers and fashion its market strategy based on

 

E-commerce has grown exponentially over the last decade. Today e-commerce constitutes