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If either party is prevented from, or delayed in, performing any duty under this Contract by an event beyond his reasonable control, then this event shall be deemed force majeure…... If

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Choose the most suitable answer:

1 Many export contracts cannot come into force due to:

A certain preconditions are not met B force majeure C late delivery

2 The delivery depends on

A Date of execution B effective date C preconditions

3 Some contracts set a cut-off date after which the contract

A is binding B is effective C cannot come into force

4 A grace period is sometimes used to

A avoid penalty B facilitate early delivery C avoid liquidated damages

5 If the force majeure event continues for too long, both parties have the right to

A continue the contract B terminate the contract C make late delivery

6 The lump-sum compensation is set too high

7 The lump-sum compensation is set about right

8 The lump-sum compensation is set too low

9 A penalty is not enforceable in

A continental law B Anglo-American law C civil law

10 The exporter should have no liability for the goods when they are

11 The place of delivery is doubly important to the exporter because the date of

……….normally depends on time and place of delivery

12 The place of delivery should not be confused with the …………of the goods.

A departure B destination C transshipment

13 Delivery of the goods under most export contracts takes place in the country of ………

A the importer B the exporter C the agent

14 CIF and CIP contracts are especially confusing since they name the point of ………

15 If either party is prevented from, or delayed in, performing any duty under this Contract by an event beyond his reasonable control, then this event shall be deemed force majeure….

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A volcanic eruption buries the factory in ash

An annual flooding of the River Verb ruins some of the jute intended for use in making sack.

A ban is issued on the export of jute products by newly elected government that has been preparing legislation

on this subject for five years.

A ban is issued on the export of jute products by newly elected government.

The workforce at the factory go on strike.

The dock workers in Port Verbena go on strike.

A lockout (Background: The workers have been striking for one day a week The management locks the

workers out of factory until they agree to end the strike)

Shortage of supplies (Background: The exporter cannot get the raw jute he needs from the supplier because the Central Bank will not give him foreign exchange to pay the supplier.)

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Shortage of supplies ( Background: The exporter cannot get the raw jute he needs from the supplier because of a shipping delay.)

A fire burns down the factory.

25 The cheapest mode of transport is …

26 The most expensive mode of transport is …

27 Which type of bill of lading is negotiable

28 How do you know Bill of lading is “Marine Bill of lading”?-There is a……

A on board notation B consignee C shipper

29 Bill of Lading is the most important document because it is a ………

A document of title B document of negotiation C document of freight

30 A marine Bill of Lading becomes negotiable document and no restriction on ownership when it is ……….

A to order, blank endorsed

B surrendered, blank endorsement

C.to order, endorsed

31 …… original(s) Bill of lading constitute(s) a full set.

32 …… Bill of Lading – goods were taken on board in good condition.

33 …… Bill of lading – found something wrong with the consignment

34 War risk is not included in …….

35 “ Minimum Coverage” is the so-called Cargo Clause ……

36 The disadvantage of ……… policy is that it is set up for particular time and automatically expires.

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A tailor-made B floating C open cover

37 ……… is open-ended.

38 All risks covered is under ……… clause

39 The clause covers General Average

40 A contract requiring the exporter to send the contract goods by road from Kenya to Zambia with freight paid by the exporter.

A CFR Lusaka

B CPT Lusaka

C CFR Nairobi

41 A contract requiring an exporter in Mozambique to deliver the contract goods in Beira, Mozambique, for the shipment by sea to Dar es Salaam, Tanzania.

A FAS Beira

B CIF Beira

C FOB Dar es Salaam

42 A contract requiring an exporter in Ethiopia to send the contract goods by air for delivery in Windhoek, Namibia.

A CIF Windhoek

B CIP Windhoek

C DEQ Windhoek

43 . If the price is quoted CIF San Francisco, who pays for the insurance and freight?

A The exporter

B The buyer

C The forwarding agent

D The confirming bank

44.If the price is quoted FOB Singapore, who pays for the insurance and freight?

A The exporter

B The buyer

45.If the price is quoted FOB Singapore, then the seller is not obliged to pay insurance and freight Right or wrong?

A Completely right

B Wrong

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C Partly right, as the seller is obliged to pay only the freight and insurance necessary to put the goods on board of the designated vessel by the buyer

D Completely wrong, because the buyer is obliged to pay for insurance and freight on his own account if term

of trade is FOB

46.When are documents considered to be stale?

A When they reach the issuing bank too late

B When they are submitted to the opening bank after the merchandise has already arrived

C When they reach the advising bank at the expiration of the letter of credit

D When they are refused by the issuing bank

47 If the price is quoted EXW, who pays for the freight?

A The exporter

B The buyer

D The advising bank

48.If the price is quoted CPT Vancouver, who pays for the freight?

A The exporter

B The forwarding agent

C The buyer

49.If the price is quoted FCA, who pays for the freight?

A The exporter

B The carrier

C The buyer

D The forwarding agent

50.If the price is quoted CIP Marseille, who pays for the insurance and freight?

A The buyer

B The exporter

C The issuing bank

51.If the price is quoted FAS Osaka., who pays for the freight?

A The shipper

B The exporter

D The buyer

52.If the price is quoted CFR Hai Phong, who pays for the freight?

A The buyer

B The exporter

C The carrier

53.The bill of lading issued by the carrier for sea transport is called ……

A Seaway bill

B Ocean bill

C Sea waybill

54.The bill of lading issued by the carrier for air transport is called ……

A Air waybill

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B Air bill of lading.

C Airway bill of lading

D Airway bill

55.The bill of lading issued by the carrier for rail transport is called ……

A Railway bill

B Rail waybill

C Railway consignment note

D Railway bill of lading

56.The bill of lading issued by the carrier for road transport is called ……

A Road bill of lading

B Road bill

C Roadway bill

D Road consignment note

57.The bill of lading issued by the carrier for combined transport is called ……

A Combined bill of lading

B Combined bill

C Combined transportation bill of lading

D Combined transport bill of lading

58.If alternative means of transport or partial shipments are allowed perhaps by different modes of transport, the letter of credit should have the words ……… between the names of transport documents

A and

B or

C and/or

D Either B or C

59.Is there any requirement that the air waybill shows the date of the flight?

A No, there isn’t

B Yes, there is

C Never is there such a requirement

D No, it is an incorrect requirement because a correctly completed waybill cannot show this information

60.If shipment is under Incoterms other than CIF or CIP, ………

A The buyer has to arrange the insurance cover by himself

B The buyer may still ask the exporter to arrange some aspects of the insurance for him

C The exporter has to arrange the insurance cover for the goods

D The exporter pays for insurance till the port of discharge

61.Unless the letter of credit states otherwise, insurance coverage on a CIF or CIP shipment must be for

……… of the CIF (or CIP) value of the goods

A 100%

B 90%

C 50%

D 110%

62.Beside the commercial invoice, the transport document and insurance document, what do ‘Other

documents’ include?

A A Certificate of Origin

B A Certificate of Inspection

C A health Inspection

D Any of the above

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63.Why is the Certificate of Origin required?

A Because the goods imported are under a preferential tariff or other agreement

B Because the exporter has to prove that his exported goods are legal

C Because the exporter has to show his proof of paying tax to the customs in the buyer’s country

D Because it is one of the key requirements under the letter of credit’s terms

64.Which of the following is NOT considered to be special requirement in a sale/purchase contract?

A Containers are required to be fumigated before shipment

B Upgraded packaging materials

C Goods must be packed according to export standards

D Health inspection for foodstuffs

65.The Incoterm ……… contains 13 terms

A 1990

B 2000

C 2010

D 1990 and 2000

66.The Incoterm ……… contains 11 terms

A 1990

B 2000

C 2010

67. The point of delivery is much the same for all ………… terms and ………… terms – when the exporter hands the goods over to the carrier

A C and F

B D and F

C C and D

68.The contract should regulate what happens if Incoterm 2000 and the terms of the contract conflict: normally the ……… prevails

A Incoterm

B Contract

C Incoterm and contract

69. In CIF and CIP contracts, ……… must pay for insurance from the point of delivery to the named point of arrival

A The exporter

B The importer

C The carrier

70. In CIF and CIP contracts, the exporter normally assigns the insurance agreement to ………

A The buyer

B The carrier

C The issuing bank

71.Unless otherwise agreed, the insurance is “minimum cover” – cargo clause ………

A A

B B

C C

72.Open cover is not a policy: the ……… will write a policy if required

A Insurer

B Importer

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C Exporter

73.Title to the goods passes ………

A With risks

B Across the ship’s rail

C On board

74.General average has the conditions: ………

A The ship was in danger

B The captain decided to lighten the ship and the ship arrived the destination safely

C The captain decided to lighten the ship and the ship arrived the destination safely with the remaining cargo

D A and C

75.A bill of lading with the note is ………

A Clean bill of lading

B Claused bill of lading

C Clear bill of lading

76.Who issues ocean bill of lading?

A Captain

B Exporter

C Shipping company

D Agent

77. Who signs “shipped on board” notation?

A Captain

B Exporter

C Shipping company

D Agent

78.“Full set on board ocean bills of lading to order shipper, blank endorsed” In this clause shipper

means…………

A Exporter

B Importer

C Bank

D A or B or C It depends on the situation

79. “door to door service” is offered Which term should be used?

A DDP

B CIP

C CIF

80.Normally, Risks are transferred at the point of ………

A Delivery

B Payment

C Arrival

81. Two parties sign a contract

A The contract is binding

B The contract is effective

C The contract is binding and effective

82.Transfer of risk from the seller to the buyer (Incoterm 2000): EXW

A When the goods are At the seller’s premises

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B When the goods are handed to the first carrier

C When the goods across the ship’s rail

D When the goods are on board

83.Transfer of risk from the seller to the buyer (Incoterm 2000): FCA

84.Transfer of risk from the seller to the buyer (Incoterm 2000): CIP

85.Transfer of risk from the seller to the buyer (Incoterm 2000): CPT

86.Transfer of risk from the seller to the buyer (Incoterm 2000): CIF

87.Transfer of risk from the seller to the buyer (Incoterm 2000): CFR

88.Transfer of risk from the seller to the buyer (Incoterm 2000): FOB

89.Transfer of risk from the seller to the buyer (Incoterm 2000): FAS

A When the goods are ex-quay

90.Transfer of risk from the seller to the buyer (Incoterm 2000): co

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A When the goods are ex-ship

91.Transfer of risk from the seller to the buyer (Incoterm 2000): DEQ

A When the goods are ex-quay

92.Transfer of risk from the seller to the buyer (Incoterm 2000): DAF

A When the goods are at frontier

93.Transfer of risk from the seller to the buyer (Incoterm 2000): DDU

A When the goods are At the buyer’s premises

94.Transfer of risk from the seller to the buyer (Incoterm 2000): DDP

A When the goods are At the buyer’s premises

95.When the Bill of lading marked “freight prepaid” Who pays for the freight?

A The Buyer

B The Seller

C The agent

D It depends on the agreement

96.When the Bill of lading marked “freight collected” Who pays for the freight?

A The Buyer

B The Seller

C The agent

D It depends on the agreement

97.The risk of rough handling is covered under the cargo clause ………

A A

B B

C C

D A and B

98.The risk of rough handling is not covered under the cargo clause ………

A A

B B

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