1. (Choose 1 answer)
Which of the following reasons does not give rise to the termination of a contract?
A. Bankruptcy
B. Unpredictable events such as war, international conflicts
C. Change of ownership
D. Change of business name and management

2. (Choose 1 answer)
How does countertrade violate the national treatment standard of trade agreements such as GATT/WTO?
A. By taxing and regulating domestically produced goods differently from imported goods.
B. By promoting free trade principles and encouraging bilateral trading arrangements.
C. By imposing restrictions on imports that go beyond duties, taxes, or other charges.
D. By ensuring that imported goods are taxed and regulated in the same manner as domestically produced goods.

3. (Choose 1 answer)
Which of the following is the steady growth in the role of developing nations?
A. Emerging economies
B. Globalization
C. Inflation
D. Unemployment

4. (Choose 1 answer)
Under what conditions can either party typically cancel an export contract for delay or default in performance?
A. If the price escalation clause is triggered
B. If the contract specifies the applicable law
C. If the delay or default is caused by conditions beyond its control
D. If the exporter performs through an agent, branch, or subsidiary

5. (Choose 1 answer)
What is the main feature of a Documentary Collection in international trade?
A. The buyer and seller exchange funds directly without a third party.
B. The seller ships goods and provides documents to the buyer through their bank, which releases them once payment is made or a promise to pay is given.
C. The buyer must pay the full amount in advance.
D. The seller does not need to submit any documents to the bank.

6. (Choose 1 answer)
How can countertrade help companies access new markets?
A. By providing them with higher financial security.
B. By making their products available to markets with limited cash flow, increasing global reach.
C. By eliminating the need for local distributors.
D. By providing instant capital investment in their operations.

7. (Choose 1 answer)
Why might exporters be hesitant to use open account terms with overseas customers?
A. It requires prepayment by the importer.
B. There is a risk of nonpayment or default by the importer.
C. It decreases sales opportunities.
D. It necessitates the use of consignment sales.

8. (Choose 1 answer)
What is the primary consideration in cost-based export pricing?
A. Market demand
B. Variable production costs
C. Competitive pressures
D. Desired return on investment

9. (Choose 1 answer)
Which of the following is the consequence of the growing trade imbalances between nations?
A. Destabilizing capital flows.
B. Rise in merchandise trade costs.
C. Weak currencies.
D. Low savings.

10. (Choose 1 answer)
When might an exporter need a shipper's export declaration?
A. For shipments with a total cargo value exceeding $2,500
B. For shipments of any value
C. For shipments within the same country
D. For shipments of hazardous materials only

11. (Choose 1 answer)
Which system provides information on the status of export license applications?
A. AES
B. ELAIN
C. ERIC
D. STELA

12. (Choose 1 answer)
Which organization is established at the Uruguay Round with the purpose of policing the international trading system?
A. World Trade Organization
B. United Nations
C. International Monetary Fund
D. World Bank

13. (Choose 1 answer)
According to the United States' customs regulations, who may not make an entry for imported goods?
A. Owner of the goods
B. Unauthorized employee
C. Licensed customs broker
D. Purchaser of the goods

14. (Choose 1 answer)
Which of the following categories can have license exceptions?
A. GBS
B. EAR
C. STELA
D. ELAIN

15. (Choose 1 answer)
A............... is the instrument normally used in international commerce to effect payment, and it is an order written by an exporter instructing the importer, or an importer's agent, to pay a specified amount of money at a specified time.
A. Bill of exchange
B. Bill of lading
C. Air waybill
D. Insurance certificate

16. (Choose 1 answer)
Oral contract means:
A. A contract need not be concluded or evidenced in writing.
B. A contract must be concluded or evidenced in writing.
C. A contract is decided by the exporter only.
D. A contract is decided by the importer only.

17. (Choose 1 answer)
Which of the following is not an international effort to control corruption?
A. The OECD Antibribery Resolution, 1992
B. The OECD Convention on Combating Bribery, 1992
C. The ICC Rules of Conduct to Combat Extortion and Bribery, 1992 (revised in 1996)
D. Transparency International (TI)

18. (Choose 1 answer)
Which payment method guarantees that the beneficiary/exporter will be paid by the issuing bank provided that they presented a complied documents?
A. Documentary credit
B. Open account
C. Collections
D. Cash in advance

19. (Choose 1 answer)
Which of the following is not recommended when considering exporting?
A. Begin by focusing on many markets and enter those markets on a large scale
B. Hire an Export Management Company (EMC) and be prepared to commit a lot of time and effort to build relationships with foreign distributors and/or customers
C. Be prepared to hire additional personnel in the home office to oversee export operations and to hire local personnel to help the firm established itself in the foreign market
D. Learn how to avoid different types of risk in international trade

20. (Choose 1 answer)
Which of the following is the scope of Preliminary Screening for the international market assessment?
A. Financial and economic condition
B. Basic needs
C. Sociocultural
D. Political and legal

21. (Choose 1 answer)
In marginal pricing for exports, what does the export price primarily depend on?
A. Full cost and markup
B. Variable cost of producing the product
C. Competitive pricing in the market
D. Market demand

22. (Choose 1 answer)
The definition of Price is one of the major clauses in Representation Agreement, in which it states that: All sales of products are made in accordance with ______ and ______ agreed upon between the parties.
A. the price list; discount structure
B. applicable law; the price list
C. purchase of goods; the basis for renewal
D. dispute settlement; contract

23. (Choose 1 answer)
When is open account financing often utilized in international trade?
A. When trading between unrelated exporters and importers.
B. When the importer has a poor credit rating.
C. When selling to parent and subsidiary companies.
D. When the importing country has strict currency controls.

24. (Choose 1 answer)
Trade shows provide importers with the following advantages, except:
A. A variety of products to buy
B. Opportunities for personal contact
C. Information on competitors
D. Increase in trade barriers among countries

25. (Choose 1 answer)
In customs valuation, this method starts with the costs of materials, labor, and overheads in producing the imported goods. Customs then adds profits and general expenses incurred by the producer. Which method is mentioned here?
A. Computed value
B. ISM value
C. Deductive value
D. Transaction value

26. (Choose 1 answer)
A sales contract states that shipment is from Da Nang port (Vietnam), to Hamburg port (Germany). During its route, the goods will be transited in Bangkok port, Thailand. Which of the following is correct expression if the contract uses delivery term as CIF?
A. CIF Da Nang Port, Vietnam
B. CIF Bangkok Port, Thailand
C. CIF Hamburg Port, Germany
D. Both 'CIF Da Nang Port, Vietnam' and 'CIF Bangkok Port, Thailand'

27. (Choose 1 answer)
What was the primary intention behind the change from the Bureau of Export Administration (BXA) to the Bureau of Industry and Security (BIS)?
A. To expand the scope of export controls to include non-dual-use goods.
B. To promote trade agreements with countries outside the Wassenaar arrangement.
C. To reflect the connection between trade and security.
D. To streamline the process of issuing export licenses.

28. (Choose 1 answer)
In countries where exchange control restrictions are in place,.............. is quite common.
A. Countertrade
B. Exporting
C. Importing
D. Both exporting and importing

29. (Choose 1 answer)
At the Doha Round of the WTO in late 2001,
A. the WTO was established.
B. GATT was extended to include services.
C. world trade volume increased.
D. an agenda was established to phase out subsidies to agricultural producers.

30. (Choose 1 answer)
Which of the following is the private source of Export Counseling and Assistance?
A. The U.S Department of Commerce.
B. The U.S Department of Agriculture.
C. State, government, and city agencies.
D. World trade clubs.

31. (Choose 1 answer)
The scope of coverage for NAFTA does NOT include:
A. Market access for goods
B. Market access to services
C. Job generation and Job loss
D. Investment

32. (Choose 1 answer)
Examples of countertrade include which of the following?
A. Indonesia negotiated for a power station project with Asea Brown Boveri and for an air traffic control system with Hughes Aircraft.
B. Counterpurchase obligations were to be 100 percent of the FOB values.
C. Lockheed Martin agreed to sell F-16 military aircraft to Hungary in exchange for large investment and counterpurchase commitments. The firm agreed to buy $250 million (U.S.) worth of Hungarian goods.
D. Taiwan purchased 60 Mirage 2000-5 from a French aviation company, Dussault. In return, Dussault undertook a joint venture with Taiwan's aerospace company, Chenfeng, for the production of key aircraft parts and components for local aircraft and export.

33. (Choose 1 answer)
What is the purpose of the FCPA's accounting provisions?
A. To regulate the financial practices of foreign companies.
B. To prevent companies from escaping detection by maintaining dubious accounts or slush funds.
C. To promote transparency in the financial reporting of U.S. companies.
D. To establish standards for corporate governance.

34. (Choose 1 answer)
.......... is an order written by an exporter instructing the importer, or an importer's agent, to pay a specified amount of money at a specified time.
A. A bill of exchange (draft)
B. A bill of lading
C. A certificate of origin
D. A certificate of inspection

35. (Choose 1 answer)
In a typical documentary collection procedure, what is the role of the remitting bank?
A. Forwarding documents to the importer's bank
B. Contacting the importer to effect payment
C. Preparing necessary documents such as invoice and bill of lading
D. Releasing documents to the importer upon acceptance

36. (Choose 1 answer)
Which statement is incorrect?
A. In secondary market research, information can be purchased from public or private organizations.
B. Primary market research is conducted by collecting data directly from the foreign marketplace through interviews, focus groups, observation, surveys.
C. Primary market research can be less expensive and time consuming than secondary market research.
D. Primary market research often provides more specific information and more matching with research purpose than secondary market research.

37. (Choose 1 answer)
Which of the following is not true about outsourcing?
A. Firms can achieve lower price
B. Firms can gain benefits from advanced technology available from foreign sources
C. Firms can improve their international competitiveness.
D. Firms will face no problem with quality and delivery time.

38. (Choose 1 answer)
If a merchant vessel's corporation that stands a chance of losing money in the form of freight in case the cargo is lost due to an accident involving the ship, they will use................
A. Marine cargo insurance
B. Hull insurance
C. Liability insurance
D. Freight insurance

39. (Choose 1 answer)
What is the typical response of countries opposed to countertrade in the face of international trade realities and competition?
A. They increase opposition and actively discourage countertrade transactions.
B. They provide financial incentives to companies not engaging in countertrade.
C. They tacitly approve countertrade transactions despite official opposition.
D. They lobby for international bans on all forms of countertrade.

40. (Choose 1 answer)
Economic theory suggests that import levels are affected by different factors, including which of the following?
A. Price of imports, exchange rate, and price of international goods relative to exports
B. Price of imports and exchange rate only
C. Price of imports and price international goods relative to exports
D. Price of imports, exchange rate, and price of domestic goods relative to imports

41. (Choose 1 answer)
The primary purpose of........... in the context of foreign trade is to reduce the financial burden of losses arising from the movement of goods over long distances.
A. Insurance
B. Transportation
C. Investment
D. Inventory

42. (Choose 1 answer)
Which type of risk a business has to face with if the government may impose severe restrictions on export-import trade, such as limitation or control of exports/imports?
A. Political risk
B. Foreign credit risk
C. Transportation risk
D. Foreign exchange risk

43. (Choose 1 answer)
When does liability insurance in marine insurance come into play?
A. When there is damage to the cargo
B. When the ship meets with an accident or collision
C. When the ship's hull is damaged
D. When there is a loss of freight

44. (Choose 1 answer)
According to CIF Incoterms 2020:
- seller must pay the costs and freight includes insurance to bring the goods to.....(1).......
- risk is transferred to the buyer once the goods are loaded on the ship at.....(2).......
A. (1) port of loading, (2) port of loading
B. (1) port of destination, (2) port of destination
C. (1) port of destination, (2) port of loading
D. (1) port of loading, (2) port of destination

45. (Choose 1 answer)
Which of the following is a disadvantage of Cash in Advance for the buyer?
A. The buyer is responsible for the shipping costs.
B. The buyer must pay for the goods before they are shipped, which carries the risk that the goods might not meet expectations.
C. The buyer has to pay additional fees for using the method.
D. The buyer's bank controls the timing of the paymen

46. (Choose 1 answer)
What does traffic management in logistics involve?
A. Selecting the fastest mode of transportation
B. Consolidating large cargo shipments
C. Handling inventory and storage issues
D. Choosing transportation carriers, documenting shipments, and managing claims

47. (Choose 1 answer)
Which of the following is false?
A. Exporters often face voluminous paperwork, complex formalities, and many potential delays and errors.
B. The United States Department of Commerce stands ready to help potential American exporters find potential export opportunities.
C. Only a very few states and cities are involved in trade commissions whose purpose is to promote exports.
D. There are a number of private organizations ready to provide assistance to would-be exporters.

48. (Choose 1 answer)
Which of the following transport documents is not appropriate for transportation by sea?
A. A bill of lading
B. A charter party bill of lading
C. An airway bill
D. A through bill of lading

49. (Choose 1 answer)
Which of the following is false about the impact of tariff?
A. The government gains because it increases government revenues.
B. Domestic producers gain because the tariff affords them some protection against foreign competitors by increasing the cost of imported foreign goods.
C. Consumers lose since they must pay more for certain imports.
D. There is no impact of tariff on price of import and/or export products.

50. (Choose 1 answer)
Since January 1995, approximately __ RIAs were notified to the WTO.
A. 546
B. 512
C. 495
D. None of the above

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