Title and Description Writer Quiz
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Title and Description Writer Quiz

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Questions and Answers

What are INCOTERMS?

  • A set of international rules for interpretation of the chief terms used in foreign trade transactions (correct)
  • A set of international standards for quality control in manufacturing
  • A set of international regulations for shipping goods across borders
  • A set of international guidelines for hiring foreign employees

    • What is the main difference between FAS and FOB?

  • FAS is one of the most common export terms, while FOB is less commonly used
  • FAS stands for "Free on Board", while FOB stands for "Free Alongside Ship"
  • The exporter pays all expenses up to dispatch of goods for FOB, while the buyer bears the risk and expenses from that point onwards
  • The exporter pays all expenses up to the dispatch of goods alongside the ship for FAS, while the buyer bears the risk and expenses from that point onwards (correct)

    • When were INCOTERMS first published?

  • 1946
  • 1956
  • 1966
  • 1936 (correct)

    • Which term means that the exporter's obligation is fulfilled when goods are loaded on Rail?

    <p>FOR</p> Signup and view all the answers

    Is the adoption of INCOTERMS mandatory?

    <p>No</p> Signup and view all the answers

    Which statement about Ex Works Price is correct?

    <p>Delivery takes place at works or a warehouse</p> Signup and view all the answers

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