Question

I CHOOSE THE BEST ANSWER FOR THE FOLLOWING QUESTIONS 1 Which one is the right quotation of a Chinese exporting company? CFRN B CNY 1000/MT A. EUR 100/KG CIF HAMBERG DJPY 10000/CASE CIF Guangzhou C. HKD 1000/DOZ FOB ransportation, all risk of loss or damage 2. According to INCOTERM2010, under EXW term, if the accident happened in tr to the goods will be borne by the A Buyer B. Seller C Carier D. Insurer 3 According to INCOTERM2010, the common point for Group C is A Delivery shall be at the port of destination B Applicable to water trarsportaion C. The freight from place of shipment to place of destination shall be borne by the seler D. The insurance premium shall be borne by the seller 4. According to INCOTERM2010, the common point for Group F is B. Applicable to water transportation A. Delivery shall be at the port of destination C. The freight from place of shipment to place of destination shall be borne by the buyer D The insurance premium shall be borne by the seller 5. According to INCOTERM2010, under in CFR term, all risk of loss or damage to the goods will be transferred until the goods A. Being under the control of carrierB. Being under the control of the first carrier C Being delivered on the vessel at the port of discharge D Being delivered on the vessel at the port of shipment 6. According to INCOTERM2010, under DAT term, if the vessel sank all risk of loss or damage to the goods will be borne by the A. Buyer B. Seller C. Crrier DInsurer 7. For the following trade terms, which one means the maximum responsibilities for seller? A. EXW B FCA C CIF D. DAP 8. For the following trade terms, which one the seller should pay import taniff? A. EXW B FCA C DDP D. DAP

Answer 1

Ques2 The correct answer is Buyer as under EXW seller has minimum responsibility. He has to produce the goods for the buyer and rest of the expenses is borne by the buyer at his cost. Buyer has maximum responsibility under EXW.

Ques6 The correct answer is Seller. This is given as per the INCO terms 2010.

Ques7: The correct answer is DAP as under DAP seller has to bear all risk, cost and losses until the goods is delivered to buyer point of destination.

Ques8: Under DDP which means delivery duty paid in which import duty has to be paid by the seller of the goods.