TAKT7 FTU

English for Special Purposes - International Business Compiled by Khang Béo

1

TEST 1

1. This method of payment creates cash flow problems and increases risk for the

buyer

A. Documentary credit

B. Open account

C. Bill for collection

D. Advance payment

2. Clients look for ………… from an arbitration service.

A. speed and cost effectiveness

B. reliability of the arbitrators and their decisions

C. confidentiality

D. all of the above (A, B and C)

3. The three main business areas which have traditionally been resolved by

arbitration are …………

A. shipping, commodity and construction

B. shipping, commerce and wine

C. commodity, construction and share

D. construction, shipping and convenience

4. The term used to describe attempts to restrict imports into the country

A. tax

B. quota

C. protectionism

D. tariff

5. You can ………… a house and ………… a car.

A. hire/rent

B. hire/hire

C. rent/rent or hire

6. 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

7. The clause covers General Average.

A. A

B. B

C. A,B,C


2

8. A document that shows details of goods being transported; it entitles the

receiver to collect the goods on arrival.

A. An invoice

B. A bill of exchange

C. A bill of lading

D. A draft

9. Transferring money from Britain to another country is called sending money

…………

A. overseas

B. over-water

C. over-waves

10. Earthquake, volcanic eruption and lighting are covered under the cargo clause

…………

A. A

B. B

C. C

D. A and B

11. ………… insurance originated in the fifteenth century.

A. Boat

B. Sea

C. Navy

D. Marine

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

A. The exporter.

B. The buyer.

C. The forwarding agent.

D. The advising bank.

13. Between which 2 parties is an insurance contract made?

A. Between the insurer and the shipping company

B. Between an insurance company and the shipping company

C. Between the insurer and the party taking out insurance cover

D. Between the assured party and the party taking out insurance cover.

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

A. When the goods are ex-quay

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


3

15. In joint venture, two or more companies ………… on specific projects

A. collaborate

B. compete

C. practice

D. deal

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

A. Insurer

B. Importer

C. Exporter

17. The Japanese yen is trading for less than its usual value. You can talk about

…………

A. a small yen

B. a bad yen

C. a weak yen

18. A merger with or the acquisition of one‟s marketing outlets is known as

…………

A. horizontal merger

B. forward merger

C. vertical merger

D. backward merger

19. In the past, a lot of small banks were ………… by larger ones.

A. bought up

B. eaten up

C. chewed up

20. 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.

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

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

A. Delivery

B. Payment

C. Arrival


4

22. With this method of payment, banks play an active role. Banks are responsible

for paying for the exporter in case the importer fails to do so


B. Open account


D. Advance payment

23. ………… is open-ended.

A. tailor-made

B. floating

C. open cover

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

A. The exporter.

B. The forwarding agent.

C. The buyer.

D. The confirming bank.

25. Cultural differences are one of the potential ………… of international mergers.

A. threats

B. pitfalls

C. attraction

D. benefits

26. Earthquake, volcanic eruption and lighting are not covered under the cargo

clause …………

A. A

B. B

C. C

D. B and C

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

A. When the goods are At the seller’s premises




28. A document used for transporting goods in containers by road, rail and ship

without being open is a …………

A. Bill of exchange

B. invoice

C. contract of carriage

D. container bill of lading


5

29. The Mexican peso is trading for more than its usual value. You can talk about

…………

A. a big peso

B. a good peso

C. a strong peso

30. She looked at the ………… to check where the goods were produced

A. certificate of origin

B. test certificate

C. postmark

D. trade mark

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





32. ………… from a source country into a destination country for the purpose of

exporting to a third country.

A. Horizontal FDI

B. Platform FDI

C. Vertical FDI

33. ………… is the money paid for the right to use the property of another person.

A. Compensation payment

B. Royalty payment

C. Property charges

D. Royalty fees

34. 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.

35. One problem in international mergers is the difference in ………… and benefits

for managers with similar positions.

A. duties

B. output

C. activity

D. compensation


6

36. 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

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

A. A

B. B

C. C

D. A and B

38. All risks covered is under ………… clause

A. A

B. B

C. C

39. Joining with firms in other stages of the production or sale of a product.

A. horizontal integration

B. vertical integration

C. backward integration

D. forward integration

40. International trade develops because certain countries are able to produce some

goods more efficiently than other countries. They exchange these goods in order

to satisfied their needs and wants.

A. Countries import the goods which they produce efficiently.

B. Countries probably export the goods which are not efficiently produced.

C. Countries probably exchange goods which they produce efficiently for goods which

other countries produce efficiently.

D. Efficient exchange results from international trade.

41. The exporter didn‟t receive payment for his goods because the buyer …………

A. defaulted

B. deferred

C. declines

D. denied

42. Fixed exchange rates are achieved by the intervention of the …………

A. investment bank

B. commercial bank

C. central bank

D. merchant bank


7

43. Many countries, such as the United Kingdom and New Zealand, are …………

dependent on international trade

A. favorable

B. heavily

C. perfectly

D. grossly

44. ………… is the situation when a ship in a storm might have to jettison certain

cargo to protect the ship and the remaining cargo

A. Average clause

B. Particular average

C. General average

D. Average clause general

45. Collecting, analyzing and reporting data relevant to a specific market situation

(such as a proposed new product) is …………

A. market analysis

B. market segmentation

C. marketing

D. market research

46. A monetary system whereby the value of currencies could be converted into gold

at a country‟s central bank

A. gold system

B. gold standard

C. gold value

D. gold convertible

47. When the Bill of lading marked "freight prepaid”. Who pays for the freight?

A. The Buyer

B. The Seller

C. The agent


48. War risk is not included in …………

A. A clause

B. B clause

C. A,B,C clause

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

A. 1

B. 2

C. 3


8

50. A bankrupt person's ………… can be taken and used to repay his/her debts.

A. things

B. items

C. property


9

TEST 2

1. Buying a company for less than the value of its assets, the selling these assets to

make a profit is called …………

A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid

2. All mergers aim to create ………… for the two companies‟ shareholders.

A. added value

B. lower costs

C. economies of scale

D. tax benefits



A. favorable

B. heavily

C. perfectly

D. grossly

4. In Britain, it's not usual to discuss your personal …………

A. money

B. finances

C. money arrangements

5. Why do sellers or buyers insure their cargoes?

A. To protect themselves from loss or damage to their goods

B. To protect themselves from loss only

C. To protect themselves from damage only

D. To protect the third party from loss or damage to their goods

6. Anything that acts as a security or guarantee for a loan

A. Collateral

B. Mortgage

C. Warranty

D. Guarantee


A. 1

B. 2

C. 3


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clause …………

A. A

B. B

C. C

D. B and C

9. A force majeure is an ………… event such as strike, riot or natural disaster

which prevents a contract from being …………

A. unforeseen / fulfilled

B. unseen / fulfilled

C. unforeseen / filled

10. The term used to describe attempts to restrict imports into the country:

A. tax

B. quota

C. protectionism

D. tariff

11. The exporter‟s bank then ………… the documents to the importer‟s bank.

A. signs

B. forwards

C. remits

D. defers

12. With the open account method of payment, payment is made

A. before the goods are shipped.

B. when there is no contract involved.

C. after the goods have arrived.

D. when the exporter doesn’t trust the buyer.

13. Undertaking to indemnify means …………

A. Disagree to pay compensation for loss or damage

B. Agree to pay compensation for loss or damage

C. Agree to pay for loss or damage without compensation

D. Agree to pay compensation for the broker

14. Buying another company‟s shares on the stock exchange, hoping to persuade

enough other shareholders to sell to take control of the company.

A. A merger

B. An acquisition

C. An integration

D. A raid


11






16. Two parties sign a contract.

A. The contract is binding

B. The contract is effective

C. The contract is binding and effective

17. Employing more staff has reduced our ………… time in the port

A. turning

B. turn-round

C. turn back

D. turnover

18. A company which makes a profit can be described as profitable or …………

A. profit-getting

B. profit-making

C. profit-having

19. The agreed amount of money to give insurance cover is …………

A. Premium

B. life insurance

C. marine insurance

D. compensation

20. Here's the fifty dollars I …………

A. owe you

B. pay you back

C. must return

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

A. The exporter.

B. The buyer



22. Multinational companies usually have ………… in different countries.

A. daughter companies

B. subsidiaries

C. factories

D. colleagues


12

23. The government has imposed protective tariffs to stop the ………… of cheap

imports which threatened to destroy domestic industries

A. rain

B. famine

C. flood

D. storm

24. What do we call the difference between a country‟s imports and exports?

A. the balance of trade

B. the balance of payments

C. the surplus

D. the deficit

25. Multinational companies can adapt their management method to the …………

in each country or continent.

A. their culture

B. local conditions

C. local culture

D. local people

26. Insurance companies can be considered as professional ………… Takers

A. life

B. risk

C. chance

D. misfortune

27. The payment method needs complete trust between the exporter and the

importer.

A. Bill for collection

B. Letter of credit

C. Advance payment

D. Open account

28. After dispatching the goods, the exporter ………… the documents to his bank.

A. demands

B. collects

C. issues

D. presents


A. hire/rent

B. hire/hire



13

30. A merger with or the acquisition of one‟s marketing outlets





31. A person who receives an international payment is called the …………

A. getter

B. beneficiary

C. receiver

32. A public offer to buy a company‟s shareholders to buy their shares, at a

particular price during a particular period, so as to acquire a company

A. A merger

B. An acquisition

C. A takeover bid

D. A raid

33. Among other things, a ………… contains details of the goods, their destination

and the name of the ship carrying them.

A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


buyer.


B. Open account


D. Advance payment


for paying for the exporter in case the importer fails to do so.


B. Open account


D. Advance payment

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

A. Seaway bill.

B. Ocean bill.

C. Sea waybill.


14

37. Currency bought or sold today with delivery two business days later

A. Spot transaction

B. Forward transaction

C. business transaction

D. Futures transaction

38. Who issues ocean bill of lading?

A. Captain

B. Exporter

C. Shipping company

D. Agent

39. Some manufacturers were accused of …………, in other words selling goods

abroad at a lower price than they were sold domestically.

A. dumping

B. revaluing

C. flooding

D. devaluation

40. Transfer of risk from the seller to the buyer (Incoterm 2000): DES

A. When the goods are ex-ship




41. My endowment policy will ………… when I‟m sixty-five

A. ripen

B. mature

C. flourish

D. break

42. 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.

43. Merging with or taking over other firms producing the same type of goods or

services is known as …………


B. diversification

C. vertical merger

D. backward merger


15

44. Make sure all this equipment is insured ………… accidental damage

A. over

B. against

C. with

D. from

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

A. When the goods are at frontier





A. A

B. B

C. C

47. Factors that can give a country an absolute or comparative advantage in goods

and services over other countries are …………

A. factors of production, most importantly raw materials, but also labor pool

B. climate, economies of scale.

C. natural resources and location

D. All of these above


A. The exporter.


C. The buyer.


49. The person who goes between the person who wants the insurance and the

person who underwrites it is …………

A. a shipper

B. a client

C. a broker

D. an insurer


A. Delivery

B. Payment

C. Arrival


16

TEST 3



A. a shipper

B. a client

C. a broker

D. an insurer


…………

A. overseas

B. over-water

C. over-waves

3. The ………… form you fill in is the basis of your contract with the insurance

company

A. proposition

B. application

C. enrolment

D. proposal









A. duties

B. output

C. activity

D. compensation

6. When the total value of a country‟s imports is greater than its exports, it is a

trade …………

A. balance

B. loss

C. debit

D. deficit


17

7. Some of the language in insurance ………… is incomprehensible to most

ordinary people.

A. premiums

B. policies

C. rates

D. invoices

8. The bank notifying the exporter that the letter of credit has been opened is

called …………

A. The issuing bank.

B. The advising bank.

C. The confirming bank.

D. The opening bank.


A. The exporter.

B. The buyer



10. In many cases, the insurance company doesn't take the financial …………

A. problem

B. risk

C. damage

11. An insolvent company often goes into liquidation. A private individual who

cannot pay his/her debts may be declared ………… by a court.

A. bankrupt

B. indebted

C. penniless






13. The document which shows details of goods being transported and which

entitles the receiver to collect the goods is called a …………

A. bill of exchange

B. document of title

C. bill of lading

D. declaration


18

14. ………… takes place when a firm through FDI moves upstream or downstream

in different value chains i.e., when firms perform value-adding activities stage

by stage in a vertical fashion in a host country.

A. Horizontal FDI

B. Platform FDI

C. Vertical FDI

15. A bank that issues a letter of credit (i.e. the importer‟s bank).

A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. market analysis


C. marketing

D. market research




C. confidentiality


18. Which market is bigger?

A. Super market is bigger than traditional market

B. Street market is bigger than home market

C. An open air market is bigger than a home market

D. Product market is bigger than consumer market

19. A bill of exchange become payable upon …………

A. remittance

B. acceptance

C. dispatch

D. maturity



B. subsidiaries

C. factories

D. colleagues


19

21. ………… are raw materials such as agricultural products and metals that are

traded on special exchanges.

A. Goods

B. Raw materials

C. Productivity

D. Commodities



A. Average clause


C. General average


23. What is the most complete cover of insurance?

A. No partial loss is payable

B. Partial loss is payable

C. It only covers total loss

D. Against all risks


A. life

B. risk

C. chance

D. misfortune

25. An evidence that an insurance contract has been made is …………

A. An insurance certificate

B. A certificate of origin

C. A health certificate

D. A compensation certificate

26. 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



B. test certificate

C. postmark

D. trade mark


20






29. A life insurance policy pays out ………… your death or after a set period,

whichever is first.

A. in case of

B. if

C. in the event of

30. In the UK, mergers and acquisitions are not ………… by the government.

A. controlled

B. checked

C. regulated






32. When a company‟s top executives buy the company they work for is known as

…………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition


A. Delivery

B. Payment

C. Arrival





35. A country with very low taxes is known as a …………

A. tax heaven

B. tax haven

C. tax paradise


21

36. The process of making and defending a claim in court is …………

A. arbitration

B. litigation

C. prevention

D. protection


A. The exporter.


C. The buyer.


38. Joining with firms in other stages of the production or sale of a product is

known as …………


B. diversification

C. vertical merger

D. backward merger

39. Prices go up every year. This is because of …………

A. inflation

B. expansion

C. evolution


A. signs

B. forwards

C. remits

D. defers

41. ………… are cash grants, lower taxes, accelerated depreciation, training

allowance, research subsidies and interest rebates on loans

A. Investment incentives

B. Labour incentives

C. Bonus

D. Returns on investment

42. The company will ………… the police-holder against loss of or damage to the

insured vehicle

A. identify

B. respect

C. indemnify

D. engage


22

43. Another term for "main business" is ………… business.

A. central

B. first

C. core

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

A. document of title

B. document of negotiation

C. document of freight

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

A. The exporter.

B. The carrier.

C. The buyer.

D. The forwarding agent.

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

A. A

B. B

C. C

D. C and B


A. owe you

B. pay you back

C. must return


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.






50. What do we call goods that go from one country to another?

A. exports

B. imports

C. visible exports and imports

D. invisible exports and imports


23

TEST 4

1. Among a number of international bodies offer arbitration services, the …………

in Paris is the most prestigious.

A. UCP

B. ADR

C. ICC

D. FAO

2. What is the best kind of advertising?

A. TV advertising

B. Word of mouth

C. Printing advertising

D. Radio advertising




C. the surplus

D. the deficit

4. 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

5. Multinational companies set up production facilities in countries where

production is most efficient.

A. All countries allow foreign ownership of production facilities.

B. The larger company is called the parent company; the production facilities are referred

to as a subsidiary.

C. Subsidiary companies eliminate the problem of worldwide competition.

D. Each subsidiary needs to consider only local market condition.



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid


24






8. Steve works for BurgerPlanet. He only earns about £6 …………

A. for an hour

B. an hour

C. the hour






10. The Incoterm ………… contains 13 terms.

A. 1990

B. 2000

C. 2010

D. 1990 and 2000

11. A country can accrue wealth if it exports more than it imports.

A. This country has a balance of trade deficit.

B. Demand for this country’s currency will fall.

C. This country receives money from countries which import its products.

D. All of these above.


A. hire/rent

B. hire/hire







14. "Profit before tax" can also be called …………

A. pre-tax profit

B. without-tax profit

C. non-tax profit


25

15. Some countries try to be ………… in certain commodities so that they are not

dependent on imports.

A. economic

B. sufficient

C. self-sufficient

D. self-financing

16. 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.



A. Bill of exchange

B. invoice



18. The fact that labour cots are lower in other countries ………… us at a

tremendous disadvantage

A. makes

B. does

C. puts

D. sells

19. The technical ………… for electrical equipment can vary from country to

country

A. justification

B. rules

C. specifications

D. uniforms

20. A certain climate in a particular country may allow that country to grow

agricultural products in abundance

A. This country probably has a comparative advantage in agriculture

B. This country most likely exports farm products

C. This country can grow food efficiently

D. All of the above.


26


A. defaulted

B. deferred

C. declines

D. denied


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank

23. Aims of a strategic approach made by multinational companies are …………

A. to access raw materials and markets

B. to get product efficiency and knowhow

C. to access premises and natural resources

D. A & B

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

A. The buyer.

B. The exporter.

C. The issuing bank.







26. A basis for mutually beneficial trade is the fact that one country has a

comparative advantage

A. Both the importing country and the exporting country benefit from trade

B. One’s country comparative advantage can benefit another country

C. The comparative advantage of one country can result in trade between countries




A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


27


…………

A. a small yen

B. a bad yen

C. a weak yen

29. The main difference between arbitration and litigation is that …………

A. Arbitration takes place in private

B. Litigation takes place in court

C. Arbitration takes place abroad

D. A and B



A. a shipper

B. a client

C. a broker

D. an insurer

31. What do we call a small but very profitable market?

A. mass market

B. up market

C. niche market

D. supermarket


A. exports

B. imports



33. 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

34. In these inflationary times it is important to keep the value of your policy closely

………… to the value of your property.

A. adapted

B. linked

C. indicated

D. dependent


28

35. An insurance broker usually ………… several different insurance companies.

A. deals with

B. contacts

C. works for

36. The movement of money into and out of a company is known as …………

A. annual turnover

B. profit margin

C. cash flow

D. bank charges






A. 1990

B. 2000

C. 2010

39. A company which makes a loss can be described as …………

A. loss-getting

B. loss-making

C. loss-having

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






A. A

B. B

C. C

D. A and B

42. Two forms of protectionism are …………

A. quotas and tariffs

B. surplus and deficit

C. duties and taxes

D. barriers and non-barriers


29













A. The Buyer

B. The Seller

C. The agent


46. Weight is important for air transport because if its …………

A. size

B. high freight rates

C. measurement

D. high quality







A. tax

B. quota

C. protectionism

D. tariff



A. Average clause


C. General average



30


A. profit-getting

B. profit-making

C. profit-having


31

TEST 5

1. Factors considered when choosing the modes of transportation are ……………

A. freight, size and premium

B. time, length and weight

C. nature of the goods, size and rates

D. nature of the goods, time and freight rates

2. Simultaneous purchase and sale of the same foreign exchange in different

markets to profit from rate differentials.

A. speculating

B. arbitrating

C. hedging

D. trading

3. The World Bank refused to grant the loan until an environmental ………… was

carried out.

A. estimate

B. test

C. assessment

D. report








…………


B. forward merger

C. vertical merger

D. backward merger

6. Trying to insure against unfavorable price movements by way of futures

contract

A. speculating

B. arbitrating

C. hedging

D. trading


32






8. A merger with or the acquisition of one‟s suppliers





9. The court of arbitration applies whatever ………… the parties stipulate in the

contract.

A. International law

B. Corporate law

C. National law

D. Business law


A. A

B. B

C. C

D. A and B

11. Go to an insurance ………… and see if you can get a better deal.

A. breaker

B. broker

C. speculator

D. merchant


A. threats

B. pitfalls

C. attraction

D. benefits


receiver to collect the goods on arrival

A. An invoice


C. A bill of lading

D. A draft


33

14. The advantages of arbitration are …………

A. Private and foreseeable costs

B. Lengthy and open

C. Binding and rigid

D. Time - consuming

15. Marketing is an important consideration for

A. the consumer

B. the distributer

C. all aspects of production

D. the salesman

16. Title to the goods passes …………

A. With risks

B. Across the ship’s rail

C. On board

17. The financial risk is taken by ………… such as Lloyds of London.

A. underwriters

B. undertakers

C. underpasses


…………

A. a big peso

B. a good peso

C. a strong peso


A. problem

B. risk

C. damage


A. hire/rent

B. hire/hire


21. What do we call the difference between all the money paid out and received by a

country?



C. deficit

D. surplus


34

22. What is a transferable credit?

A. It is the kind of credit which allows the exporter to transfer his right as the credit’s

beneficiary to any third party.

B. It is the kind of credit which allows the first beneficiary to request the confirming bank

to pay a third party.

C. It is the kind of negotiable document with which the exporter can endorse for any third

party.

D. It is the kind of credit with which the buyer will not necessarily know who is the

actual supplier of the goods.


A. The exporter.

B. The buyer




A. Seaway bill.

B. Ocean bill.

C. Sea waybill.

25. 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


A. inflation

B. expansion

C. evolution





28. 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.


35


whichever is first.

A. in case of

B. if

C. in the event of

30. Selling products abroad at prices lower than the cost of production is known as

dumping.

A. Dumping is always against government policy.

B. Dumping is always beneficial to the importing country because buyers pay lower

prices.

C. Exporters dump products on foreign markets to lower domestic employment.

D. Some reasons for dumping could be inventory reduction, maintenance of domestic

employment, and continuation of high production levels.

31. ………… is an approach to business that emphasizes persuading customers to

buy products that you already have, rather than producing new ones that

customers may want.

A. Marketing concept

B. Product concept

C. Promotion concept

D. Selling concept


A. The buyer.

B. The exporter.





A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


clause …………

A. A

B. B

C. C

D. B and C


36


A. Spot transaction





A. mass market

B. up market

C. niche market

D. supermarket


A. bought up

B. eaten up

C. chewed up


A. loss-getting

B. loss-making

C. loss-having


A. tax heaven

B. tax haven

C. tax paradise








A. bankrupt

B. indebted

C. penniless




C. the surplus

D. the deficit


37

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





44. 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.


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. economic

B. sufficient

C. self-sufficient

D. self-financing



A. favorable

B. heavily

C. perfectly

D. grossly

48. If a letter of credit is confirmed, ………… takes responsibility for payment.

A. the importer’s bank

B. the importer

C. the exporter

D. the exporter’s bank


A. ripen

B. mature

C. flourish

D. break


38



A. A merger

B. An acquisition

C. A takeover bid

D. A raid


39

TEST 6



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.

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

A. Clean bill of lading

B. Claused bill of lading

C. Clear bill of lading


comparative advantage.

A. Both the importing country and the exporting country benefit from trade.

B. One’s country comparative advantage can benefit another country.

C. The comparative advantage of one country can result in trade between countries.



A. tax

B. quota

C. protectionism

D. tariff

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






A. ripen

B. mature

C. flourish

D. break


40

8. 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%.


whichever is first.

A. in case of

B. if

C. in the event of


A. 1990

B. 2000

C. 2010

11. A sovereign is a coin made of 7.3 grams of gold, and is worth a lot of money.

However, its ………… is just one pound.

A. front value

B. face value

C. written value



A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


company

A. proposition

B. application

C. enrolment

D. proposal



A. An invoice


C. A bill of lading

D. A draft


41


A. signs

B. forwards

C. remits

D. defers

16. The arbitrators‟ awards are …………

A. Consultative and examinatorial

B. Final and enforceable

C. Referrable and reverable

D. All of the above

17. Governments try to control imports of products to protect domestic industries

A. Protectionist measures take the form of import duties and quotas

B. Protectionist measures insure free trade

C. Workers are always opposed to protectionism

D. All protectionist policies have the same effect on the market



A. duties

B. output

C. activity

D. compensation


A. The Buyer

B. The Seller

C. The agent









A. rain

B. famine

C. flood

D. storm


42

22. Does the buyer or seller insure the cargo?

A. The seller

B. The buyer

C. Both the buyer and the seller

D. It depends on the terms of the purchase contract

23. The situation in which a country has no foreign trade

A. surplus

B. deficit

C. autarky

D. deficits


A. 1

B. 2

C. 3


A. owe you

B. pay you back

C. must return





to as a subsidiary.





A. Average clause


C. General average



…………


B. Combined bill.




43

29. My insurance company offers a wide ………… of cover

A. range

B. branch

C. rank

D. standard







A. Goods

B. Raw materials

C. Productivity

D. Commodities



A. A merger

B. An acquisition

C. A takeover bid

D. A raid



A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek


A. Railway bill.

B. Rail waybill.





A. makes

B. does

C. puts

D. sells


44









C. duties and taxes


38. A takeover of a foreign company is known as a ………… deal.

A. cross-boundary

B. cross-border

C. cross-state

39. Because of the recession, several ships have been laid …………

A. off

B. out

C. down

D. up



A. UCP

B. ADR

C. ICC

D. FAO

41. A merger with or the acquisition of one‟s suppliers is known as …………


B. forward merger

C. vertical merger

D. backward merger



customers may want.


B. Product concept


D. Selling concept


45


A. deals with

B. contacts

C. works for

44. Modern marketing aims to satisfy the wants of the consumer. Marketing

personnel should consider first of all

A. how to advertise the product

B. what products the customer desires

C. how to distribute the product

D. engineering problems


A. Insurer

B. Importer

C. Exporter

46. What is the main difference between arbitration and litigation?

A. Arbitration takes place in private, litigation takes place in court

B. Bias

C. Low costs

D. The process of making decision in court


importer.


B. Letter of credit

C. Advance payment

D. Open account





D. A and B

49. With this method of payment, banks play a passive role. All banks have to do is

to follow the instructions of the buyer and the seller and get a collection fees in

return


B. Open account


D. Advance payment


46


dumping

A. Dumping is always against government policy


prices

C. Exporters dump products on foreign markets to lower domestic employment


employment, and continuation of high production levels


47

TEST 7

1. If the price is quoted CIF San Francisco, who pays for the insurance and

freight?

A. The exporter

B. The buyer.



2. What does marketing involve?

A. deciding what the customer wants

B. finding out what kinds of product customers want

C. designing and producing a product that satisfies these wants at a profit for the

company

D. A and C


A. exports

B. imports





A. adapted

B. linked

C. indicated

D. dependent

5. 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.

6. In oriental cultures, to ………… is one of the most embarrassing things that can

happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor


48






8. 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

9. 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.

10. The disadvantage of ………… policy is that it is set up for particular time and

automatically expires.

A. tailor-made

B. floating

C. open cover



A. bill of exchange


C. bill of lading

D. declaration


importer


B. Letter of credit

C. Advance payment

D. Open account

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

A. The shipper.

B. The exporter.


D. The buyer.


49


A. for an hour

B. an hour

C. the hour

15. Three firms have ………… for the contract.

A. tendered

B. offered

C. given prices

16. Governments try to control imports of products to protect domestic industries.

A. Protectionist measures take the form of import duties and quotas.

B. Protectionist measures insure free trade.

C. Workers are always opposed to protectionism.

D. All protectionist policies have the same effect on the market.

17. Investors are looking for a high ………… on their investment.

A. earning

B. return

C. growth

D. performance

18. Changes in the values of currencies are called …………

A. currency fluctuations

B. currency alterations

C. currency changes

19. If the contract does not specify applicable law, the ………… will be applied.

A. Anglo - American law

B. Continental law

C. International private law

D. National law





D. A and B



B. forward merger

C. vertical merger

D. backward merger


50


A. mass market

B. up market

C. niche market

D. supermarket



A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek

24. A bank that issues a letter of credit (i.e. the importer‟s bank)

A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank


insured vehicle

A. identify

B. respect

C. indemnify

D. engage

26. “free of particular average” means …………




D. A & C








whichever is first.

A. in case of

B. if

C. in the event of


51




A. and.

B. or.

C. and/or.

D. Either B or C.








A. problem

B. risk

C. damage



A. a shipper

B. a client

C. a broker

D. an insurer

33. Banks and insurance companies are types of …………

A. financial institution

B. finance company

C. financier

34. A company giving insurance cover is known as the …………

A. insurer

B. insured

C. insurance



A. Average clause


C. General average



52


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.

37. Unless otherwise agreed, the insurance is "minimum cover” – cargo clause

…………

A. A

B. B

C. C


A. remittance

B. acceptance

C. dispatch

D. maturity


A. hire/rent

B. hire/hire



A. 1990

B. 2000

C. 2010

41. When two companies merge they always look at ways to ………… in order to be

more efficient and profitable.

A. recruit staff

B. cut costs

C. increase advertising

D. reduce salaries


A. Boat

B. Sea

C. Navy

D. Marine


A. loss-getting

B. loss-making

C. loss-having


53








A. dumping

B. revaluing

C. flooding

D. devaluation









A. C and F

B. D and F

C. C and D








A. The exporter

B. The importer

C. The carrier







54

TEST 8


A. central

B. first

C. core







contract.


B. Corporate law

C. National law

D. Business law


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank


A. insurer

B. insured

C. insurance








A. rain

B. famine

C. flood

D. storm


55


ordinary people.

A. premiums

B. policies

C. rates

D. invoices


A. pre-tax profit


C. non-tax profit

10. In which city would you choose to arbitrate an east-west trading dispute?

A. Hong Kong

B. London

C. Paris

D. Stockholm

11. The insurance will be ………… if you omit any relevant information.

A. void

B. valid

C. invaluable

D. priceless

12. To run their foreign subsidiaries, multinationals usually appoint a …………

A. project manager

B. team leader

C. decision maker

D. country manager

13. 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.



A. adapted

B. linked

C. indicated

D. dependent


56

15. If a letter of credit is confirmed, ………… takes responsibility for payment


B. the importer

C. the exporter


16. 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.


A. With risks


C. On board

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







A. favorable

B. heavily

C. perfectly

D. grossly




B. Open account


D. Advance payment

21. We can get a government ………… to help build a new factory in an area with

high unemployment.

A. grant

B. money

C. payment


57

22. When you change money, you usually have to pay a …………

A. commission

B. percentage

C. fee


A. life

B. risk

C. chance

D. misfortune

24. His insurance company had told him not to admit ………… even though it was

clearly his fault

A. legality

B. likelihood

C. liability

D. crime

25. By issuing a letter of credit, the bank made ………… to pay the exporter for the

goods, provided that the correct documentation was presented.

A. a willingness

B. a readiness

C. a debit advice

D. an undertaking

26. The cost of borrowing money, usually expressed as a percentage of the amount

borrowed

A. Interest rate

B. A collateral

C. mortgage

D. Inflation rate


A. Surplus

B. deficit

C. autarky

D. deficits




C. the surplus

D. the deficit


58



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid

30. You‟re allowed 30 days‟ ………… for the payment of the renewal premium.

A. grace

B. favour

C. way

D. permission



A. bill of lading

B. way-bill

C. bill of exchange

D. receipt

32. In order to improve their services to customers, banks need to become more

…………

A. Customer oriented

B. profitable

C. competitive

D. efficient



A. speculating

B. arbitrating

C. hedging

D. trading

34. " Minimum Coverage” is the so-called Cargo Clause …………

A. A

B. B

C. C


A. deals with

B. contacts

C. works for


59



return


B. Open account


D. Advance payment


production is most efficient

A. All countries allow foreign ownership of production facilities


to as a subsidiary.

C. Subsidiary companies eliminate the problem of worldwide competition

D. Each subsidiary needs to consider only local market condition


dumping.



prices.





…………

A. a small yen

B. a bad yen

C. a weak yen

40. Who can change the marketing mix?

A. Marketing manager

B. Sales manager

C. Product manager

D. Managing Director


A. earning

B. return

C. growth

D. performance


60



A. recruit staff

B. cut costs


D. reduce salaries







44. Unlike quotas, tariffs produce ………… for the government

A. profit

B. surplus

C. revenue

D. earnings



B. Bias

C. Low costs



carried out.

A. estimate

B. test

C. assessment

D. report


A. TV advertising

B. Word of mouth




A. things

B. items

C. property


61

49. 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.



A. The exporter

B. The importer

C. The carrier


62

TEST 9







A. exports

B. imports










A. The exporter.


C. The buyer.





C. duties and taxes








party.




63





8. Companies that handle all aspects of their business internally, such as the big oil

companies, are known as ………… companies.

A. multinational

B. venture capital

C. conglomerate

D. vertically-integrated





the remaining cargo

D. A and C


…………

A. A

B. B

C. C

D. A and B


importer


B. Letter of credit

C. Advance payment

D. Open account



B. Continental law


D. National law

13. In an auction, the item is sold to the person who makes the highest …………

A. bid

B. price

C. offer


64

14. Combined production or productivity that is greater than the sum of the

separate parts

A. diversifying

B. merging

C. specialization

D. synergy

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

A. When the goods are At the buyer’s premises





country

A. justification

B. rules

C. specifications

D. uniforms



A. duties

B. output

C. activity

D. compensation

18. "door to door service” is offered. Which term should be used?

A. DDP

B. CIP

C. CIF


A. The buyer.

B. The exporter.




A. The exporter.

B. The buyer




65

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


B. Combined bill.



22. Insurance companies like you to ………… your claim as soon as possible

A. process

B. submit

C. assure

D. proceed














A. UCP

B. ADR

C. ICC

D. FAO


A. Collateral

B. Mortgage

C. Warranty

D. Guarantee




C. the surplus

D. the deficit


66







A. exports

B. imports




A. The exporter.

B. The carrier.

C. The buyer.



company

A. proposition

B. application

C. enrolment

D. proposal


A. before the goods are shipped

B. when there is no contract involved

C. after the goods have arrived

D. when the exporter doesn’t trust the buyer








A. turning

B. turn-round

C. turn back

D. turnover


67






A. money

B. finances




A. A merger

B. An acquisition

C. A takeover bid

D. A raid







A. tax heaven

B. tax haven

C. tax paradise


A. The Buyer

B. The Seller

C. The agent


41. When the government doesn't control the exchange rate in any way, the

currency is …………

A. freely convertible

B. totally convertible

C. absolutely convertible


A. With risks


C. On board


68


A. Surplus

B. deficit

C. autarky

D. deficits


A. breaker

B. broker

C. speculator

D. merchant


A. Delivery

B. Payment

C. Arrival



B. Sales manager

C. Product manager


47. ………… Bill of lading – found something wrong with the consignment

A. clean

B. clear

C. claused


A. controlled

B. checked

C. regulated


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. Incoterm

B. Contract



69

TEST 10

1. In drafting an arbitration clause, the following questions must be resolved:

A. How many arbitrators sit in the court

B. What is the language of the court

C. Where is the place of the court

D. All of the above


company

A. proposition

B. application

C. enrolment

D. proposal


A. process

B. submit

C. assure

D. proceed









B. Wrong.






ordinary people.

A. premiums

B. policies

C. rates

D. invoices


70


…………

A. a small yen

B. a bad yen

C. a weak yen



return.


B. Open account


D. Advance payment



A. rain

B. famine

C. flood

D. storm


…………


B. forward merger

C. vertical merger

D. backward merger


importer.


B. Letter of credit

C. Advance payment

D. Open account



customers may want.


B. Product concept


D. Selling concept


71

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







A. duties

B. output

C. activity

D. compensation


A. cross-boundary

B. cross-border

C. cross-state


A. A

B. B

C. C

D. A and B



A. Horizontal FDI

B. Platform FDI

C. Vertical FDI



A. factors of production, most importantly raw materials, but also labor pool.


C. natural resources and location.




A. economic

B. sufficient

C. self-sufficient

D. self-financing


72


A. over

B. against

C. with

D. from





D. A & C








A. front value

B. face value

C. written value


insured vehicle

A. identify

B. respect

C. indemnify

D. engage




B. Open account


D. Advance payment

26. A country can accrue wealth if it exports more than it imports

A. This country has a balance of trade deficit

B. Demand for this country’s currency will fall

C. This country receives money from countries which import its products



73


A. A

B. B

C. C








A. market analysis


C. marketing

D. market research

30. ………… allows local companies to use the original manufacturer‟s brand name

A. Franchise

B. Contract

C. License

D. Agreement

31. Many goods coming here are subject ………… customs duty.

A. for

B. to

C. of

D. with


called …………







A. adapted

B. linked

C. indicated

D. dependent


74


arbitration: …………

A. shipping, insurance and commodities

B. shipping, commodities and construction

C. shipping, commodities and raw materials

D. construction, commodities and goods



B. Sales manager

C. Product manager


36. Reduction in costs resulting from increased production is …………

A. diversifying

B. merging

C. specialization

D. economies of scale








A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


A. The Buyer

B. The Seller

C. The agent



A. size


C. measurement

D. high quality


75



B. test certificate

C. postmark

D. trade mark

42. Man-made waterway is called …………

A. canal

B. water-road

C. river road

D. road





to as a subsidiary.



44. What are specific activities of the middleman?

A. collect products

B. divide the products into amount needed by customers

C. transport

D. all of the above



A. UCP

B. ADR

C. ICC

D. FAO




C. the surplus

D. the deficit


A. central

B. first

C. core


76


A. 1990

B. 2000

C. 2010

D. 1990 and 2000




C. duties and taxes



A. profit

B. surplus

C. revenue

D. earnings


77

TEST 11



A. bankrupt

B. indebted

C. penniless






3. "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.



return


B. Open account


D. Advance payment








A. recruit staff

B. cut costs

C. increasing advertising

D. reduce salaries


78



A. dumping

B. revaluing

C. flooding

D. devaluation


A. exports

B. imports





B. Road bill.

C. Roadway bill.



A. bought up

B. eaten up

C. chewed up


A. The shipper.

B. The exporter.


D. The buyer.



A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


importer.


B. Letter of credit

C. Advance payment

D. Open account


79










16. It‟s better to start exporting on a small ………… and then expand if things go

well.

A. measure

B. measurement

C. scale

D. rate


A. earning

B. return

C. growth

D. performance


…………

A. overseas

B. over-water

C. over-waves



A. their culture

B. local conditions

C. local culture

D. local people



A. recruit staff

B. cut costs


D. reduce salaries


80


A. A

B. B

C. C

D. A and B

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

A. Air waybill.

B. Air bill of lading.

C. Airway bill of lading.

D. Airway bill.



return.


B. Open account


D. Advance payment

24. The decision of arbitrators is …………

A. Law-oriented

B. Business-oriented

C. Action-oriented

D. Reaction-oriented

25. A takeover of a foreign company is known as a ………… deal

A. cross-boundary

B. cross-border

C. cross-state

D. cross-culture










D. All of the above


81


A. range

B. branch

C. rank

D. standard


trade …………

A. balance

B. loss

C. debit

D. deficit


A. investment bank

B. commercial bank

C. central bank

D. merchant bank



B. test certificate

C. postmark

D. trade mark

32. Who signs "shipped on board” notation?

A. Captain

B. Exporter

C. Shipping company

D. Agent


A. Premium

B. life insurance

C. marine insurance

D. compensation








82


…………

A. A

B. B

C. C





D. A & B


A. The exporter.

B. The buyer




A. collaborate

B. compete

C. practice

D. deal


carried out.

A. estimate

B. test

C. assessment

D. report


A. tax

B. quota

C. protectionism

D. tariff


agricultural products in abundance.

A. This country probably has a comparative advantage in agriculture.

B. This country most likely exports farm products.

C. This country can grow food efficiently.



83

42. Money invested in helping other people start new businesses is called …………

A. venture capital

B. adventure capital

C. start capital

43. Many contracts contain a force majeure ………… to cover this situation.

A. sentence

B. phrase

C. clause

44. When you change money, you usually have to pay a …………

A. commission

B. percentage

C. fee


A. Boat

B. Sea

C. Navy

D. Marine



A. a willingness

B. a readiness

C. a debit advice

D. an undertaking


A. money

B. finances



high unemployment.

A. grant

B. money

C. payment

49. The money paid if you die is …………

A. Premium

B. life insurance

C. marine insurance

D. compensation


84


A. profit-getting

B. profit-making

C. profit-having


85

TEST 12


A. life

B. risk

C. chance

D. misfortune


A. tendered

B. offered

C. given prices


A. off

B. out

C. down

D. up

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






A. The exporter.

B. The carrier.

C. The buyer.






to as a subsidiary.




A. sentence

B. phrase

C. clause


86











return


B. Open account


D. Advance payment


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.


A. DDP

B. CIP

C. CIF


A. for an hour

B. an hour

C. the hour


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. front value

B. face value

C. written value


87





company

D. A and C







…………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition


A. Captain

B. Exporter

C. Shipping company

D. Agent


whichever is first.

A. in case of

B. if

C. in the event of

20. The person the goods are sent to is called a …………

A. consignor

B. consignee

C. commissioner

D. master







88



A. market analysis


C. marketing

D. market research


country?



C. deficit

D. surplus

24. Companies with very different products often have a structure based on

…………

A. functional areas

B. geographical spread

C. product lines

D. matrix management







26. If the buyer comes from a country which has a poor reputation for enforcing

awards, the best method of payment under the contract is a/ an …………

A. Revolving L/C

B. At sight, confirmed L/C

C. Deferred, irrevocable L/C

D. Transferrable L/C



customers may want.


B. Product concept


D. Selling concept


89

28. What are the three main business areas which have traditionally been resolved

by arbitration?

A. Shipping, commodities and construction

B. Shipping, transportation and education

C. Tourism, construction and shipping

D. Education, tourism and commodities


A. Hong Kong

B. London

C. Paris

D. Stockholm

















33. 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


A. Captain

B. Exporter

C. Shipping company

D. Agent


90


buyer.


B. Open account


D. Advance payment


borrowed

A. Interest rate

B. A collateral

C. mortgage

D. Inflation rate


A. The seller

B. The buyer




freight?

A. The exporter

B. The buyer.




A. underwriters

B. undertakers

C. underpasses







A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank


91







…………


B. Combined bill.





A. duties

B. output

C. activity

D. compensation

45. 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.


A. turning

B. turn-round

C. turn back

D. turnover






high unemployment.

A. grant

B. money

C. payment


92



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid








93

TEST 13

1. Loose, unpackaged cargo is called …………

A. Goods

B. commodity

C. bulk

D. items


importer.


B. Letter of credit

C. Advance payment

D. Open account










B. Open account


D. Advance payment




B. diversification

C. vertical merger

D. backward merger


A. The exporter.

B. The buyer.




94


A. sentence

B. phrase

C. clause












A. process

B. submit

C. assure

D. proceed


A. signs

B. forwards

C. remits

D. defers








to satisfied their needs and wants


B. Countries probably export the goods which are not efficiently produced


other countries produce efficiently

D. Efficient exchange results from international trade


95



A. Average clause


C. General average



A. turning

B. turn-round

C. turn back

D. turnover



A. multinational

B. venture capital

C. conglomerate



A. controlled

B. checked

C. regulated



B. Bias

C. Low costs




B. the importer

C. the exporter




A. market analysis


C. marketing

D. market research


96

21. A company which makes a loss can be described as…………

A. loss-getting

B. loss-making

C. loss-having






23. Sometimes a controlling interest in a company is bought by its managers. This

called a management …………

A. buy-out

B. buy-up

C. buy-in





country.









A. makes

B. does

C. puts

D. sells

27. What are the three main business areas which have traditionally been resolved

by arbitration?

A. Shipping, commodities and construction

B. Shipping, transportation and education

C. Tourism, construction and shipping

D. Education, tourism and commodities


97


A. tendered

B. offered

C. given prices


A. Premium

B. life insurance

C. marine insurance

D. compensation

30. The agreed amount of money to give insurance cover is…………

A. Premium

B. life insurance

C. marine insurance

D. compensation



A. bill of exchange


C. bill of lading

D. declaration







dumping



prices




34. A person who has taken out insurance cover is known as the …………

A. insurer

B. insured

C. insurance


98



A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


A. off

B. out

C. down

D. up

37. Getting control of a company by buying over 50% of its shares is …………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition


A. A

B. B

C. C

D. C and B




B. Wrong.











party.




99


A. cross-boundary

B. cross-border

C. cross-state





D. All of the above

43. In CIF and CIP contracts, the exporter normally assigns the insurance

agreement to …………

A. The buyer

B. The carrier

C. The issuing bank















to as a subsidiary.










100


A. exports

B. imports




insured vehicle

A. identify

B. respect

C. indemnify

D. engage


…………


B. Combined bill.




101

TEST 14


A. 1990

B. 2000

C. 2010

D. 1990 and 2000


carried out.

A. estimate

B. test

C. assessment

D. report


country

A. justification

B. rules

C. specifications

D. uniforms

4. Because of high shipping costs, it made more sense to ………… a manufacturer

to produce our range of furniture

A. license

B. lease

C. control

D. handle



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid



A. An invoice


C. A bill of lading

D. A draft


102


A. annual turnover

B. profit margin

C. cash flow

D. bank charges



A. Goods

B. Raw materials

C. Productivity

D. Commodities


A. Air waybill.



D. Airway bill.


A. earning

B. return

C. growth

D. performance



A. front value

B. face value

C. written value



B. subsidiaries

C. factories

D. colleagues


A. Railway bill.

B. Rail waybill.




103


dumping



prices





contract.


B. Corporate law

C. National law

D. Business law


A. investment bank

B. commercial bank

C. central bank

D. merchant bank







…………


B. profitable

C. competitive

D. efficient



return


B. Open account


D. Advance payment


104


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank


A. controlled

B. checked

C. regulated


A. things

B. items

C. property


A. remittance

B. acceptance

C. dispatch

D. maturity




C. currency changes







A. collaborate

B. compete

C. practice

D. deal


A. bought up

B. eaten up

C. chewed up


105



A. buy-out

B. buy-up

C. buy-in


A. money

B. finances







31. To merge with or take over other firms producing the same type of goods or

services









the remaining cargo

D. A and C








A. bill of exchange


C. bill of lading

D. declaration


106


A. venture capital


C. start capital














A. turning

B. turn-round

C. turn back

D. turnover


A. mass market

B. up market

C. niche market

D. supermarket













107


A. Franchise

B. Contract

C. License

D. Agreement


A. inflation

B. expansion

C. evolution


A. insurer

B. insured

C. insurance







A. cross-boundary

B. cross-border

C. cross-state

47. ………… arises when a firm duplicates its home country-based activities at the

same value chain stage in a host country through FDI.

A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


A. Captain

B. Exporter

C. Shipping company

D. Agent



B. the importer

C. the exporter



108


A. underwriters

B. undertakers

C. underpasses


109

TEST 15



B. test certificate

C. postmark

D. trade mark


country?



C. deficit

D. surplus



A. a willingness

B. a readiness

C. a debit advice

D. an undertaking



A. A merger

B. An acquisition

C. An integration

D. A raid

5. ………… means operating all over the world while taking account of local

cultural habits, beliefs and principles in each country or market.

A. Globalization

B. Glocalization

C. Privatization

D. Nationalization



A. market analysis


C. marketing

D. market research


110


A. DDP

B. CIP

C. CIF



A. An invoice


C. A bill of lading

D. A draft


A. ripen

B. mature

C. flourish

D. break



A. Incoterm

B. Contract



freight?

A. The exporter

B. The buyer.




A. signs

B. forwards

C. remits

D. defers







111


whichever is first.

A. in case of

B. if

C. in the event of


A. tendered

B. offered

C. given prices


A. annual turnover

B. profit margin

C. cash flow

D. bank charges

17. ………… is open-ended.

A. tailor-made

B. floating

C. open cover







…………

A. A

B. B

C. C


A. surplus

B. deficit

C. autarky

D. deficits






112







A. Premium

B. life insurance

C. marine insurance

D. compensation


A. threats

B. pitfalls

C. attraction

D. benefits


A. Captain

B. Exporter

C. Shipping company

D. Agent







A. arbitration

B. litigation

C. prevention

D. protection








113








A. loss-getting

B. loss-making

C. loss-having


A. underwriters

B. undertakers

C. underpasses









B. subsidiaries

C. factories

D. colleagues



A. economic

B. sufficient

C. self-sufficient

D. self-financing





country.



114







A. Franchise

B. Contract

C. License

D. Agreement



A. bankrupt

B. indebted

C. penniless



A. An invoice


C. A bill of lading

D. A draft


A. Railway bill.

B. Rail waybill.




A. Hong Kong

B. London

C. Paris

D. Stockholm


separate parts

A. diversifying

B. merging

C. specialization

D. synergy


115


A. TV advertising

B. Word of mouth









A. Spot transaction








D. A & C


A. Boat

B. Sea

C. Navy

D. Marine


carried out.

A. estimate

B. test

C. assessment

D. report



A. multinational

B. venture capital

C. conglomerate



116

50. Natural disasters usually mean that insurance underwriters suffer …………

A. heavy losses

B. high expenses

C. big debts


117

TEST 16







services










A. Premium

B. life insurance

C. marine insurance

D. compensation







A. void

B. valid

C. invaluable

D. priceless



B. Road bill.

C. Roadway bill.



118


A. size


C. measurement

D. high quality




C. currency changes


A. project manager

B. team leader

C. decision maker

D. country manager






A. The exporter.

B. The carrier.

C. The buyer.




A. The exporter

B. The importer

C. The carrier


A. The exporter.


C. The buyer.



A. A

B. B

C. C


119


A. The exporter.

B. The buyer.




happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor



A. rain

B. famine

C. flood

D. storm



A. A merger

B. An acquisition

C. An integration

D. A raid


…………

A. A

B. B

C. C


A. bid

B. price

C. offer




C. the surplus

D. the deficit


120



A. The buyer

B. The carrier

C. The issuing bank



A. dumping

B. revaluing

C. flooding

D. devaluation



A. C and F

B. D and F

C. C and D



B. finance company

C. financier








A. tax

B. quota

C. protectionism

D. tariff








121



A. UCP

B. ADR

C. ICC

D. FAO



A. tailor-made

B. floating

C. open cover


…………


B. profitable

C. competitive

D. efficient


called …………












dumping



prices





122




A. and.

B. or.

C. and/or.

D. Either B or C.







A. exports

B. imports




A. earning

B. return

C. growth

D. performance




C. the surplus

D. the deficit


A. life

B. risk

C. chance

D. misfortune


A. The seller

B. The buyer




123



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid







A. signs

B. forwards

C. remits

D. defers


A. Air waybill.



D. Airway bill.


A. Boat

B. Sea

C. Navy

D. Marine


A. Hong Kong

B. London

C. Paris

D. Stockholm




B. diversification

C. vertical merger

D. backward merger


124


A. A

B. B

C. C


125

TEST 17


A. profit-getting

B. profit-making

C. profit-having





D. A and B

3. The amount payable under an insurance policy is called …………

A. indemnity

B. revenue

C. fee

D. charges


A. A

B. B

C. C

D. C and B


country?



C. deficit

D. surplus


A. insurer

B. insured

C. insurance





country.



126







party.




A. The exporter.

B. The buyer



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

A. clean

B. dirty

C. claused








A. for

B. to

C. of

D. with


A. for an hour

B. an hour

C. the hour


A. loss-getting

B. loss-making

C. loss-having


127



B. forward merger

C. vertical merger

D. backward merger


A. pre-tax profit


C. non-tax profit

17. ………… prohibits corporations from cornering a market.

A. Anti dumping

B. Anti-trust legislation

C. Monopoly

D. Exclusion



A. duties

B. output

C. activity

D. compensation




B. Wrong.







B. test certificate

C. postmark

D. trade mark


A. A

B. B

C. C


128


A. TV advertising

B. Word of mouth









A. venture capital


C. start capital




B. diversification

C. vertical merger

D. backward merger







…………

A. functional areas


C. product lines




A. An invoice


C. A bill of lading

D. A draft


129








A. dumping

B. revaluing

C. flooding

D. devaluation


A. cross-boundary

B. cross-border

C. cross-state




C. the surplus

D. the deficit








A. A merger

B. An acquisition

C. A takeover bid

D. A raid




B. Open account


D. Advance payment


130


buyer


B. Open account


D. Advance payment


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.



B. Lengthy and open


D. Time - consuming


A. heavy losses

B. high expenses

C. big debts


A. collect products


C. transport

D. all of the above


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank


A. A

B. B

C. A,B,C


A. money

B. finances



131






45. Because of high shipping costs, it made more sense to ………… a manufacturer

to produce our range of furniture

A. license

B. lease

C. control

D. handle




B. diversification

C. vertical merger

D. backward merger







A. mass market

B. up market

C. niche market

D. supermarket


A. Railway bill.

B. Rail waybill.




A. bid

B. price

C. offer


132

TEST 18


A. insurer

B. insured

C. insurance


A. The seller

B. The buyer





A. A merger

B. An acquisition

C. An integration

D. A raid



B. test certificate

C. postmark

D. trade mark


A. Hong Kong

B. London

C. Paris

D. Stockholm












133












C. the surplus

D. the deficit



B. forward merger

C. vertical merger

D. backward merger


A. profit-getting

B. profit-making

C. profit-having



A. favorable

B. heavily

C. perfectly

D. grossly


A. Goods

B. commodity

C. bulk

D. items


A. loss-getting

B. loss-making

C. loss-having


134



A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid



A. Bill of exchange

B. invoice




A. The shipper.

B. The exporter.


D. The buyer.





D. All of the above


A. exports

B. imports




…………

A. a small yen

B. a bad yen

C. a weak yen


A. the consumer

B. the distributer


D. the salesman


135



A. makes

B. does

C. puts

D. sells


…………


B. profitable

C. competitive

D. efficient


A. A

B. B

C. C



B. the importer

C. the exporter




A. economic

B. sufficient

C. self-sufficient

D. self-financing







A. grace

B. favour

C. way

D. permission


136


A. tax

B. quota

C. protectionism

D. tariff




C. the surplus

D. the deficit





the remaining cargo

D. A and C


A. controlled

B. checked

C. regulated


A. Premium

B. life insurance

C. marine insurance

D. compensation



A. market analysis


C. marketing

D. market research


buyer.


B. Open account


D. Advance payment


137



A. duties

B. output

C. activity

D. compensation



A. their culture

B. local conditions

C. local culture

D. local people



A. Globalization

B. Glocalization

C. Privatization

D. Nationalization


buyer


B. Open account


D. Advance payment




C. duties and taxes





C. currency changes


A. tax heaven

B. tax haven

C. tax paradise


138





D. A & C




B. diversification

C. vertical merger

D. backward merger


ordinary people.

A. premiums

B. policies

C. rates

D. invoices

















A. profit

B. surplus

C. revenue

D. earnings


139


called …………






140

TEST 19





country.



A. project manager

B. team leader

C. decision maker

D. country manager


…………

A. A

B. B

C. C

D. A and B

4. Average clause in the policy defines the ………… of the cover under the

insurance

A. time

B. extent

C. amount

D. money


called …………






contract.


B. Corporate law

C. National law

D. Business law


141


A. tendered

B. offered

C. given prices


A. The shipper.

B. The exporter.


D. The buyer.







A. loss-getting

B. loss-making

C. loss-having


A. 1990

B. 2000

C. 2010


A. The Buyer

B. The Seller

C. The agent



A. life

B. risk

C. chance

D. misfortune







142







A. owe you

B. pay you back

C. must return



A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek









A. Exporter

B. Importer

C. Bank



importer.


B. Letter of credit

C. Advance payment

D. Open account


A. Franchise

B. Contract

C. License

D. Agreement


143


A. a raid

B. a takeover bid

C. a merger

D. an acquisition


A. Insurer

B. Importer

C. Exporter


A. hire/rent

B. hire/hire



A. Surplus

B. deficit

C. autarky

D. deficits



A. buy-out

B. buy-up

C. buy-in


A. DDP

B. CIP

C. CIF


A. tax heaven

B. tax haven

C. tax paradise


borrowed

A. Interest rate

B. A collateral

C. mortgage

D. Inflation rate


144


happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor



A. Globalization

B. Glocalization

C. Privatization

D. Nationalization







A. mass market

B. up market

C. niche market

D. supermarket


company

A. proposition

B. application

C. enrolment

D. proposal


high unemployment.

A. grant

B. money

C. payment

36. A person who receives an international payment is called the …………

A. getter

B. beneficiary

C. receiver


145


…………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition




C. duties and taxes



A. The exporter.

B. The carrier.

C. The buyer.


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






freight?

A. The exporter

B. The buyer.






B. Open account


D. Advance payment



B. finance company

C. financier


146


A. 1

B. 2

C. 3

45. Unlike quotas, tariffs produce ………… for the government.

A. profit

B. surplus

C. revenue

D. earnings








A. a willingness

B. a readiness

C. a debit advice

D. an undertaking


A. breaker

B. broker

C. speculator

D. merchant


A. canal

B. water-road

C. river road

D. road



A. An invoice


C. A bill of lading

D. A draft


147

TEST 20


A. A

B. B

C. C

D. C and B



A. Globalization

B. Glocalization

C. Privatization

D. Nationalization


A. surplus

B. deficit

C. autarky

D. deficits



to satisfy their needs and wants.


B. Counties probably export the goods which are not efficiently produced.





contract.


B. Corporate law

C. National law

D. Business law



A. C and F

B. D and F

C. C and D


148


A. The exporter.

B. The carrier.

C. The buyer.








A. The Buyer

B. The Seller

C. The agent






D. All of the above



A. An invoice


C. A bill of lading

D. A draft




C. the surplus

D. the deficit



A. Revolving L/C





149


A. collect products


C. transport

D. all of the above


A. money

B. finances



A. venture capital


C. start capital

17. A merger with or the acquisition of one‟s marketing outlets is known as ………


B. forward merger

C. vertical merger

D. backward merger



A. Goods

B. Raw materials

C. Productivity

D. Commodities





D. A & C


A. sentence

B. phrase

C. clause


A. A

B. B

C. C


150



A. buy-out

B. buy-up

C. buy-in

23. 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


A. Air waybill.



D. Airway bill.

25. Factors considered when choosing the modes of transportation are …………












A. makes

B. does

C. puts

D. sells


happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor


151


A. The seller

B. The buyer














importer


B. Letter of credit

C. Advance payment

D. Open account


A. earning

B. return

C. growth

D. performance



A. multinational

B. venture capital

C. conglomerate





C. duties and taxes



152



A. adapted

B. linked

C. indicated

D. dependent


A. ripen

B. mature

C. flourish

D. break



B. the importer

C. the exporter




A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek


clearly his fault

A. legality

B. likelihood

C. liability

D. crime



B. Lengthy and open


D. Time - consuming


high unemployment.

A. grant

B. money

C. payment


153


A. 1990

B. 2000

C. 2010


A. With risks


C. On board


A. A

B. B

C. C


A. remittance

B. acceptance

C. dispatch

D. maturity


A. 1

B. 2

C. 3


A. canal

B. water-road

C. river road

D. road

49. What agreement is usually made in an insurance contract?

A. An agreement to make payment in the event of loss or damage

B. An agreement to make decisions in the event of loss or damage

C. An agreement to make contribution in the event of loss or damage

D. An agreement to pay compensation in the event of loss or damage



A. front value

B. face value

C. written value


154

TEST 21


country?



C. deficit

D. surplus



A. duties

B. output

C. activity

D. compensation



A. dumping

B. revaluing

C. flooding

D. devaluation

4. The amount payable under an insurance policy is called …………

A. indemnity

B. revenue

C. fee

D. charges





company

D. A and C








155










A. tax

B. quota

C. protectionism

D. tariff








A. tax heaven

B. tax haven

C. tax paradise

11. In Japan, the US dollar is …………

A. foreign money

B. strange money

C. a foreign currency


A. defaulted

B. deferred

C. declines

D. denied


A. Franchise

B. Contract

C. License

D. Agreement


156


buyer.


B. Open account


D. Advance payment



A. economic

B. sufficient

C. self-sufficient

D. self-financing


A. tendered

B. offered

C. given prices


country

A. justification

B. rules

C. specifications

D. uniforms

18. A takeover of a foreign company is known as a ………… deal

A. cross-boundary

B. cross-border

C. cross-state

D. cross-culture


…………

A. overseas

B. over-water

C. over-waves







157


ordinary people.

A. premiums

B. policies

C. rates

D. invoices


freight?

A. The exporter

B. The buyer.




A. heavy losses

B. high expenses

C. big debts

24. Average clause in the policy defines the ………… of the cover under the

insurance

A. time

B. extent

C. amount

D. money











services






158


A. A

B. B

C. C

D. A and B


A. insurer

B. insured

C. insurance












A. collect products


C. transport

D. all of the above

33. Sometimes it seems that large companies change their organization and carry

out a ………… process every few years.

A. restructuring

B. decentralization

C. merger

D. takeover








159


dumping



prices










A. Boat

B. Sea

C. Navy

D. Marine


…………

A. a small yen

B. a bad yen

C. a weak yen


A. for

B. to

C. of

D. with


A. void

B. valid

C. invaluable

D. priceless


A. profit-getting

B. profit-making

C. profit-having


160














A. asset stripping

B. An acquisition

C. A takeover bid

D. A raid


A. signs

B. forwards

C. remits

D. defers


country?



C. deficit

D. surplus

47. War risk is not included in …………

A. A clause

B. B clause

C. A,B,C clause


A. Premium

B. life insurance

C. marine insurance

D. compensation


161


A. 1

B. 2

C. 3





D. All of the above


162

TEST 22





D. A and B


importer.


B. Letter of credit

C. Advance payment

D. Open account




A. and.

B. or.

C. and/or.

D. Either B or C.


A. remittance

B. acceptance

C. dispatch

D. maturity

5. It‟s better to start exporting on a small ………… and then expand if things go

well.

A. measure

B. measurement

C. scale

D. rate








163


A. A

B. B

C. C

D. C and B







A. profit

B. surplus

C. revenue

D. earnings


A. threats

B. pitfalls

C. attraction

D. benefits








A. Exporter

B. Importer

C. Bank



ordinary people.

A. premiums

B. policies

C. rates

D. invoices


164







A. off

B. out

C. down

D. up


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank

17. If a country has a ………… currency, importers and exporters may have to

keep changing the prices of their goods.

A. swimming

B. flying

C. flowing

D. floating


A. life

B. risk

C. chance

D. misfortune



A. Average clause


C. General average



A. The seller

B. The buyer




165




C. duties and taxes




A. FAS Beira

B. CIF Beira



buyer.


B. Open account


D. Advance payment


A. Railway bill.

B. Rail waybill.




A. range

B. branch

C. rank

D. standard







company

A. proposition

B. application

C. enrolment

D. proposal


166







A. Delivery

B. Payment

C. Arrival











A. venture capital


C. start capital


clearly his fault

A. legality

B. likelihood

C. liability

D. crime







A. controlled

B. checked

C. regulated


167




B. Open account


D. Advance payment


country?



C. deficit

D. surplus

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

A. The buyer.

B. The exporter.

C. The carrier.




B. the importer

C. the exporter



A. Franchise

B. Contract

C. License

D. Agreement







A. arbitration

B. litigation

C. prevention

D. protection


168



A. favorable

B. heavily

C. perfectly

D. grossly



A. front value

B. face value

C. written value












A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


…………

A. functional areas


C. product lines




A. speculating

B. arbitrating

C. hedging

D. trading


169


A. A

B. B

C. C


A. bought up

B. eaten up

C. chewed up


170

TEST 23


buyer.


B. Open account


D. Advance payment


A. annual turnover

B. profit margin

C. cash flow

D. bank charges


A. The exporter.


C. The buyer.



A. Goods

B. commodity

C. bulk

D. items











A. recruit staff

B. cut costs


D. reduce salaries


171


A. The Buyer

B. The Seller

C. The agent



A. void

B. valid

C. invaluable

D. priceless












B. subsidiaries

C. factories

D. colleagues



return


B. Open account


D. Advance payment



A. rain

B. famine

C. flood

D. storm


172


A. off

B. out

C. down

D. up


A. Air waybill.



D. Airway bill.



A. speculating

B. arbitrating

C. hedging

D. trading









A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


A. breaker

B. broker

C. speculator

D. merchant


A. deals with

B. contacts

C. works for


173



A. makes

B. does

C. puts

D. sells



A. gold system

B. gold standard

C. gold value

D. gold convertible





D. A & C


whichever is first.

A. in case of

B. if

C. in the event of


A. over

B. against

C. with

D. from


A. exports

B. imports



27. The person the goods are sent to is called a …………

A. consignor

B. consignee

C. commissioner

D. master


174



B. Lengthy and open


D. Time - consuming



A. their culture

B. local conditions

C. local culture

D. local people


A. ripen

B. mature

C. flourish

D. break




B. diversification

C. vertical merger

D. backward merger



A. market analysis


C. marketing

D. market research


A. foreign money

B. strange money




A. bankrupt

B. indebted

C. penniless


175








B. finance company

C. financier


A. 1

B. 2

C. 3


…………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition


happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor


trade …………

A. balance

B. loss

C. debit

D. deficit








176



B. test certificate

C. postmark

D. trade mark


A. arbitration

B. litigation

C. prevention

D. protection


A. The buyer.

B. The exporter.

C. The carrier.



contract

A. speculating

B. arbitrating

C. hedging

D. trading



A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek

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







A. dumping

B. revaluing

C. flooding

D. devaluation


177


A. grace

B. favour

C. way

D. permission


A. loss-getting

B. loss-making

C. loss-having


178

TEST 24



A. duties

B. output

C. activity

D. compensation









B. Open account


D. Advance payment


A. Captain

B. Exporter

C. Shipping company

D. Agent



A. multinational

B. venture capital

C. conglomerate






to as a subsidiary.




179










A. threats

B. pitfalls

C. attraction

D. benefits


A. The exporter.

B. The buyer.




A. TV advertising

B. Word of mouth









A. hire/rent

B. hire/hire








180


A. breaker

B. broker

C. speculator

D. merchant


A. Surplus

B. deficit

C. autarky

D. deficits


A. tax

B. quota

C. protectionism

D. tariff


A. deals with

B. contacts

C. works for


A. clean

B. clear

C. claused



B. Royalty payment

C. Property charges

D. Royalty fees


A. off

B. out

C. down

D. up


A. controlled

B. checked

C. regulated


181











C. Bonus



…………

A. functional areas


C. product lines






country.




return


B. Open account


D. Advance payment


A. The seller

B. The buyer




182



A. speculating

B. arbitrating

C. hedging

D. trading

29. After dispatching the goods, the exporter ………… the documents to his bank.

A. demands

B. collects

C. issues

D. presents







A. owe you

B. pay you back

C. must return


A. Premium

B. life insurance

C. marine insurance

D. compensation







B. finance company

C. financier


A. central

B. first

C. core


183




C. the surplus

D. the deficit


A. size


C. measurement

D. high quality


A. a raid

B. a takeover bid

C. a merger

D. an acquisition


A. A

B. B

C. C


dumping



prices





A. insurer

B. insured

C. insurance


A. ripen

B. mature

C. flourish

D. break


184



A. A merger

B. An acquisition

C. An integration

D. A raid


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. The buyer

B. The carrier

C. The issuing bank


A. for

B. to

C. of

D. with



A. Globalization

B. Glocalization

C. Privatization

D. Nationalization







…………

A. a big peso

B. a good peso

C. a strong peso


185


A. profit-getting

B. profit-making

C. profit-having


186

TEST 25



A. Globalization

B. Glocalization

C. Privatization

D. Nationalization



A. The buyer

B. The carrier

C. The issuing bank


A. bid

B. price

C. offer


A. Collateral

B. Mortgage

C. Warranty

D. Guarantee


A. The buyer.

B. The exporter.

C. The carrier.









B. test certificate

C. postmark

D. trade mark


187








A. defaulted

B. deferred

C. declines

D. denied


A. Anti dumping


C. Monopoly

D. Exclusion



A. market analysis


C. marketing

D. market research



A. swimming

B. flying

C. flowing

D. floating


A. Hong Kong

B. London

C. Paris

D. Stockholm


A. venture capital


C. start capital


188


whichever is first.

A. in case of

B. if

C. in the event of


A. off

B. out

C. down

D. up



return.


B. Open account


D. Advance payment




C. confidentiality




A. A merger

B. An acquisition

C. A takeover bid

D. A raid


A. clean

B. clear

C. claused



A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


189




A. and.

B. or.

C. and/or.

D. Either B or C.








A. The exporter.

B. The buyer.




…………

A. A

B. B

C. C


A. 1

B. 2

C. 3







A. project manager

B. team leader

C. decision maker

D. country manager


190



A. their culture

B. local conditions

C. local culture

D. local people



A. restructuring

B. decentralization

C. merger

D. takeover










D. All of the above



A. Incoterm

B. Contract




B. Bias

C. Low costs








191


A. A

B. B

C. C








customers may want.


B. Product concept


D. Selling concept


A. range

B. branch

C. rank

D. standard













A. canal

B. water-road

C. river road

D. road


192


A. foreign money

B. strange money






to as a subsidiary.





return


B. Open account


D. Advance payment


dumping



prices




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







A. gold system

B. gold standard

C. gold value

D. gold convertible


193


A. With risks


C. On board







194

TEST 26




C. the surplus

D. the deficit


A. diversifying

B. merging

C. specialization




B. finance company

C. financier










A. threats

B. pitfalls

C. attraction

D. benefits


dumping.



prices.





195


A. The shipper.

B. The exporter.


D. The buyer.


…………

A. a big peso

B. a good peso

C. a strong peso



A. a shipper

B. a client

C. a broker

D. an insurer



A. CFR Lusaka

B. CPT Lusaka

C. CFR Nairobi


A. Anti dumping


C. Monopoly

D. Exclusion


A. The exporter.

B. The buyer.




clause …………

A. A

B. B

C. C

D. B and C


196



A. CIF Windhoek

B. CIP Windhoek

C. DEQ Windhoek


A. Spot transaction










A. surplus

B. deficit

C. autarky

D. deficits


A. How many arbitrators sit in the court?

B. What is the language of the court?

C. Where is the place of the court?

D. All of the above


dumping



prices





A. owe you

B. pay you back

C. must return


197








A. their culture

B. local conditions

C. local culture

D. local people



A. swimming

B. flying

C. flowing

D. floating



B. subsidiaries

C. factories

D. colleagues



B. the importer

C. the exporter













198



A. bill of lading

B. way-bill

C. bill of exchange

D. receipt


A. cross-boundary

B. cross-border

C. cross-state




A. and.

B. or.

C. and/or.

D. Either B or C.









A. tailor-made

B. floating

C. open cover


A. range

B. branch

C. rank

D. standard


A. for an hour

B. an hour

C. the hour


199














B. Continental law


D. National law



A. duties

B. output

C. activity

D. compensation


A. exports

B. imports




A. bid

B. price

C. offer



A. rain

B. famine

C. flood

D. storm


200


A. Insurer

B. Importer

C. Exporter



A. economic

B. sufficient

C. self-sufficient

D. self-financing


…………


B. profitable

C. competitive

D. efficient


…………


B. forward merger

C. vertical merger

D. backward merger


A. 1

B. 2

C. 3



A. restructuring

B. decentralization

C. merger

D. takeover


high unemployment.

A. grant

B. money

C. payment


201




A. Horizontal FDI

B. Platform FDI

C. Vertical FDI







202

TEST 27


A. bought up

B. eaten up

C. chewed up


A. A

B. B

C. A, B, C

















6. Companies with very different products often have a structure based on ………

A. functional areas


C. product lines



…………


B. profitable

C. competitive

D. efficient


203




C. All protectionist policies have the same effect on the market.

D. Workers are always opposed to protectionism.


A. 1990

B. 2000

C. 2010

D. 1990 and 2000



B. Royalty payment

C. Property charges

D. Royalty fees


A. money

B. finances



A. 1

B. 2

C. 3


A. The shipper.

B. The exporter.


D. The buyer.


A. grace

B. favour

C. way

D. permission


A. hire/rent

B. hire/hire



204



A. their culture

B. local conditions

C. local culture

D. local people


called …………






















party.









205


A. Seaway bill.

B. Ocean bill.

C. Sea waybill.


separate parts

A. diversifying

B. merging

C. specialization

D. synergy



A. A merger

B. An acquisition

C. A takeover bid

D. A raid







A. arbitration

B. litigation

C. prevention

D. protection



A. favorable

B. heavily

C. perfectly

D. grossly


A. canal

B. water-road

C. river road

D. road


206




B. diversification

C. vertical merger

D. backward merger


freight?

A. The exporter

B. The buyer.




contract

A. speculating

B. arbitrating

C. hedging

D. trading













A. heavy losses

B. high expenses

C. big debts


A. sentence

B. phrase

C. clause


207


A. tax

B. quota

C. protectionism

D. tariff



B. Yes, there is.



this information.



A. bankrupt

B. indebted

C. penniless


…………

A. A

B. B

C. C


A. Hong Kong

B. London

C. Paris

D. Stockholm


happen.

A. lose a job

B. make a mistake

C. lose face

D. receive a favor





D. A & B


208


A. With risks


C. On board



A. Exporter

B. Importer

C. Bank



A. The Buyer

B. The Seller

C. The agent









A. An invoice


C. A bill of lading

D. A draft



A. Average clause


C. General average



A. The exporter.

B. The carrier.

C. The buyer.



209



return


B. Open account


D. Advance payment


210

TEST 28














A. 1990

B. 2000

C. 2010

















A. inflation

B. expansion

C. evolution


211



A. recruit staff

B. cut costs

C. increasing advertising

D. reduce salaries


insured vehicle

A. identify

B. respect

C. indemnify

D. engage

10. 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%.


A. deals with

B. contacts

C. works for












A. The Buyer

B. The Seller

C. The agent



212


A. The buyer.

B. The exporter.




A. defaulted

B. deferred

C. declines

D. denied







A. The exporter.


C. The buyer.



A. Insurer

B. Importer

C. Exporter



A. The exporter

B. The importer

C. The carrier


A. clean

B. clear

C. claused


A. controlled

B. checked

C. regulated


213


A. diversifying

B. merging

C. specialization



A. Franchise

B. Contract

C. License

D. Agreement








A. bill of lading

B. way-bill

C. bill of exchange

D. receipt













A. restructuring

B. decentralization

C. merger

D. takeover


214


A. a raid

B. a takeover bid

C. a merger

D. an acquisition




A. Horizontal FDI

B. Platform FDI

C. Vertical FDI


A. collaborate

B. compete

C. practice

D. deal



A. An invoice


C. A bill of lading

D. A draft




B. Open account


D. Advance payment







A. money

B. finances



215



A. economic

B. sufficient

C. self-sufficient

D. self-financing


ordinary people.

A. premiums

B. policies

C. rates

D. invoices

39. The Japanese yen is trading for less than its usual value. You can talk about …

A. a small yen

B. a bad yen

C. a weak yen


trade …………

A. balance

B. loss

C. debit

D. deficit


buyer.


B. Open account


D. Advance payment


A. A

B. B

C. C


A. A

B. B

C. C

D. A and B


216


A. Spot transaction





A. earning

B. return

C. growth

D. performance








return.


B. Open account


D. Advance payment



B. Lengthy and open


D. Time - consuming

49. All mergers aim to create ………… for the two companies‟ shareholders.

A. added value

B. lower costs

C. economies of scale

D. tax benefits


A. over

B. against

C. with

D. from


217

TEST 29




B. Open account


D. Advance payment


A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank



A. A merger

B. An acquisition

C. A takeover bid

D. A raid



customers may want.


B. Product concept


D. Selling concept


A. defaulted

B. deferred

C. declines

D. denied


called …………






218













A. FAS Beira

B. CIF Beira










A. and.

B. or.

C. and/or.

D. Either B or C.


…………

A. a big peso

B. a good peso

C. a strong peso







219



B. finance company

C. financier







A. insurer

B. insured

C. insurance




C. confidentiality



A. A

B. B

C. C

D. A and B



B. subsidiaries

C. factories

D. colleagues


A. tendered

B. offered

C. given prices


A. The exporter.

B. The buyer




220


whichever is first.

A. in case of

B. if

C. in the event of







A. ripen

B. mature

C. flourish

D. break



A. CFR Lusaka

B. CPT Lusaka

C. CFR Nairobi



return


B. Open account


D. Advance payment


A. off

B. out

C. down

D. up


A. profit

B. surplus

C. revenue

D. earnings


221




C. currency changes


A. TV advertising

B. Word of mouth




A. Premium

B. life insurance

C. marine insurance

D. compensation



B. Yes, there is.



this information.







contract

A. speculating

B. arbitrating

C. hedging

D. trading


…………

A. a raid

B. a takeover bid

C. a merger

D. an acquisition


222


A. the consumer

B. the distributer


D. the salesman








A. profit-getting

B. profit-making

C. profit-having


A. Goods

B. commodity

C. bulk

D. items





C. Bonus



A. Air waybill.



D. Airway bill.


borrowed

A. Interest rate

B. A collateral

C. mortgage

D. Inflation rate


223



A. buy-out

B. buy-up

C. buy-in


A. over

B. against

C. with

D. from


…………


B. Combined bill.





A. a willingness

B. a readiness

C. a debit advice

D. an undertaking


A. The buyer.

B. The exporter.









A. 1990

B. 2000

C. 2010

D. 1990 and 2000


224


A. cross-boundary

B. cross-border

C. cross-state


225

TEST 30


A. loss-getting

B. loss-making

C. loss-having

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

A. The shipper.

B. The exporter.


D. The buyer.



A. UCP

B. ADR

C. ICC

D. FAO




C. duties and taxes








A. Collecting bank

B. Issuing bank

C. Confirming bank

D. Advising bank







226
















A. grace

B. favour

C. way

D. permission


A. central

B. first

C. core







A. The exporter.


C. The buyer.



A. foreign money

B. strange money



227








A. annual turnover

B. profit margin

C. cash flow

D. bank charges


A. arbitration

B. litigation

C. prevention

D. protection













A. gold system

B. gold standard

C. gold value

D. gold convertible


A. threats

B. pitfalls

C. attraction

D. benefits


228



A. Revolving L/C





A. inflation

B. expansion

C. evolution


country?



C. deficit

D. surplus




B. diversification

C. vertical merger

D. backward merger



A. FAS Beira

B. CIF Beira




A. bankrupt

B. indebted

C. penniless


A. The buyer.

B. The exporter.

C. The carrier.



229


A. sentence

B. phrase

C. clause


A. A

B. B

C. A, B, C







A. heavy losses

B. high expenses

C. big debts


A. Surplus

B. deficit

C. autarky

D. deficits


A. life

B. risk

C. chance

D. misfortune


A. A

B. B

C. C

D. C and B


A. How many arbitrators sit in the court?

B. What is the language of the court?

C. Where is the place of the court?

D. All of the above


230


…………


B. Combined bill.





A. a shipper

B. a client

C. a broker

D. an insurer



A. multinational

B. venture capital

C. conglomerate



buyer


B. Open account


D. Advance payment


freight?

A. The exporter

B. The buyer.






A. and.

B. or.

C. and/or.

D. Either B or C.


231



B. Yes, there is.



this information.


A. Spot transaction





A. diversifying

B. merging

C. specialization



A. tax

B. quota

C. protectionism

D. tariff


A. for an hour

B. an hour

C. the hour


A. tax heaven

B. tax haven

C. tax paradise


arbitration: …………

A. shipping, insurance and commodities

B. shipping, commodities and construction

C. shipping, commodities and raw materials

D. construction, commodities and goods