Case #2:

Using the following information, answer the following 3 questions:

A shipper has the following cargo and associated freight Costs:

2 x 40-ft containers said to contain iPhone 12 Pro Max.

Invoice value of each container: CAD1,235,000.00

Ocean freight Montreal to Port of Nagoya, Japan: JPY85,032/container

Pre-carriage Ottawa to Montreal: CAD 2,125.00/container

All risk marine premium rate at 0.35%

The exchange rate is CAD1.00 = JPY82.06

How much is the estimated 120% CIF value? *

$2,964,000

$2,970,736.92

$2,476,322.44

$2,981,987.48

$2,971,586.93

What is the amount of insurance premium on this cargo? *

$10,400.55

$8,667.13

$10,436.96

$10,374

$10,397.58

How much is the actual CIF value? *

$2,476,322.44

$2,486,759.40

$2,981,987.48

$2,480,436.96

$2,484,989.57

The issuance of a letter of indemnity holds ____________ harmless against any claims in the context. *

the carrier

the freight forwarder

the shipper

the consignee

All of the above

Which Institute Cargo Clause does not cover war? *

Institute Cargo Clause A

Institute Cargo Clause B

Institute Cargo Clause C

All Institute Cargo Clause A, B and C cover this risk

None of the Institute Cargo Clause A, B and C cover this risk