Factoring is a commonly used financing solution by exporting companies to convert its foreign receivables into immediate cash by selling them to a factoring house. A factoring house is a:

Question 1 options:

	Company that helps exporters establish credit in a foreign market.
	Company that provides margin-based financing to the exporter for the time the exporter places the receivable into collections with a collections agency
	Company that purchases domestic and foreign receivables and provides immediate payment of the invoice to the exporter, in part or in full.
	Company that helps exporters plan cash flow in a way to extend payables as much as possible while accelerating collection of receivables.

KPMG established in the London with a High Street Office, for its accounting services.

Question 2 options:

	Consumption abroad
	Movement of natural person
	Commercial presence
	Cross border

Ben has been waiting on Toronto General for his hip replacement surgery which keeps getting delayed. He decided to go to Cuba on vacation to do the surgery. Which of the following best describe this mode of export of services.

Question 3 options:

Cross border

Consumption abroad

Commercial Presence

Movement of natural persons

Kings Landing Communications has hired a company that specializes in providing transportation services for shippers. The company they hired has a range of services, including: arranging shipment handling requirements for packing, crating, marking, inspection and storage of shipped goods; prepaying and collecting freight charges; preparing shipping and customs documents; presenting required documents to financial institutions for letters of credit; and, negotiating rates and reservations of transportation space. What type of company has Kings Landing Communications hired?

Question 4 options:

Customs broker

Customs agent

Freight faciliator

Freight forwarder

Which mode of transportation is the preferred choice of shippers to move goods and materials through the supply chain for shorter distances, with smaller loads?

Question 5 options:

	Air transportation
	Road transportation
	Maritime/ocean transportation
	Rail transportation

Question 6 (2 points)

When buyers and suppliers set up their computers using a structured format so they can send and receive standard business documents, such as inventory levels, invoices, purchase orders and price lists, this exchange of data is called which of the following? Even CBSA use this technology to transport customs invoice in advance of shipments entering ports.

Question 6 options:

	EIE
	EDI
	ERP
	EIP

Question 7 (2 points)

Saved

Which of the following documents is considered the most important of all the international shipping documents, and is the final exchange document provided by exporters to importers as a summary of the transaction, itemizing the costs of the goods, transport (if applicable) and any other terms that were agreed upon?

Question 7 options:

	Commercial invoice
	Bill of lading
	Pro-forma invoice
	Dock receipt

Question 8 (2 points)

Saved

In which government department is Canada's National Contact for OECD guidelines for Multinationals, focusing on responsible business conduct.

Question 8 options:

	Citizenship and Immigration
	Canada Revenue Agency
	National Defense
	Global Affairs Canada

Question 9 (2 points)

The Incoterms 2020 rules include eleven categories of seller and buyer obligations that apply during the shipment of goods for an international sales transaction. Which of the following statements best describes these obligations?

Question 9 options:

	They determine when the title of the goods is transferred from the seller to the buyer and they specify when the risk shifts from the seller to the buyer
	They allocate responsibilities and risks between the seller and the buyer, but they are silent on costs
	They allocate responsibilities and costs between the seller and the buyer, but they are silent on liability and risks
	They allocate responsibilities, costs and the risks between the seller and the buyer

Question 10 (2 points)

The Four Pillars of Trade Finance are:

Question 10 options:

	Helping remove any payment risk; understating all global risks; ensuring accurate information; providing financing to exporters.
	Facilitating payment across the globe; providing risk-mitigation; offering a range of financing options to importers and exporters; access to timely information
	Understanding the impact of technology on trade finance; describing the major products and services related to trade finance; Discussing the importance of export credit agencies and international financial institutions in international trade; Describing the importance of adequate planning relative to the financial aspects of international trade
	All of the above

Question 11 (2 points)

A fast fashion company exported its dead stock to Rwanda, selling it below the cost of manufacturing it in Romania. Which unfair trade practice has the company done?

Question 11 options:

	Dumping
	Technical barrier to trade
	Countervailing duty
	Subsidies

Question 12 (2 points)

Saved

Which multilateral agency is responsible for trademarks, trade secrets, copyright, patents, etc

Question 12 options:

	International Labour Office
	World Intellectual Property Organization
	International Trade Centre
	World Trade Organization

Question 13 (2 points)

The blast frozen fish fillets were transported by rail from BC to Alberta. Which of the following chain represents this definition.?

Question 13 options:

	Value chain
	Information supply chain
	Physical supply chain
	Financial supply chain

Question 14 (2 points)

Which of the following is not part of the logistics environment of materials management?

Question 14 options:

	Purchasing
	Distribution & warehousing
	Production planning
	Inventory control

Question 15 (2 points)

Saved

Which of the following plays a role to verify that the documents received are as required in the collection order and forwards them to the importer's bank?

Question 15 options:

	The remitting bank
	The collecting bank
	The drawee
	The principal