GSM 1st Opp-2019 SECTION A: MULTIPLE AND TRUE OR FALSE QUESTIONS

QUESTION 1: MULTIPLE CHOICE QUESTIONS [14 marks]

1.7 Which of the following is a political restriction on international trade? (2 marks)

a) Embargoes

b) Barring certain types of shipments

c) Non-tariff barriers

d) All of the above

1.8 A is similar in nature to a domestic bill of lading and summarizes the entire transaction. [2 marks]

a) Shipper's letter of instruction

b) Shipper's export declaration

c) Commercial invoice

d) Certificate of origin

1.9 A often serves as the basis for a company's official export statistics. [2 marks]

a) Certificate of origin

b) Shipper's export declaration

c) Shipper's letter of instruction

d) None of the above

1.10 Incoterms refer to: [2 marks]

a) Terms of sale for international shipments

b) A specific method of payment for international shipments

c) Standardization of international trade terminology

d) All of the above

1.11 Ocean carrier alliances provide two primary benefits to participating members, namely, the sharing of vessel space and [2 marks]

a) Anti-trust immunity

b) The ability to offer shippers a broader service network

c) Lower rates

d) All of the above

1.12 Which of the below is not a retail logistics objectives? [2 marks]

a) Minimize variance

b) Life-Cycle Support

c) Rapid Response

d) All of the above