QUESTION 1 Multiple Choice Questions [ 125=25 Marks] Choose the correct answer for the below. 1. The Namibia Revenue Agency (NamRA) charges customs duty based on the value of the coods imported in the country, this practice is called? A. Ad Valonem B. ASYCUDA C. SAOSOO D. None of the above 2. Which of the following is NOT a risk in ocean shippinc? A. Sinking B. Jettison C. Hilacking D. None of the Mentioned 3. Which of the below is a composition of a transport network? A. Terminals and connections B. Links and connections C. Nodes and connections D. None of the mentioned 4. A client is shipping clothes using air transport. Upon booking the frelght space, OHL informed him that the consignment is charged according to a dimenslonal weight 3,975, the actual weight is 1700 pounds. Which of the following is not a reason why the dimensional weight is set high? A. To penalize those who ship light cartoons B. To make sure that the shippers pay for an inefficient use of space C. To ensure plane's capacity in terms of weight is entirely paid for. D. None of the rsentioned 5. Which of the below has a similar role to that of a non-vessel operating in ocean freight. A. Forwarder; exporter B. Forwarder; carrier C. Consolidator; exporter D. Consolidator; Carrier 6. Which of the following serves the same purpose as an air waybili? A. Air consignment note B. Air conslignees note C. Alr carrier's note D. None of the mentioned 7. Blll of lading is issued by the A. Captain of the vesisel B. Shlpping company C. Customs authority D. Consignor 8. Which of the following statements best describes a general average loss: A. Goods are totally damaged B. Goods are subjected to constructive total loss C. Goods are sacrificed as part of cargo owner's contributing for the general loss of others D. None of the mentioned 9. Which of the following are the two types of marine cargo insurance policy: A. Perili-conly policy and all risks policy B. Perilb-only policy and marine-riak policy C. Marine-risk policy and all-risks policy D. Marine-risk policy and perils-only policy 10. Today's integration of the world economy is driven by advances in and to reduce obstacles to the flow of trade and capital. A. Communications, trade agreement, and government's policy. B. Communications, information technologr and trade agreements C. Communications, information technologr, and governments policy D. Trade agreements, information technologr, and government's policy 11. What main benefits does a shipowner obtain by having a general average absorption clause in his hull policy? A. He can recover general average sacrifice without incurring the deductible. 8. His general average contributions are a ueparate limit of cover. c. He can recover the total general average sacrifice subject to an agreed limit. D. It offers a reduction in premium as the shipowner is taking more riak himselit. 12. How often are Incoterms revised to represent contemporary commercial practice? A. Every 2 vears B. Every 5 vears C. Every 7 vears D. Every 10 years 13. What is the maln task of customs within the maritime industry? A. Collecting and safeguarding customs duties and for controlling the flow of goods including animals, personal effects, and hazardous items in and out of a country. B. Documents verification C. Check if the goods are stolen or not safe D. The protection of the goods on the frontiers 14. A commercial imvice is issued by A. Exporter D. Exporter's bank C. Importer D. Importers bank 15. Which of the following Incoterms is best devcribed by a scenario where the seller undertakes to place the goods on board the ship desionated by the buyer. A. FAS B. CIS C. FOB D. CIP 16. Which of the following statement is a characterlatic of Group E terms: A. Risk is not Transferred to the boyer if damage or loss is attributed to the fallure of delivery B. Risk is not transferred to the seller if damage or loss is atrributed to the fallure of delivery c. The seller bears all risks and charges pertaining to pre-shipment inspection, export/import licenses, and customs duties needed for exploration. D. All of the mentioned 17. Select which is the reason why Namibla trades with other nations A. Trading increases the opportunity for Namibla to accumulate wealth. B. Some nations prefer to produce one thing while others produce other things. C. Some goods are cheaper in some nations compared to others. D. Resources are not equally distributed among all trading nations. 18. The agreement between the charterer and the shipowner in respect of the chartering of a ship is called the A. Charter reglater B. Charter party C. Charter agreement D. Charter contract 19. The destination of the load/where the load is delivered, is known as _ ? A. Shipper B. Carrier C. Conslonee D. Customer 20. What is the other term for international commercial term? A. fcommterm B. Netterm C. Teoterm D. Incoterm 21. A tariff is A. A tax on imports only B. A tax on exports only C. A tax on either imports or exports D. A luxury tax 22. Which of the following International Organization has designed and developed the Harmonized Commodity Description and Coding Syrtem? A. Worid Customs Organization 8. World Trade Organization C. International Customs Organization D. United Nations Customs Organiation 23. The HS Coding System is subjected to revision perlodically after how many years? A. Five B. Ten years C. Never revised D. Two years E. Every year 24. Documentary drafts requilre various shipping documents such as A. Bills of lading B. Insurance certificates C. Commercial involices D. All of the above 25. Which of the following is not true of a letter of credit? A. It is a document B. Issued by a bank C. At the request of the exporter D. The bank agrees to honor a draft drawn on the importer