Question 1: Identify the four functions related with any commercial organization. Give a short description of each of the functions.
Question 2: Give a brief explanation of place of delivery, division of cost and transfer of risk for the exporter under Incoterms 1990 for:
a) DDP – delivered duty paid
b) CIF – cost insurance and freight
c) EXW – ex warehouse
d) FAS – free alongside ship
Question 3: What are the fundamental procedures for declaring dangerous goods?
Question 4: Around 90% of sea cargo is containerized. Identify five main benefits of containerization.
Question 5: Identify the criteria that influence the actual base freight rate quoted by a shipping line.
Question 6: Give a brief explanation of:
a) BAF
b) Ad valorem
c) ULD
d) FAK
Question 7: Under which circumstances would a seller request:
a) Revolving Letter of Credit
b) Transferable Letter of Credit
c) Confirmed Letter of credit
d) Standby Letter of Credit
Question 8: How does pre-shipment inspection assist the international buyer? Illustrate the procedure undertaken by a PSI inspector and recognize the documentation comprised.