外贸实务英语课程习题与测试题

外贸实务英语课程习题与测试题I. Answer the following questions.1. How would you define international trade? 2. What are the reasons for international trade? Can you list some of them?3. What is economies of scale? Why does it influence international trade? 4. How do countries benefit from the international trade?5. What are the differences between visible trade and invisible trade? Give a few examples of invisible trade. 6. What do you think of the trade of balance?7. What do trade barriers mean? List some example of trade barriers in international trade. 8. How is international trade regulated now?9. What do trade forms refer to? List some examples of trade forms.10. What can agents be divided into according to the scope of their rights?11. What are the differences between agency and distribution?12. What is the basic characteristic of countertrade? What are the common reasons for countertrade?13. Explain compensation trade.14. What are the differences between compensation trade and counterpurchase?15. What are the differences between exportation and consignment?16. How is the price decided in bidding?17. How can you define trade terms? What are the functions of trade terms?18. What are the trade terms under Incoterms 2000?19. What are the main differences between CFR and CIF?20. Why are “C”-terms different from all other terms?21. What are the characteristics of “D”-terms under Incoterms2000?22. Which trade terms under Incoterms 2000 can be applied to water transport?23. Try to compare the differences between FOB, CFR, CIF and FCA, CPT, CIP.24. How can we choose a proper trade term?25. Why shall we stipulate the name of commodity in a contract clearly? 26. What are the ways of showing quality of commodity in a contract?27. How can we stipulate “sale by sample” in a contract?28. What are FAQ and GMQ?29. What are the ways of measurement for goods in international trade?30. Why shall we include a “more or less clause” in a contract? How to stipulate it in a contract?31. What are the functions of packing in international trade?32. How can we decide which type of packing should be used in a business transaction?33. What modes of transport are usually used in international trade?34. Why is container transport popular in international trade?35. What is international multimodal transport?36. How can we stipulate time of shipment in a contract?37. If different ports of destination are stipulated in a CFR contract, what shall the seller pay more attention to?38. What shall be included in a shipping notice?39. How can we stipulate partial shipment clause for the advantages of the exporter?40. If there is no direct sail to port of destination, how should we stipulate the shipping clause?41. What are the differences of General Average and Particular Average?42. What is the coverage of marine insurance under CIC?43. What is All Risks under CIC?44. How do we take out additional coverage?45. How do we choose proper insurance coverage?46. Is the same coverage of ocean marine insurance used for land transport? If not, what insurance coverage is for land transport? 47. What are the differences between insurance policy and insurance certificate?48. What are the characteristics of an open policy?49. What factors shall be taken into consideration when pricing in international trade?50. What are included in a unit price clause?51. What are the functions of price terms?52. What is the relationship between money of account and money of payment?53. Is hard currency as money of payment more favorable to the exporter? Why?54. Why does exchange rate influence international trade greatly?55. What are commission and discount? How can they affect price?56. Give one example for commission-included price and discount-included price respectively. 57. What is the main advantage of L/C?58. What are the types of L/C?59. What are the instruments of payment commonly used for international trade?60. Please describe D/A and D/P. 61. Under what conditions can collection be used in international trade?62. What is a draft?63. How can we decide which term of payment we shall use?64. Arrange the order of terms of payment mentioned in the text as far as the sellers benefit is concerned.65. What are the ways to stipulate the place and time of inspection?66. How does one decide the place and time of inspection?67. Why should a penalty clause be included in a contract sometimes?68. How can one settle the claims?69. What is force majeure? And how does it influence the international trade?70. What is arbitration? And what will be included in an arbitration clause?71. What is the force of an arbitration award?72. Who will bear the arbitration fee?73. Why is it necessary to examine L/C and make amendment to L/C?74. What are the parties involved in an L/C?75. What is the relationship of opening bank and advising bank?76. Why shall the seller notify the buyer to apply for the opening of L/C sometimes?77. How can the buyer apply for the opening of L/C?78. What are the emphasis of examination of L/C for both the banks and the trade company?79. What is the process of amendment to L/C?80. Who will bear the fee of amendment to L/C?81. Why is inspection of commodity necessary in international trade?82. What are the three standards for commodity inspection?83. Explain the mechanics of inspection in China briefly.84. What aspects does inspection on import and export commodities cover?85. How shall the exported commodity be inspected?86. How shall the imported commodity be inspected?87. How to inspect a complete set of equipment in large size when importing them?88. What can inspection certificates be used for?89. What is the role of forwarding agents? 90. What are the procedures of arranging shipment?91. What factors will influence freight rate?92. How can the freight rates for liners be marked with?93. What does open rate mean?94. What are the different transport documents for different modes of transport?95. What is a “Clean on board, to order, blank endorsed B/L”?96. What shall be considered when arranging shipment?97. What factors will influence the insurance coverage?98. What shall the buyer note if the seller takes out insurance under CIF and CIP?99. How to fix the insured amount?100.What factors will influence the premium rate?101.What are the advantages of using an open policy for importers?102.What should the insured pay attention to when apply for insurance?103.Why is sea protest needed when filing a claim?104.How to protect the interests of insurer?105.How does the China Customs examine the goods entering and leaving China?106.What is over-landed cargo? How to deal with such cargoes?107.What is over- carried cargo? How to deal with such cargoes?108.What is the function of a shipping order and a Bill of Lading?109.Why is damaged cargo a matter of interest to the customs?110.Explain general rates and preferential rates.111.How does the customs make customs valuation?112.How does the customs deal with it in the case that the duties are short-levied or over-levied?113.Why is documentation important in international trade?114.What are the four major types of documents classified by ICC?115.What are the requirements for exporting documents?116.What are the procedures for payment under L/C?117.Why is documentation especially important under L/C payment?118.What documents may be needed for payment under L/C?119.What discrepancies should be avoided about draft for payment?120.What are the points to check the bill of lading?121.What may the disputes be about in international trade?122.What are the ways of settling disputes?123.What shall be noted when settling disputes through a third party?124.Why is arbitration commonly used in settlement of international trade disputes?125.What are the procedures for arbitration?126.How to execute the arbitral award?127.What does market claim mean?128.What shall be noted when handling the disputes in international trade?II. True or false questions.1. International trade is only the exchange of goods between nations.2. Countries trade with each other partly because there is a cost advantage.3. Trade means countries can provide a wider variety of products for their consumers.4. International trade can greatly expend the market, which enables the suppliers to take advantage of economies of scale.5. Exchange rate fluctuations may create many problems for international trade.6. Still in some cases, political reasons can outweigh economic considerations between countries.7. When we provide shipping insurance service for foreigners, it can be seen as an example of invisible trade.8. Trade surplus means that a countrys imports exceed its exports.9. Tariff and quotas are the examples of trade barriers.10. Countries can do business freely without regulations in international trade.11. Trade forms include both direct ones like exportation and importation and indirect ones like agency and distribution. 12. An agent needs to carry stock as a distributor does.13. Under the trade form of agency, the principal sets the retail price, retains title and controls the goods.14. There is no contractual relationship between the principal and the customers under trade form of agent.15. The distributor gains profits from the price difference at which he buys and resells the goods.16. Countertrade means the exchange of goods for goods.17. Under partial compensation, the export is paid both by goods and by cash.18. In counterpurchase, the value of countertrade goods has to equal that of the export.19. The goods exported on the consignment remain the title to the exporter.20. The clearing units are available for the purchase of goods from both the creditor country and the debtor country in switch trade. 21. All international business transactions are done under Incoterms 2000. 22. Trade terms can be called price terms because they stand for the price component.23. EXW in Incoterms 2000 is the trade term under which the obligations and costs borne by and risks of the seller are minimum. 24. Under FCA in Incoterms 2000, the risk of loss of or damage to the goods is transferred from the seller to the buyer at the time the buyer accepts the goods.25. Generally speaking, under FOB in Incoterms 2000, it is the sellers responsibility to apply for the export license and pay the export duty. 26. Under FOB San Francisco, San Francisco is the port of destination.27. Under CIF, cargo insurance is to be effected by the buyer.28. The buyer has more responsibilities, costs and risks when using FOB than using CIF.29. The “D”-terms mean arrival contracts, while the “C”-terms evidence departure (shipment) contracts.30. The DDP should not be used if the seller is unable to obtain import license directly or indirectly.31. Different commodities have different qualities, but the same commodity must have the same quality.32. A term for defining one particular degree of quality in one country may have quite a different meaning in another country.33. Whether sale by buyers sample or by sellers sample, the quality of the commodities should be strictly same as sample. Otherwise, it should be stipulated in the contract clearly. 34. The grade of the same product is always the same in different countries.35. Different ways of measurement such as by weight, by length, by area, by volume and by capacity may be used for different products. 36. In reality, the quantity of goods shipped must be exactly the same with that stipulated in the contract. 37. Packing can only serve as a form of protection.38. Packing should be designed according to the need of the cargo.39. Generally speaking, more packing is required for containerized consignments.40. Bulk cargoes require little packing.41. Sea transport is the most important mode of transport in international trade now. 42. The freight of liners is relatively fixed, while the freight of tramps is mainly determined by the market.43. Multimodal transport means the goods are carried by at least two modes of transport under at least two multimodal transport operators. 44. Time of shipment in a contract can only be a fixed period of time. 45. If optional ports of destination are stipulated in the contract, the extra freight due to selecting port of destination must be paid by the importer. 46. The notice of shipment under CFR is very important, because the buyer will take out insurance upon receipt of the notice. 47. Partial shipment means that the goods under one contract are shipped in different terms or by different lots.48. In case it was stipulated in the contract that “shipment is made during July and August”, one lot the goods must be shipped in July while another in August.49. If there is no direct sail to the destination, that “transshipment shall be allowed” shall be stipulated in the contract.50. Transshipment may increase the cost of shipment and the possibility of delay in delivery of commodities.51. Cargo transport insurance is to protect the interests of traders from any possible financial losses. 52. The premium charged for the insurance policy is calculated according to the risks involved.53. Two types of risks are covered by ocean marine insurance under CIC: perils of the sea and extraneous risks.54. WPA is a wider cover than FPA.55. In international trade, if All Risks was covered, any loss caused by any reason on the way can be compensated by insurance company. 56. The additional coverage can be taken out separately.57. The insurance coverage of ICC (A), ICC (B), ICC (C) is roughly the same as that of FPA, WPA, All Risks under CIC respectively.58. It is the best way to choose a large insurance coverage.59. Land Transportation Risk is almost equivalent to WPA. 60. When a number of consignments of similar export goods are intended to be covered, open policy is a better method.61. A unit price consists of four parts: currency unit, unit price figure, measuring unit and price terms.62. Both money of account and money of payment must be stipulated in the contract clearly. 63. The fluctuations of exchange rates may influence the interests of both exporter and importer.64. Generally, the price of a foreign exchange is expressed in another currency.65. Generally speaking, the exporter likes to use hard currency as payment currency. 66. Commission refers to service fees, while discount is a certain percent of price reduction. 67. Commission and discount must be stipulated in the price clause in a contract.68. According to whether the price includes commission or not, the price can be divided into net price and commission-included price.69. Discount is usually used as a means of promoting and expanding sales.70. “USD200 per M/T CIFC2 London” means that the seller will receive 200 US dollars for per metric ton.71. There are three parties involved in a draft, while two parties in a promissory note.72. Remittance involves four parties together.73. An L/C is a conditional bank undertaking of payment, and refers to bankers credit.74. An L/C is an irrevocable one if it does not stipulate whether it is irrevocable or revocable in it according to UCP 600. 75. The seller prefers a confirmed L/C to an unconfirmed L/C. 76. The payee and the drawer of a draft used in international trade must be the same person, that is, exporter.77. A check can be seen as a special draft. 78. Under the terms of D/A, it is the bank in exporters country who makes acceptance to the draft and delivers documents to the importer.79. As to the seller, the risk of D/A 60 days after sight is greater than D/P 60 days after sight.80. In the case of D/P, documents will not be released to the importer until payment is made.81. The agency to inspect the commodities in international trade must be decided by the seller and the buyer.82. When EXW or DDP is used, the commodity is generally inspected in the exporting country.83. All export commodities should be inspected by commodity inspection bureaus. 84. Landed quality and weight means that the inspection carried out at the port of destination will be final. 85. For one contract, the same method of inspection should be used for inspection and reinspection to avoid disputes.86. Once the payment of penalty is made, the contract is no longer to be performed. 87. In international commodity sales contract, penalty and compensation for the losses is the same thing.88. The seller should bear the loss cause by force majeure. 89. Arbitration is the best way to solve problems in international trade.90. The arbitral award once made is the final decision and has the force of law.91. Generally speaking, it is necessary for the buyer to clearly specify a period of validity of the L/C when applying for the opening of L/C.92. The issuing bank should be located in the importers country, while the advising bank should be located in exporters country.93. The buyer will inform the seller the opening of L/C and pass the L/C to the seller.94. The L/C should arrive at the seller several days before the time of shipment.95. It is only the exporter that should examine the L/C.96. All the discrepancies in an L/C should be amended.97. The L/C can be amended directly by applicant and be transferred to the beneficiary.98. If the exporter does not return the unacceptable amendment notification to advising bank within 3 says after he receives it, it will be thought that he has agreed with the amendment.99. When there are more than two changes in L/C amendment, the beneficiary can only accept all or refuse all.100. The amendments should be announced one by one for several times.101. Inspection by manufacturer himself and the certificates of inspection issued by him are usually required in the sales contract. 102. Goods shall be first meet the standards stipulated in laws and regulations when the inspection standards are specified by laws or regulations.103. There is no need to inspect the goods which do not need legal inspection.104. The export goods shall be inspected after shi