International Marketing
Practice Test
1.
A port where all traders may store merchandise duty-free until it is either exported or sold within the country is known as a(n)
a.
free port
b.
free trade zone
c.
Forex
d.
igloo
2.
A pricing strategy in which a multinational corporation allows each subsidiary to set the most desirable price within its market, as long as it is profitable, is known as
a.
area market strategy
b.
adaptation approach
c.
multinational strategy
d.
subsidiary strategy
3.
An individual validated license is the same as a(n)
a.
general license
b.
quota
c.
consular invoice
d.
export license
4.
An adjustment in shipping charges made to offset price fluctuations in the cost of fuel is a(n)
a.
bunker adjustment factor
b.
currency adjustment factor
c.
cash against documents
d.
excessive fuel fee
5.
The trade agreement that established free trade between the United States, Canada, and Mexico is known as
a.
GATT
b.
WTO
c.
NAFTA
d.
TEU
6.
Exchange controls limit
a.
the amount of any company that can be owned by foreigners
b.
the amount of money that can be withdrawn from a nation at any given time
c.
the amount of a given product that can be imported into a nation during a year
d.
tariffs that can be levied against the products of a foreign country
7.
Population characteristics describe
a.
demographics of a nation
b.
the distribution of a population in a nation
c.
the political environment of a nation
d.
all of the above
8.
A hard currency is
a.
weak and unsuitable for payment of international transactions
b.
generally from a developing nation
c.
stable and widely used in international commerce
d.
the same as Eurodollars
9.
A set of international standards for the uniform interpretation of common international trade contract clauses are called
a.
INCOTERMS
b.
the harmonized code
c.
GATT
d.
ADR
10.
A ton deadweight is
a.
the weight of an empty container
b.
the weight of only the contents of a container, but not the container
c.
the carrying capacity of a ship, including the total cargo, fuel, provisions, and passengers
d.
the measurement of a shipment based on the chargeable weight
