insurance3

1. What is the meaning of Waiver?            P.105

a. Defined as the voluntary relinquishment of a known legal right.

b. Derived centuries ago from the English common law.

c. The person or party named on the declarations page of the policy.

d. All of the above.

2. What is the meaning of indemnity?   P.93

a. these is no dedu7ction for physical depreciation.

b. valued policy

c. law that exists in some states.

d. states that the insurer agrees to pay no more than the actual amount of the loss.

3. What about Valued Policy Law?        p.94

a. Insurance

b. principle of indemnity

c. Cash value

d. broad evidence rule

C.6

4. What are the types of deductibles?                          P.117

a. straight deductible, insuring agreement  and calendar-year deductible

b. insuring agreement, additional insured and straight deductible

c. aggregate deductible, insuring deductible and additional deductible

d. straight deductible, calendar-year deductible and aggregate deductible

5. what types of insuring agreements?                        P.122

a. Excluded perils, Conditions

b. All risks, Excluded losses

c. Name perils coverage, All risks

d. Conditions, All risks

6. How many major types of policies?             P.122

a. 3

b.4

c.5

d.6

C.7

7. What are the risks in international trade?   P.139

a. Country Risk, Commercial risk and exposure

b. Definition, Country Risk and exposure

c. Commercial risk, exposure and applicability

d. All of the above.

C.8

8. Sales Contract’s Currency of Quote have two factors are?                   P.163

a. Exporter’s Currency and The convertibility of the currency

b. The convertibility of the currency and The risk of currency fluctuation

c. Importer’s Currency and The risk of currency fluctuation

d. Third Country’s Currency and Exporter’s Currency

C.9

9. What is a SED?                           p.191

a. specialized economic document

b. shipper export dangerous

c. shipper is export  declaration

d. straight export  declaration

c.10

10. FCIA created in ………..?                 P.257

a.1962

b.1966

c.1961

d.1916

11. Why the firms need vehicle tracking system?

e)    Fuel and Power Saving

f)     Driver and Load Security

g)    Safer Vehicle Renting

h)   All of above       slide 5 - VTS

12. The reasons of using vehicle tracking system for Logistic Companies are prevent smuggling, knowing the exact location of the cargo, and providing information to customer.

c)    True                    slide 7 - VTS                                                                        

d)    False

13. One of the warehousing types evolved to accommodate the dynamic aspects is

e)    Transportation based

f)     Distribution based

g)    Forwarder based

h)   Consolidation terminals        slide 5 - warehousing

14. FPA- Free from particular average where cover is for total loss only.

c)    True                   slide 11 - cargo insurance

d)    False

15. What is the fuel cost per hour of 747 air carrier?

e)    $ 800

f)     $ 900

g)    $ 1000      

h)   $ 3268                slide 23 – air carrier

16. What are the main types of companies involved in the international air cargo revenue share market?

e)    forwarders

f)     express carriers  

g)    airlines

h)   all of above      slide 12 – air cargo

17. Warehouse management systems (WMS) integrate procedures and software support to standardize storage and handling work procedures.

c)    True                  slide 32 - warehousing

d)    False

18. Consolidation occurs when a warehouse receives materials from a number of sources and combines them into exact quantities for a specific destination

c)    True                 slide 8 - warehousing

d)    False

19. Break-bulk occurs when a warehouse receives a single large shipment and arranges for delivery to multiple destinations

c)    True                 slide 8 - warehousing

d)    False

20. Cross-docking combines inventory from multiple origins into a prespecified assortment for a specific customer.

c)    True                 slide 11 - warehousing

d)    False         

1. Cross-docking combines inventory from multiple origins into a prespecified assortment for a specific customer.

e)    True                slide 11 - warehousing

f)     False

2. Warehouse management systems (WMS) integrate procedures and software support to standardize storage and handling work procedures.

e)    True                  slide 32 - warehousing

f)     False

3. What is the fuel cost per hour of 747 air carrier?

i)     $ 800

j)      $ 900

k)    $ 1000

l)     $ 3268                slide 23 – air carrier

4. The reasons of using vehicle tracking systemfor Logistic Companies are prevent smuggling, knowing the exact location of the cargo, and providing information to customer.

e)    True                    slide 7 - VTS

f)     False

5. One of the warehousing types evolved to accommodate the dynamic aspects is

i)     Transportation based

j)      Distribution based

k)    Forwarder based

l)     Consolidation terminals        slide 5 – warehousing

6. Break-bulk occurs when a warehouse receives a single large shipment and arranges for delivery to multiple destinations

e)    True                 slide 8 - warehousing

f)     False

     7. Why the firms need vehicle tracking system?

i)     Fuel and Power Saving

j)      Driver and Load Security

k)    Safer Vehicle Renting

l)     All of above       slide 5 - VTS

8. What are the main types of companies involved in the international air cargo revenue share market?

i)     forwarders

j)      express carriers

k)    airlines

l)     all of above      slide 12 – air cargo

9. Consolidation occurs when a warehouse receives materials from a number of sources and combines them into exact quantities for a specific destination

e)    True                 slide 8 - warehousing

f)     False

10. FPA- Free from particular average where cover is for total loss only.

e)    True                   slide 11 - cargo insurance

f)     False

1. SDR stands for special drawing right. (A.)

A. True

B. False

2. Spot exchange rate is the exchange rate of a foreign currency for immediate delivery. (A.)

A. True

B. False

3. Swap rate is the exchange rate of a foreign currency for delivery in 30, 90 or    days from date of the quote. (D.)

A.120

B. 140

C. 160

D. 180

4. Floating currency is a currency whose value is determined by market   . (B.)

A. Demands

B. Forces

C. Measures

D. None of Above

5. Forward exchange rate is the exchange rate of a foreign currency for delivery in 30, 90, or 180 days from the date of the quote. (A.)

A. True

B. False

6. Money market hedge is a financial technique designed to    exchange rate. (D.)

A. Increase

B. Change

C. Eliminate

D. Reduce

7. End-Use certificate is a document required by some governments in the case of sensitive exports. (A.)

A. True

B. False

8. Damp lease is an agreement between the owner of an aircraft and the   . (C.)

A. Stock holder

B. Lessor

C. Lessee

D. None of above

9. EDI stands for    (B.)

A. Electronic data identification

B. Electronic data interchange

C. Electronic data insurance

D. None of Above

10. Manifest is a document,    to the shipping company. (A.)

A.   Internal

B.   External

C.   Inbound

D.   Outbound

1. If the insurers ………….. notice of abandonment, it then becomes necessary for the assured to issue a writ against the insurer to recover his loss.

1. Decline to accept.    PAGE 5
2. Concern.
3. Don’t agree.
4. Agree.

2. What cargo insurance means?

a.     covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. PAGE 12

b.     Provide leading edge technology as part of one integrated solution to their clients.

c.      Increase revenue stream by offering broader supply chain solutions supporting replenishment and inbound logistics.

d.     covers the door-to-door movement of goods by two or more modes of transport under the responsibility of a single transport operator.

3. What is Air Cargo Providers Impact?

a. Provide leading edge technology as part of one integrated solution to their clients.

b.   Increase revenue stream by offering broader supply chain solutions supporting replenishment and inbound logistics.

c.   Increase on time performance with shrinking delivery windows.

d.   All above is correct.       Page 22

3. FPA stand for

a. Free from particular average where cover is for total loss only.      Page11

b.  free to directly.

c. focus on particular customer.

d. free on broad.

4. Where the subject-matter insured is warranted free from particular average, the assured cannot recover for a loss of part, unless the contract provide for the apportionable part (total loss of apportionable part). What is this article refers to?

a. FPA.                       PAGE  13

b. incoterm.

c. dhl.

d. cargo insurance.

5. ………. maximum amount recoverable from insurer is the insurable value of the cargo.

a. unvalued policy.              PAGE 25

b. cargo insurance.

c. truck policy.

d. none.

6.    What is the concept of international multimodal?

a.    The concept of international multimodal transport covers the door-to-door movement of goods by two or more modes of transport under the responsibility of a single transport operator.    PAGE  57

b.    Multimodal Transportation of Goods Act, 1993 regulate the business of the Multimodal Transport Operator (MTO) in India.

c.    In Multimodal transport the MTO remains responsible for the goods throughout from the time of taking the goods in his charge until delivery.

d.    All above is correct.

7.    Duty loss

a.    No duty is chargeable on short landed or total loss consignment and necessary refund should be applied to customs authority.

b.    Bill of entry is the document to find the correct duty paid and according the duty shall be assessed by the claimant to lodge a claim on the port or transporter.

c.    A,b correct.   PAGE 60

d.    A,b not correct.

8.    .............is declared by the steamer consignees.

a.    General Average.           PAGE49

b.    Duty loss.

c.    Partial loss.

d.    Total or Constructive Total Loss.

9.    Sea Transit

a.    Ship-owners are not liable for loss or damage by excepted perils, negligence of master & crew of ship, sea perils, war & srcc.  PAGE 62

b.    Bill of entry is the document to find the correct duty paid and according the duty shall be assessed by the claimant to lodge a claim on the port or transporter.

c.    Free from particular average where cover is for total loss only.

d.    Provide leading edge technology as part of one integrated solution to their clients.

10. The visible costs to the client are……

a    Loss of Sale.

a.    Cost of Replacement.

b.    Cost of Debris Removal.

c.    All above is corret.    PAGE 80

Break-bulk occurs when a warehouse receives a single large shipment and arranges for delivery to multiple destinations

a)    True                 slide 8 - warehousing

b)    False

Cross-docking combines inventory from multiple origins into a prespecified assortment for a specific customer.

a)    True                 slide 11 - warehousing

b)    False         

Warehouse management systems (WMS) integrate procedures and software support to standardize storage and handling work procedures.

a)    True                  slide 32 - warehousing

b)    False

Consolidation occurs when a warehouse receives materials from a number of sources and combines them into exact quantities for a specific destination

a)    True                 slide 8 - warehousing

b)    False

Why the firms need vehicle tracking system?

a)    Fuel and Power Saving

b)    Driver and Load Security

c)    Safer Vehicle Renting

d)    All of above       slide 5 - VTS

The reasons of using vehicle tracking system for Logistic Companies are prevent smuggling, knowing the exact location of the cargo, and providing information to customer.

a)    True                    slide 7 - VTS                                                                         

b)    False

FPA- Free from particular average where cover is for total loss only.

a)    True                   slide 11 - cargo insurance

b)    False

            What is the fuel cost per hour of 747 air carrier?

a)    $ 800

b)    $ 900

c)    $ 1000      

d)    $ 3268                slide 23 – air carrier

What are the main types of companies involved in the international air cargo revenue share market?

a)    forwarders

b)    express carriers  

c)    airlines

d)    all of above      slide 12 – air cargo

One of the warehousing types evolved to accommodate the dynamic aspects is

a)    Transportation based

b)    Distribution based

c)    Forwarder based

d)    Consolidation terminals        slide 5 - warehousing

1. What does “FPA” stand for?

a. Free from particular average

b. Financial Planning Association

c. Fire Protection Association 

d. Flexible Packaging Association

ANS: a. Free from particular average

2. Which one is not in The Market Impact?

a. Customer-Centric Approach

b. Focus on Core Competency

c. Dataquest values

d. Time-based competition

ANS: c. Dataquest values

3. What does “MC” stand for?

a. Member of Congress

b. Motor Carrier

c. Military Cross

d. Master of Ceremonies

ANS: b. Motor Carrier

4. Which one except in The Wal-Mart culture is based on 3 fundamental principles?

a. Respect for the individual

b. The highest standard of service to their customers

c. Constant drive for excellence

d. Time-based competition

ANS: d. Time-based competition

5. What is warehousing contributes value in the logistics process?

a. Traditionally viewed and contemporary view

b. Distribution centers and Cross-docks

c. Break-Bulk facilities and contemporary view

d. Cross-docks and Break-Bulk facilities

ANS: a. traditionally viewed and contemporary view

6. When overall logistics costs are reduced which is?

a. Service benefits

b. Economic benefits

c. Transport benefits

d. Warehouse benefits

ANS: b. Economic benefits

7. When a warehouse receives a single large shipment and arranges for delivery to multiple destinations which is the meaning of?

a. Consolidation

b. Economic

c. Service benefits

d. Break-bulk

ANS: d. Break-bulk

8. When a warehouse receives materials from a number of sources and combines them into exact quantities for a specific destination which is the meaning of?

a. Economic

b.Consolidation

c. Break-bulk

d. Service

ANS: b.Consolidation

9. Which one is not in reverse logistics including activities supporting?

a. Remanufacturing and repair

b. Remarketing

c. Mixing

d. Returns management

ANS: c. Mixing

10. Which one is not Safety and maintenance issues must also be considered when planning warehouse designs?

a. Discrete selection

b. Accident prevention

c. Maintenance

d. Environmental protection

ANS: a. discrete selection

1. Explain about Carriage Paid To (CPT)?

     -CPT Incoterm is the same as the CFR incoterm, except that it applies to goods shipped by means other modes of transport.

2. What is the point of delivery of CIF transaction?

    - Point of delivery of CIF transaction is FOB point.

3. What the sources of risk in international trade?

    - Commercial, country risk, exposure

4. What is the means of international factoring?

    - A means of financing international receivable accounts, by which a firm can ask a factoring company to advance funds on a receivable account.

5. What types of Bank Guarantees?

    - The tender guarantee, the performance guarantee, the maintenance guarantee, The advance payment guarantee, The payment guarantee.

6. Explain about direct quote?

    - The value of a foreign currency expressed in units of the domestic currency.

7. What is the manifest?

    - Manifest is a document, internal to the shipping company that lists all cargo onboard the transportation vehicle.

8. What is the EDI?

    - EDI is an electronic exchange of document, from computer to computer.

9. What is the strategy of risk transfer?

    -  The strategy of risk transfer is also fairly clear; the firm decides to transfer all of its risks to an insurance company.

10. What is the mixed approach?

    - The Mixed Approach is one where the firm decides some of the risk and transfer the rest.

Page 93

1.  What is principle of indemnity.

a.    One of the most important principles in insurance

b.    Economic

c.    Environment

d.    General rule of law

2. How much have indemnity of fundamental purposes.

a.    1

b.    2

c.    3

d.    4

Page 95

3. What is valued policy.

a.    A policy that pays the face amount of insurance if a total loss occurs

b.    Many of rule

c.    Some law

d.    All wrong

4. What is life insurance .

a.    Another exception to the principle of indemnity

b.    Technically violated

c.    Applicable deductible

d.    Replacement cost insurance

Page 96

5. What is main insurable interest.

a.    Position to lose

b.    Personal property such as a computer

c.     important legal principle

d.    Damaged or destroyed

Page 102                                          

6.  Distinct legal characteristics are as follows ?

a.    Aleatory contract

b.    Unilateral contract

c.    Conditional contract

d.     Every past are right     

Page 113 on chapter 6

7. What is insuring agreement

a.    Basic part of any insurance

b.    Summarizes the major promises of the insurance

c.    Covered except

d.    Every wrong

8. What is all-risks

a.    General preferable

b.    Property is covered

c.    Listed peril

d.    Agreeing to defend

9. What isn’t exclusion

a.    Excluded perils

b.    Excluded losses

c.    Excluded property

d.    Additional insurance

10. When more than one person

a.    Named insured

b.    Other insurance

c.    First named insurance

d.    Additional insurance

1.    Customer-Centric Approach

a.    one-to-one marketing and selling

b.    customized and configurable

c.    intelligent decisions

d.    All the above

2.    Focus on Core Competency

a.    speed to market

b.    build brand and market (Nike Model)

c.    scale dynamically

d.    All the above

3.    Time-based competition

a.    Faster order cycle times

b.    Shorter lead times

c.    Instant Visibility

d.    All the above

4.    Virtual Logistic Program is Strategic Alliance with progressive transportation providers to execute on the vision of Collaborative Commerce.

a.    True

b.    Falls

5.    Virtual Logistic Program is Strategic Alliance with progressive transportation providers to execute on the vision of Collaborative Commerce. 

a.    True                 

b.    Falls

6.    B2B is Business-to-Business.

a.     True                

b.     Falls   

7.    The e-procurement site TSTH is B-to-B procurement platform to tap the tremendous opportunity offered by information technology, especially the web, towards conducting business with its partners in a better way

a.    True                

b.    Falls

8.    E-Procurement is defined as electronic and internet based solutions that facilitate corporate purchasing over an electronic medium. These solutions include the technology platform and the services provided via trading portals or exchanges

a.    True                

b.    Falls

9.    Benefits of Warehouse Management included:

1. Provide a place to store & protect inventory
2. Reduce transportation costs
3. Improve customer service levels
4. All the above

10. Functions of warehousing include Transportation consolidation; Product mixing; Docking; Service; Protection against contingencies.

1. True
2. Falls

1. The reasons of using vehicle tracking system for Logistic Companies are prevent smuggling, knowing the exact location of the cargo, and providing information to customer.

a) True slide 7 - VTS

b) False

2.  FPA- Free from particular average where cover is for total loss only.

a) True slide 11 - cargo insurance

b) False 

3.  What is the fuel cost per hour of 747 air carrier?

a) $ 800

b) $ 900

c) $ 1000

d) $ 3268 slide 23 – air carrier

4. What are the main types of companies involved in the international air cargo revenue share market?

a) forwarders

b) express carriers
c) airlines

d) all of above slide 12 – air cargo

5.  One of the warehousing types evolved to accommodate the dynamic aspects is

a) Transportation based

b) Distribution based

c) Forwarder based

6.  Warehouse management systems (WMS) integrate procedures and software support to standardize storage and handling work procedures.

a) True slide 32 - warehousing

b) False

7.  Break-bulk occurs when a warehouse receives a single large shipment and arranges for delivery to multiple destinations

a) True slide 8 - warehousing

b) False

8.  Cross-docking combines inventory from multiple origins into a prespecified assortment for a specific customer.

a) True slide 11 - warehousing

b) False          

9.  Consolidation occurs when a warehouse receives materials from a number of sources and combines them into exact quantities for a specific destination

a) True slide 8 - warehousing

b) False

d) Consolidation terminals slide 5 - warehousing

10. Why the firms need vehicle tracking system?

a) Fuel and Power Saving

b) Driver and Load Security

c) Safer Vehicle Renting

d) All of above slide 5 - VTS 

1.  One of the warehousing types evolved to accommodate the dynamic aspects is

a) Transportation based

b) Distribution based

c) Forwarder based

2.  FPA- Free from particular average where cover is for total loss only.

a) True slide 11 - cargo insurance

b) False 

3. Why the firms need vehicle tracking system?

a) Fuel and Power Saving

b) Driver and Load Security

c) Safer Vehicle Renting

d) All of above slide 5 - VTS 

4. What are the main types of companies involved in the international air cargo revenue share market?

a) forwarders

b) express carriers
c) airlines

d) all of above slide 12 – air cargo

5. The reasons of using vehicle tracking system for Logistic Companies are prevent smuggling, knowing the exact location of the cargo, and providing information to customer.

a) True slide 7 - VTS

b) False

6.  Warehouse management systems (WMS) integrate procedures and software support to standardize storage and handling work procedures.

a) True slide 32 - warehousing

b) False